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Video-game maker Atari, Inc. has filed a reorganization plan in the U.S. Bankruptcy Court in Manhattan with the support of its French parent company Atari SA. In its filing, the bankrupt game-maker said it intends to give unsecured creditors a recovery of as much as 25 percent, Bloomberg reports. The company had intended to break away […]

Rural/Metro, an ambulance and fire protection services company, announced it has filed for Chapter 11 bankruptcy protection. The company has already established a reorganization plan following an agreement with its lenders to reduce debt liabilities by half. The company filed paperwork with the U.S. Bankruptcy Court in Wilmington, Delaware, and cited “significant challenges and disruptions operating its […]

Failed battery maker A123 Systems wins final bankruptcy approval and will be permitted to move forward with its reorganization plan, a U.S. bankruptcy judge ruled. U.S. Bankruptcy Judge Kevin Carey approved the company’s plan to exit bankruptcy after using the proceeds from its asset sales to repay its creditors. The battery manufacturer, now named B456 Systems, faced several […]

A U.S. Bankruptcy Court has granted Residential Capital’s request for a 30-day extension in filing its reorganization plan. During this period, the company will be unencumbered by the risk of rival proposals. In a U.S. Bankruptcy Court in Manhattan, Judge Martin Glenn addressed the progress that’s already been made in the contentious and ongoing bankruptcy dispute, and […]

Kansas-based aircraft manufacturer Hawker Beechcraft will be permitted to move forward with its Chapter 11 reorganization plan, a U.S. Bankruptcy Court has said. After reviewing the company’s Chapter 11 Joint Plan of Reorganization and hearing no major complaints from creditors, Judge Stuart Bernstein said that he saw no issues with the plan, which would allow […]