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Dewey to consider bankruptcy filing – source

Peter Lloyd — Sat, 19 May 2012 18:09:39 +0000

* New crop of creditors pressuring Dewey to seek bankruptcy- source * Creditors are secondary market buyers of Dewey debt * Dewey had initially sought out-of-court liquidation NEW YORK, May 18 (Reuters) …

Wansbeck named bankruptcy capital of the UK

Peter Lloyd — Sat, 19 May 2012 18:09:39 +0000

Individual insolvency rate in Wansbeck is 57 per 10,000 adults, as the overall figure for England and Wales fell to 27.1 in 2011 from a peak of 31.1 in 2009 The Wansbeck area of Northumberland has officially been named the bankruptcy capital of England, in a list that also features parts of Cornwall and the seaside town of Eastbourne, considered well-heeled by many. Meanwhile, the City of London …

Nadya Suleman 'Octomom' refused bankruptcy

Peter Lloyd — Wed, 16 May 2012 21:00:12 +0000

Nadya Suleman's bankruptcy case has been dismissed. The parent of octuplets, known as 'Octomom' attempted to file for Chapter seven, the most serious form of bankruptcy on April 30 but her papers have been rejected.

UPDATE 1-Ally hopes to end mortgage woes with ResCap bankruptcy

Peter Lloyd — Mon, 14 May 2012 22:54:04 +0000

(Adds company, filing details, background, bylines) * ResCap files for bankruptcy in Manhattan court * Fortress puts $2.4 bln opening bid for ResCap assets * Ally plans to sell international businesses …

Ally hopes to end mortgage woes with ResCap bankruptcy

Peter Lloyd — Mon, 14 May 2012 22:54:04 +0000

NEW YORK (Reuters) – Ally Financial Inc's mortgage unit on Monday filed for bankruptcy and the auto lender said it will sell some international operations to help set it on a path to repaying $12 billion (7 billion pounds) in bailout money. Ally's mortgage unit, called Residential Capital, or ResCap, filed for bankruptcy protection in federal court in Manhattan under a plan that has the support …

UPDATE 2-Ally hopes to end mortgage woes with ResCap bankruptcy

Peter Lloyd — Mon, 14 May 2012 22:54:04 +0000

* ResCap files for bankruptcy in Manhattan court * Fortress puts $2.4 bln opening bid for ResCap assets * Ally plans to sell international businesses (Adds treasury, GM comments; details on Fortress bid) …

Ally Financial's mortgage unit nears bankruptcy-sources

Peter Lloyd — Sun, 13 May 2012 23:51:28 +0000

NEW YORK, May 13 (Reuters) – Ally Financial Inc'sResidential Capital unit is nearing a bankruptcy filing, sourcesfamiliar with the situation said on Sunday, in a move that couldhelp the taxpayer-owned …

LightSquared edges closer to bankruptcy filing-sources

Peter Lloyd — Sun, 13 May 2012 23:51:27 +0000

(Reuters) – Philip Falcone's telecom start-up LightSquared edged closer to a bankruptcy filing on Sunday as the hedge fund manager was far from an agreement with creditors, sources familiar with the matter said. Falcone has until Monday at 5 p.m. EDT (2100 GMT) to reach an agreement or face a default on a $1.6 billion loan, sources said. Creditors have been negotiating to restructure …

Top bankruptcy lawyer leaving Dewey

Peter Lloyd — Sat, 12 May 2012 00:45:10 +0000

(Reuters) – Martin Bienenstock, a prominent bankruptcy lawyer who advised on General Motors Co's restructuring in 2009, is leaving the law firm Dewey & LeBoeuf to join Proskauer Rose, which announced his move on Friday.

Online music storage firm MP3tunes files for bankruptcy

Peter Lloyd — Sat, 12 May 2012 00:45:10 +0000

(Reuters) – Online music storage firm MP3tunes Inc filed for bankruptcy in a U.S. court, following its prolonged run-in with music publishing giant EMI Group over copyright issues, court filings showed. …