MF Global, a trader in commodities and derivatives brought down by bad bets on Europe, filed for bankruptcy protection on Monday, leaving behind more than $2 billion in debt to some of Wall Street's biggest players.
American Airlines' parent company has filed for Chapter 11 bankruptcy protection. CNN's Richard Quest reports.
American Airlines parent AMR, one of the few major U.S. airlines to avoid bankruptcy, finally succumbed Tuesday and filed for chapter 11.
The Los Angeles Dodgers filed for bankruptcy court protection early Monday, less than a week after Major League Baseball blocked the team from signing a new television deal to provide it with the cash it needed to meet the team's payroll.
Sbarro Inc., a pizza and pasta fast-food chain popular in malls and airports, said Monday that it has filed for Chapter 11 bankruptcy protection.
Gift basket retailer Harry & David Holdings, known for its Fruit of the Month Club and the popcorn snack Moose Munch, filed for Chapter 11 bankruptcy protection Monday.
MGM has filed for Chapter 11 bankruptcy protection as part of a "pre-packaged" plan with creditors, the movie studio said Wednesday.
American Media, the publisher of the National Enquirer, announced plans Monday to file Chapter 11 later this month.
Unsecured creditors of Lehman Brothers may have choked last week when Harvey Miller, the lead attorney on the bank's bankruptcy, told Congress that the final bill to unwind its sprawling claims would likely hit $2 billion and take two more years to settle. He also said some of those creditors might only collect twenty cents on the dollar for approved claims.
Cities and other municipalities are in a world of budgetary hurt. Is a wave of bankruptcies on the way?
CIT Group Inc., one of the nation's leading funders of small and medium-sized businesses, filed for the fifth largest bankruptcy by assets in U.S. history Sunday as part of a reorganization plan that has the support of an overwhelming majority of debtholders.
Small business lender CIT Group got a hand Friday from a most unlikely source: a billionaire activist investor who has spent the past month trying to foil the company's restructuring plans.
General Motors' plan to restructure, with a lot of help from the federal government, has been approved by a bankruptcy judge.
Eddie Bauer Holdings Inc. filed for Chapter 11 bankruptcy protection Wednesday, citing an inability to pay back debt.
General Motors has been pretty active in its first two weeks as a bankrupt company.
A top Obama administration lawyer urged the Supreme Court on Monday to allow Chrysler's bankruptcy to proceed, noting that the needs of the economy outweigh the needs of the deal's detractors.
A bankruptcy judge has approved the sale of most of Chrysler's assets to a group led by Italian automaker Fiat, clearing the way for the automaker to emerge from Chapter 11 protection soon.
General Motors, the nation's largest automaker and for decades an icon of American manufacturing, stood on the brink of a bankruptcy filing and a de facto government takeover on Monday.
CNN's Maggie Lake examines General Motor's storied past as it heads into an uncertain future.
Bankrupt automaker Chrysler LLC "went around the world" searching for a business partner but only Italy's Fiat was willing to strike a deal after last year's economic tumble, a former Chrysler executive told a federal judge Wednesday.
The next seven days could be the most important in the history of the U.S. auto industry.
Wednesday is judgment day for Chrysler and hundreds of auto dealers, when their fate could be decided in bankruptcy court, but some experts think it's already a done deal.
Chrysler LLC is seeking a quick resolution to its bankruptcy filing so it can move ahead with its merger.
Thursday afternoon, Chrysler filed for Chapter 11 bankruptcy. So what does that mean for you if you've got a Chrysler parked out in the driveway?
Why should U.S. taxpayers give General Motors another $16 billion in aid? After all, just two months ago the ailing carmaker claimed the first $13 billion would do the trick.
It's not often that a company with a stock trading for just six cents a share makes headlines. But when that company just happens to be the employer of Howard Stern, you can understand why it's in the news.
Bankruptcy filings rose 30% during the government's 2008 fiscal year, which ended Sept. 30, according to figures released Monday by the Administrative Office of the U.S. Courts.
The world changed forever on Sept. 15, 2008, the Monday Meltdown, a day that will live in the annals of finance alongside Black Tuesday, Oct. 29, 1929. We are still odds-on to avoid a depression like the one that followed Oct. 29, but the Monday Meltdown made one more likely, and has claimed trillions of dollars of wealth worldwide and triggered a global recession. Understanding the financial shock that occurred that day is vital to finding a way out of our current mess.
At close to midnight, Mark Shafir, Lehman's global head of M&A, and Mark Shapiro, the head of Lehman's restructuring practice, went to see Fuld in his 31st floor office. They told Fuld there was a way Barclays could buy Lehman's U.S. securities business out of bankruptcy, which would get Barclays what it really wanted and potentially save 10,000 jobs.
Back uptown, at Lehman, Fuld and McDade were making frantic calls to whoever would listen to their pleas for help, including Paulson, Cox and Geithner. "But it crystallized in the course of the afternoon that it didn't look like they were going to do anything for us," a senior Lehman official said, despite Fuld's belief after having dinner with Paulson in April that "we have huge brand with [T]reasury."
It worked for the airlines, but it might not work for General Motors. Saving the company through bankruptcy is probably not a viable option for the troubled automaker.
President-elect Barack Obama has been holding his economic cards close to his vest. He did not participate in person at last weekend's meeting of G20 leaders.
As some of the world's largest banks teetered on financial demise, college seniors and recent alums had more on their minds than what it meant for their financial aid and student loans.
Lehman Brothers employees face the bleakest employment conditions in recent Wall Street history, and experts say there will likely be more painful financial sector job losses to come.
A federal judge denied Thursday Bear Stearns Cos. bankruptcy protection for two failed hedge funds it managed, but granted the investment bank 30 days to refile before investors can seize assets.
Biggest Thanks to high oil prices, Exxon Mobil again set a profit record.
Exxon Mobil (No. 2) had a record $39.5 billion profits, which is impressive enough. Even more remarkable is that its earnings grew $3.4 billion in 2006, while Royal Dutch Shell (No. 3) had only a small increase, and BP (No. 4) saw profits fall. Russian gas giant Gazprom (No. 52) grew its profits 37%, to $20.3 billion.
Delta Air Lines emerged from bankruptcy early Monday as a leaner but still independent carrier after a 19-month reorganization that saw it fight off a $10 billion hostile takeover.
New Century Financial Corp. said Monday it will immediately cut 3,200 jobs, or 54 percent of its work force, as part of its Chapter 11 bankruptcy reorganization.
Low-cost startup airline Flyi Inc. announced Monday that its parent company, Independence Air, has filed for Chapter 11 bankruptcy protection.
WILBUR ROSS WELL REMEMBERS THE days when bankruptcy meant death. "When I started doing this, when a company went bankrupt, everyone would hang their heads in shame," he recalls of the late 1970s. N...
Auto parts maker Delphi said Saturday it filed for bankruptcy after warning for months that a filing was in the cards.
The airline industry's five-year financial crisis came to a head Wednesday evening as Delta Air Lines and Northwest Airlines, two of the nation's largest carriers, both filed for bankruptcy.
Delta Air Line employees, creditors and investors are all likely to take hits if the No. 3 U.S. airline files for bankruptcy, but few passengers will see their travel plans, or prices, affected by the court action.
Changes in the bankruptcy law could force more companies seeking protection from creditors to close and could prompt a rush to file under the existing law, according to a published report.
Bankrupt grocery chain Winn-Dixie said Tuesday it would close about a third of its 913 stores and cut 22,000 jobs as part of a plan to restructure and emerge from bankruptcy.
A recent study says business bankruptcy rates are up to nine times higher than the government claims and also asserts that the new bankruptcy law may further hinder entrepreneurship, a newspaper said Wednesday.
US Airways and America West Airlines Holdings Corp. (AWA) are in advanced merger talks to create a national low-cost airline rivaling discount king Southwest Airlines Co. (LUV) in size, say people familiar with the matter.
NEW YORK (CNN/Money) - Those who are least able to pay their bills are likely to see a price hike in the coming months if they file for bankruptcy.
Interstate Bakeries, maker of Wonder Bread and Twinkies, filed for bankruptcy court protection early Wednesday.
US Airways Group headed to bankruptcy court Monday to seek permission to keep flying during its second bankruptcy filing in two years.
US Airways Group filed for bankruptcy protection Sunday for the second time in two years.
US Airways Group made a new last-ditch proposal for concessions to its pilots' union Friday, a news agency reported, as the nation's No. 7 airline struggles to avoid a bankruptcy filing that could be just days away.
Joe Rice is smokestack industry's new best friend. That's an unaccustomed role for Rice, since he is the co-leader of Motley Rice (formerly Ness Motley), the most feared asbestos/tobacco/mass-tor...
US Airways faces a serious risk of going out of business, according to some leading airline analysts, despite claims by the CEO of the nation's No. 7 airline that no liquidation is imminent.
Delta Air Lines may need to file for Chapter 11 bankruptcy protection if it is unable to create a more competitive structure, the company said in a regulatory filing Monday.
Each weekday morning at eight, Wilbur Ross and his team of analysts gather around the conference table in their midtown Manhattan offices to go over what Ross calls his "shopping list." On that lis...
When the nation's no. 1 carrier, United Airlines, tried to buy US Airways in 2000, it seemed more like a mercy killing than a merger. US Airways was a weak No. 6, with poor prospects as an independ...
If you didn't know any better, you'd almost feel sorry for James Adamson, CEO of beleaguered, bankrupt Kmart. Despite laying off 22,000 employees and closing hundreds of stores so far this year, th...
FSB: Gains & Lossesupdated: Mon Apr 01 2002 00:01:00
Chapter 11 Hardship Pay
"You indicated that you walked three or four miles a day?" a defense lawyer asked plaintiff James Curry this past October in a rural courthouse in Lexington, Miss.
Aaron Feuerstein's 96-year-old family company, Malden Mills, is known for two things: Polartec and compassion. When a 1995 fire devastated the Lawrence, Mass., factory, Feuerstein became a hero by ...
Thus far, 2002 has produced no shortage of unusual spectacles: Chelsea Clinton's glam Versace makeover, models and economists mingling at the World Economic Forum in New York City, and Virgin Recor...
Thirteen years ago, John Peterman walked into the office of New York marketing consultant Don Staley wearing a floor-length duster coat he'd bought in Wyoming. Staley had never seen Peterman lookin...
THE UNITED STATES of America is a great place to go broke. Any business in this bighearted country, whether insolvent or not, is free to shortchange its creditors while enjoying the full favor and ...
Filing for protection from creditors under the bankruptcy code used to be akin to contracting a social disease. Not anymore. Says Thomas J. Salerno, a partner at Streich Lang, the Phoenix law firm ...
AS IT STRUGGLES to avert bankruptcy, Public Service of New Hampshire finds its fate largely in the hands of a small group of investors who were attracted to the company precisely because of its fin...
JUST THINK what they must be saying in Tokyo. Or Paris. Or Riyadh. 'Strange people, those Americans. Fighting for their competitive lives, they need strong companies. They also need oil, every drop...
FOR YEARS Thomas Stephens seemed destined to play permanent second fiddle to Josh Hulce at Manville Corp., the building-supply giant and onetime producer of asbestos. But events in late April abrup...
To hear Martin Whitman tell it, some of the safest and highest-yielding securities around are those of companies in deep trouble or even the bankruptcy courts. Whitman heads the New York investment...
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