Reuters: Bankruptcy News

Clinton Cards administrators to shut 350 UK stores

Wed, 16 May 2012 14:03:28 -0400

LONDON, May 16 (Reuters) - Administrators for British cards and gifts retailer Clinton Cards said on Wednesday they had decided to shut about 350 stores employing around 2,800 full-time and part-time...

Hutchison Whampoa go to court to keep Eircom bid alive

Wed, 16 May 2012 13:57:29 -0400

DUBLIN, May 16 (Reuters) - Lawyers for Hutchison Whampoa Ltd made a last ditch attempt to salvage the Hong Kong company's bid for Eircom, the struggling Irish telecoms firm that is to be handed over...

Cerberus closes German property deal

Wed, 16 May 2012 12:01:16 -0400

FRANKFURT, April 10 (Reuters) - Private equity investor Cerberus has agreed to acquire roughly 22,000 German flats from insolvent Speymill Deutsche Immobilien (SDIC).

COMMENT: Grexit worse than Lehman?

Wed, 16 May 2012 11:59:48 -0400

LONDON, May 16 (IFR) - To say that the price action has become a little ugly would be an understatement but this is exactly what you get when you faced with an unpredictable and unknown outcome of a...

UPDATE 1-Managers to buy bankrupt Danish airline Cimber

Wed, 16 May 2012 05:30:31 -0400

COPENHAGEN, May 16 (Reuters) - Managers of bankrupt Danish no-frills airline Cimber Sterling are to buy the core of the business, which will continue to fly under the Cimber name.

Harrisburg, Penn., loses bid to restart bankruptcy

Tue, 15 May 2012 18:41:24 -0400

May 15 (Reuters) - A federal appeals court on Tuesday rejected a request by the City Council of Harrisburg, Pennsylvania, to overturn a decision last year barring the financially battered capital...

UPDATE 2-Ally to keep U.S. auto loans after ResCap filing

Tue, 15 May 2012 16:35:13 -0400

May 15 (Reuters) - Ally Financial is "absolutely not" looking to sell its core U.S auto lending business as it seeks ways to pay back $12 billion it owes to U.S. taxpayers after a government-funded...

UPDATE 3-AMR wins labor deals with five union work groups

Tue, 15 May 2012 13:58:00 -0400

* Five TWU groups agree to job cuts, avoid potential unilateral work terms

UPDATE 2-Crude oil supplies head for UK Coryton refinery

Tue, 15 May 2012 12:50:50 -0400

LONDON, May 15 (Reuters) - A tanker carrying crude oil is heading for Britain's Coryton refinery, trade sources and ship tracking data showed on Tuesday, just as a deal to keep the plant running...

AMR wins labor deals with five union work groups

Tue, 15 May 2012 10:35:13 -0400

May 15 (Reuters) - Five out of seven work groups represented by the largest labor union at AMR Corp's American Airlines voted to accept the contract terms offered by the bankrupt airline, the...