Bankruptcy

  • August 21, 2006

    Logging Co. Files For Ch. 11 With $264M In Liabilities

    Inland Fiber Group LLC filed for Chapter 11 protection Friday, though it also submitted a prenegotiated reorganization plan that it hopes will be approved by the end of the year.

  • August 21, 2006

    Adelphia To Shell Out Less Collateral

    Adelphia Communications Corp. has reached an agreement with Travelers Casualty & Surety Co. of America that will significantly reduce the amount of collateral it must pay for bonds that back up its insurance policy.

  • August 21, 2006

    Silicon Graphics To Retain Paul Hastings

    Silicon Graphics Inc. has requested permission to hire Paul, Hastings, Janofsky & Walker LLP to act as its special intellectual property counsel.

  • August 21, 2006

    London Fog Lets Go Of Trademark

    Still selling off its assets, bankrupt rainwear maker London Fog Group Inc. has unloaded its famed trademark, with Iconix Brand Group Inc. snapping up the recognizable brand for $30.5 million in cash and $7 million in stock.

  • August 18, 2006

    Oneida Asks For Exclusivity Extension

    Trying to buy time in case its reorganization plan is not confirmed, flatware maker Oneida Ltd. filed a motion on Thursday asking to retain exclusive control over its bankruptcy case for 45 more days.

  • August 18, 2006

    Investment Firms Offer Loan Deal To SeraCare

    A group of investment firms has agreed to infuse bankrupt SeraCare Life Sciences Inc. with a $15 million loan, which the company plans to use to repay its senior creditors.

  • August 18, 2006

    Eurotunnel Preparing To Dispatch Creditor Invitations

    In a precedent-setting move under France’s revised safeguard procedure, the administrators of the embattled channel tunnel operator are planning to invite creditors to join a bank debt holder committee.

  • August 18, 2006

    Tower Deadline Extended For Sixth Time

    A bankruptcy court has pushed back the deadline for Tower Automotive Inc.’s reorganization plan, marking the sixth time the bankrupt auto parts maker has been granted an extension in its Chapter 11 proceedings.

  • August 18, 2006

    Delta’s Bid To Toss Pensions Comes Under Fire

    Weeks after Delta Air Lines asked a federal bankruptcy court for approval to terminate its pilots’ pension plans, a group of retired pilots is lashing out against the bid, saying the embattled carrier is trying to avoid its obligation to shell out settlement proceeds.

  • August 18, 2006

    Adelphia Noteholders Want End To Exclusivity

    Adelphia Communications Corp. noteholders are seeking an end to the company’s exclusivity and demanding the chance to contribute to its reorganization plan.

  • 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.