Rest easy, Twinkie lovers: Hostess Brands, the storied American manufacturer of snack cakes, filed for Chapter 11 bankruptcy Wednesday, but said it will continue to churn out Ho Hos, Ding Dongs and other iconic products.
Lehman Brothers' bankruptcy estate filed suit against JPMorgan Chase Wednesday, alleging that the bank demanded billions of dollars more than it needed in the firm's final days contributing to Lehman's ultimate demise.
The Pennsylvania swim club accused of discriminating against minority children over the summer has filed for bankruptcy, according to the U.S. Bankruptcy Court for the Eastern District of Pennsylvania.
A U.S. bankruptcy judge Thursday ordered Peanut Corporation of America's insurance carrier to set aside $12 million to reimburse people for health complications that resulted from eating tainted peanut products.
Sentinel Management Group Inc., the cash management firm that filed for Chapter 11 protection last week and was subsequently hit with civil fraud charges by U.S. regulators, has asked the judge overseeing its bankruptcy to appoint an independent trustee.
Trying to fend off a hostile bid from US Airways Group, Delta Air Lines is close to presenting a reorganization plan to the bankruptcy court that will estimate its value as an independent company at between $10 billion to $12 billion, according to a published report.
Commencement last week of a trial in U.S. Bankruptcy Court in Chicago on whether to void the current labor contracts of two unions representing workers at UAL Corp.'s (UALAQ) United Airlines appeared to have jump-started parallel negotiations between the airline and its mechanics, ramp workers and customer-service agents.
After running smoothly for 15 months, the bankruptcy proceedings of United Airlines parent UAL Corp. (UALAQ) have encountered turbulence that is setting back the company's schedule for emerging from court protection by June 30, people familiar with the matter told The Wall Street Journal.