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Eike Batista

$5.8 B debt accord sees Batista's OGX shares jump 21%

Investors seemed to be positive with regard to news from former Brazilian billionaire Eike Batista about Oleo & Gas Participacoes SA's creditors agreeing to convert $5.8 billion worth of company debt into equity stakes.

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Eagle Merchant Partners

Eagle Merchant Partners says it won't sell Arcapita's assets

Eagle Merchant Partners, the firm managing the legacy portfolio firms of its former parent bank Arcapita, said it will not be selling Arcapita's assets for cents on the dollar, The Wall Street Journal reported.

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Nortel Networks Inc

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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Dan Akerson

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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Savient Pharmaceuticals Inc

Savient Pharmaceuticals gets approval from US Bankruptcy Court to sell all assets to Crealta

A US Bankruptcy Court gave its approval to Savient Pharmaceuticals to sell all substantially all its assets to Crealta Pharmaceuticals, a firm backed by private equity company GTCR.

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Christie's

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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SAAB

Investment group revives Saab 9-3 production after bankruptcy filing

After more than two years since it filed for bankruptcy due to lack of cash and halting production, Swedish car automaker Saab AB via its parent company National Electric Vehicle Sweden (NEV) AB started making cars today.

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Fisker Atlantic

Fisker Automotive seeks bankruptcy protection

Fisker Automotive Inc filed for bankruptcy and plans for its assets to be acquired by Hybrid Technology. The group included Richard Li, the son of Hong Kong's richest man.

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Dish Network Corp

LightSquared sues Dish, Ergen over control of its broadband spectrum

According to a lawsuit filed by wireless communications firm LightSquared Inc, Dish Network Corp and its chairman, Charles Ergen had schemed to ensure that the latter would be able to obtain the former's broadband spectrum.

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Eastman Kodak Co

Fee examiner approves USD 240 million payout to Eastman Kodak Co's bankruptcy advisers

Fee examiner Richard Stern recommended to Judge Allan Gropper that USD 240 million in fees and expenses be paid to Eastman Kodak Co's lawyers and advisers.

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Eike Batista

OSX's Batista undergoes restructuring before bankruptcy proceedings

A new CEO was recently installed for billionaire Eike Batista's OSX as it prepares itself for bankruptcy and other legal processes, according to its lawyers.

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Hertz

Advantage Rent a Car to seek bankruptcy protection

Advantage Rent a Car was hived off by Hertz to comply with regulatory authorities.

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LightSquared

LightSquared sues GPS manufacturers for broken promises

A lawsuit was filed by LightSquared against manufacturers of its GPS equipment for broken promises as to the capacity of the machines.

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Cattle raising

Northern Beef Packers sets minimum price for assets

Northern Beef Packers, which had filed Chapter 11 bankruptcy, sets USD12.75 million minimum bid for its assets.

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NRG Energy

NRG Energy acquires assets from Edison Mission

An agreement was signed between NRG Energy and Edison Mission for assets worth USD2.64 billion.

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