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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: creditor

creditor stories: 11 news summaries

Fed May Have Outmuscled Other Lehman Creditors 

Government creditors got their cash back; private investors still struggling

Oct 2, 09 8:05 AM CDT
(Newser) - A 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... More »

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Ben Bernanke • Federal Reserve • bankruptcy • Lehman Brothers • loan • Timothy Geithner • creditor • bankruptcy court

(Newser) - The bankrupt Tribune Company could emerge from protection with its top creditors—and not chairman Sam Zell—in charge, the Chicago Tribune reports. Zell exerts control based on $90 million he spent to secure the option of buying 40% of the company for $500 million, and a $250 million loan.... More »

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media • Sam Zell • Tribune Company • Citigroup • bankruptcy • debt • JPMorgan Chase • Chicago Tribune • newspaper industry • creditor • lenders

(Newser) - Trading of GM shares was briefly halted today after a committee of its bondholders accepted a sweetened version of the debt-for-equity deal, CNBC reports. The deal may not stop a GM bankruptcy, but would smooth the process. Under the deal, bondholders will go along with GM’s plan to sell... More »

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stock market • bankruptcy • General Motors • creditor

(AP) - General 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... More »

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bankruptcy • General Motors • negotiations • auto industry • Chapter 11 • financial crisis • creditor

(Newser) - President Obama said today that Chrysler’s impending bankruptcy is “not a sign of weakness but one more step” towards recovery, the Washington Post reports. The 1-to-2 month “surgical” bankruptcy—a time frame met with skepticism by experts—will give the automaker a “new lease on life,... More »

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Chrysler • bankruptcy • Robert Nardelli • auto industry • Obama administration • President Obama • auto bailout • creditor

ANALYSIS

 Chrysler Bankruptcy 
 Faces Bumpy Road 


Apr 30, 09 11:28 AM CDT
(Newser) - The battle to restructure Chrysler is about to go public, and could get messy, Michael de la Merced writes for the New York Times. After failing to get all the automaker’s debt-holders in line, the government prepared a “prepackaged bankruptcy,” a Chapter 11 filing with a reorganization... More »

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Chrysler • bankruptcy • Treasury Department • Fiat • prepackaged bankruptcy • creditor • UAW

Last-Minute Chrysler Talks Hinge on Smaller Lenders

Bankruptcy remains a possibility

Apr 29, 09 5:03 PM CDT
(Newser) - Chrysler is still preparing for bankruptcy in case the Treasury's last-minute negotiations with hesitant creditors crumble, the Wall Street Journal reports. Most big lenders have agreed to write down part of Chrysler’s debt in exchange for stakes in the company, but smaller hedge funds also have to agree for... More »

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Chrysler • bankruptcy • Treasury Department • US automakers • financial crisis • President Obama • creditor

 Debt Settlers 
 Promise Relief, 
 Provide Little 



Cash-strapped consumers claim companies charge fees without reducing debt

Apr 20, 09 8:33 AM CDT
(Newser) - State attorneys general are being overwhelmed with complaints about “debt settlement” companies that promise consumers relief from mounting bills but rarely deliver, the New York Times reports. The number of such companies, which often collect fees of 15% of the total debt to negotiate with creditors, has tripled in... More »

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credit card • consumer debt • household debt • consumer credit • debt collection • financial crisis • creditor

Sirius Creditors Ready
to Go After CEO

If company files for bankruptcy, they could ask judge to remove him

Feb 16, 09 10:54 AM CST
(Newser) - Sirius XM Radio's creditors want the company to make a deal with an investor rather than file for bankruptcy, and they're prepared to go after CEO Mel Karmazin's job if things don't go their way, the Wall Street Journal reports. "The board of directors should carefully consider the ramifications"... More »

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Mel Karmazin • satellite radio • investors • bankruptcy • debt • Sirius XM • creditor

 Lehman Collapse 
 Leaves Goats in the Lurch 

Goat-grazing biz among the herd of creditors burned by bankruptcy

Jan 24, 09 6:15 AM CST
(Newser) - Lehman's collapse has left creditors from Caribbean laborers to the world's biggest banks fighting for a share of what little cash remains, the Wall Street Journal reports. One California business that hires out goats to munch shrubs was shocked to learn that it may face ruin because of the bankruptcy... More »

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bankruptcy • lawsuit • Lehman Brothers • goats • Chapter 11 • creditor

Calif. Budget Gap Could Mean IOUs, Not Tax Refunds

Facing $42B deficit, Schwarzenegger, state Dems continue to wrangle

Jan 7, 09 11:11 AM CST
(Newser) - Faced with a mounting budget gap and failed negotiations toward a solution, California may have to send out promissory notes to taxpayers owed refunds and local governments, the Los Angeles Times reports. Talks between Gov. Arnold Schwarzenegger and the Democratic legislature foundered yesterday; lawmakers sent the governor a disputed package... More »

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California • Arnold Schwarzenegger • tax refunds • budget gap • taxpayers • financial crisis • economic downturn • promissory note • IOU • creditor

11 Stories


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