Bankruptcy for remaining Polmos?
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The Polish government's plans to sell off the last eight remaining Polmos businesses look ill-fated, as industry experts predict that the weakness of the remaining brands and market saturation means that ...
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A business receives legal protection from its creditors when it declares bankruptcy. But what happens when a company declares bankruptcy twice in just two years?
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The story headlined "UPDATE 1-Levi  Strauss & Co says could face bankruptcy" is withdrawn. The  story was based on language included in a filing the company  made with the U.S. Securities and Exchange Commission. Such  language on risk factors is standard in most references to  indebtedness in regulatory filings by companies.
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Fellow Fool Alyce Lomax and I need to debate Pier 1 Imports (NYSE: PIR). Between Alyce covering the company warnings and me advising not to jump off the pier, there has been little good news to report. Is Pier 1 ready to get ...
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A troubled company in the troubled housing sector.
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The story headlined "UPDATE 1-Levi Strauss & Co says could face bankruptcy" is withdrawn. The story was based on language included in a filing the company made with the U.S. Securities and Exchange Commission. Such language on risk factors is standard in most references to indebtedness in regulatory filings by companies.
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A court rules a web-based bankruptcy "expert" is not a clerical tool but is effectively practicing law without a license. Plus: Internet doomed, close browser now. In 27B Stroke 6.
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Capital One's time in purgatory may be near an end.
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Chrysler LLC has closed four assembly  plants and may be forced to shutter the rest of its global  assembly operations within a short time due to a dispute with  supplier Plastech Engineered Products Inc, which filed for  bankruptcy court protection on Friday.
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By Christopher Hope, Business Correspondent (Filed: 30/12/2004). Deutsche Bank, the German banking giant, yesterday said it has filed a motion with a US court to dismiss a claim for bankruptcy protection by Russian oil giant Yukos.
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Shareholders in Yukos are pondering liquidation or filing for bankruptcy, after deciding against a rescue plan for the embattled Russian oil firm.
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Problems with computers lead the fire engine maker to file for bankruptcy protection.
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The floundering Russian oil giant Yukos filed for Chapter 11 bankruptcy protection in Houston Wednesday in an effort to stop the Russian government from selling its core production unit at an auction this weekend. Analysts predicted the move would have no real impact on the planned sale.
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Lawyers got theirs SCO Group today filed for bankruptcy protection. With less than $10m cash left to call on, SCO said that Chapter 11 protection and reorganization would protect assets as it addresses, ahem, "potential financial and legal challenges".â¦
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INDIANAPOLIS An attorney says the parent company of the nation&#39;s tenth-largest airline is expected to file for bankruptcy today.
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WASHINGTON -- With the number of personal bankruptcies rising throughout the nation, the Supreme Court considered yesterday whether IRAs, the popular retirement savings accounts, are safe from creditors during a bankruptcy.
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(InfoWorld) - With its cash reserves running out and its legal case against IBM unravelling, The SCO Group now says there is doubt that it will remain afloat. SCO made the statement in its most recent quarterly U.S. Securities and Exchange Commission statement, filed Tuesday. The company citedÂ its recent motion for Chapter 11 bankruptcy protectionÂ as well as a recent court setback relating to its intellectual-property claims as reasons for worry. "As a result of both the Court's August 10, 2007 ruling and the Company's entry into Chapter 11, there is substantial doubt about the Company's ability to continue as a growing concern," SCO said in the filing. Last month a judge with the U.S. District Court for the District of UtahÂ ruled against SCO on several motions, finding that Novell, rather than SCO, owned the Unix copyright. Novell had sold SCO some Unix rights in the mid-1990s, but the court said that copyright was never assigned. "The effect of these rulings was to significantly reduce or to eliminate certain of the Company's claims in both the Novell and IBM cases, and possibly others," SCO said in its SEC filing. Several of the company's claims against IBM will be dismissed as a result of this ruling, SCO said in the filing, adding that there are still certain claims that remain viable, such as SCO's allegation that IBM engaged in unfair competition in its failed "Project Monterey" effort that was to create a Unix for 64-bit microprocessors. The rulings may also cost SCO a lot of money. The court said that SCO would have to pay Novell for past licensing deals it had struck with Sun Microsystems Inc. and Microsoft. This could amount more than $30 million, SCO said in its SEC filing. That's more than the $10.4 million in cash now held by SCO. The rest of the 10-Q statement, which covers the quarter ended July 31, is a litany of bad news. SCO's total revenue has dropped drastically year-over-year, its Unix business is down 37 percent, it made nothing from its SCOsource Linux licensing program, short-sellers may further drive the stock down, and the bankruptcy proceedings will divert a "significant amount" of senior management's time away from business operations, the filing said. SCO did not immediately return calls seeking comment. The company's detractors were not so quiet. The filings show that by declaring bankruptcy, SCO is hoping to stave off paying Novell the money it owes, said Pamela Jones, editor of the Groklaw.net blog, which has closely followed SCO's litigation. "They are, to my eyes, saying they don't want to hand over the Sun and Microsoft 2003 monies because it would put them out of business," she said.