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
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 ...
Reckless Spending, Not Illness or Job Loss, Causes Most Bankruptcy
Aug 29, 2008 |
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(PhysOrg.com) -- Simple overspending has driven most personal bankruptcies in recent years, a change from previous decades when illness and unemployment were major factors, concludes a new study from the University of California, ...
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 ...
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.
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.
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.
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.
Struggling generations: Bankruptcies among seniors soaring
Jul 23, 2008 |
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(PhysOrg.com) -- The rates of personal bankruptcies have declined among young people while soaring among older Americans, a new study shows.
Fallen star SGI to sell most assets for $25M
Apr 01, 2009 |
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(AP) -- Silicon Graphics Inc. will sell the remaining shreds of its fraying franchise to Rackable Systems Inc. for $25 million, punctuating the downfall of a former high-tech star that once dazzled investors and customers ...
Job loss can make you sick, new study finds
May 08, 2009 |
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In the face of rising unemployment and businesses declaring bankruptcy, a new study has found that losing your job can make you sick. Even when people find a new job quickly, there is an increased risk of developing a new ...
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 ...
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.
DirecTV sued over ads on Charter's bankruptcy case
May 12, 2009 |
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(AP) -- Charter Communications Inc. is suing DirecTV Group Inc. over advertisements that try to persuade subscribers to switch TV service by touting Charter's bankruptcy filing.
Chicago Sun-Times owner files for bankruptcy
Mar 31, 2009 |
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The Sun-Times Media Group Inc., owner of the Chicago Sun-Times and other newspapers, filed for bankruptcy protection on Tuesday, the latest victim of the crisis gripping the US newspaper industry.
Madoff's tickets bid to $2,375 on eBay
Apr 11, 2009 |
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(AP) -- Bernard Madoff is still making a market - at least his Citi Field seats are.
