Topic: U.S. Bankruptcy Courts

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Houghton Mifflin Harcourt files for bankruptcy

Houghton Mifflin Harcourt, the book publishing giant, has filed for bankruptcy protection to eliminate $3.1 billion in debt. Houghton Mifflin Harcourt had been struggling with heavy debt for years.
LightSquared, bankrupt, still aims to launch wireless network

LightSquared has filed for bankruptcy protection, saying that will give it more time to win regulatory approval. Regulators have blocked LightSquared's plans, saying they could interfere with GPS signals.
Magic Johnson rides to Dodgers rescue – and all L.A. is smiling

A group of investors fronted by Los Angeles basketball legend Magic Johnson has bought the bankrupt Dodgers for $2 billion, nearly twice the previous record for a US sports team.
Catholic diocese to buy Crystal Cathedral

Catholic diocese: The move was approved Thursday by U.S. Bankruptcy Court Judge Robert N. Kwan after a bidding war between the diocese and Orange County's Chapman University for the sprawling 40-acre property — and was opposed by many Crystal Cathedral congregants who fear it will be the end of their church.
Another Solyndra already? Some worry even worse is coming.

Beacon Power, like Solyndra a recipient of a federal loan guarantee under the DOE's renewable energy program, has declared bankruptcy, leaving taxpayers to pay the tab. But the firm is tiny. Bigger ones are out there.
Bankruptcy protection sought for Friendly's chain

Bankruptcy protection would allow 400-restaurant chain to restructure and stay in business. At least three other restaurant chains have filed for bankruptcy protection this year.
Borders: A pioneer exits. Will its trail vanish, too?

Borders looming liquidation will have wide-ranging effect on the book industry. Borders bankruptcy marks the decline of big-box stores it pioneered.
Borders bankruptcy will close about 200 stores

Borders bankruptcy comes at a time when the company reports $2 million in losses each day at the stores it plans to close.
Madoff victims to receive $7.2 billion from Jeffry Picower estate

The $7.2 billion from the estate of philanthropist Jeffry Picower represents the largest forfeiture in US history. So far, $9.8 billion has been collected on behalf of Bernard Madoff victims – nearly half the $20 billion that investors lost.
Bankruptcy court allows A&P to keep operating

Bankruptcy won't close A&P's 395 grocery stores, thanks to $800 million financing deal.
Bankruptcy protection filed by Blockbuster

Bankruptcy protection: In a submission to the U.S. Bankruptcy Court in the Southern District of New York on Thursday, Blockbuster said it reached an agreement with bondholders on a recapitalization plan.
How an immigration raid changed a town

Tiny Postville, Iowa, struggles to regain its footing one year after the largest immigration sweep in US history.
Let bankruptcy help fix bad mortgages

It's a powerful step back to financial stability.