Bankruptcy
hideBankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay its creditors. Creditors may file a bankruptcy petition against a debtor ("involuntary bankruptcy") in an effort to recoup a portion of what they are owed or initiate a restructuring. In the majority of cases, however, bankruptcy is initiated by the debtor (a "voluntary bankruptcy" that is filed by the insolvent individual or organization).
For more information about Bankruptcy, read the full article at
Wikipedia.
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News tagged with bankruptcy
US newspaper circulation slide accelerates
Oct 26, 2009 |
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Daily circulation figures for US newspapers released on Monday provided more bad news for an industry battling the flight of readers to the Web and battered by a steep decline in advertising revenue.
FairPoint phone company files for bankruptcy
Oct 26, 2009 |
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(AP) -- Telecommunications services provider FairPoint Communications filed for Chapter 11 bankruptcy protection Monday after agreeing on a deal with key lenders that will help lower its debt by about 62 percent.
Ciena bids $521M for Nortel business units
Oct 07, 2009 |
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(AP) -- Ciena Corp. is offering cash and stock worth $521 million to acquire some of Nortel's most-prized remaining business units as the fallen telecommunications company continues to liquidate.
LA Times, Washington Post breaking up news service
Oct 01, 2009 |
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(AP) -- The Los Angeles Times and The Washington Post are breaking up their news service after 47 years, making it the latest casualty of the media upheaval driven by the array of alternative information and entertainment ...
Simmons plans to file for bankruptcy protection
Sep 25, 2009 |
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(AP) -- Simmons Co., the maker of Beautyrest mattresses, said Friday that it plans to file for Chapter 11 bankruptcy protection in a move that will put new owners in charge of the bedding unit and significantly lower the ...
Pirate Bay suitor served with bankruptcy petition: court
Sep 18, 2009 |
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Pirate Bay suitor Global Gaming Factory has been served with a bankruptcy petition, a Stockholm court official said on Friday, after a former board member filed a complaint over unpaid debts.
US, Canadian judges approve Nortel bankruptcy sale
Sep 16, 2009 |
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(AP) -- Nortel Networks Inc. won approval Wednesday from judges in Delaware and Ontario for the $900 million sale of a Nortel unit that makes communications systems for businesses.
Ownership of Unix copyright headed to trial
Aug 25, 2009 |
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(AP) -- A federal appeals court on Monday reversed a judge's decision that granted the copyright of the Unix computer operating system to Novell Inc.
GM to launch plug-in hybrid SUV in 2011
Aug 07, 2009 |
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General Motors will launch a plug-in hybrid sport utility vehicle under the Buick brand in 2011, the automaker said Thursday.
Courts OK $1.13B sale of Nortel assets to Ericsson
Jul 28, 2009 |
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(AP) -- U.S. and Canadian courts have approved Swedish wireless company LM Ericsson's $1.13 billion bid to buy next-generation wireless technology and other assets from insolvent telecom equipment maker Nortel Networks Corp.
Nortel strikes deal to sell business unit to Avaya
Jul 20, 2009 |
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Canadian telecom equipment maker Nortel said Monday it reached a deal to sell its enterprise solutions business to US-based Avaya for 475 million dollars pending approval of a bankruptcy court.
General Motors to try selling new cars on eBay
Jul 10, 2009 |
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(AP) -- As part of its turnaround plan, General Motors Corp. said Friday it plans to experiment with auctioning new cars on eBay, expanding on an existing partnership covering certified used vehicles on the online marketplace.
London 2012 replaces sponsor Nortel with Cisco
Jul 10, 2009 |
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(AP) -- London Olympic officials on Friday replaced bankrupt Canadian technology sponsor Nortel Networks with Cisco for the 2012 Games, a move that will cost organizers $19.4 million in revenue.
Unclear what happens to personal info with Clear
Jun 27, 2009 |
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(AP) -- More than a quarter million people are wondering what will happen to their fingerprints, Social Security numbers, home addresses and other personal information now that a company that sped them through ...
Study: Bankruptcy rates reflect policy, not people
Jun 22, 2009 |
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What do high bankruptcy rates in states like Tennessee and Utah tell us about the people that live in those places? Not much, according to a new 50-state bankruptcy study published in the latest issue of the Journal of La ...
