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BNET Business Dictionary
- Bankruptcy
- the condition of being unable to pay debts, with liabilities greater than assets. There are two types of bankruptcy: involuntary bankruptcy, where one or more creditors bring a petition against...
- Bankruptcy definition on BNET »
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- Unlike United, USG fair to its shareholders.(Opinion)(United Airlines and USG Corp)
- Two of the area's longest-running bankruptcy reorganizations are winding down, with dramatically different results for shareholders. United Airlines, which emerged from Chapter 11 last week after three years, stripped stockholders of their ownershi Two of the area's longest-running bankruptcy reorganizations are winding down,...
- Research articles 2006-02-06
- Bankruptcy change would hurt business.(bankruptcy reform bills in U.S. Congress)(Brief Article)
- he bankruptcy reform bills in the U.S. Congress could be among the most important economic laws enacted in Washington this year. The Michigan delegation should heed the implications for this state as the economy slows. The new law promises to make he bankruptcy...
- Research articles 2001-03-19
- Bankruptcy Judge Critical of Excite Bid.(Brief Article)
- REDWOOD CITY, CALIF. -- The federal bankruptcy court judge presiding over Excite@Home's Chapter 11 proceedings said he is doubtful that the $307 million bid from AT&T Corp. for the company's assets will fly, given strong bondholder opposition. REDWOOD CITY, CALIF. -- The federal...
- Research articles 2001-10-29
- Give bankruptcy priority to pensions.(Other Views)
- Byline: William J. Rochelle III Chapter 11 has become a mechanism for transferring wealth from retirees to vulture investors. Congress needs to step in and fix the system before more hard-working Americans end up facing poverty in their retirement Byline: William J. Rochelle...
- Research articles 2005-10-03
- New year promises no cure for retail's holiday hangover; lawyers brace for hefty surge in bankruptcies. (Chicago, Illinois)
- Lawyers brace for hefty surge in bankruptcies Battered all year by a brutal retail climate, vulnerable retailers - especially many mall-based clothing chains - entered the critical holiday season praying for a Hail Mary pass. But shoppers didn't make Lawyers brace for hefty surge in bankruptcies...
- Research articles 1996-01-01
- CHANGING TIMES, EASIER CREDIT SLOW RETAIL BANKRUPTCY FILINGS: CHAINS MORE LIKELY TO LIQUIDATE ASSETS WHILE KEEPING THE SHIP AFLOAT
- NEW YORK -- Greater availability of credit and the growing willingness of retailers to liquidate underperforming assets have combined to help curtail retail bankruptcy filings this year. That's the assessment of liquidators and credit analysts, wh NEW YORK -- Greater availability of credit...
- Research articles 1998-08-03
- An end to complacency: the 7th Circuit rules against critical vendor payments.).(An end to complacency: the 7th Circuit rules against critical vendor payments.)
- The comfort level that credit executives have reached in the last several years regarding "critical vendor" treatment has come to an end. This is the first time this issue has reached the Circuit Court level, and this is the first case of The comfort...
- Research articles 2004-05-01
- Delphi: Deal, or court decides; CEO: Everyone's better off if we settle outside bankruptcy.
- Byline: Terry Kosdrosky Delphi Corp. CEO Steve Miller is fighting a two-front war to keep the auto supplier out of bankruptcy, suggesting to its union and largest customer that they're both better off with an out-of-court settlement. In intervi Byline:...
- Research articles 2005-09-26
- Big 3 probed in C&A bankruptcy.(News)(Collins and Aikman Corp.)
- Byline: David Barkholz Automotive News Unsecured creditors of Collins & Aikman Corp. want to investigate purchasing practices of the Detroit Big Three to see whether they contributed to the supplier's slide into Chapter 11. The Official Comm Byline: David Barkholz Automotive...
- Research articles 2006-08-28
- North American files Chapter 11.(North American Plastics Corp. seeks bankruptcy protection)(Brief Article)
- Automotive supplier North American Plastics Corp. has joined the list of companies entering Chapter 11, forced into bankruptcy by what its lawyer said is one skittish creditor. North American Plastics, based in Grand Rapids, Mich., was in the mids Automotive supplier North American...
- Research articles 2002-03-25
- Fed-Mogul: From 'hairy goal' to harried; Expansion goal yields to survival strategy.(company files for bankruptcy)(Brief Article)
- In 1996, former Federal-Mogul Corp. Chairman Richard Snell called his aggressive expansion plan the ``Big Hairy Audacious Goal.'' Current Chairman Frank Macher's plans to keep the company afloat might well be titled the ``Huge Bankruptcy Saving Ou In 1996, former Federal-Mogul Corp. Chairman...
- Research articles 2001-10-08
- Ford, UAW put out the call for revisions to bankruptcy law.(News)
- Byline: Philip Nussel Crain News Service The surge in auto suppliers seeking Chapter 11 bankruptcy protection has prompted Ford Motor Co. and the United Auto Workers to launch separate efforts at revising parts of the federal bankruptcy code. F Byline:...
- Research articles 2006-04-24
- Bankruptcies.(BBC Building Co.)(Boxley Painting Inc.)(Melton Consulting Inc.)(Brief Article)
- The following businesses filed for Chapter 7 or 11 protection in U.S. Bankruptcy Court in Detroit the week of Aug. 27-Sept. 2. Under Chapter 11, a company files a reorganization plan that the court must approve. Chapter 7 involves total liquidation. The following businesses filed...
- Research articles 2004-09-06
- Owens Corning files bankruptcy.
- Owens Corning has filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code to put a freeze on mounting asbestos lawsuits that have battered company earnings. The Oct. 5 voluntary filing, in U.S. Bankruptcy Court in Wilmington, Del., esse Owens Corning has filed for reorganization...
- Research articles 2000-10-09
- Majority of Creditor Groups Reach Accord in Owens Corning Bankruptcy.
- June 7, 2004 - Owens Corning announced today that an agreement in principle has been reached with the company's asbestos creditors and the official representatives of the company's pre-petition bondholders and trade creditors. Through this agreeme June 7, 2004 - Owens Corning announced...
- Research articles 2004-06-07
- Quaker Fabric Files Voluntary Petition for Relief under Chapter 11 of the Bankruptcy Code
- FALL RIVER, Mass. -- QUAKER FABRIC CORPORATION (NASDAQ Symbol: QFAB), a leading supplier of upholstery fabrics for furniture markets in the United States and abroad, announced today that it and its wholly owned subsidiary, Quaker Fabric Corporation of Fall River, have filed voluntary petitions for relief under Chapter 11 of...
- Research articles 2007-08-17
- Making Sense of a GM Bankruptcy
- With a possible Chapter 11 bankruptcy looming, should you buy a GM car? MoneyWatch's Editorial Director Eric Schurenberg offers advice for consumers who might be wary, and for those who are already GM owners.
- Videos 2009-05-18
Additional Resources
- Rejection versus termination: a sublessee's rights in a lease rejected in a bankruptcy proceeding under 11 U.S.C. 365(d)(4).
- When a party files for bankruptcy under chapter 11 of the United States Code,(1) the court typically appoints a trustee to handle all of the party's financial obligations.(2) The trustee's responsibilities include investigating the financial condition of the debtor, the operation of the business, the desirability...
- Research articles 2001-02-01
- Philip Moves Ahead with Plan of Reorganization by Filing Under the CCAA in Canada and Chapter 11 in the United States
- HAMILTON, Ontario--BUSINESS WIRE--June 25, 1999-- Philip Services Corp (TSE:PHV.)(ME:PHV.)--Philip Services Corp. (TSE/ME:PHV) today announced that it has filed a voluntary application to reorganize under the Companies' Creditors Arrangement Act ("CCAA") with the Ontario Superior Court of Justice in Toronto, Canada, and voluntary petitions under Chapter 11 of the U.S....
- Research articles 1999-06-28
- REPEAT/Philip Moves Ahead with Plan of Reorganization by Filing Under the CCAA in Canada and Chapter 11 in the United States
- HAMILTON, Ontario--BUSINESS WIRE--June 25, 1999-- Philip Services Corp (TSE:PHV.)(ME:PHV.)--Philip Services Corp. (TSE/ME:PHV) today announced that it has filed a voluntary application to reorganize under the Companies' Creditors Arrangement Act ("CCAA") with the Ontario Superior Court of Justice in Toronto, Canada, and voluntary petitions under Chapter 11 of the U.S....
- Research articles 1999-06-28
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