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Attorneys general push to ease bankruptcy rules on mortgages (BizJournals)
Arizona is joining other states asking Congress to liberalize bankruptcy rules so judges can modify home loans to help reduce foreclosures.
Lyondell, U.S. Chemical Maker, Files Bankruptcy (Update3) (Bloomberg)
Jan. 6 (Bloomberg) -- Lyondell Chemical Co. and other U.S. affiliates of LyondellBasell Industries AF SCA, one of the world?s largest closely held chemical producers, filed for bankruptcy in New York citing waning demand for their products.
Democrats introduce bill to let judges adjust bankruptcy terms (Market Watch)
A Democratic plan to change bankruptcy law so judges could adjust the terms of mortgages is officially back.
Black?s Apollo Said to Be Among Lenders in Lyondell Bankruptcy (Bloomberg)
Jan. 6 (Bloomberg) -- Apollo Management LP, the private- equity firm led by Leon Black , is among the largest creditors of Lyondell Chemical Co., which filed for bankruptcy protection today in New York, according to a person with direct knowledge of the matter.
Lyondell, U.S. Chemical Maker, Files Bankruptcy (Update2) (Bloomberg)
Jan. 6 (Bloomberg) -- Lyondell Chemical Co. , an affiliate of LyondellBasell Industries AF SCA, one of the world?s largest closely held chemical producers, filed for bankruptcy protection in New York.
Iceland?s Glitnir Wins U.S. Bankruptcy Protection (Update1) (Bloomberg)
Jan. 6 (Bloomberg) -- Glitnir Bank hf , the 104-year-old Icelandic bank taken over by financial regulators, won U.S. bankruptcy protection, shielding it from lawsuits while it reorganizes in Reykjavik.
Lawmakers set new mortgage bankruptcy bill (Washington Post)
WASHINGTON (Reuters) - Legislation designed to stem foreclosures by allowing bankruptcy judges to erase some mortgage debt will be introduced by Congressional Democrats on Tuesday, and hopes are high that it will pass after a similar plan failed last year.
For Car Companies, It Was a Year to Forget (BusinessWeek Online via Yahoo! News)
General Motors closed out its centennial year having to ask the U.S. taxpayers for loans to survive. Chrysler closed out its first full year owned by a private equity firm by hiring bankruptcy lawyers. And Toyota's miserable U.S. performance led the Japanese company to project its first worldwide operating loss since the end of World War II, and to the likely ouster of its chief executive.
250-year-old company enters bankruptcy (Moldova.org)
Waterford Wedgwood, maker of Waterford Crystal, says it has gone into administration (bankruptcy) in Britain after missing a deadline with lenders.Lenders had deferred payment on loans until Jan. 2 while the 250-year-old company tried to raise about $290 million in fresh capital, The Guardian reported Monday.Most recently, the company, which also makes Royal Doulton, had attempted to sell ...
Waterford Wedgwood cracks, files for bankruptcy (National Jeweler)
London--China and crystal maker Waterford Wedgwood PLC filed for bankruptcy protection on Monday, after attempts to glue the company back together or find a buyer failed, The Associated Press (AP) reported.
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