Chapter 11 Bankruptcy, Bankruptcy | featured news

Citadel Broadcasting files Chapter 11 bankruptcy

Citadel Broadcasting Corp ., the nation's third-largest radio broadcasting company , filed for Chapter 11 bankruptcy protection on Sunday in an effort to restructure its hefty debt load.

 

CIT Group Files for Chapter 11 Bankruptcy Protection

CIT Group Files for Chapter 11 Bankruptcy Protection

CIT Group Inc., a 101-year-old commercial lender, filed for bankruptcy with financing from investor Carl Icahn after the credit crunch dried up its funding and a US bailout and ...

 

Philadelphia Newspapers Hope For Debt-Free Bankruptcy

Two large Philadelphia daily newspapers hope to emerge from bankruptcy debt-free by paying creditors $37 million in cash plus real estate to settle nearly $400 million in debt.

Philadelphia Newspapers filed its reorganization plan Thursday, six months after filing for Chapter 11 bankruptcy.
The plan gives creditors the iconic downtown building that houses The Philadelphia Inquirer and Philadelphia Daily News.

 

Reader's Digest plans prearranged bankruptcy

Reader's Digest plans prearranged bankruptcy

Reader's Digest Association Inc, whose namesake magazine has been a staple of dentists' offices for generations, said on Monday it planned to file for Chapter 11 bankruptcy for its U.S. businesses as part of a prearranged plan with lenders to cut debt by 75 percent.

 

Troubled CIT 'gets rescue deal'

Troubled CIT 'gets rescue deal'

CIT, the troubled American bank, approves a $3bn rescue loan from major shareholders to try to avoid bankruptcy, reports say.

 

CIT talks to bondholders; bankruptcy still feared

CIT Group Inc is in talks with a group of bondholders for $2 billion to $3 billion in rescue financing as it tries hard to avoid bankruptcy, a source close to the company said late on Friday.

 

Leaner GM to exit bankruptcy

Leaner GM to exit bankruptcy

A leaner General Motors is close to starting a new life under government ownership after a judge denied an 11th-hour request Thursday to block the automaker's quick exit from bankruptcy.

 

GM Seeks to Void 70 Dealer Pacts

GM asked a bankruptcy judge to cancel 70 dealer contracts, eliminating the last holdouts in a plan to shutter as many as 2,400 stores.

 

Court Ruling Clears Path for G.M. to Restructure

Court Ruling Clears Path for G.M. to Restructure

A federal judge approved a plan by General Motors to sell its best assets to a new, government-backed company, a crucial step for the automaker to complete its bankruptcy process.

 

Extended Stay Hotels Files for Chapter 11

Extended Stay Hotels, saddled with a huge debt burden from an $8 billion buyout, filed for Chapter 11 protection Monday.

 

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