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MGM 4 Billion Debt – Bankruptcy Looms

by bk711 on 08. Oct, 2010 in Bankruptcy, News

Metro-Goldwyn-Mayer Inc. said it has begun seeking its creditors’ approval on a prepackaged bankruptcy plan in which they will exchange more than $4 billion in debt for equity in a new company that has rights to the James Bond franchise and the upcoming two-part movie series “The Hobbit.”

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Credit Suisse’s “greedy antics” cost it $229M

by bk711 on 09. Sep, 2010 in Bankruptcy

BILLINGS, Montana: A federal bankruptcy judge said he would not reward the “greedy antics” of financial giant Credit Suisse by ordering the repayment of a $229 million loan it arranged for Montana’s exclusive Yellowstone Club. Bankruptcy Judge Ralph Kirscher’s Tuesday order said Credit Suisse was complicit in the diversion of the 2005 loan for the [...]

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Many in need don’t file BK

by bk711 on 16. Jun, 2010 in Bankruptcy

USA TODAY – Bankruptcy filings are nearing the record 2 million of 2005, when a new law took effect that was aimed at curbing abuse of the system. Filings could reach 1.7 million this year, says law professor Robert Lawless, but few experts believe that debtors are now gaming the system. Instead, concern exists about [...]

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NJ Reality Star Files Bankruptcy

by bk711 on 10. Jun, 2010 in Bankruptcy

Teresa Giudice has confirmed a recent report that her family is nearly $12 million in debt and filed for bankruptcy last fall. “The Real Housewives of New Jersey” star Teresa Giudice said she and husband Joe are looking at their bankruptcy filing as a “fresh start.” “While this is a personal matter, I realize that [...]

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