Tag Archives: bankruptcy
Hedge Funds Lose In Chrysler Bankruptcy
The Business Insider – It looks like the "surgical" 30-60 day bankruptcy may be a go. Late last night, after a marathon session in court, Judge Arthur Gonzalez basically approved the plan to merge Chrysler into Fiat, rejecting the claims […]
In Chrysler Saga, Hedge Funds Cast As Prime Villain
President Obama’s harsh attack on hedge funds he blamed for forcing Chrysler into bankruptcy yesterday sparked cries of protest from the secretive financial firms that hold about $1 billion of the automaker’s debt. Hedge funds and investment managers were irate […]
Chrysler debt offer raised, holdouts targeted
Reuters – The U.S. Treasury raised its offer by $250 million (168.9 million pounds) in debt restructuring talks with Chrysler lenders on Wednesday as part of a final push to win over lenders holding out for better terms and avoid […]
Treasury Is Said to Increase Its Offer to Chrysler Lenders
Herald Tribune – The Treasury Department has increased its offer to repay Chrysler’s senior lenders as part of continuing talks on how to reduce the company’s debt, a person who had been briefed on the talks said on Wednesday. The […]
Lehman yields bonanza for the professionals
Times Online – Accountants and lawyers who are trying to sort out the European collapse of Lehman Brothers, the American investment bank, have charged more than £100million in fees in six months. The bonanza shows no sign of abating. PricewaterhouseCoopers […]
Vulture investors are looking for prey
CNN Money – They pray for recessions and smile a little wider when a company climbs onto its death bed. Welcome to the world of distressed, or so-called "vulture" investors, an often-ignored corner of the market that has increasingly taken […]
Washington’s reluctant auto bailout
CNNMoney.com – General Motors and Chrysler LLC have about a week or less before they find out if they’ll get the additional help they need from taxpayers, creditors and unions to avoid bankruptcy. What they already know is that any […]
Madoff ‘has blood on hands’ over shooting death
West Sussex County Times – A former soldier who shot himself in the head in Southampton was facing bankruptcy after becoming the victim of an alleged fraud by US banker Bernard Madoff, his grieving son said. The son of William […]
Journal of a Plague Year: Faith in Markets Cracks Under Losses
Bloomberg – It has been a year of record misery: the largest bankruptcy, bank failure and Ponzi scheme in U.S. history; $720 billion in writedowns and losses by financial institutions; $30.1 trillion in market valuation wiped out. The biggest loss […]
UPDATE-Airline Files For Chap.11 After Petters Arrest
West Palm Beach (HedgeCo.net) – Holiday airline Sun Country filed for bankruptcy yesterday, just 3 days after the arrest of investor Thomas Petters, founder of Petters Group Worldwide, the firm that owns Sun Country among other investments. Petters was charged […]
Hedge fund sues Petters
Bizjournals.com – A Minneapolis hedge fund has sued Petters Group Worldwide, alleging it was defrauded out of $60 million in a deal involving “imaginary televisions.” Interlachen Harriet Investments, a Cayman Islands-based unit of Minneapolis-based Interlachen Capital Group, filed the suit […]
