Read more bankruptcy stories on Newserhttp://www.newser.com/taggrid/1624/bankruptcy.html2009 - Newseren-usNewser Feed GeneratorTue, 24 Nov 2009 14:03:20 CSThttp://www.newser.com/story/74359/tribal-casino-defaults-may-sink-creditors.html?utm_source=syn&utm_medium=rss&utm_campaign=tagAs the Native American tribe that own the Foxwoods Resort Casino in Connecticut looks poised to become the biggest defaulter yet on tribal casino debt, holders of billions of dollars of tribal debt are questioning whether US laws apply to tribes operating as sovereign nations. “With casinos such as Foxwoods...http://www.newser.com/story/74359/tribal-casino-defaults-may-sink-creditors.html?utm_source=syn&utm_medium=rss&utm_campaign=tagThu, 19 Nov 2009 14:17:32 CSThttp://www.newser.com/story/74398/manager-i-warned-nic-not-to-buy-that-castle.html?utm_source=syn&utm_medium=rss&utm_campaign=tagThe business manager Nicolas Cage is suing for fraud is suing the actor right back, claiming he warned Cage he would have to make $30 million a year to support his extravagant lifestyle. Samuel J. Levin’s suit also claims he cautioned the actor—who recently lost two New Orleans homes...http://www.newser.com/story/74398/manager-i-warned-nic-not-to-buy-that-castle.html?utm_source=syn&utm_medium=rss&utm_campaign=tagThu, 19 Nov 2009 9:33:49 CSThttp://www.newser.com/story/73051/mega-lender-cit-files-chapter-11.html?utm_source=syn&utm_medium=rss&utm_campaign=tagCIT Group, a major lender to small and medium-sized American businesses, filed for Chapter 11 today. The move means the government is most likely out the $2.3 billion in TARP bailout funds it put up last year. The "prepackaged" procedure is intended to allow CIT, which reported $71 billion...http://www.newser.com/story/73051/mega-lender-cit-files-chapter-11.html?utm_source=syn&utm_medium=rss&utm_campaign=tagSun, 01 Nov 2009 16:43:00 CSThttp://www.newser.com/story/72246/rattner-why-i-fired-gms-wagoner.html?utm_source=syn&utm_medium=rss&utm_campaign=tagBarack Obama's former car czar says he had no choice but to fire GM's Rick Wagoner. "Everyone knew Detroit's reputation for insular, slow-moving cultures," Steven Rattner writes in an essay for Fortune . "Even by that low standard, I was shocked by the stunningly poor management that we found, particularly at...http://www.newser.com/story/72246/rattner-why-i-fired-gms-wagoner.html?utm_source=syn&utm_medium=rss&utm_campaign=tagWed, 21 Oct 2009 15:33:02 CDThttp://www.newser.com/story/70949/simmons-bankruptcy-study-in-private-equity-run-amok.html?utm_source=syn&utm_medium=rss&utm_campaign=tagThe mattress company Simmons will be filing for bankruptcy protection soon, wiping out bondholders and jeopardizing more jobs at a company that's already fired a quarter of its work force. While Simmons watched its debts balloon nearly tenfold since 1991, a string of private equity firms bought and sold the...http://www.newser.com/story/70949/simmons-bankruptcy-study-in-private-equity-run-amok.html?utm_source=syn&utm_medium=rss&utm_campaign=tagMon, 05 Oct 2009 7:30:00 CDThttp://www.newser.com/story/70947/cit-bust-would-cost-us-23b-earn-goldman-1b.html?utm_source=syn&utm_medium=rss&utm_campaign=tagTroubled commercial lender CIT, circling the drain for more than a year, would cost taxpayers $2.3 billion in shares purchased by the Treasury Department if it files for Chapter 11 soon—but Goldman Sachs, which gave the lender emergency funding, stands to collect a $1 billion windfall if it...http://www.newser.com/story/70947/cit-bust-would-cost-us-23b-earn-goldman-1b.html?utm_source=syn&utm_medium=rss&utm_campaign=tagMon, 05 Oct 2009 4:29:51 CDThttp://www.newser.com/story/70819/fed-may-have-outmuscled-other-lehman-creditors.html?utm_source=syn&utm_medium=rss&utm_campaign=tagA special court examiner investigating the Lehman Brothers bankruptcy is trying to determine whether the Fed used its clout to get its money back from the collapsed bank ahead of other creditors. The central bank and its New York branch lent Lehman $46 billion before the bankruptcy but was promptly...http://www.newser.com/story/70819/fed-may-have-outmuscled-other-lehman-creditors.html?utm_source=syn&utm_medium=rss&utm_campaign=tagFri, 02 Oct 2009 8:05:56 CDThttp://www.newser.com/story/69198/leibovitz-staves-off-foreclosure.html?utm_source=syn&utm_medium=rss&utm_campaign=tagAnnie Leibovitz has won an extension of her outstanding $24 million debt to Arts Capital Group, the New York Times reports. The celebrity photographer bought back the rights to her homes and intellectual property—both collateral in the loan—for an undisclosed sum as part of the restructured deal. But...http://www.newser.com/story/69198/leibovitz-staves-off-foreclosure.html?utm_source=syn&utm_medium=rss&utm_campaign=tagFri, 11 Sep 2009 14:58:57 CDThttp://www.newser.com/story/69057/gm-to-sell-opel-to-canadas-magna.html?utm_source=syn&utm_medium=rss&utm_campaign=tagAfter painfully drawn-out negotiations, General Motors’ board has agreed to sell its Opel unit to Canadian firm Magna International, maintaining a tie that will keep Opel a "a fully integrated part of GM's global product development organization," the company said. The German government, which earlier this year loaned Opel $2....http://www.newser.com/story/69057/gm-to-sell-opel-to-canadas-magna.html?utm_source=syn&utm_medium=rss&utm_campaign=tagThu, 10 Sep 2009 9:30:00 CDT