Bankruptcy

Flag of Puerto Rico

Puerto Rico bankruptcy bill to get House hearing: sources

A long-shot bill to give Puerto Rico's ailing public agencies a chance to restructure their massive debts under the section of U.S. bankruptcy law used by cities such as Detroit and Stockton, California, will get a hearing before a key congressional committee, according to two sources familiar with the matter.

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Puerto Rico and U.S. flags

Puerto Rico set for tougher debt struggle after court ruling

Hopes of an orderly resolution to Puerto Rico's debt crisis suffered a heavy blow after a court voided the island's restructuring law, raising fears it may be heading for a longer, messier debt overhaul.

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RadioShack Corp

RadioShack files for bankruptcy; Sprint to take over some stores

Electronics retailer RadioShack Corp filed for U.S. bankruptcy protection on Thursday and said it had a deal in place to sell as many as 2,400 stores to an affiliate of hedge fund Standard General, its lender and largest shareholder.

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RadioShack

RadioShack may close, Sprint to get half of chain: BBG

Troubled electronics retailer RadioShack Corp is preparing to shut down the chain in a bankruptcy deal that would see half the stores taken over by Sprint Corp, Bloomberg News reported, citing people with knowledge of the discussions.

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Caesars Entertainment Corp

Caesars' gets its Chicago bankruptcy in win for Apollo

The bankruptcy of the operating unit of Caesars Entertainment Corp's will proceed in Chicago, a victory for the casino company's private equity backers over its hedge fund creditors who wanted the case in Delaware.

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SkyMall

SkyMall, known for in-flight catalogs, lands in bankruptcy

SkyMall, whose in-flight shopping catalogs have long been a staple of airline travel, has filed for bankruptcy protection, blaming changing consumer habits and the loss of contracts from two major carriers, Delta and Southwest.

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Gaming Activity in Atlantic City

Atlantic City bankruptcy talk 'premature': turnaround team

It's "premature" to talk about bankruptcy for troubled gaming resort Atlantic City, Detroit's former turnaround expert said Thursday as he signed on with the latest bid to revive a city some see as bound to follow the path taken by the Motor City.

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Men's Wearhouse

Cache Inc may file for bankruptcy as soon as next week: Bloomberg

Cache Inc (CACH.O) is poised to become the latest U.S. apparel retailer to file for bankruptcy, Bloomberg reported, citing people familiar with the matter.

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Target Corp

Thin crowds during CEO's visit helped seal Target Canada's demise

Target Corp was scrambling for ways to fix its failing Canadian expansion and considering closing just the weakest locations, but a pre-holiday visit to several stores by CEO Brian Cornell helped seal the decision for a full retreat.

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Gaming Activity in Atlantic City

Judge approves Atlantic City tax deal with Revel Casino

A federal judge said on Tuesday she would approve a $26 million settlement between Atlantic City and the Revel Casino Hotel that will provide much-needed cash for New Jersey's struggling gambling hub and a tax cut for the shuttered gambling complex.

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Detroit Bankruptcy

Fees, expenses for Detroit bankruptcy hit nearly $178 million

Detroit's historic bankruptcy, which officially ended earlier this month, cost the city nearly $178 million in fees and expenses for teams of lawyers and consultants, according to a city court filing on Tuesday.

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Chet Kanojia

Court allows Aereo to auction TV streaming technology assets

A bankruptcy court has allowed defunct video streaming company Aereo Inc to auction its TV streaming technology assets, according to court papers published on Friday.

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Money

Bosnia's Bobar bank shut, big depositors face losses

Bosnian lender Bobar Banka has been shut after its shareholders failed to come up with a recovery plan, the regional banking agency said, leaving its clients, including major state firms, at risk of losing some of their 250 million Bosnian marka ($156 million) in deposits.

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Detroit Bankruptcy

Creditor to oppose San Bernardino bankruptcy plan favoring Calpers - source

A major capital markets creditor of bankrupt San Bernardino, California, will oppose any exit plan that is more favorable to Calpers, California's public pension fund, a source familiar with the creditor's strategy said on Thursday.

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Carl Icahn

Icahn offers $20 million to keep Atlantic City Trump casino open

Billionaire investor Carl Icahn offered $20 million in financing on Thursday to keep the Trump Taj Mahal from becoming the fifth casino to close this year in New Jersey's troubled Atlantic City, was once the only major destination for gamblers on the U.S. East Coast.

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