Recent Updates
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Chrysler To File For Bankruptcy
Bankruptcy 04/30/2009Storied Detroit automaker Chrysler will file for bankruptcy in New York court almost immediately, senior administration officials said Thursday. "We worked very hard to keep this company out of bankruptcy," one official said on a conference call with...
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Wamu Sues jpmorgan to Recover $4 Billion in Deposits
Bankruptcy 04/29/2009Lawyers for Washington Mutual Inc. have filed a bankruptcy court complaint against JPMorgan Chase & Co. over some $4 billion in disputed assets. Seattle-based WaMu, which filed for Chapter 11 reorganization along with its Washington Mutual Invest...
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Investors take Madoff to bankruptcy court
Bankruptcy 04/14/2009A small group of investors took Bernard Madoff to bankruptcy court on Monday, saying the disgraced financier bilked them out of nearly $64 million. A Manhattan judge cleared the way for the newly filed Chapter 7 petition last week by granting a reque...
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Vick to make first court appearance in bankruptcy
Bankruptcy 04/02/2009A judge wants to know more about suspended NFL star Michael Vick's bankruptcy plan, which is based on his goal of resuming his football career when he gets out of jail. Vick is scheduled to make his first personal appearance in a Virginia bankruptcy ...
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Star Tribune seeks to abandon union's contract
Bankruptcy 03/12/2009The Star Tribune of Minneapolis returns to bankruptcy court Thursday, a day after seeking permission to void one of its labor contracts to further cut costs. Lawyers for the newspaper, which filed for Chapter 11 bankruptcy protection in January, told...
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Spansion Files for Bankruptcy Protection in the U.S.
Bankruptcy 03/02/2009Spansion Inc., the U.S. maker of memory chips for mobile phones, filed for bankruptcy protection to restructure its debt after failing to make an interest payment on $266 million of bonds. The company listed debt of $2.4 billion and assets of $3.8 bi...
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Journal Register files for bankruptcy protection
Bankruptcy 02/23/2009The Journal Register Co. filed Saturday for bankruptcy protection from its creditors and said slumping advertising revenue and circulation are to blame. In the Chapter 11 filing in U.S. Bankruptcy Court in Manhattan, Journal Register proposed a restr...
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Delphi seeks to end health benefits for retirees
Bankruptcy 02/06/2009Troubled auto parts supplier Delphi Corp. has asked a bankruptcy judge to allow it to cancel health care and life insurance benefits for current and future salaried retirees, citing the steep downturn in the overall auto industry in recent months. Th...
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Delaware bankruptcy court restricts Nortel trading
Bankruptcy 01/16/2009The U.S. Bankruptcy Court for the District of Delaware ordered trading restrictions on shares of Nortel Networks Corp., the Canadian telecommunications equipment maker said Friday. Toronto-based Nortel said restrictions were set on trading of its com...
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Chesapeake Corp. files for bankruptcy protection
Bankruptcy 12/30/2008Specialty packaging company Chesapeake Corp. has filed for Chapter 11 bankruptcy protection and plans to sell itself to a group of investors for about $485 million.The company's stock, which is traded over-the-counter, closed at 6 cents Monday, well ...
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Ill. farmer pleads guilty in bankruptcy fraud case
Bankruptcy 11/27/2008A southern Illinois farmer pleaded guilty Wednesday to federal bankruptcy fraud charges, and his attorney said outside court that his client had nothing to do with the unsolved killings of a potential witness and his wife.Joseph Diekemper, 60, of Car...
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Circuit City files for bankruptcy protection
Bankruptcy 11/11/2008Circuit City Stores Inc., the nation's second-biggest electronics retailer, filed for bankruptcy protection on Monday but plans to stay open for business as the busy holiday season approaches.It said it decided to file for bankruptcy protection becau...