Highlights
A collection of news and information related to Bankruptcy published by Tribune Company sources.
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Union blames lenders for Interstate Bakeries bankruptcy holdup
The International Brotherhood of Teamsters says lenders are holding up a potential plan for helping Interstate Bakeries Corp. exit almost four years of bankruptcy protection, endangering thousands of jobs. The Teamsters, who represent more than 9,500...Tags: J.P. Morgan Chase & Co., Financially Distressed Companies
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Meriden Credit Union Liquidated
The National Credit Union Administration has liquidated the assets of a Meriden credit union and declared it insolvent, Officials say the actions are part of an ongoing investigation. The Meriden F.A. Federal Credit Union closed its doors in July....Tags: Meriden, Financially Distressed Companies
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Stine farm headed for foreclosure sale
After winning nine postponements to keep his Lower Mount Bethel Township property off the auction block, embattled stump dumper and farmer Clayton Stine Jr. is set to lose his farm at a foreclosure sale Tuesday. Michael McKeever of Goldbeck McCafferty...Tags: Court Administration, Allentown, David Dunn, Farms, Mount Bethel
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Steve & Barry's postpones court hearing on its sale
keiko.morris@newsday.comSteve & Barry's, the Port Washington-based retailer that filed for bankruptcy last month, postponed a court hearing to approve its sale yesterday while the auction proceedings for the company continued, but a source close to the negotiations said the...Tags: Sales, Court Administration, Auction Service, Financially Distressed Companies
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Feds used in economic crime
By taking courses in economic theory, we could immunize ourselves from nonsense spouted by politicians and pundits, but in the meantime, read John R. Lott's "Freedomnomics: Why the Free Market Works." His first chapter is "Are You Being Ripped Off?" It...Tags: National League, State University of New York, Transportation, Sales, American League
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Steve & Barry's postpones court hearing on its sale
keiko.morris@newsday.comSteve & Barry's, the Port Washington-based retailer that filed for bankruptcy last month, postponed a court hearing to approve its sale yesterday while the auction proceedings for the company continued, but a source close to the negotiations said the...Tags: Sales, Court Administration, Auction Service, Financially Distressed Companies
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Hedge Fund Files For Bankruptcy
SageCrest Finance LLC, a hedge fund run by investment firm Windmill Management LLC, sought bankruptcy protection from creditors. The petition for Chapter 11 bankruptcy, filed in Bridgeport, listed assets of as much as $100 million and less than $10...Tags: Mutual Funds, Financially Distressed Companies
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Bankrupt AHM to repay some creditors 5.9% of debt
emi.endo@newsday.comUnsecured creditors are to be repaid no more than 5.9 percent of what they are owed by bankrupt American Home Mortgage Investment Corp., Bloomberg News is reporting. Using cash from the sale of its assets, the former Melville-based company will pay...Tags: American Home Mortgage Investment Corporation, Mortgages, American Home Mortgage, Melville
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Real estate owner in Marinette files for Chap. 11
A company that owns significant rental property in downtown Marinette has filed for Chapter 11 bankruptcy protection. Warren Marcus LLC owns Dunlap Square, which consists of five residential and commercial leased properties. It has 65 residential and 15...Tags: Court Administration
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Recent editorials from New Jersey newspapers
Tuesday's (August 19) Star-Ledger of Newark on the Russia-Georgia conflict: Russia has rarely not had Georgia on its mind. In the years since the collapse of the Soviet Union especially, as nostalgia for the old empire grew, the loss of Georgia _ and...Tags: Wine, Beer, and Spirits, Defense, John P. Sarbanes, National Government, Kay Bailey Hutchison
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Bank of America's Countrywide Acquisition Has Drawbacks
Associated PressCountrywide's acquisition by Bank of America Corp. was supposed to help keep the troubled mortgage lender from collapse. Things might not turn out exactly as planned. The people who did the deal hoped that a strong bank would rescue a weak one. But the...Tags: Mortgages, Bank of America Corp., Financially Distressed Companies, Banking, Economic Policy
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Auto parts-maker Delphi to pare 600 jobs
Associated PressNEW YORK — Delphi Corp. said Monday that its electronics and safety division will lay off about 600 of its 3,200 U.S. salaried workers, blaming a steep drop in automaker demand for its components. Delphi Spokesman Milton Beach said the job cuts are...Tags: General Motors Corp., Delphi Corp, Unemployment, Beach Vacations, Layoffs and Downsizing
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|Story| Hartford Courant
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