Home

bankruptcy

Greece Parliament to debate austerity measures

Mon, 06/27/2011 - 14:04 by Anter Prakash Singh

The parliament of Greece is going to start discussions on the austerity measures which the European Union and the IMF want to pass before distributing the next installment of the bailout programme.

SAAB faces bankruptcy, fails to pay salaries

Sat, 06/25/2011 - 12:42 by Anter Prakash Singh

SAAB may be pushed towards bankruptcy if its worker union decides to go ahead with the legal process to recover salaries. Running low on working capital, the Swedish automaker was forced to stop the payment to its 1500 workers on Thursday.

Crystal Cathedral sells for $46mn, evades bankruptcy

Sun, 05/29/2011 - 15:29 by Neka Sehgal

The Crystal Cathedral, the gleaming iconic glass-walled church in Southern California, is selling its property to rescue itself from bankruptcy and pay back its creditors.

GM to invest $2 bn in its US plants

Wed, 05/11/2011 - 15:15 by Anter Prakash Singh

General Motors announced on Tuesday that it will be investing $2 billion in retooling its 17 plants spread across 8 States in the United States.

Harry & David Holdings Inc. seeks bankruptcy protection

Tue, 03/29/2011 - 14:39 by Cooshalle Wilson

Iconic 100-year-old fruit basket company has filed for Chapter 11 bankruptcy protection.

A&P stores files for bankruptcy protection

Mon, 12/13/2010 - 12:15 by Anter Prakash Singh

The Great Atlantic & Pacific Tea Co. (A&P) has filed for bankruptcy protection. The company is more than 100 years old and was once one of the biggest grocer in the nation.

The Downside of Financial Literacy

Sat, 12/11/2010 - 10:45 by Morgan Housel

 Our mission at The Motley Fool is to educate, amuse, and enrich. We do this because we think -- no, we know -- that people make better financial decisions when their financial literacy grows.

 

Antique stock rode through GM's travails

Thu, 12/09/2010 - 08:22 by Prince damin

Lansing, Mich. -- General Motors Co.'s bankruptcy in 2009 did everything but hurt business in the selling of old stock certificates, an antique dealer in Michigan said.

"GM is the greatest bankruptcy in my lifetime," said Lawrence Falater, who sold 500 engraved GM certificates at the Antiquarian Book & Paper Show in Lansing, Mich., in October, the Detroit Free Press reported Wednesday.
The artwork on the GM certificates varies from a woman sitting on a lion to etchings of cars and buses.

Falater's collection includes a stock certificate signed by Henry Ford and one signed by 12 of Ford's original 12 shareholders. His oldest: A stock certificate from the New England Motor Carriage company, that made steam powered cars more than 100 years ago.

Louisville Orchestra files for bankruptcy

Sat, 12/04/2010 - 23:32 by Prince damin

Louisville, Ky. -- The Louisville Orchestra has filed for Chapter 11 bankruptcy just weeks before its 75th anniversary, officials in Kentucky said.

The orchestra also asked the court for permission to break its collective bargaining agreement with players in the Louisville Federation of Musicians Local 11-637, The Louisville (Ky.) Courier-Journal reported.

The orchestra's players have been paid through Dec. 15, and are expected to perform all scheduled performances until then, orchestra chief executive officer Robert Birman said.

Court approves MGM reorganization plan

Fri, 12/03/2010 - 10:10 by Prince damin

Los Angeles -- Metro-Goldwyn-Mayer says the U.S. Bankruptcy Court for the Southern District of New York has approved its plan of reorganization.

The decision clears the way for MGM and its subsidiaries to emerge from Chapter 11 in short order, the famed movie studio said Thursday.
In confirming the plan, Judge Stuart M. Bernstein found it satisfied the various requirements of the U.S. Bankruptcy Code.

GM's IPO stamped as hypocritical

Wed, 11/17/2010 - 06:58 by Prince damin

New York -- Average U.S. taxpayers who bailed out General Motors Co. will miss out on the initial stock offering that marks its return to public trading, brokers said.

The U.S. Treasury, which loaned GM $50 billion when the automaker sank into bankruptcy last year, said there would be "ample opportunity" for jumping in on the initial public offering that will take place Thursday, The Los Angeles Times reported Tuesday.

But brokerage houses that cater to anyone near an average income have been cut out of the deal, which is being channeled through high-end firms, even as it is being managed by four banks that were also bailed out by the government during the financial crisis.

Debt Settlement: Alternative to Filing Bankruptcy

Thu, 09/30/2010 - 16:07 by Anonymous

Being in debt is definitely an awful situation. Though all desire to pay off the debts, many fail to get on the right track. Of the various ways to settle outstanding payments, one is debt settlement.