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.
Bankruptcy
Redbox DVD Rental Business Officially Shutting Down as Parent Firm Faces Bankruptcy Liquidation
Redbox's DVD rental kiosks shut down permanently after parent firm Chicken Soup for the Soul Entertainment changed its Chapter 11 bankruptcy petition to Chapter 7 liquidation.
RedBox Owner Chicken Soup for the Soul Entertainment Files for Bankruptcy, Reporting $970 Million Debt
Chicken Soup for the Soul Entertainment filed for Chapter 11 bankruptcy, disclosing $970 million in debt...
Rite Aid to Close 27 US Outlets as Drugstore Chain Faces Federal Bankruptcy
Rite Aid is closing more than 20 US stores, according to court documents filed this week in its federal bankruptcy case...
Fisker Files for Bankruptcy as Negotiations With Major Carmaker Come to Close
Fisker filed for bankruptcy after purchase talks with a multinational automaker failed...
Red Lobster Abruptly Closes at Least 48 Restaurants in US Amid Bankruptcy Reports
Red Lobster is unexpectedly shutting 48 US locations, liquidating its ...
Steward Health Care Puts All 31 Hospitals up for Sale to Address $9 Billion Debt After Filing for Bankruptcy
Steward Health Care has reportedly listed all its 31 hospitals in the ...
Latest News
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
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
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.
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.
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.
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 f
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 restruc
Bankruptcy sale of convicted jeweler Ralph O. Esmerian's art fetches $13M at Sotheby's
The sale of the art collection of convicted jeweler Ralph O. Esmerian was able to gather $13 million, $10.5 million of which will go to creditors, Bloomberg reported.
Creditors of XL-ID Solutions Inc. approve proposal
XL-ID Solutions Inc. announced that at the meeting of its creditors which took place on January 24, 2014, the statutory majority of creditors approved the proposal submitted by the Corporation pursuan
