Saab’s liquidation plan earns court approval
(Reuters) - The bankrupt U.S. arm of Swedish automaker Saab Automobile AB has gained court approval of a plan to liquidate and pay back creditors, effectively ending its bankruptcy. Judge...
All Stories
Textbook publisher Cengage files bankruptcy to cut debt
NEW YORK (Reuters) - Textbook publisher Cengage Learning Inc on Tuesday filed for bankruptcy protection as part of a prearranged restructuring it said would help it eliminate more than $4...
Kodak restructuring framework OK’d by court, will go to creditors
NEW YORK (Reuters) - The framework of a plan by Eastman Kodak Co to restructure as a commercial imaging business was approved by a bankruptcy judge on Tuesday, bringing the...
Lehman, Barclays battle over 2008 sale goes before appeals panel
NEW YORK (Reuters) - Lehman Brothers' defunct brokerage told an appeals court on Wednesday it was entitled to billions of dollars in cash it says was wrongly included in its...
Justice Department opposes AMR’s $20 million severance for CEO Horton
(Reuters) - A plan by American Airlines' parent to exit bankruptcy and merge with US Airways Group is coming under fire from the U.S. Department of Justice over nearly $20...
Ally settlement may be a boon for ResCap bondholders
NEW YORK (Reuters) - While bond insurers MBIA Inc and FGIC Corp receive the lion's share of Ally Financial Inc's $2.1 billion contribution to the debts of mortgage lender Residential...
Patriot, coal miners square off over benefits
ST. LOUIS/NEW YORK (Reuters) - Arguments got under way on Monday over the fate of healthcare and pension benefits for unionized workers of Patriot Coal Corp as thousands of miners...
Court OKs Lehman settlements to free up $15 billion for customers
NEW YORK (Reuters) - A judge on Tuesday approved a set of settlements among Lehman Brothers entities that will allow the company's defunct brokerage to pay back about $15 billion...
Capmark’s $147 million lawsuit against Goldman thrown out
NEW YORK (Reuters) - A federal judge halted a bid by real estate lender Capmark Financial Group to recover $147 million from Goldman Sachs in connection with alleged conflicts of...
BizJet officers charged with bribing Latin American officials
(Reuters) - Two officers of a Lufthansa subsidiary were indicted in Oklahoma on charges of bribing foreign officials to secure aircraft maintenance contracts, while two others pleaded guilty to related...