Former owner Moyes likely to countersue NHL over Coyotes Mar 10, 2010
The NHL successfully fought that sale in bankruptcy court acquiring the team itself for $140 million. The NHL now is working on a deal to sell the Coyotes to Ice Edge Holdings, which would keep the team in the Phoenix market. (Phoenix Business Journal, AZ)
Quitclaim Won't Be Recorded Until City Specs Met Mar 10, 2010
Since that time, PR Development is believed to have filed for bankruptcy and is no longer around, according to city officials. The city also failed to collect escrow money that could have been used after the company failed to complete the work. (Missourian Publishing, MO)
NHL: Coyotes to lose $20M this season Mar 10, 2010
The expects the to lose $20 million this season less than the $40 million to $50 million previously estimated by attorneys and others involved in the team s Chapter 11 bankruptcy case ... The NHL has been running the team since 2009 and acquired it through the bankruptcy proceedings. (Phoenix Business Journal, AZ)
Bankruptcy court OKs 'Tribune' sale Mar 10, 2010
Bankruptcy court OKs 'East Valley Tribune' sale - Phoenix Business Journal ... Bankruptcy court OKs 'East Valley Tribune' sale ... A bankruptcy court judge approved the sale of the and related Phoenix media holdings Tuesday to the owner of publications in Tucson and Denver for $2. (Phoenix Business Journal, AZ)
Sale of Ariz. media to Colo. owner OK'd Mar 10, 2010
Bankruptcy court OKs sale of Arizona media properties to Colorado company - Denver Business Journal ... Bankruptcy court OKs sale of Arizona media properties to Colorado company ... A bankruptcy court judge Tuesday approved the sale of the and other Phoenix-area media holdings Tuesday to a Colorado company for $2. (Denver Business Journal, CO)
Liberty Media grabbing control of satellite radio companies Mar 10, 2010
WorldSpace has been reorganizing in Chapter 11 bankruptcy since 2008. This article is for Paid Subscribers ONLY.. (Denver Business Journal, CO)
Delta wins back customers Mar 10, 2010
Atlanta-based Delta struggled after the Sept. 11, 2001 terrorist attacks, then filed for Chapter 11 bankruptcy in 2005 ... Delta finished its bankruptcy reorganization in 2007, which Fornaro cited as reason for its renewed vigor, and closed a massive merger with Northwest Airlines in 2008. (Atlanta Journal-Constitution -- Business)
Internet hustlers go after Madoff victims Mar 10, 2010
The rogue site, which has since been taken down, ripped off the look and design of the Securities Investor Protection Corp. (SIPC) Web site, the actual outfit responsible for returning money to duped investors, and was so convincing it included a quote from Madoff bankruptcy trustee Irving Picard, who is tasked with doling out to investors any money uncovered by the massive fraud. SIPC yesterday issued a warning to Madoff victims not to fall for these or other tricks. (New York Post -- News)
Health Care Backers Sound Off at Insurers Mar 10, 2010
Out nation has already maxed out the national credit card, and we are at the point of national bankruptcy. The money is just not there to give everyone "free" health care. (CBS News -- Health)
Ford Enters Late Into India's Small Car Market Mar 10, 2010
Ford was the only U.S. auto maker to avoid bankruptcy protection amid the economic downturn. Boneham added that the Figo won't be the lone offering in the small car segment. (SmartMoney)
Lower credit card debt traced mainly to charge-offs Mar 10, 2010
Charge-offs occur when consumers declare bankruptcy or when their credit card debt is 180 days past due. The study found that 90% of the $93. (USA Today -- Money)
Sun-Times tech upgrade might cost jobs Mar 10, 2010
The company, which was lifted from bankruptcy protection in October when Mr. Tyree purchased the newspaper assets, has been losing money for seven years. Mr. Halbreich declined to comment on whether the company has returned to profitability. (Crain's Chicago Business)
Ackman joins effort to invest in General Growth Mar 10, 2010
93 billion in the company, bolstering a plan with to bring the mall owner out of bankruptcy. The investments from Bruce Berkowitz s LLC and William Ackman s would allow unsecured creditors to be paid in full with cash. (Twin Cities Business Journal, MN)
Grand jury adds to Denny Hecker indictment Mar 10, 2010
The U.S. Attorney s Office in Minneapolis announced the new charges -- 10 counts of bankruptcy fraud and eight counts of wire fraud -- in a press release ... The new charges accuse Hecker of hiding assets from the Minneapolis U.S. Bankruptcy Court, including luxury boats, vehicles, club memberships, luxury watches, funds transferred to others and cash on hand. (Twin Cities Business Journal, MN)
NYS begins listing tax delinquents online Mar 9, 2010
The list will exclude taxpayers who have protested their tax bills, filed for bankruptcy or are paying the debt in a state-approved installment plan. Allowing for easy public access to these names is just one more tool we will use in our enforcement program to collect all that is owed in taxes in order for the state to pay for vital services it provides to all New Yorkers, said Jamie Woodward, acting commissioner of the tax department. (Buffalo Business First, NY)
Economics focus: Disciplinary measures Mar 9, 2010
The new institution would provide a framework for sovereign bankruptcy comparable to the Chapter 11 procedure for bankrupt companies in America. Without such a process for orderly bankruptcy, the euro area will remain hostage to any country that is unwilling to adjust and threatens a systemic crisis if help is not forthcoming ... Perhaps more importantly, there would be less reason for turbulence in financial markets as the procedure for an orderly sovereign bankruptcy would be known in advance.... (The Economist)
Tapatio in default on loan; foreclosure, sale or bankruptcy possible (1) Mar 9, 2010
Tapatio in default on loan; foreclosure, sale or bankruptcy possible ... He said he and his partner, Jack Parker, are searching for other alternatives, which include finding a buyer, finding additional financing or filing bankruptcy. (Boerne Star, TX)
Miami budget director Boudreaux fired Mar 9, 2010
Miami Mayor Tomas Regalado brought Migoya, a onetime regional president for , on board to help address a budget shortfall and a thin financial reserve that might drive the city to bankruptcy. Miami is heading into rough economic waters, facing a budget deficit of as much as $45 million, due, in part, to reductions in real estate taxes. (South Florida Business Journal, FL)
Jim Warren resigns as Reader publisher Mar 9, 2010
The CEO switch at Creative Loafing comes as that company, which owns weekly newspapers across the country, is revamping its operations following a trip through bankruptcy court that resulted in the company being auctioned off last year to one of its creditors, New York-based hedge fund Atalaya Capital Management L.P., for $5 million in cash. Sponsored by. (Crain's Chicago Business)
Phoenix bankruptcy filings climbed in Feb. Mar 9, 2010
Phoenix-area bankruptcy filings climbed in February ... Phoenix-area bankruptcy filings climbed in February ... Bankruptcy filings climbed in February after a dip in January as more debt-strapped individuals apparently used income-tax refunds to get the ball rolling. (AZCentral -- Business)
Our plan superior to RIL bid: LB Mar 9, 2010
Lyondells new outline of its Chapter 11 reorganisation, filed on Monday in US Bankruptcy Court in New York, incorporates a settlement agreement with some of the companys lenders and sets April 30 as the date for the chemical company to exit bankruptcy. After deliberate consideration, it was determined that Lyondell-Basells amended plan is superior to the Reliance proposal, company spokesman David Harpole said by e-mail. (India Times)
Madoff case claims sped Mar 9, 2010
The judge overseeing the bankruptcy 00002DBA of Bernard Madoff's defunct business is allowing investors to immediately appeal his order that lets the liquidator reject years' worth of fake profit when calculating victims' claims for repayment. US Bankruptcy Judge Burton Lifland in Manhattan certified his order yesterday, allowing an appeal. (New York Post -- Business)
Medical Billing Advocates Could Save You Big Mar 9, 2010
We are close to bankruptcy from the bills. Please help. (ABC News -- Business)
Carl C. Icahn Announces Tropicana Entertainment Inc. Successfully Emerged From Bankruptcy Mar 9, 2010
"market" : {"NAME" : "U.S.", "ID" : "us_market", "TZ" : "ET", "TZOFFSET" : "-18000", "open" : "1268145024", "close" : "1268168424", "flags" : {}} , "STREAMER_SERVER" : "http://streamerapi.finance.yahoo.com","arrowAsChangeSign" : false,"throttleInterval": "1000". Search for share prices. (Yahoo! Wire -- Entertainment News)
NHL sues Phoenix trucking magnate Mar 9, 2010
A Valley trucking magnate may have thought he'd washed his hands of the Phoenix Coyotes after selling the franchise last fall in U.S. Bankruptcy Court ... The suit, filed Friday in New York where the NHL is based, said Moyes also agreed to cover the team's expenses and not file the team into bankruptcy ... By spring 2009, Moyes filed the franchise into bankruptcy with a plan to sell the Coyotes to Canadian Jim Balsillie, who planned to relocate the team from Arena in Glendale to Hamilton,... (AZCentral -- Business)
Beware of Democrats Bearing Gifts Mar 9, 2010
In Greece, decades of lavish spending on public employees and social programs have led to national bankruptcy ... But last month, newly elected Gov. Chris Christie delivered a frank assessment of the need for budget continence: "There's no time left. We have no room left to borrow. We have no room left to tax." New Jersey, he warned, is "on the verge of bankruptcy." New Jersey faces a $68. (Townhall.com)
Obamas $8.6 trillion in deficits: Only a low-ball estimate Mar 9, 2010
Because we were not on the verge of bankruptcy. Also, your little temper tantrum isn t going to work. (Atlanta Journal-Constitution -- Opinion)
Ascent Builders lands lender for condos Mar 9, 2010
TOUSA filed Chapter 11 bankruptcy reorganization in 2008, but said it would stop selling new homes and wind down its operations, including Engle Homes, without converting to Chapter 7 bankruptcy liquidation. Paula Moore | pmoore@bizjournals. (Denver Business Journal, CO)
COVER STORY: Charter's Next Move Mar 9, 2010
After rising from the ashes of bankruptcy, relegating its former chairman to the sidelines and losing its CEO to the largest cable operator in the nation - all in the past three months - Charter Communications is at a crucial point in its 17-year history ... While the bankruptcy did not technically create a change in control - Allen still holds the largest individual stake - the influence of Charter's bondholders, led by Apollo Management, has increased ... Charter emerged from bankruptcy on... (Multichannel News)
Shopping Mall Giant Relisted on NYSE Mar 9, 2010
The deal with Brookfield will pull General Growth out of bankruptcy and is expected to expand its holdings. General Growth already owns or runs 200 shopping malls in 43 states. (Realtor Magazine Online)
Weil Posts Flat Revenue, Slight Rise in Profits Mar 9, 2010
The results are slightly surprising given the firm's strong bankruptcy practice last year, but executive partner Barry Wolf said that other parts of the firm suffered from the economic downturn ... The results are surprisingly level given that Weil has handled some high-profile restructurings this past year -- including the June 2009 Chapter 11 filing and subsequent reorganization of General Motors Corp., and the ongoing Chapter 11 proceedings of Washington Mutual Inc. and Lehman Brothers... (Law.com)
Can California Declare Bankruptcy? Mar 9, 2010
Can California declare bankruptcy ... Can California Declare Bankruptcy ... Can a state declare bankruptcy. (Slate)
Seven rental communities seek bankruptcy protection as multifamily struggles Mar 9, 2010
A stack of foreclosure filings has sent a Naples multifamily owner to bankruptcy court, seeking to hold on to more than a half-dozen apartment communities in the Tampa Bay area. has already filed seven Chapter 11 petitions with the s Middle District of Florida for about $57. (Tampa Bay Business Journal, FL)
High Court: Lawyers Covered by Bankruptcy Reform Law Mar 9, 2010
com - High Court Finds Lawyers and Their Advice Covered by Bankruptcy Reform Law. High Court Finds Lawyers and Their Advice Covered by Bankruptcy Reform Law ... High Court Finds Lawyers and Their Advice Covered by Bankruptcy Reform Law. (Law.com)
Standard Pacific buys Wake Forest home sites Mar 9, 2010
St. Lawrence gave up ownership of the property as part of its court-approved reorganization plan following its bankruptcy filing in February 2009, according to Wake County records ... St. Lawrence Homes filed for Chapter 11 bankruptcy protection in February 2009. (Triangle Business Journal)
KC public schools on brink of bankruptcy Mar 9, 2010
Now it's on the brink of bankruptcy and considering another bold move: closing nearly half its schools to stay afloat. Schools officials say the cuts are necessary to keep the district from plowing through what little is left of the 2 billion it received as part of a groundbreaking desegregation case. (Jefferson City News Tribune, MO)
NuVista Announces 2009 Year End Results Mar 9, 2010
In 2008, SemGroup LP filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code and two of SemGroup LP's Canadian subsidiaries, SemCAMS ULC and SemCanada Crude Company, filed for creditor protection under the Companies' Creditors Arrangement Act in Canada. At December 31, 2008 NuVista provided for the full $4. (CCNMatthews Press Releases)
Ind., Colo. casino owner files Chapter 11 bankruptcy Mar 9, 2010
casino owner files Chapter 11 bankruptcy ... The company that owns Indiana's Hoosier Park casino and horse track and a Colorado casino has filed for Chapter 11 bankruptcy protection ... Centaur CEO Rod Ratcliff said the company has been in talks with its lenders for six months and that it hopes to exit bankruptcy protection by the end of July. (Courier-Journal -- Business)
Whistler: Games end, fun begins Mar 9, 2010
It seems like almost all the 200 shops, 90 restaurants, dozens of hotels and an equal number of bars have been refurbished, remodeled or at least repainted for the global event, putting on their best face knowing the world is watching (ironically enough, because the developer, Intrawest, has been on brink of bankruptcy). And as an expensive nod to indigenous cultures, the 30,000-square-foot Squamish Lil'wat Cultural Centre opened in the village in time for the Games. (San Francisco Chronicle -- Travel)
Tropicana sale expected to close today Mar 9, 2010
Icahn bought the casino out of bankruptcy for $200 million 80 percent less than what it was expected to fetch before the recession hit ... In January, Icahn received regulatory approval to take control of nine Tropicana Entertainment LLC casinos in Nevada, Indiana, Louisiana and Mississippi as they emerged from a separate bankruptcy ... Now, he and banker Andy Beal are battling a group that includes Donald Trump to become the owners when that company emerges from bankruptcy. (Atlanta Journal-Constitution -- Travel)
Vaughan Co. moving forward with new board of directors Mar 9, 2010
For the past three decades, company founder Vaughan has been the only director, but the firm is reorganizing in a Chapter 11 bankruptcy that was filed Feb. 22 ... Vaughan stepped down as CEO following the bankruptcy ... Salazar said the company s Chapter 11 filing was not directly related to Vaughan s investment program, and blamed the softness in the residential real estate market for the bankruptcy. (New Mexico Business Weekly, NM)
Pension watchdog says Nummi plan underfunded Mar 9, 2010
Pastorius said PBGC could also ask the old GM to help address Nummi's pension shortfall, but because it is in bankruptcy, it is in a weaker position to get a settlement. Questions to Motors Liquidation were not answered by press time. (San Francisco Chronicle -- Business)
Chile's Peso Market May Have `Overshot' After Earthquake, De Gregorio Says Mar 9, 2010
Five months later, when Lehman Brothers Holdings Inc. filed for the biggest bankruptcy in U.S. history, he had boosted central bank reserves by a third to $24 billion from $18 billion in March. Wrong Bet. (Bloomberg)
General Growth Backers Add $3.9 Billion to Boost Brookfield's Revival Plan Mar 9, 2010
93 billion in the company, bolstering a plan with Brookfield Asset Management Inc. to bring the mall owner out of bankruptcy ... The proposal must be approved by General Growths board and the bankruptcy court, and better offers may still emerge, the company said ... The new plan would, if accepted, deliver substantially all of the cash required to fulfill the companys capital needs in connection with its emergence from bankruptcy and provide unsecured creditors with par plus accrued... (Bloomberg)
The Greek Debt Bubble Mar 9, 2010
Papandreou is fully aware that, as the German weekly Spiegel stated December 29, 2009, a national bankruptcy in a euro country could do tremendous damage to the currency ... Will Europe Allow a Greek Bankruptcy ... Wolfgang Reuter, Should the EU Save Athens from Bankruptcy. (Suite101.com)
La Crosse firm buys troubled Ariz. project Mar 9, 2010
All forward movement stopped when the lender, , took it back in 2008 shortly before that company was forced into Chapter 11 bankruptcy protection ... ML Manager is the court-approved entity administering the Mortgages Ltd. loan portfolio in the wake of the lender s bankruptcy ... Within a month of Coles death, several borrowers forced Mortgages Ltd. into Chapter 11 bankruptcy. (Milwaukee Business Journal, WI)
Credit Checks May Spell End for 3,000 Japanese Consumer Finance Companies Mar 9, 2010
which avoided bankruptcy in December after 65 of its creditors agreed to a reprieve on debt repayments, is cutting half its workforce, or 2,095 employees. said Jan. 28 it will cut 1,600 jobs and close all staffed branches. (Bloomberg -- Japan)
Quitclaim Won't Be Recorded Until City Specs Met Mar 9, 2010
Since that time, PR Development is believed to have filed for bankruptcy and is no longer around, according to city officials. The city also failed to collect escrow money that could have been used after the company failed to complete the work. (Missourian Publishing, MO)
Fairholme, Pershing to up General Growth Investment Mar 9, 2010
93 billion in the mall operator to help it emerge from bankruptcy, according to a person familiar with the matter. The transaction is part of a plan involving Brookfield Asset Management that would allow General Growth to remain an independent company instead of selling itself to its largest competitor, Simon Property Group Inc. (ABC News -- Wire)
Cadillac Plays Down GM Ties to Avoid Bankruptcy Stigma, Craft Own Identity Mar 9, 2010
Cadillac Distances Itself From GM to Escape Bankruptcy Stigma - Bloomberg ... Cadillac Distances Itself From GM to Escape Bankruptcy Stigma ... March 9 (Bloomberg) -- Cadillac, the luxury brand acquired in , is distancing itself from the Detroit-based automaker to avoid the stigma of the parent companys $50 billion U.S.-backed bankruptcy last year. (Bloomberg -- US)
Centaur files for Chapter 11 bankruptcy Mar 9, 2010
owners of the yet-to-open and racetrack in Lawrence County, has filed for Chapter 11 bankruptcy ... We have reached an agreement in principal with our first lien lenders and expect to file a plan with the courts in the near future with a target of successfully emerging from bankruptcy before the end of July, Centaur executive vice president and CFO Kurt Wilson said in a prepared statement. (Pittsburgh Business Times, PA)
Markets: After one year, is bull warming up ... or wearing out? Mar 9, 2010
"We haven't even (recouped all the losses) caused by the Armageddon scenario. We haven't even gotten back to 1250." That was where the S&P 500 was trading before the mid-September 2008 bankruptcy filing of Wall Street titan. an event that arguably triggered the financial crisis. (USA Today -- Money)
GM CEO Ed Whitacre demands more sales now, trade reports say Mar 9, 2010
CEO Ed Whitacre apparently isn't satisfied with GM's rebound from bankruptcy. He wants to prod sales, starting with lagging Cadillac, where the division head Bryan Nesbitt was sacked and sent back to the design staff. (USA Today -- Money)
Asian stocks follow metals prices lower Mar 9, 2010
The index has risen 74 per cent since March 9 last year, when it sank to its lowest level since the September 2008 bankruptcy filing of Lehman Brothers Holdings. Japan's Nikkei 225 Stock Average fell 0. (Sydney Morning Herald -- Business)
Sanborn Chevrolet to stay open Mar 9, 2010
The dealership received a "wind-down" letter from General Motors last year as part of the company's bankruptcy and reorganization. But the dealership was phoned Friday and told it would remain standing, said one dealership official Monday. (Lodi News Sentinel, CA)
Show and Transcript: March 8 Mar 8, 2010
But when it filed for bankruptcy last may, GM decided to close about 2,000 dealers. However, a lot of them are fighting to stay open through a process called arbitration. (CNN -- US)
Foreclosed Borrowers May Get Loans Again Mar 8, 2010
Because bankrupt borrowers have eliminated their debts, they should "constitute attractive fodder for mortgage lenders," says University of Michigan law professor John Pottow, whose specialty is bankruptcy. As home prices and the mortgage market stabilize, lenders will be motivated to lend to people who previously had financial troubles if they look like they can pay the next time around, says Alan Riegler, a consultant with CCG Catalyst, which advises banks. (Realtor Magazine Online)
De Gregorio Says Peso Market Might Have `Overshot' on Chilean Earthquake Mar 8, 2010
Five months later, when Lehman Brothers Holdings Inc. filed for the biggest bankruptcy in U.S. history, he had boosted central bank reserves by a third to $24 billion from $18 billion in March. Still, by cheapening the peso, the strategy drove up import prices in Latin Americas most trade-dependent economy, pushing the annual inflation rate up to a 14-year high of 9. (Bloomberg)
Vineyard Defaults Surge as Lost California Land Values Undermine Napa Wine Mar 8, 2010
In December, he acquired 21 acres next door known as Diamond Oaks Winery from businessman , owner of two separate Napa parcels that are facing foreclosure, according to county land records and documents in U.S. Bankruptcy Court in Santa Rosa, California ... Harlan, maker of Napas Harlan Estate Proprietary Red, acquired 21 acres next to his estate in December from businessman Dinesh Maniar, whose company owns two separate Napa parcels that are facing foreclosure, according to county land... (Bloomberg)
Retired workers seek pay from bankrupt Ala. city Mar 8, 2010
(AP) - Retired workers for the city of Prichard are hoping a bankruptcy judge will force the Mobile County city to give them their retirement checks ... A month later, Prichard filed for Chapter 9 bankruptcy and halted payment to the retired workers ... Before the bankruptcy, the pension plan paid out $150,000 each month. (WSFA.com, AL)
General Growth gets court extension Mar 8, 2010
A bankruptcy judge has given shopping mall owner a four-month extension to file its reorganization plan ... We are looking forward to emerging from bankruptcy as soon as reasonably possible and we are committed to continuing to work hard to achieve the best outcome for all of our stakeholders ... Last month, General Growth said it had with a Canadian property-management firm that will allow it to exit bankruptcy. (Birmingham Business Journal, AL)
Pre-Qualifying for a Mortgage Mar 8, 2010
Any bankruptcy on record must be at least two years old with good credit for the two consecutive years. Any foreclosure must be at least three years old with good credit for the past three years. (RealtyTimes)
Blockbuster hits Mar 8, 2010
The source said the bank's sales book lays out two scenarios: an agreement with creditors as part of a pre-packaged bankruptcy or an out-of-court restructuring. Keyes said he does speak with some of the company's lenders, but has not had any formal talks with them about restructuring. (New York Post -- News)
Coyotes see uptick in fan attendance Mar 8, 2010
The team could have moved to Canada in the offseason while they were in Chapter 11 bankruptcy. The Coyotes even are promoting Stanley Cup playoff ticket deals to season ticket holders. (Phoenix Business Journal, AZ)
North Shore Musical Theatre takes popular approach to comeback season Mar 8, 2010
6 million from Citizens Bank, which had acquired it at a bankruptcy auction. Hanney also owns Theatre by the Sea in Rhode Island and a chain of 10 New England multiplexes. (Boston Globe)
