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Latest Secured creditor Stories

2010-08-02 13:44:00

US$ ABWTQ (OTC) MONTREAL, Aug. 2 /PRNewswire-FirstCall/ - AbitibiBowater announced today that in connection with the Company's ongoing creditor protection proceedings, the U.S. Bankruptcy Court for the District of Delaware approved on August 2, 2010 the Company's solicitation materials for its U.S. plan of reorganization under chapter 11 of the U.S. Bankruptcy Code. The Company had obtained on July 9, 2010 the Quebec Superior Court's approval for the mailing of solicitation...

2010-05-24 16:55:00

US$ ABWTQ (OTC) - Unsecured creditors committee supports plans of reorganization - Aims to emerge from creditor protection in Fall 2010 - Restructuring plan calls for unsecured debt to be converted to equity - Estimated recovery rate for unsecured creditors detailed in filings - Commenced process to obtain exit financing package - Secured backstop commitment from certain unsecured noteholders for rights offering of up to $500...

2010-01-26 12:48:00

WILMINGTON, Del., Jan. 26 /PRNewswire/ -- Alan Cohen, Chairman of Abacus Advisors LLC, today announced that FB Liquidating Estate (formerly known as Filene's Basement, Inc.) confirmed its chapter 11 plan and will soon make an initial distribution to unsecured creditors of the bankrupt retailer, whose trade name, leases and other assets were sold to an affiliate of Syms Corp. (Nasdaq: SYMS) last June for approximately $64 million. The announcement follows today's confirmation of the Joint...

2009-08-20 09:31:00

NEW YORK, Aug. 20 /PRNewswire/ -- The Official Committee of Unsecured Creditors of General Motors Corp. (n/k/a Motors Liquidation Company) announces the launch of its new bankruptcy information website: www.motorsliquidationcreditorscommittee.com On June 1, 2009, General Motors Corp. and certain of its subsidiaries and affiliates (collectively, "Old GM") filed for chapter 11 bankruptcy protection. On June 3, 2009, the United States Trustee appointed 15 of the largest unsecured creditors...

2009-08-13 13:40:00

NEW YORK, Aug. 13 /PRNewswire/ -- The Official Committee of Unsecured Creditors of Chrysler LLC (n/k/a Old Carco LLC) announces the launch of its new bankruptcy information website: www.chryslercommittee.com. On April 30, 2009, Chrysler LLC and certain of its subsidiaries and affiliates (collectively, "Old Chrysler") filed for chapter 11 bankruptcy protection. On May 5, 2009, the United States Trustee appointed 11 of the largest unsecured creditors to serve as the Official Committee of...

2006-03-25 04:39:13

By David Bailey CHICAGO (Reuters) - A committee for unsecured creditors in Delphi Corp.'s bankruptcy on Friday demanded General Motors Corp. documents detailing ties to its former parts unit dating back to 1997. GM is seeking unsecured creditor status in a bid to offset up to $12 billion of costs from wage and benefit agreements it made for the Delphi spin off. The creditors plan to challenge GM's claim, which could reduce recoveries they might receive from the reorganization. The...


Word of the Day
cacodemon
  • An evil spirit; a devil.
  • A nightmare.
  • In astrology, the twelfth house of a scheme or figure of the heavens: so called from its signifying dreadful things, such as secret enemies, great losses, imprisonment, etc.
'Cacodemon' comes from a Greek term meaning 'evil genius.'
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