Bankruptcy | featured news

After 20 months and millions of dollars in attorney fees, time is running short on Tribune Co.'s campaign to control its own destiny in Bankruptcy Court.

Blockbuster Inc. will file bankruptcy next month, people familiar with the matter have told the Los Angeles Times.

Bankruptcy filings have reached the highest level since 2005, data released Tuesday show, as the economy slows and the unemployment rate hovers just below double digits.

<

General Motors Co has secured a $5 billion credit facility, two people briefed on the bank deal said on Wednesday, marking the return of the top U.S. automaker to the capital markets a year after it emerged from a landmark bankruptcy.

Owning a baseball team isn't always a license to print money. Take the Texas Rangers, for example. Ten years after signing Alex Rodriguez to a then unheard of $252 million contract, the MLB franchise has filed for bankruptcy.

Now, it's probably not exactly fair to blame the team's financial failings on the current Yankees slugger. Still, USA Today explains that A-Rod is one of the team's largest unsecured creditors.

General Motors Co. rode expense cuts from its bankruptcy and strong sales of redesigned models to its first quarterly net income in nearly three years, drawing the company closer to a stock offering that would repay at least part of its government aid....

Both houses of Parliament approve unpopular financial plan to save Greece from bankruptcy.

Chrysler Group LLC lost a staggering $3.8 billion from the time it left bankruptcy protection June 10 through the end of last year, but the automaker says its fortunes have improved.

G.M. said Wednesday that it had positive cash flow of $1 billion in the six months after it emerged from bankruptcy protection last July, but that it lost $4.3 billion in that period, mostly because of the cost of settling with the United Auto Workers union over retiree health benefits, one of the burdens that helped bring the company to its knees.

President Barack Obama says he did a full court press for a health care system remake because "this country was going to go bankrupt."