A US Bankruptcy Court gave its approval to Savient Pharmaceuticals to sell all substantially all its assets to Crealta Pharmaceuticals, a firm backed by private equity company GTCR.
Tags: Bankruptcy
Mt. Gox to seek bankruptcy protection
After shuttering its operations this week, Tokyo-based Bitcoin exchange Mt. Gox told reporters that it will be seeking bankruptcy protection, The Wall Street Journal reported.
Two Detroit pension funds file expedited appeal for city's bankruptcy eligibility
Detroit pension funds, the General Retirement System and Police and Fire Retirement System, submitted an expedited appeal with the US 6th Circuit Court of Appeals on a judge's ruling about Detroit's bankruptcy.
$5.8 B debt accord sees Batista's OGX shares jump 21%
Investors seemed to be positive with regard to news from former Brazilian billionaire Eike Batista about Oleo & Gas Participacoes SA's creditors agreeing to convert $5.8 billion worth of company debt into equity stakes.
Eagle Merchant Partners says it won't sell Arcapita's assets
Eagle Merchant Partners, the firm managing the legacy portfolio firms of its former parent bank Arcapita, said it will not be selling Arcapita's assets for cents on the dollar, The Wall Street Journal reported.
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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.
After more than two years since it filed for bankruptcy due to lack of cash and halting production, Swedish car automaker Saab AB via its parent company National Electric Vehicle Sweden (NEV) AB started making cars today.
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.
According to a lawsuit filed by wireless communications firm LightSquared Inc, Dish Network Corp and its chairman, Charles Ergen had schemed to ensure that the latter would be able to obtain the former's broadband spectrum.
Fee examiner Richard Stern recommended to Judge Allan Gropper that USD 240 million in fees and expenses be paid to Eastman Kodak Co's lawyers and advisers.
A new CEO was recently installed for billionaire Eike Batista's OSX as it prepares itself for bankruptcy and other legal processes, according to its lawyers.
Advantage Rent a Car was hived off by Hertz to comply with regulatory authorities. Advantage Rent A Car would be filing for bankruptcy after Hertz had terminated lease agreements over vehicles that Advantage was able to use in its operations.
A lawsuit was filed by LightSquared against manufacturers of its GPS equipment for broken promises as to the capacity of the machines.
Northern Beef Packers, which had filed Chapter 11 bankruptcy, sets USD12.75 million minimum bid for its assets.
