Hawker Beechcraft announced the U.S. Bankruptcy Court for the Southern District of New York has granted approval of the company’s “First Day Motions” as part of the company’s voluntary filing for reorganization under Chapter 11.
Bloomberg reported that GE Capital is weighing a prepackaged bankruptcy for the debt issuer on a coal-fired power plant being taken back from Edison Mission Energy, spurring S&P to cut the rating on $640 million of notes.
Prince Sports, Inc. and its U.S. affiliates filed voluntary petitions for Chapter 11 reorganization in the U.S. Bankruptcy Court for the District of Delaware.
The Wall Street Journal reported fashion designer Betsey Johnson’s company filed for bankruptcy protection in New York, following poor performance in its chain of retail stores.
Eastman Kodak Company and Shutterfly, an Internet-based social expression and personal publishing service, announced that there were no competing bidders to Shutterfly’s $23.8 million stalking-horse bid to purchase certain assets of Kodak’s Kodak Gallery online photo services business.
Citadel Equity Fund and Camden Asset Management, two creditors of Tribune Co., have asked U.S. Bankruptcy Judge Kevin J. Carey of the U.S. Bankruptcy Court in the District of Delaware to clarify how their unpaid notes should be considered in the company’s bankruptcy case, a Bloomberg article said.
Dow Jones Newswires has reported that Buffets Restaurants will pay creditors that are owed over $44 million approximately $4 million when the company emerges from bankruptcy.
The Teamsters Union said it remains ready and willing to resume negotiations with Hostess Brands Inc. executives in an attempt to save the company following the agreement in bankruptcy court Friday that a decision would not be handed down before May 1.
Catalyst Paper announced that it has obtained an order from the Supreme Court of British Columbia extending its protection under the Companies’ Creditors Arrangement Act to June 30, 2012.
Coach America Holdings announced that it has re-scheduled the sale auction date related to its Chapter 11 proceedings to April 25, 2012.