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
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News tagged with bankruptcy
Stern's threat to quit Sirius could be empty talk
Dec 21, 2009 |
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(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.
US newspaper ad revenue down nearly 28 percent
Nov 20, 2009 |
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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.
Financial restructuring in fresh-start chapter 11 reorganizations
Nov 30, 2009 |
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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 ...
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.
Private equity firms win battle for bankrupt Polaroid
Apr 17, 2009 |
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Bankrupt Polaroid Corp. has been bought by a pair of private equity firms after a judge threw out the acquisition of the iconic inventor of instant photography by another investor.
Illness, medical bills linked to nearly two-thirds of bankruptcies
Jun 04, 2009 |
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Medical problems contributed to nearly two-thirds (62.1 percent) of all bankruptcies in 2007, according to a study in the August issue of the American Journal of Medicine that will be published online Thursday. The data w ...
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.
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 ...
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.
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.
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.
Research: No evidence for 'too big to fail' policies
Apr 24, 2009 |
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The U.S. economy would be better served by letting failing firms file for bankruptcy rather than by bailing them out under presumptive federal policies that deem them to be "too big to fail," according to ...
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 ...
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 ...
Nortel to sell itself off in pieces
Jun 20, 2009 |
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(AP) -- Nortel Networks, once a technology giant, has decided to sell itself off in pieces rather than attempt to emerge from bankruptcy as a restructured company.
