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A collection of news and information related to Financially Distressed Companies published by this site and its partners.

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    Feb 16, 2011 |Story| WGNO-LTV
  1. Borders files for bankruptcy, Plans to close both New Orleans area stores

    Borders Group Inc filed for bankruptcy protection and said it would close about one-third of its bookstores - including both in the New Orleans area - after years of shriveling sales that made it impossible to manage its crushing debt load.
    WGNO News
    Borders Group Inc filed for bankruptcy protection and said it would close about one-third of its bookstores - including both in the New Orleans area - after years of shriveling sales that made it impossible to manage its crushing debt load. The long-...

    Tags: Bankruptcy, Book, Amazon.com Inc., Apple Inc., New York

  2. Sep 21, 2010 |Story| WGNO-LTV
  3. Senate Panel Wraps Up Impeachment Hearings

    A Senate impeachment panel wrapped up hearings today on corruption charges facing a Louisiana judge who could become just the eighth federal judge to be removed from the bench.
    ABC26 News
    A Senate impeachment panel wrapped up hearings today on corruption charges facing a Louisiana judge who could become just the eighth federal judge to be removed from the bench. Sen. Claire McCaskill, the chairman of the committee, said she expects to...

    Tags: Bankruptcy, Bill Clinton, New Orleans, Crimes, Justice System

  4. Jun 11, 2010 |Story| WGNO-LTV
  5. Treasurer asks for BP bankruptcy plan

    State Treasurer John Kennedy is urging
    ABC26 News
    State Treasurer John Kennedy is urging Louisiana officials to prepare for the possibility oil giant BP could file for bankruptcy because of the massive spill in the Gulf of Mexico. Kennedy sent Gov. Bobby Jindal a letter this week pushing him to...

    Tags: Emergency Incidents, Bankruptcy, Bobby Jindal, Environmental Cleanup, Government

  6. Jun 13, 2010 |Story| WGNO-LTV
  7. BP exec gives pep talk amid US tensions over spill

    A top BP executive acknowledged the
growing tensions between the oil giant and the federal government
but also gave workers at a command center a much-needed pep talk,
reminding them of the huge challenge they faced as they try to stop
a massive oil leak and keep the crude away from the fragile Gulf
Coast.
    ABC26 News
    A top BP executive acknowledged the growing tensions between the oil giant and the federal government but also gave workers at a command center a much-needed pep talk, reminding them of the huge challenge they faced as they try to stop a massive oil...

    Tags: Bankruptcy, Emergency Incidents, Florida, Government, Texas

  8. Apr 23, 2009 |Story| WGNO-LTV
  9. Six Flags: Buyout deal was rejected in 2007

    City officials rejected a deal two years ago that would have paid New Orleans more than $14 million to allow Six Flags Inc. to walk away from its hurricane-shuttered theme park, the company's chief executive said Thursday. City officials said Wednesday that a lawsuit against Six Flags was planned, citing an impasse with the New York-based company over reopening the park in eastern New Orleans.
    AP
    City officials rejected a deal two years ago that would have paid New Orleans more than $14 million to allow Six Flags Inc. to walk away from its hurricane-shuttered theme park, the company's chief executive said Thursday. City officials said Wednesday...

    Tags: Bankruptcy, Theme Park Vacations, Economy, Business and Finance, Hurricane Katrina (2005), Amusement and Theme Parks

  10. Jun 13, 2009 |Story| WGNO-LTV
  11. Six Flags Seeks Chapt. 11 Bankruptcy Protection

    The amusement park company Six Flags is seeking Chapter 11 bankruptcy protection, saying it needs to reorganize and shed $1.8 billion of debt.
    Staff reporter
    The amusement park company Six Flags is seeking Chapter 11 bankruptcy protection, saying it needs to reorganize and shed $1.8 billion of debt. Mark Shapiro, the New York-based company's chief executive officer, says the move won't affect the operation of...

    Tags: Trips and Vacations, Bankruptcy, Theme Park Vacations, Tourism and Leisure, Travel

  12. Oct 8, 2009 |Story| WGNO-LTV
  13. Bankruptcy Court Approves Six Flags Settlement with City of New Orleans

    A settlement over Six Flags Inc.'s lease with New Orleans for the site of the defunct Six Flags New Orleans theme park was approved Thursday by a federal bankruptcy judge in Delaware.
    ABC26 News
    A settlement over Six Flags Inc.'s lease with New Orleans for the site of the defunct Six Flags New Orleans theme park was approved Thursday by a federal bankruptcy judge in Delaware. Approval comes amid plans for a startup company, Southern Star...

    Tags: Bankruptcy, Nickelodeon (tv network), Amusement and Theme Parks, Viacom Inc., Six Flags Inc.

  14. Apr 8, 2010 |Story| WGNO-LTV
  15. Judge Awards Families $2.6m Over Chinese Drywall

    A New Orleans federal judge on Thursday
awarded seven Virginia families $2.6 million in damages for homes
ruined by sulfur-emitting drywall made in China, a decision that
could affect how lawsuits by thousands of other homeowners are
settled.
    Associated Press
    A New Orleans federal judge on Thursday awarded seven Virginia families $2.6 million in damages for homes ruined by sulfur-emitting drywall made in China, a decision that could affect how lawsuits by thousands of other homeowners are settled. It...

    Tags: Bankruptcy, Norfolk (Norfolk, Virginia), New Orleans, Florida, Government

  16. Jan 18, 2010 |Story| WGNO-LTV
  17. Bankruptcy Filings Shoot Up In Louisiana

    Sharply higher numbers of people and
businesses in Louisiana sought refuge from debt in federal
bankruptcy court, crippled by the housing collapse, credit cards
and sharply lower retail sales.
    ABC26 News
    Sharply higher numbers of people and businesses in Louisiana sought refuge from debt in federal bankruptcy court, crippled by the housing collapse, credit cards and sharply lower retail sales. According to the Administrative Office of United States...

    Tags: Bankruptcy, Natural Disasters, Economy, Business and Finance, Business, New Orleans

  18. Sep 17, 2008 |Story| WGNO-LTV
  19. Commissioner Donelon Says AIG Insurers Solvent Despite Parent Company's Problems

    Commissioner Donelon Says AIG Insurers Solvent Despite Parent Company's Problems Commissioner of Insurance Jim Donelon wants policyholders to know while the non-insurance parent company of American International Group (AIG) is facing a financial crisis,...

    Tags: Happiness (state of mind), Bankruptcy, Derivative Securities, Economy, Business and Finance, Securities

  20. Jan 7, 2009 |Story| WGNO-LTV
  21. New Orleans DA Eyes Bankruptcy

    NEW ORLEANS - New Orleans' new district attorney is asking for the state's authority to file for bankruptcy protection for his office. District Attorney Leon Cannizzaro says he is weighing that rare legal step because his office can't afford to pay a...

    Tags: Bankruptcy, Lawyers, Crime, Law and Justice, Death, Justice System

  22. Jan 31, 2010 |Story| WGNO-LTV
  23. Man Arrested for Threatening Bankruptcy Court in Possession of Loaded Gun

    ABC26 News
    Ashton R. 0'Dwyer, Jr, 62, was arrested for allegedly sending a threatening communication to the United States Bankruptcy Court, Eastern District of Louisiana. O'Dwyer was arrested January 29, in the 6000 block of St. Charles Avenue in New Orleans just...

    Tags: Bankruptcy, Police Arrests, New Orleans, Crime, Law and Justice, FBI

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