Category Archives: Chapter 11

Theme-park chain Six Flags files for bankruptcy

By doris | Published: June 15, 2009

Full Story At CNN.com The filing will not affect the operation of the company’s 20 parks in the United States, Mexico and Canada, said spokeswoman Sandra Daniels. “This restructuring will have no impact on families who come out to our parks. They will not see an inch of difference,” Daniels said. In an online letter [...]

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GM to help investment firm buy Delphi

By doris | Published: June 5, 2009

Full Story At money.cnn.com NEW YORK (Reuters) — General Motors Corp will give more than $2.5 billion of the $3.6 billion needed for Platinum Equity to gain control of bankrupt car parts supplier Delphi Corp, the Wall Street Journal said, citing a source. Under terms of the transaction, private equity firm Platinum is expected to [...]

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Crash diet: GM getting in shape for Chapter 11

By doris | Published: May 29, 2009

Full Story At  News.yahoo.com DETROIT – The speed at which General Motors Corp. exits bankruptcy protection will depend a lot on the shape the company is in when it enters. GM has three more days to tidy up. Bankruptcy experts say the more operational, labor and financial concessions the automaker gets lined up in advance [...]

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Chrysler’s sorry state revealed

By doris | Published: May 12, 2009

Full Story At money.cnn.com NEW YORK (Fortune) — Among the thousands of pages of documents filed in connection with Chrysler’s Chapter 11 bankruptcy are affidavits from Chrysler executives that open up a window on the auto business previously closed to outsiders in this intensely competitive business. They reveal an almost unimaginable complexity in the design, [...]

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Chrysler judge expert in corporate collapse

By doris | Published: May 1, 2009

Full Story At money.cnn.com NEW YORK (Reuters) — The bankruptcy judge who oversaw the massive cleanup after the Enron and WorldCom meltdowns has a new challenge that may be his toughest yet – overhauling Chrysler LLC. Judge Arthur Gonzalez of U.S. Bankruptcy Court in Manhattan was assigned the case Thursday after the iconic carmaker sought [...]

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Philly newspaper owner latest to file Chapter 11

By doris | Published: February 23, 2009

Full Story At PHILADELPHIA – The downward spiral of advertising revenue and circulation, coupled with rising debt, has claimed two more newspaper companies in a two-day span. The owner of Philadelphia’s two major daily papers filed for Chapter 11 bankruptcy protection Sunday in an effort to restructure its increasing debt load. The move comes a [...]

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