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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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Tulsa-based SemGroup LP considers sale of SemLogistics: Bankrupt SemGroup LP has announced it will evaluate offers to sell wholly owned subsidiary SemLogistics Milford Haven Ltd., on the west coast of Wales. SemLogistics is not included in the Chapter 11 bankruptcy filing of SemGroup and 24 subsidiaries. Information from the company stated that SemLogistics operates the...; Tags: bankruptcy, director, FBI, Government, Litigation; Research articles 2008-10-17
Former FBI director appointed examiner of Okla.-based SemGroup LP: Former FBI Director Louis J. Freeh was appointed Tuesday as an examiner to investigate bankrupt SemGroup LP's trading strategy, insider transactions, the possibly improper use of certain funds and assets to satisfy margin calls, and other issues. Freeh is founder and senior managing partner of the Freeh Group...; Tags: bankruptcy, director, FBI, Government, Litigation; Research articles 2008-10-15
World Tonight: Airline faced bankruptcy: VIRGIN Atlantic may have "disappeared" if Halifax Bank of Scotland had gone under, Sir Richard Branson said. The billionaire founder of the airline said HBOS refused to let his company withdraw pounds 1 billion of its money when it looked like it was set to go bankrupt last month....; Tags: bankruptcy, HBOS Plc., Litigation, Sir, Virgin Atlantic; Research articles 2008-10-11
Congress passes housing bill: is it too little, too late?: [ILLUSTRATION OMITTED] THE HOUSING AND ECONOMIC RECOVERY ACT OF 2008, which was signed into law by President George W. Bush on July 30, is intended to rescue homeowners unable to cope with their mortgage payments. Whether it will be enough to stem the rising tide of foreclosures in the...; Tags: bankruptcy, borrower, FINANCE, homeowner, Mortgages, tax, U.S. Congress; Research articles 2008-10-01
8th U.S. Circuit Court erases bright line on debts: A federal appeals court erased a bright-line rule against preferential transfers when it permitted certain creditors in a bankruptcy case to recoup the full amounts owed to them. Bankruptcy law allows trustees to go after payments made by debtors in the 90 days before filing for bankruptcy....; Tags: bankruptcy, creditor, estate, Litigation, Miller, U.S. Circuit Court; Research articles 2008-09-29

Research and Markets: Understanding Clients' Bankruptcy Legal Needs: ReedLogic Video Seminar: DUBLIN, Ireland -- Research and Markets (http://www.researchandmarkets.com/research/7626a9/understanding_clie) has announced the addition of the "Understanding Clients' Bankruptcy Legal Needs: ReedLogic Video Seminar with Steven Bennett of Jones Day" report to their offering. ReedLogic is pleased to present a video seminar on "Understanding Clients Bankruptcy Legal Needs." The 75-minute video is...; Tags: bankruptcy, Jones Day, Litigation, MARKETING, video; Research articles 2008-09-29
Who's News: Accounting Accounting firm Amper, Politziner & Mattia has named Michael Mattia as its partner in charge of marketing. A 20-year marketing veteran, Mattia is responsible for new service line and product development, corporate communications, and new business development, among other functions. He serves as Amper's practice development committee representative in...; Tags: accounting, bankruptcy, FINANCE, Litigation, Princeton University; Research articles 2008-09-29
NextWave Wireless to Discontinue Operations of its GO Networks Subsidiary: SAN DIEGO -- NextWave Wireless Inc. (NASDAQ:WAVE) today announced that, as part of its global restructuring initiative, it will be discontinuing the operations of its GO Networks business unit, a supplier of wide-area Wi-Fi network equipment. Accordingly, NextWave today filed a request in Israel to seek bankruptcy protection for its...; Tags: bankruptcy, Company, FINANCE, financing, Investment, Litigation, Nasdaq Stock Market Inc., network, Nextwave Wireless Inc., SEC, Wi-Fi, WIRELESS; Research articles 2008-09-28
Federal bankruptcy judge allows Okla.-based Boom Drilling to use: A federal bankruptcy judge issued an order Wednesday allowing Woodward-based Boom Drilling to use cash collateral to continue operations and pay expenses on an interim basis through Oct. 9, pending a final hearing on the company's motion. Boom and three affiliated companies filed for Chapter 11 protection on...; Tags: bankruptcy, creditor, Internal Revenue Service, Litigation; Research articles 2008-09-25
Bad Times on Wall Street: Lehman Brothers and Merrill Lynch: The credit crisis is hitting Wall Street hard. One by one, giant financial corporations are falling victim to the troubled economic times. Over the weekend of September 12-14, two major financial industry giants took desperate steps against an uncertain future - Lehman Brothers declared bankruptcy and Merrill Lynch agreed to...; Tags: Bank of America Corp., bankruptcy, Government, Lehman Brothers Inc., Litigation, Merrill Lynch & Co. Inc.; Research articles 2008-09-22
U.S. District Court, Northern District of New York Case Summaries:: Bankruptcy Fees Croak v. Turner 08-CV-465 Judge Mordue Background: Appellant Richard Croak, the former attorney for Beatrice E. Turner,debtor in the underlying Chapter 7 bankruptcy proceeding, appeals from an order of Bankruptcy Judge Littlefield, requiring the appellant to pay $260...; Tags: bankruptcy, debtor, discretion, Litigation, U.S. District Court; Research articles 2008-09-19
Janet Northrup and Brendetta Scott of Hughes Watters Askanase to Speak at the University of Houston Law Foundation's Collecting Debts and Judgments Seminar: HOUSTON -- Janet Northrup and Brendetta Scott of Hughes Watters Askanase L.L.P. (www.hwa.com) are serving as speakers for the Collecting Debts and Judgment Seminar sponsored by the University of Houston Law Foundation offered live Sept. 11-12 in Dallas and Sept. 18-19 in Houston. Northrup and Scott are included among...; Tags: attorney, bankruptcy, Houston, Leadership, Litigation, University of Houston; Research articles 2008-09-03
Legal Opinions - U.S. District Court, Maryland: September 2, 2008: Labor & Employment Employees ownership of claims under a CBA and WARN BOTTOM LINE: Employees of company filing bankruptcy legally transferred their claims arising under existing collective bargaining agreement and Worker Adjustment and Retraining Notification Act. CASE: Preston Trucking Co., Inc. v. Liquidity Solutions,...; Tags: bankruptcy, liquidity, U.S. District Court; Research articles 2008-09-02
Alitalia seeks administration under rescue plan: MILAN AFP — Alitalia said Friday that it has asked to be declared bankrupt and placed under special administration, the first step in a rescue plan that will see the struggling Italian flag carrier relaunched. The airline said in a statement it had submitted a declaration of bankruptcy to...; Tags: administration, Agence France-Presse, bankruptcy, FINANCE, Government, Litigation, SOFTWARE; Research articles 2008-08-29
Woodside Group agrees to enter bankruptcy: Woodside Group LLC, a Utah-based homebuilder with projects throughout the Southwest, won't contest a move by lenders led by JPMorgan Chase Bank NA and a group of noteholders to force the company into bankruptcy. Closely held Woodside will put the company and more than 200 affiliates into court...; Tags: bankruptcy, California, J.P. Morgan Chase & Co., Litigation, Mercer; Research articles 2008-08-29
Delaware bankruptcy court OKs SemGroup LP severance packages: A Delaware bankruptcy judge approved severance packages Monday for 230 laid-off employees of SemGroup LP, which filed for Chapter 11 reorganization July 22. Last week's layoffs included about 110 workers out of about 400 employed by SemGroup in Tulsa. The terminations amounted to a bit more...; Tags: asset, bankruptcy, Litigation, SEC; Research articles 2008-08-19
OKC-based SemGroup Energy misses SEC deadline: Publicly traded SemGroup Energy Partners LP SGLP told the Securities and Exchange Commission Friday that its parent company's bankruptcy, coupled with its own default under a credit agreement, "raise substantial doubts about the partnership's ability to continue as a going concern." SGLP detailed its own financial woes in...; Tags: asset, bankruptcy, Litigation, SEC; Research articles 2008-08-18
SemGroup LP founder, former CEO sued for $12.8 million by Bank of: SemGroup LP founder and former CEO Tom Kivisto and a Kivisto trust were sued for $12.8 million plus interest Friday by Bank of America. The lawsuit involves a $15 million loan to the trust that was guaranteed by Kivisto and secured by the trust's limited partnership interest in...; Tags: bank, bankruptcy, Litigation, SEC; Research articles 2008-07-28
Company Watch - Frontier Airlines: 7/14/2008 Alaska Airlines announced a partnership with Frontier Alaska under which customers of the commuter airline will have access to Alaska's loyalty program and the option to book through travel to certain markets from this fall. 7/7/2008 Frontier Airlines reported a 1.8% year-over-year increase in June mainline yield...; Tags: Airbus S.A.S., bankruptcy, Litigation; Research articles 2008-07-14
GM's Wagoner dismisses bankrutpcy talk: Automotive GM CEO DISMISSES BANKRUPTCY TALK: The chief executive of General Motors Corp. dismissed speculation that the largest U.S. automaker might soon seek bankruptcy protection. Comments in the past week about a potential bankruptcy are "not at all constructive or accurate," Rick Wagoner said Thursday. GM has $24...; Tags: Apple Inc., bankruptcy, General Motors Corp., Government, Iran, Litigation, missile, SOFTWARE, U.S.; Research articles 2008-07-10