bankruptcy

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Fisker: Doomed to Be the Next DeLorean?

Obama may have seen it coming

(Newser) - Fisker: It's the sexy electric sedan that Justin Bieber was busted speeding in and which scored a $529 million loan from the Obama administration. Now it's hurtling toward bankruptcy. So what went wrong? asks the Wall Street Journal . Faulty software, suppliers going bust, delayed releases, and car recalls...

Biggest Broke City Can Enter Bankruptcy: Judge

Stockton, Calif., allowed to pay less to bondholders

(Newser) - The biggest US city to file for bankruptcy was allowed to press ahead today despite outcry from its creditors, the Wall Street Journal reports. A federal judge approved Chapter 9 protection for Stockton, Calif., saying it "will not be able to perform its obligations to its citizens" without bankruptcy...

Dionne Warwick Files for Bankruptcy, Owes $10M in Taxes

Says she makes just $10 a month after expenses

(Newser) - The latest celebrity with big-time tax trouble : Dionne Warwick. The 72-year-old singer has filed for bankruptcy, TMZ reports. She owes $10.2 million in back taxes that have been accruing since 1991. Almost $7 million of that is owed to the IRS, and the rest to California, the BBC reports....

Cyprus Strikes Deal, Avoids Bankruptcy

Those holding largest deposits will take a hit

(Newser) - Crisis averted, for now. Cyprus has secured a package of rescue loans in tense, last-ditch negotiations , two EU diplomats said, saving the country from a banking system collapse and bankruptcy. The cash-strapped island nation needs a $13 billion bailout to recapitalize its ailing lenders and keep the government afloat. The...

Twinkies Should Return to Shelves by Summer

Hostess set to accept $410M offer for its cake brands

(Newser) - Looks like Twinkies have a new owner—and if all goes according to plan, the classic snack could be back in stores within months. Hostess has canceled today's auction for its brands and facilities and will sell them to Apollo Global Management and Metropoulos & Co., investment firms that...

Casey Anthony Living Off Gift Cards, 'Kindness'

She tells bankruptcy hearing she has no job, doesn't pay rent

(Newser) - Casey Anthony has no job, no car, and is living with friends, according to her testimony at a bankruptcy hearing yesterday. "I don’t pay rent. I don’t pay utilities. I live off the kindness of those I’m living with. I try to contribute when I can,...

Casey Anthony to Come Out of Hiding
 Casey Anthony 
 Comes Out of Hiding 
UPDATED
Mar 4, 2013 1:47 PM CST

Casey Anthony Comes Out of Hiding

To meet with creditors in Tampa today

(Newser) - Casey Anthony is ... still a brunette. Anthony, who has steered clear of the public eye since being released from prison in 2011, surfaced today to appear in court in Tampa as part of her bankruptcy proceedings , Tampa Bay Online reports. It describes her as carrying a wide-brimmed black hat, wearing...

Girls Gone Wild Files for Bankruptcy

We know you must be devastated

(Newser) - In what may be a perfect example of "what goes around comes around," Girls Gone Wild has filed for bankruptcy. Founder Joe Francis put his 16-year-old empire under bankruptcy protection yesterday in an effort to keep Las Vegas resort owner Steve Wynn from grabbing any of those assets,...

Reader’s Digest Publisher Files for Bankruptcy

Grapples with $465M in debt

(Newser) - Bogged down by some $465 million in debt, Reader's Digest publisher RDA Holdings has filed for bankruptcy—again. Last night's Chapter 11 filing was the publisher's second in 3 ½ years, the Wall Street Journal reports. The company says this second bankruptcy will only make it stronger,...

Twinkies&#39; $400M Savior Is Near
 Twinkies' $400M Savior Is Near 
Jan 29, 2013 12:52 PM CST

Twinkies' $400M Savior Is Near

Two private equity firms, including owner of Pabst Blue Ribbon, close to deal

(Newser) - Goodbye Hostess Twinkies, hello ... Apollo Twinkies? Or maybe PBR Twinkies? The Wall Street Journal reports that two private-equity companies—Apollo Global Management and C. Dean Metropoulos—are close to a deal worth more than $400 million to buy the brand from bankrupt Hostess. The bid would serve as the one...

Casey Anthony Files for Bankruptcy

26-year-old owes about $800K, has $1K in the bank

(Newser) - Casey Anthony is broke: As the Orlando Sentinel reports, the 26-year-old has filed for bankruptcy protection, saying that she owes nearly $800,000 and has $1,084 in the bank. She's also facing three civil lawsuits, including one from Zenaida Gonzalez on grounds of defamation related to the 2008...

Atari Files for Bankruptcy in US
 Atari Files for Bankruptcy in US 
Jan 21, 2013 10:36 AM CST

Atari Files for Bankruptcy in US

In an effort to free itself from its French parent company

(Newser) - Atari is going bankrupt, but don't worry: It has an extra life. Or at least, that's what Atari Inc., the New York-based part of the legendary video game company, is hoping. It has declared Chapter 11 bankruptcy in an effort to free itself of its French parent company...

Tribune Company Set to Exit Bankruptcy

But it may soon sell off its newspapers

(Newser) - The Tribune Company is set to emerge from bankruptcy today, four years after it filed for Chapter 11 protection as the American economy nosedived. The reorganized multimedia company has a new board of directors that includes plenty of entertainment industry veterans, and profitable assets including eight major daily newspapers and...

Google, Apple, Facebook Team Up on Kodak Patents

12-company group buys digital photography patents for $525M

(Newser) - Add "patent fire sales" to the list of things that breed strange bedfellows. A 12-company consortium that includes Apple, Google, Facebook, and Amazon has snapped up $525 million worth of patents on digital photography from bankrupt Eastman Kodak, reports Bloomberg . Longtime Kodak rival Fujifilm and Blackberry maker RIM also...

Walmart May Buy Hostess: Report

Kroger also in the mix

(Newser) - It looks like America's retailers can't resist a Twinkie. About two dozen companies intend to bid to buy either all of Hostess or just some of its individual brands, sources tell Bloomberg . Among the biggest names in the mix: Walmart. That deal would make some amount of sense,...

Gabby Douglas&#39; Mom Filed for Bankruptcy
 Gabby Douglas' Mom 
 Filed for Bankruptcy 
olympics
Aug 5, 2012 11:18 AM CDT

Gabby Douglas' Mom Filed for Bankruptcy

Natalie Hawkins filed for Chapter 13 months ago

(Newser) - On the heels of yesterday's revelation that Ryan Lochte's parents are facing foreclosure comes this news: Months before Gabby Douglas' gold medal win at the Olympics, her mom filed for bankruptcy. Natalie Hawkins filed for Chapter 13, which TMZ calls "far less severe than Chapter 7."...

Madoff Trustee Ready to Repay $2.4B

Lawsuits by investors could slow down, reduce payout

(Newser) - It's been more than three years since Bernie Madoff's giant Ponzi scheme was discovered, resulting in $17 billion in lost principle for his investors. But now the trustee in charge of Madoff's bankruptcy says he's ready to give the stolen funds back to the duped investors—...

Brokerage Accused of Stealing $215M
Brokerage Accused
of Stealing $215M
Jul 11, 2012 3:50 PM CDT

Brokerage Accused of Stealing $215M

PFGBest declares bankruptcy in wake of founder's suicide attempt

(Newser) - PFGBest declared Chapter 7 bankruptcy last night, after the Commodity Futures Trading Commission filed a lawsuit accusing it of fraud, lying to regulators, and abusing customer funds. Regulators believe Russell Wasendorf, who tried to kill himself Monday, had been fabricating bank balances and forging signatures on the documents he submitted...

Fake Budgets Drive San Bernardino Bankrupt

It's the latest in a string of three California cities to go under

(Newser) - California's cities are dropping like flies : San Bernardino's city council voted to enter Chapter 9 bankruptcy last night, making it the third California city to do so in as many weeks, the AP reports. With a population of about 210,000, it'll be the second-largest US city...

US' New Biggest Bankrupt City: Stockton

California city expected to file paperwork today

(Newser) - The city of Stockton, Calif. , will today file for bankruptcy, becoming the largest city in the US ever to do so, the San Francisco Chronicle reports. Stockton, a river port and agricultural city of nearly 300,000 about 90 miles east of San Francisco, became a victim of California's...

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