Three weeks after Adelphia Communication Corp. vowed to sell its assets to Time Warner Inc. and Comcast Corp., the bankrupt company’s unsecured creditors are lashing out against the plan for fear it will lesson their debt recovery.
With $125 million in exit financing under its belt, Heating Oil Partners LP is preparing to emerge from Chapter 11 in July, less than a year after high oil prices drove the company to insolvency.
The story of building material maker USG Corp.’s epic journey through Chapter 11 should have a happy ending, after the company won court approval for its reorganization plan Thursday.
As Entergy New Orleans Inc. continues to struggle to regain its footing after Hurricane Katrina, the Louisiana state senate has approved legislation that would enable the beleaguered power company to seek a city takeover if a federal bailout does not succeed.
A U.S. trustee is asking a judge to keep notorious rap figure Marion "Suge" Knight from controlling bankrupt Death Row Records after the mogul admitted to not looking at the label's checkbook for 10 years.
As a Brazilian judge considers the sale of bankrupt airline Varig, rumors of bailouts and other interested investors swirled more quickly than a jet engine.
The Federal Energy Regulatory Commission (FERC) is close to ruling on a controversial settlement that would require two small utilities to pay bankrupt Enron Corp. more than $50 million for electricity the energy company does not plan to deliver.
Northwest scored another minor victory in its lengthy bankruptcy case on Wednesday when a court approved around $550 million in wage and benefit concessions from the airlines’ pilots, baggage handlers and ground workers, none of which will go into effect until the airline works out a deal with flight attendants.
Less than two years after being slapped with securities fraud charges, Adelphia Communications Corp. founder John Rigas and his son Timothy are seeking absolution, this week asking a federal appeals court to overturn their convictions for their roles in the massive accounting fraud scandal that felled the telecommunications giant.
A Brazilian judge has demanded that the group that won an auction for Varig last week come up with $346 million in cash, leaving the sale of the struggling Brazilian airline in jeopardy.
The U.S. automotive industry may be facing a grim outlook, but the United Auto Workers is ready to meet the challenges crippling the bankruptcy-plagued sector, according to union leadership.
Bankruptcy professionals following some of the largest and most complex Chapter 11 filings in recent years may have been shaken by the recent courtroom absence of Deirdre A. Martini. But the former U.S. Trustee will return to the scene later this month as the recipient of the International Women’s Insolvency and Restructuring Confederation’s 2006 Woman of the Year in Restructuring Award.
After repaying the debt to a bondholders group that led to its meltdown into bankruptcy, Calpine Corp. wants to close its wallet, claiming it should not have to fork over more to bondholders for mounting professional fees.
In the ongoing saga of Northwest Airlines Corp.’s bankruptcy, a court overseeing the case has granted the company permission to pay its legal bills for current and former executives.
In free-fall since Refco Inc.’s collapse, several hedge funds once run by PlusFunds Group Inc. have sued the fund’s chairman and two directors for allegedly transferring money without their knowledge to an unregulated unit of the former brokerage giant.
Three weeks after filing for Chapter 11 bankruptcy protection, Aphton Corp. received permission on Friday from the U.S. Bankruptcy Court in Wilmington, Del., to auction its assets without a lead bidder.
The unsecured creditors committee in Calpine Corp.’s Chapter 11 case has asked the court for permission to retain a Canadian law firm to help deal with the bankrupt power company’s Canadian subsidiaries.
As Parmalat Finanziaria SpA tries to cast doubt upon Bank of America Corp.’s countersuit, the nation’s number two bank is fighting back and lobbying the court to allow its $1 billion damages claim against the embattled Italian dairy giant to proceed.
Werner Co., a leading ladder manufacturer, filed for Chapter 11 bankruptcy protection Monday as part of a reorganization plan intended to overcome skyrocketing costs for raw materials.
A Canadian court has approved the plan sponsorship agreement between a troubled biopharmaceutical company, Hemosol Corp., its receiver and a potential buyer.