Amcor purchases Constar US assets

Australia-based international packaging giant Amcor has agreed to buy Constar International Holdings' US assets for an unconfirmed sum, in a court-supervised transaction under the US Bankruptcy Code.

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Bankrupt Nortel Networks cuts over $3B in claims in reached deal

Three of the four largest claims against the US estate of bankrupt telecoms company Nortel Networks Inc has been resolved, reducing the bills the estate needs to settle by by $5.14 billion, said a Reuters report.

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Russia extends $15B bailout package to Ukraine

The state of Russia under President Vladimir Putin agreed to acquire $15 billion worth of Ukrainian Eurobonds to help the beleaguered country of Ukraine out of a potential currency crisis, according to a Reuters report.

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Taxpayers earned gains on GM bailout - outgoing CEO

Outgoing chief executive officer of General Motors Co Dan Akerson has said that US taxpayers actually netted a gain despite the US government losing $10.5 billion stemming from a bailout package it extended to the carmaker in 2009, according to an Associated Press report.

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Discount chain Loehmann's files for bankruptcy

Loehmann's Holdings Inc., a seller of discounted designer goods from brands like Michael Kors and Calvin Klein, has filed for bankruptcy protection in the US Bankruptcy Court in Manhattan.

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Sports bar and pub operator Fox & Hound files for bankruptcy

Sports bar and pub operator Fox & Hound filed for bankruptcy protection in order to run a streamlined sales process for all of its assets. F&H Acquisition Corp., Fox & Hound's parent, listed out assets and liabilities between $100 million and $500 million.

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Court approves asset sale of Hospitality Staffing Solutions to HS Solutions Corporation

Hospitality Staffing Solutions said it had obtained approval from the court to sell its assets to HS Solutions Corporation. Financial details about the deal were not disclosed.

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Private equity under fire in Sweden as country reconsiders education model- report

The role of private equity firms in Sweden are now under close scrutiny as the country rethinks its pioneering educational reforms that are emulated worldwide, a Reuters Insight report said.

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Rivera mural spared from Detroit bankruptcy sale

Diego Rivera's Detroit Industry murals, which was commissioned by Ford Motors Co. in 1932, has been protected from Detroit's bankruptcy sale. Britain's Christie's Inc. assessed pieces bought by the city money to be worth USD452 million to USD866 million.

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Bankrupt Detroit's art assets value up to USD866 million - Christie's

Auction house Christie's said the value of the 2,781 works collection fully and partially-owned by the Detroit Institute of Arts (DIA) was around the USD452 million to USD866 million range.

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Bankruptcy judge approves American-US Airways merger

Bankruptcy judge Sean Lane dismissed a private effort to block the merger between US Airways and AMR Corp and gave the clearance to allow the transaction to proceed.

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Toshiba to takeover OCZ in bankruptcy sale

Japanese chipmaker Toshiba offered to acquire solid-state hard drive maker OCZ Technology Group Inc. in a planned bankruptcy proceeding. The California-based company will immediately file for bankruptcy and liquidate if the deal with Toshiba falls apart.

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American Airlines faces another hurdle in merger battle

American Airlines Inc was slapped with another lawsuit claiming its merger with US Airways Inc would break antitrust laws, putting another roadblock on its exit from bankruptcy.

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Department of Energy to lose USD139 million on Fisker loan

The Department of Energy will lose about USD139 million on a loan given to Fisker Automotive under a clean vehicles program after the automaker sold part of the loan to Hybrid Technology.

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Justice Department questions feasibility of LightSquared bankruptcy exit plans

The US Department of Justice objected to four restructuring plans put forth by bankrupt LightSquared and its creditors. The objection will be discussed at a bankruptcy court hearing on December 10 in Manhattan.

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