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.
Tags: Bankruptcy
Savient Pharmaceuticals gets approval from US Bankruptcy Court to sell all assets to Crealta
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.
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.
Investment group revives Saab 9-3 production after bankruptcy filing
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 seeks bankruptcy protection
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.
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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.
An agreement was signed between NRG Energy and Edison Mission for assets worth USD2.64 billion. The largest independent power producer in the United States, NRG Energy Inc, had entered into an agreement to purchase most of the assets of the bankrupt Edison Mission Energy.
The city of Detroit had gotten a USD350 million debtor-in-possession financing from Barclays Plc after filing for bankruptcy last July.
The noteholders of GM Nova Scotia used a local law loophole to allow its earnings to double from the bankruptcy proceedings.
A court-appointed trustee asked a bankruptcy judge to return more funds to MF Global Holdings' clients, said a Reuters report.
The first Gulf region company that would come out of bankruptcy places many Western courts at a quandary on Islamic finance.
The publisher of Penthouse magazine, FriendFinder Networks, filed for Chapter 11 bankruptcy. FriendFinder Networks filed for bankruptcy under Chapter 11.
