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Opinion: Bankruptcy Is Not an Option

Most American governors and mayors, whether Democratic or Republican, are faced with the daunting task of balancing their budgets after a long and deep recession and a sluggish economic recovery. And increasingly, they are considering declaring bankruptcy as a way out. Indeed, the B-word is being discussed in...

Borders Bankruptcy: 5 Ways the Mega-Chain's Demise Will Affect the Country

It's a chapter no one wants to read. The Borders bookstore chain has filed for Chapter 11 bankruptcy protection, saying it holds $1.28 billion in assets and $1.29 billion in debt. Although it could not reach agreements with its creditors, the company was able to arrange $505 million in reorganization financing. Surge...

Stocks Hit Highest Level Since Lehman Bros. Bankruptcy

(Nov. 4) -- Are the bulls back? The Dow Jones industrial average today rose to its highest level since Lehman Brothers Holdings Inc. filed for bankruptcy in 2008, at the height of the U.S. financial crisis, The Wall Street Journal reports. U.S. stocks rose by 219 points, or 2 percent of total volume, in trading at the...

ACORN Filing for Bankruptcy

(Nov. 2) -- Talk about timing. As millions of Americans headed to the polls to vote today, the Association of Community Organizers for Reform Now, aka ACORN, announced that it was filing for bankruptcy. The news came in the form of a letter written by Bertha Lewis, ACORN's CEO, that was posted to the group's website. "We...

Crystal Cathedral Megachurch Files for Bankruptcy

GARDEN GROVE, Calif. (Oct.19) -- Crystal Cathedral, the megachurch birthplace of the televangelist show "Hour of Power," has filed for bankruptcy in Southern California after struggling to emerge from debt that exceeds $43 million. In addition to a $36 million mortgage, the Orange County-based church owes $7.5 million to...

bankruptcy News From AOL

THE HUFFINGTON POST - TECHNOLOGY

Wireless Startup Files For Bankruptcy

LightSquared, the wireless startup backed by hedge fund manager Philip Falcone, on Monday filed for Chapter 11 protection.

AOL MONEY & FINANCE

Residential Mortgage seeking Chapter 11 protection

NEW YORK -Ally Financial Inc. says its mortgage division known as ResCap is seeking Chapter 11 bankruptcy protection.

bankruptcy News From the Web

05/30/12 Report: Hostess Liquidation Could Result in Shutdowns,... Source: Boise Weekly - Boise ID Texas-based Hostess Brands, which filed for Chapter 11 bankruptcy in January, sent out notices to each of its 18,500 United States employees this month warning of layoffs at facilities across the country, including Idaho.
05/29/12 Bankrupt nuclear waste firm Impact Services gets... Source: Telegram & Gazette - Worcester MA Impact Services Inc., the bankrupt nuclear waste processor storing 1 million pounds of scrap radioactive material at its Oak Ridge, Tenn., facility, was told to produce missing financial documents by next week.
05/29/12 Dewey & Leboeuf Files For Chapter 11 Bankruptcy... Source: Daily Intelligencer Large New York-based corporate law firm Dewey & LeBoeuf LLP finally crumbled under the pressure of debt , filing for Chapter 11 bankruptcy protection in federal district court Monday evening.
05/28/12 Bankrupt Nuclear Waste Firm Impact Services Gets... Source: Bloomberg.com Impact Services Inc., the bankrupt nuclear waste processor that is storing 1 million pounds of scrap radioactive material at its Oak Ridge , Tennessee, facility, was told to produce missing financial documents by next week.
05/23/12 Jackson Green's case to be converted Source: TheDeal.com by Hayley Kaplan | Published May 23, 2012 at 4:08 PM Jackson Green LLC's bankruptcy case will be converted to a Chapter 7 proceeding after the company sold its Chicago properties to its noteholder.