Small business bankruptcies continued their decline in Q2/12 shrinking by nearly 17% from the previous quarter, according to Equifax’s Small Business Bankruptcy Report.
Northstar Aerospace announced that it has obtained an amendment to the debtor-in-possession financing with its senior and junior DIP lenders to extend the maturity date of the related financings through August 24, 2012.
The Associated Press reported that a federal bankruptcy judge has approved the sale of assets of steelmaker RG Steel in Ohio and Maryland.
According to bankruptcy court documents, Hawker Beechcraft is seeking more time to file a Chapter 11 plan and to solicit acceptances of the plan for each debtor entity.
ATP Oil & Gas has filed for Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas. ATP has obtained a commitment for $617.6 million of DIP financing from members of its existing senior lender group including Credit Suisse Group.
U.S. Bankruptcy Judge Kevin J. Carey in the U.S. Bankruptcy Court in the District of Delaware has granted approval for Syms, and its Filene’s Basement unit, to sell its Miami property for $4.35 million, a Bloomberg article said.
The Wall Street Journal reported that Kodak’s auction of intellectual property has yet to produce a sale. But it has had one unlikely result: turning fierce rivals Apple and Google into potential collaborators.
The Wall Street Journal reported that former partners from defunct law firm Dewey & LeBoeuf have agreed to give back at least $50 million in past earnings in exchange for immunity from lawsuits.
ATP Oil & Gas Corp. is said to be arranging approximately $600 million in debtor-in-possession financing from Credit Suisse Group, ahead of a possible bankruptcy filing, a Bloomberg article reported.
According to a report from The Star-Ledger, tennis racket manufacturer, Prince Sports, obtained court approval for its proposed bankruptcy plan. The plan essentially gives ownership of the company to its creditors.