Round-Up: Insolvency in the News
In case you missed them, here are bankruptcy stories from around the web making headlines this week:
Bankruptcy filings by publicly traded companies fall 17 percent in 2011.
CEO of Pinnacle Airlines in Memphis warns of possible Chapter 11 in light of recent losses.
Ryan’s Steakhouses across Tennessee being boarded up as part of Buffets Inc.’s restructuring plan.
Clarksville medical center finds investor to guarantee $37 million needed to complete reorganization.
Marilyn Monroe estate gets iconic photo rights as part of bankruptcy settlement.
By Round-Up: Insolvency in the News
Here are some insolvency stories from around the web making headlines this week:
Despite its ongoing liquidation, Borders stores may remain open overseas: WSJ Bankruptcy Beat
Lehman Brothers drops its attempt to collect $11 billion from Barclay’s over Lehman’s distressed sale in 2008.
Chuck Greenberg, owner of the Texas Rangers, may seek to buy the NHL’s Dallas Stars in bankruptcy.
The Tennessean reports that incomes in the Nashville area plunged sharply last year, according to the latest census.
In a sign of the times, Hallmark has started selling greeting cards for when that special someone loses his or her job.
The Bankruptcy Venue Reform Act of 2011: Hearing Update
I previously posted on the Bankruptcy Venue Reform Act of 2011 (H.R. 2533), available here, which attempts to prevent Chapter 11 debtors from filing bankruptcy in a debtor-friendly forum where they have no real presence. On September 8, 2011, the Judiciary Committee conducted a hearing and gathered evidence. I previously assumed this bill was dead-on-arrival once the big business lobby sunk its teeth in, but it appears that the legislation is growing bi-partisan support.
Round-Up: Insolvency in the News
Here are bankruptcy stories from around the web making headlines on 8.26.11:
The Nashville Business Journal provides a sobering update of the Tennessee housing market.
Reuters reports that Lehman Bros. executives have agreed to settle shareholder investment suits for $90 million.
WSJ Bankruptcy Beat: Oregon Newspaper files Chapter 11, but not without a fight; paper goes down swinging against its largest creditor.
Too big to fail? Denmark enacts plan to protect banks from bankruptcy.
And on a historical note, the State of Indiana apparently went bankrupt in 1839. Unless you’re from Indiana, in which case the situation is considered a mere brief unpleasantness.
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