Bankruptcy

Kiev

Ukraine's currency plunges as ceasefire fears grow

Ukraine's currency lost nearly 5 percent of its value on Monday after a weekend that saw the heaviest shelling in a month hit the main rebel stronghold in the east and signs that Moscow had dispatched troops and tanks to reinforce separatists.

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iPhone6 Sapphire Glass Cover news

GT Advanced says fell victim to 'bait-and-switch' by Apple

Apple Inc pulled a "bait and switch" move to force GT Advanced Technologies into a money-losing deal to supply the iPhone maker with sapphire, according to an affidavit by a senior executive at the company.

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TXU, now Energy Future Holdings Corp, company headquarters

Energy Future Holdings given conditional OK to take Oncor bids

Bankrupt power company Energy Future Holdings Corp received conditional court approval to accept bids for its majority stake in Oncor, a power transmission company in Texas worth billions of dollars.

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Energy Future Holdings Corp

Creditors take aim at Energy Future plan for sale of Oncor stake

Energy Future Holdings squared off against creditors in court on Friday as the bankrupt Texas power company sought approval to begin a multibillion dollar auction of its interest in Oncor, a power transmission business.

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The iPhone 6 Plus

GT to cut jobs, wind down sapphire plant; takes aim at Apple

GT Advanced Technologies Inc (GTAT.O) said it will cut 890 jobs, close an Arizona plant expected to make scratch-resistant screens for Apple Inc (AAPL.O), and suggested it could pursue legal claims against the iPhone maker while revamping under bankruptcy.

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Tim Cook

GT Advanced bankruptcy offers warning to Apple suppliers

The financial implosion of Apple Inc (AAPL.O) supplier GT Advanced Technologies Inc this week offers a dramatic illustration of how the iPhone maker can put the screws to suppliers willing to take a short-term risk for future riches.

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Gaming Activity in Atlantic City Expected to Decline to 41 percent 2011

Brookfield bids for Atlantic City's Revel Casino

An affiliate of Brookfield Asset Management (BAMa.TO) (BAM.N) has topped Florida real estate developer Glenn Straub's $90 million bid for the bankrupt Revel Casino Hotel in Atlantic City, the Wall Street Journal reported, citing sources.

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Detroit Bankruptcy

Michigan OK's bonds to fund Detroit's bankruptcy plan

Michigan officials on Friday signed off on four bond issues totaling $1.1 billion that would fund Detroit's exit from the biggest-ever municipal bankruptcy.

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Detroit Bankruptcy

U.S. bankruptcy judge approves Detroit water/sewer bond plan

A U.S. bankruptcy court judge on Monday approved Detroit's proposal to repurchase nearly $1.5 billion of existing water and sewer revenue bonds tendered by investors and to refinance the debt to save money.

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Genco

Genco Shipping & Trading files for Chapter 11 bankruptcy protection

Genco Shipping & Trading has filed for Chapter 11 bankruptcy protection on Monday as it planned to restructure the company and emerge immediately from bankruptcy although it did not provide a specific time frame for the move.

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Bitcoin

Mt. Gox issues new statement on website

Mt. Gox has posted a new statement which shed more light on the company's financial situation and validated the contents of a document leaked earlier, TechCrunch reported.

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Sbarro

Pizza chain Sbarro said to be readying second bankruptcy filing

Sources told Bloomberg that pizza restaurant chain Sbarro is preparing for a bankruptcy filing which could take place any time in the next few weeks.

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Mt. Gox

Mt. Gox to seek bankruptcy protection

After shuttering its operations this week, Tokyo-based Bitcoin exchange Mt. Gox told reporters that it will be seeking bankruptcy protection, The Wall Street Journal reported.

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The Morpheus

India's first startup accelerator The Morpheus to shut down

The Morpheus, the first private startup accelerator in India, is shutting down its operations this week after six years of conducting accelerator programs for startups in the country, because of the fierce competition from its rivals.

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LightSquared

Private equity-backed LightSquared agree on restructuring plan with creditors to get out of bankruptcy

LightSquared Inc seemed to have marked a small milestone towards getting out of bankruptcy when on Friday, it told a state court that it has been working with its creditors regarding a plan to restructure the company's assets.

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