Bankruptcy

  • August 18, 2006

    Shareholders Take Aim At Riverstone’s General Counsel

    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.

  • August 17, 2006

    President Bush Signs Pension Reform Bill

    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.

  • August 17, 2006

    Winn-Dixie Asks Judge To Add Minutes To Clock

    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.

  • August 17, 2006

    Court Allows Delta To Buy United's NY-London Route

    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.

  • August 17, 2006

    Northwest Flight Attendants Can Strike, Judge Says

    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.

  • August 17, 2006

    After 15 Years, Pan Am Bankruptcy Nears End

    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.

  • August 16, 2006

    SGI Seeks To Retain Ernst & Young In Bankruptcy Case

    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.

  • August 16, 2006

    Congoleum Submits Amended Reorganization Plan

    Congoleum Inc. has filed an amended plan of reorganization in its Chapter 11 proceedings, bringing the flooring company one step closer to exiting bankruptcy.

  • August 16, 2006

    Silicon Graphics Bids For Chapter 11 Control

    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.

  • August 16, 2006

    Judge Allows Bankrupt Calpine To Settle Some Claims

    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.

  • August 16, 2006

    Bayer Seeks To Block St. Vincent Rejection of Leases

    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.

  • August 16, 2006

    Sypris Puts Pressure On Dana In Contract Dispute

    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.

  • August 15, 2006

    Meridian Scores Extension Of Exclusivity Periods

    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.

  • August 15, 2006

    Delphi Gives SEC Permission To Extend Probe Deadline

    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.

  • August 15, 2006

    Trustee For Refco Unit Urges Judge To Bless Settlement

    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.

  • August 15, 2006

    Solutia Seeks Stay, Committees Object

    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.

  • August 15, 2006

    Penthouse Founder’s Suit Remanded To State Court

    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.

  • August 15, 2006

    Collins & Aikman’s Creditors Request Investigation

    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.

  • August 14, 2006

    Dana’s Incentive Plan Draws Fire From Creditors

    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.

  • August 14, 2006

    Adelphia Noteholders Bid To Have Documents Unsealed

    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.