The shareholders of Riverstone Networks Inc. have accused the company’s former general counsel of trying to block an investigation into alleged potential wrongdoing committed by the telecommunications equipment maker’s top executives.
U.S. President George W. Bush signed into law a pension reform bill on Thursday that is designed to close loopholes in the pension system, and particularly offers relief for employees at bankrupt Northwest Airlines Corp. and Delta Air Lines Inc.
Southern supermarket giant Winn-Dixie Stores Inc. has asked the presiding judge in its Chapter 11 bankruptcy proceedings to extend a deadline, hoping for more time to woo creditors to accept its reorganization plan.
A judge has cleared the way for Delta Air Lines Inc. to purchase United Airlines Inc.’s right to fly between New York and London, and ruled that Delta can hold on to that right after it exits bankruptcy.
Flight attendants for Northwest Airlines have the right to strike in response to the company’s failure to agree on a collective bargaining agreement, a federal bankruptcy judge ruled Thursday.
Pan Am World Airways’ 15-year stay in bankruptcy may soon draw to a close. As soon as the airline receives a $30 million payment from the government of Libya, it will finally pay off the last of its creditors.
Silicon Graphics is looking for help to provide financial transition services as the company prepares to emerge from Chapter 11 bankruptcy protection, according to court filings.
Congoleum Inc. has filed an amended plan of reorganization in its Chapter 11 proceedings, bringing the flooring company one step closer to exiting bankruptcy.
Three weeks after a federal bankruptcy judge approved Silicon Graphics Inc.’s disclosure statement, the high-performance computer maker is seeking to retain control over its Chapter 11 case while creditors vote on its reorganization plan.
A judge has given bankrupt Calpine Corp. the authority to settle threatened and actual claims or lawsuits against the bankrupt energy giant if they are valued at $2 million or less.
Bayer Corp. has asked a bankruptcy court to deny the bid by Saint Vincent Catholic Medical Centers of New York to retroactively reject two equipment leases it has with the creditor.
Sypris Technologies Inc., which provides over $200 million in parts a year to Dana Corp., wants a decision regarding its multi-million dollar contracts with the bankrupt auto parts supplier.
Less than a month after a federal bankruptcy judge gave the green light to Meridian Automotive Systems Inc.’s third amended disclosure statement, the auto parts maker has gained court approval for an extension to its exclusive filing and solicitation periods.
Troubled auto-parts company Delphi Corp. said on Tuesday that it agreed to extend the U.S. Securities and Exchange Commission’s investigation of the company from its original date in April to Oct. 31.
The court-appointed administrator for bankrupt Refco Inc.’s unit Refco Capital Markets has urged a judge to ignore creditors’ objections and approve a settlement deal that would pave the way for the company to emerge from bankruptcy.
An attempt to thwart a lawsuit against a former parent company of bankrupt chemical products maker Solutia Inc. has inspired vehement objections from both Solutia’s official equity holders committee and the ad hoc committee of noteholders.
A case brought by the founder of Penthouse magazine against his former company alleging that it stripped him of millions and conspired to defraud him after it went bankrupt has been remanded to state court.
The creditors committee for Collins & Aikman Corp. is looking to investigate Ford Motor Co. and General Electric Capital Corp. for tortuous interference of contract with regard to the bankrupt auto parts supplier’s Hermosillo plant.
Creditors of Dana Corp. said Monday that the auto parts supplier’s executive bonus plan could create a “windfall” for six top executives if they are able to direct the company to slash workers’ retirement benefits.
Adelphia Communications Corp.'s noteholders have requested that certain court documents be unsealed, arguing that transparency and creditor participation will help the company emerge from bankruptcy.