International Business News - Bankruptcy http://www.ibtimes.com All articles are copyrighted by IBTimes.com 400 100 http://www.ibtimes.com/ http://www.ibtimes.com/images/top_logo_ibt2_3.gif A federal bankruptcy judge on Tuesday denied a request by Washington Mutual Inc. to keep details of certain asset sales secret. WaMu, which filed for Chapter 11 reorganization in September, wants to sell certain equity holdings and interests in venture capital funds to generate value for the company and its creditors. The Seattle-based thrift was the biggest bank to collapse in U.S. history, with about $307 billion in assets. http://www.ibtimes.com/articles/20081230/judge-rules-against-wamu-confidentiality-request.htm Tue, 30 Dec 2008 13:50:49 EST Specialty packaging company Chesapeake Corp. has filed for Chapter 11 bankruptcy protection and plans to sell itself to a group of investors for about $485 million. http://www.ibtimes.com/articles/20081230/chesapeake-corp-files-for-bankruptcy-protection.htm Tue, 30 Dec 2008 13:50:49 EST Struggling retailer Parent Co. said it has voluntarily filed for Ch. 11 bankruptcy protection and will consider selling some or all of its operations. http://www.ibtimes.com/articles/20081229/parent-co-files-for-ch-11-bankruptcy-protection.htm Mon, 29 Dec 2008 07:24:11 EST The Ogden-based oil company Flying J Inc. and two of its subsidiaries on Monday filed petitions for Chapter 11 bankruptcy protection in Delaware. In a news release, the privately owned company cited a drop in oil prices and the lack of available financing due to the disruption in credit markets as factors in the decision. http://www.ibtimes.com/articles/20081223/oil-firm-flying-j-files-for-bankruptcy-protection.htm Tue, 23 Dec 2008 10:16:28 EST Auctions of companies that were part of a bankrupt U.S. Virgin Islands media and communications network have been postponed because of the global financial crisis, a court-appointed trustee said Monday. http://www.ibtimes.com/articles/20081222/trustee-usvi-bankruptcy-aution-delayed-by-crisis.htm Mon, 22 Dec 2008 20:39:43 EST Circuit City Stores Inc., the nation's second-biggest electronics retailer, received final approval Monday for $1.1 billion in financing in order to keep operating while it's in Chapter 11 bankruptcy protection. http://www.ibtimes.com/articles/20081222/circuit-city-in-court-for-bankruptcy-hearing.htm Mon, 22 Dec 2008 19:27:10 EST Polaroid Corp. and its subsidiaries filed for Chapter 11 bankruptcy protection on Thursday, saying that allegations of fraud at its parent company are to blame. http://www.ibtimes.com/articles/20081218/polaroid-files-for-bankruptcy-citing-petters-case.htm Thu, 18 Dec 2008 20:49:01 EST A Delaware bankruptcy judge on Thursday authorized KB Toys to begin going-out-of-business sales. Judge Kevin Carey granted the company's request after attorneys said they had resolved several concerns of landlords and creditors about rent and other issues. http://www.ibtimes.com/articles/20081218/kb-toys-ready-for-store-liquidations.htm Thu, 18 Dec 2008 19:33:42 EST Lehman Brothers Holdings Inc. can begin resolving billions of dollars worth of derivatives contracts, after U.S. Bankruptcy Judge James Peck said Tuesday he would approve procedures to streamline the process. http://www.ibtimes.com/articles/20081216/court-lehman-can-resolve-derivatives-contracts.htm Tue, 16 Dec 2008 16:21:49 EST Former NFL star Michael Vick could be out of federal prison and in a Virginia halfway house by Jan. 20, one of his attorneys told a federal bankruptcy judge Tuesday. http://www.ibtimes.com/articles/20081216/lawyer-vick-may-be-moved-to-halfway-house-in-jan.htm Tue, 16 Dec 2008 16:15:01 EST A federal bankruptcy judge granted a request Tuesday by Washington Mutual Inc. to sell certain equity holdings and its limited partnership interests in 10 venture capital funds. http://www.ibtimes.com/articles/20081216/judge-allows-sales-of-wamu-investments.htm Tue, 16 Dec 2008 13:34:47 EST Auto parts supplier Key Plastics LLC said Tuesday it has filed for Chapter 11 bankruptcy protection and submitted a pre-packaged reorganization plan. Key Plastics, which makes plastic parts such as door handles and other molded components for carmakers and suppliers, said it secured up to $20 million in debtor-in-possession financing to continue operating in bankruptcy. Key asserted that its workers, trade creditors, suppliers and customers won't be affected by the restructuring plan, as it is seeking court approval to pay them in due course. http://www.ibtimes.com/articles/20081216/auto-parts-supplier-key-plastics-files-chapter-11.htm Tue, 16 Dec 2008 13:32:57 EST Lawyers for former NFL star Michael Vick and his creditors have another date in federal bankruptcy court in Virginia. Vick's disclosure statement is the subject of Tuesday's hearing in Norfolk. A committee of the suspended Atlanta Falcons quarterback's major creditors has objected to the statement. http://www.ibtimes.com/articles/20081216/va-hearing-set-on-vick-financial-disclosures.htm Tue, 16 Dec 2008 10:24:28 EST The Chapter 11 bankruptcy case of a kosher meatpacking company is being moved from New York to Iowa, where its facility is located. A federal bankruptcy judge issued the order Friday, transferring the case to the U.S. District Court for the Northern District of Iowa. http://www.ibtimes.com/articles/20081212/agriprocessors-bankruptcy-case-to-be-heard-in-iowa.htm Fri, 12 Dec 2008 18:33:31 EST A bankruptcy judge on Friday granted KB Toys' requests to use its existing cash management system and continue paying its workers as it prepares for going-out-of-business sales. http://www.ibtimes.com/articles/20081212/judge-approves-kb-toys-early-bankruptcy-motions.htm Fri, 12 Dec 2008 16:35:43 EST Major creditors in Michael Vick's bankruptcy case have objected to his disclosure statement, arguing that it lacks sufficient detail about his finances and prospects of returning to the NFL. http://www.ibtimes.com/articles/20081211/creditors-object-to-vick-finance-statement.htm Thu, 11 Dec 2008 13:14:29 EST In another sign of the grim holiday season, KB Toys filed for bankruptcy protection for the second time in four years on Thursday and plans to begin going-out-of business sales at its stores immediately. http://www.ibtimes.com/articles/20081211/retailer-kb-toys-files-for-bankruptcy-protection.htm Thu, 11 Dec 2008 15:33:37 EST Major creditors in Michael Vick's bankruptcy case say a disclosure statement he filed last month lacks sufficient detail on his finances and his prospects of returning to the NFL. http://www.ibtimes.com/articles/20081210/creditors-object-to-michael-vick-finance-statement.htm Wed, 10 Dec 2008 17:28:37 EST Tribune Co. was authorized Wednesday to make certain payments to employees, vendors and others as it works through a Chapter 11 bankruptcy reorganization. http://www.ibtimes.com/data/articleimgs/193706-tribune-bankruptcy.jpg http://www.ibtimes.com/articles/20081210/initial-hearing-held-in-tribune-bankruptcy.htm http://www.ibtimes.com/articles/20081210/initial-hearing-held-in-tribune-bankruptcy.htm Wed, 10 Dec 2008 18:44:41 EST Nortel Networks Corp., a Canadian maker of telecommunications equipment, has sought legal advice on a possible filing for bankruptcy, according to a report Wednesday in The Wall Street Journal that sent Nortel's shares on a nosedive. http://www.ibtimes.com/articles/20081210/report-nortel-seeks-advice-on-possible-bankruptcy.htm Wed, 10 Dec 2008 10:45:10 EST