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Colonial BancGroup File Bankruptcy Chapter 11

The Alabama-based bank holding company, Colonial BancGroup, voluntarily filed bankruptcy chapter 11 based on reports. The move was done 11 days after the company was seized by the government and was taken over by BB&T Corp., a Northern Carolina lender.  

Colonial BancGroup has a reported $380 million of debts and only $45 million in assets based . . . → Read More: Colonial BancGroup File Bankruptcy Chapter 11

Producers of Terminator File for Bankruptcy

Three companies of Terminator Salvation film producers Derek Anderson and Victor Kubicek, who are also owners of the Terminator franchise rights have filed for bankruptcy Chapter 11. The filing was said to be done a day after both producers have filed a case suing their investors for allegedly pushed them to make bad business decisions.

Anderson and . . . → Read More: Producers of Terminator File for Bankruptcy

Reader's Digest Plans to File for Chapter 11 Bankruptcy in US

The Reader’s Digest has been known all over America as a monthly magazine full of condensed copies of articles or novels formerly published in other places. For many years since its inception in 1922, it remained consistent with its growing number of followers who enjoy reading different feature stories, trivia, joke pages and how-to articles. According . . . → Read More: Reader's Digest Plans to File for Chapter 11 Bankruptcy in US

Frontier Airline Announces Winner of Auction

The Republic Airways Holdings Inc. has just be announced as the winner in the auction to acquire Frontier Airlines, as part of the procedures under Frontier’s Chapter 11 bankruptcy cases. The selection process was said to be made in consultation the Creditor’s Committee assigned in the carrier’s bankruptcy case.

A press release by the Frontier Airlines Holdings . . . → Read More: Frontier Airline Announces Winner of Auction