George's Feed
Nov 18, 2011

Dallas Stars win OK for bankruptcy plan, team sale

Nov 18 (Reuters) – The Dallas Stars hockey team won court
approval of its bankruptcy reorganization, clearing the way for
the team to be sold for $265 million to Vancouver businessman
Tom Gaglardi.

U.S. Bankruptcy Judge Peter Walsh approved the plan at a
hearing on Friday, court records show.

Nov 17, 2011

Fox says to seek dismissal of Dodgers bankruptcy

By Tom Hals

(Reuters) – Fox Sports wants the Los Angeles Dodgers thrown out of bankruptcy, saying the baseball team is using Chapter 11 to enrich club owner Frank McCourt.

Earlier this month McCourt ended a bitter feud with Major League Baseball over control of the team. As part of that deal, he agreed to sell the team and the league agreed to drop its opposition to the team’s plan to sell future media rights, a source told Reuters.

Nov 16, 2011

U.S. investor sues Olympus over takeovers scandal

By Tom Hals

(Reuters) – A U.S. investor sued Japan’s Olympus Corp, accusing the scandal-hit company of making false statements about its finances and intentionally hiding losses from investors.

Lloyd Graham, who owns 55 American Depository Receipts of Olympus (OCPNY.PK: Quote, Profile, Research, Stock Buzz), filed a securities lawsuit against the company on Monday, seeking to recover investment losses. The lawsuit seeks class-action status to represent all investors who bought Olympus ADRs in the five years leading up to November 7.

Nov 16, 2011

Los Angeles Dodgers sue to keep Fox from blocking team sale

By Tom Hals

(Reuters) – The Los Angeles Dodgers sued Fox Sports on Wednesday to stop the broadcaster of the baseball team’s games from interfering with plans to auction the bankrupt franchise.

The lawsuit comes just four days after the Dodgers sought court permission to sell future media rights as a way to boost the value of the team as it heads to the auction block.

Nov 16, 2011

LA Dodgers sue to keep Fox from blocking team sale

Nov 16 (Reuters) – The Los Angeles Dodgers sued Fox Sports
on Wednesday to stop the broadcaster of the baseball team’s
games from interfering with plans to auction the bankrupt
franchise.

The lawsuit comes just four days after the Dodgers sought
court permission to sell future media rights as a way to boost
the value of the team as it heads to the auction block.

Nov 15, 2011

Analysis: Solyndra may face tough task attracting big bids

By Tom Hals

(Reuters) – Solyndra LLC, the solar panel maker that went bankrupt after accepting a big U.S. government loan, may have a tough time drumming up sizable bids in an auction of its business this week.

Tepid bidding could reinforce arguments by critics who say the Obama administration rushed a $535 million loan guarantee for Solyndra without properly vetting the company’s true value and viability. Active bidding would help generate more money to repay the government.

Nov 11, 2011

Analysis: Bondholders warming to Dynegy’s unusual bankruptcy

WILMINGTON, Delaware (Reuters) – The bankruptcy of a unit of Dynegy Inc (DYN.N: Quote, Profile, Research, Stock Buzz) has turned the usual order of payment for creditors upside down, as the power company tries to protect shareholders like billionaire financier Carl Icahn at the expense of bondholders.

But prices have been rising on Dynegy bonds, suggesting that at least some bondholders are warming to the arrangement.

Nov 11, 2011

Bondholders warming to Dynegy’s unusual bankruptcy

, Nov 11 (Reuters) – The bankruptcy of a
unit of Dynegy Inc (DYN.N: Quote, Profile, Research) has turned the usual order of
payment for creditors upside down, as the power company tries
to protect shareholders like billionaire financier Carl Icahn
at the expense of bondholders.

But prices have been rising on Dynegy bonds, suggesting
that at least some bondholders are warming to the arrangement.

Nov 2, 2011

Retailers Syms and Filene’s to go out of business

Nov 2 (Reuters) – Discount clothing retailer Syms Corp
(SYMS.O>, famous for saying educated consumers were its best
customers, filed for bankruptcy on Wednesday along with its
Filene’s Basement chain and both plan to go out of business.

The bankruptcy is the third and likely final trip through
bankruptcy for Filene’s Basement, a chain famous for its
“Running of the Brides” events.

Nov 1, 2011

Judge rejects Tribune Co’s plan to exit bankruptcy

By Tom Hals

(Reuters) – Tribune Co, the owner of the Los Angeles Times and Chicago Tribune newspapers, suffered a legal defeat on Monday after a judge late Monday rejected its plan to end its three-year stay in bankruptcy.

The judge also rejected a competing plan from the company’s noteholders and but said the company’s plan had stronger creditor backing and could be way out of bankruptcy.

    • About George

      "George Hay writes about the banking and property sectors. He joined from Thomson Financial News, where he was a companies correspondent. Before that he worked at United Business Media, where he was news editor of Building Magazine. He has a first in English Literature from Edinburgh University, and was nominated in two categories at the 2009 Business Journalist of the Year Awards."
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