The Department of Energy will lose about USD139 million on a loan given to Fisker Automotive under a clean vehicles program after the automaker sold part of the loan to Hybrid Technology.
Bankruptcy
Private equity under fire in Sweden as country reconsiders education model- report
The role of private equity firms in Sweden are now under close scrutiny as the country rethinks its pioneering educational reforms that are emulated worldwide, a Reuters Insight report said.
Rivera mural spared from Detroit bankruptcy sale
Diego Rivera's Detroit Industry murals, which was commissioned by Ford Motors Co. in 1932, has been protected from Detroit's bankruptcy sale. Britain's Christie's Inc. assessed pieces bought by the city money to be worth USD452 million to USD866 million.
Bankrupt Detroit's art assets value up to USD866 million - Christie's
Auction house Christie's said the value of the 2,781 works collection fully and partially-owned by the Detroit Institute of Arts (DIA) was around the USD452 million to USD866 million range.
Bankruptcy judge approves American-US Airways merger
Bankruptcy judge Sean Lane dismissed a private effort to block the merger between US Airways and AMR Corp and gave the clearance to allow the transaction to proceed.
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The US Department of Justice objected to four restructuring plans put forth by bankrupt LightSquared and its creditors. The objection will be discussed at a bankruptcy court hearing on December 10 in Manhattan.
Fisker Automotive Inc filed for bankruptcy and plans for its assets to be acquired by Hybrid Technology. The group included Richard Li, the son of Hong Kong's richest man.
The following bids, mergers, acquisitions and disposals were reported on Friday, including Microsoft, Comcast, Green Dot, Goldman Sachs and others.
Judge Thomas Bennett of the US Bankruptcy Court in Birmingham, Alabama approved Jefferson County's debt restructuring plan to exit bankruptcy after a 14-hour hearing on Thursday, November 21.
Officials of Jefferson County in Alabama said it had arrived at a new agreement with its Wall Street creditors that would pave the way for its exit from its USD 4.2 billion bankruptcy.
The following bids, mergers, acquisitions and disposals were reported on Thursday including Omnicom, General Motors, Deutsche Telekom, Devon Energy and others
