Read more Chapter 11 stories on Newserhttp://www.newser.com/taggrid/25147/chapter-11.html2009 - Newseren-usNewser Feed GeneratorTue, 24 Nov 2009 13:45:32 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/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/67156/readers-digest-to-file-chapter-11.html?utm_source=syn&utm_medium=rss&utm_campaign=tagThe latest media company to groan under debt in the current recession, Reader's Digest Association, yesterday announced plans to file for Chapter 11 bankruptcy. The publisher insists that "business as usual" will continue for its publications and employees, with no mass layoffs in store as the company slashes its debt...http://www.newser.com/story/67156/readers-digest-to-file-chapter-11.html?utm_source=syn&utm_medium=rss&utm_campaign=tagMon, 17 Aug 2009 14:00:00 CDThttp://www.newser.com/story/63979/dykstra-files-for-chapter-11.html?utm_source=syn&utm_medium=rss&utm_campaign=tagFormer New York Met and Philadelphia Phillie Lenny Dykstra has filed for Chapter 11 bankruptcy protection in California yesterday, citing no more than $50,000 in assets and debts between $10 million and $50 million, the Philadelphia Inquirer reports. After making $36.5 million playing ball, Dykstra launched a magazine...http://www.newser.com/story/63979/dykstra-files-for-chapter-11.html?utm_source=syn&utm_medium=rss&utm_campaign=tagThu, 09 Jul 2009 12:52:00 CDThttp://www.newser.com/story/60659/gm-declares-bankruptcy.html?utm_source=syn&utm_medium=rss&utm_campaign=tagOnce king of the auto industry, General Motors filed for bankruptcy this morning, the Wall Street Journal reports. The firm must cut some 21,000 workers and close 12 to 20 factories and 40% of dealerships, adds the New York Times . GM says it owes $172.8 billion and has...http://www.newser.com/story/60659/gm-declares-bankruptcy.html?utm_source=syn&utm_medium=rss&utm_campaign=tagMon, 01 Jun 2009 7:38:16 CDThttp://www.newser.com/story/60622/general-motors-how-a-giant-fell.html?utm_source=syn&utm_medium=rss&utm_campaign=tagGeneral Motors dominated the auto industry for much of the 20th century, and its downfall took place over decades. Many of the attributes GM once saw as strengths, from its rigid structure to its diverse range of vehicles, becam e liabilities as Japanese competitors sucked away even its most loyal...http://www.newser.com/story/60622/general-motors-how-a-giant-fell.html?utm_source=syn&utm_medium=rss&utm_campaign=tagMon, 01 Jun 2009 5:13:00 CDThttp://www.newser.com/story/60614/gm-to-file-bankruptcy-at-8am-name-interim-chief.html?utm_source=syn&utm_medium=rss&utm_campaign=tagGeneral Motors will appoint Al Koch as chief restructuring officer when the company files for bankruptcy tomorrow at 8am, the Wall Street Journal reports. A managing director at an advisory firm, 67-year-old Koch has attended GM management meetings for months and helped negotiate pre-bankruptcy deals with shareholders and lenders. He...http://www.newser.com/story/60614/gm-to-file-bankruptcy-at-8am-name-interim-chief.html?utm_source=syn&utm_medium=rss&utm_campaign=tagSun, 31 May 2009 15:43:57 CDThttp://www.newser.com/story/60210/bondholders-reject-gm-deal-bankruptcy-looms.html?utm_source=syn&utm_medium=rss&utm_campaign=tagGeneral Motors says not enough of its bondholders agreed to swap their debt for company stock, meaning the troubled automaker is almost certainly headed for bankruptcy protection. GM has until Monday to finish restructuring or file for bankruptcy. But the company said today that its offer to exchange $27 billion...http://www.newser.com/story/60210/bondholders-reject-gm-deal-bankruptcy-looms.html?utm_source=syn&utm_medium=rss&utm_campaign=tagWed, 27 May 2009 6:59:31 CDThttp://www.newser.com/story/60063/gm-bankruptcy-a-gold-rush-for-lawyers.html?utm_source=syn&utm_medium=rss&utm_campaign=tagGM's expected bankruptcy is bad news for thousands of auto workers, dealers and managers—but a bonanza for the lawyers and consultants orchestrating the most complicated Chapter 11 in history. Bankruptcy specialists who are already billing Chrysler, Lehman Brothers and the US government stand to make hundreds of millions of...http://www.newser.com/story/60063/gm-bankruptcy-a-gold-rush-for-lawyers.html?utm_source=syn&utm_medium=rss&utm_campaign=tagTue, 26 May 2009 7:07:00 CDT