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.
This text uses material from Wikipedia and is available under the GNU Free Documentation License.
News tagged with bankruptcy
Stern's threat to quit Sirius could be empty talk
Dec 21, 2009 |
not rated yet |
0
(AP) --Howard Stern is threatening to leave Sirius XM Radio Inc. now that the shock jock and the satellite radio provider are getting set to enter contract talks in 2010.
Financial restructuring in fresh-start chapter 11 reorganizations
Nov 30, 2009 |
not rated yet |
0
The effectiveness of the existing bankruptcy code has long been a source of vigorous debate. More and more lately, high-profile firms like General Motors, Enron, and K-Mart are seeking protection from creditors through Chapter ...
US newspaper ad revenue down nearly 28 percent
Nov 20, 2009 |
not rated yet |
1
US newspaper advertising revenue fell by nearly 28 percent in the third quarter, continuing a slide which has led to layoffs, bankruptcies and the closure of several dailies.
US newspaper circulation slide accelerates
Oct 26, 2009 |
4 / 5 (1) |
0
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 |
not rated yet |
0
(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 |
not rated yet |
0
(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 |
not rated yet |
0
(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 |
not rated yet |
0
(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 |
not rated yet |
0
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 |
not rated yet |
0
(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 |
2.3 / 5 (4) |
2
(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 |
3 / 5 (4) |
4
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 |
not rated yet |
0
(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 |
not rated yet |
1
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 |
not rated yet |
2
(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.
