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{ Monthly Archives } June 2009

Madoff To Rot Behind Bars – Reuters

guardian.co.uk Madoff To Rot Behind Bars Reuters By sara.behunek – The Big Money The New York Times leads with and the Wall Street Journal banners with news that Bernard Madoff, architect of the largest-ever financial fraud, has been slapped with the maximum sentence of 150 years in prison six months … Waiting for Madoff, Angry Crowd Is Disappointed New York Times Madoff Cursed by Victims Who Mourn Lost Savings, Blame SEC Bloomberg The Daily Docket: Madoff Victims Influence Sentencing Wall Street Journal BBC News  - Detroit Free Press  - Dallas Morning News all 7,558 news articles »

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GM seeks court approval to become "New" company

NEW YORK – (AP) General Motors Corp., hoping for a quick exit from Chapter 11, on Tuesday will ask a bankruptcy judge to approve its plan to refashion itself as a leaner automaker owned mostly by the government. The nation’s largest automaker still faces hundreds of objections from bondholders, state officials, unions a

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Quelle gets government credit to stay afloat

BERLIN – (AP) German authorities have agreed to give a euro50 million ($70 million) credit line to Quelle GmbH, the mail-order unit of insolvent department store owner Arcandor AG, to keep its business afloat. The federal Economy Ministry and Bavaria’s state finance minister, Georg Fahrenschon, sai

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GM and Chrysler’s bankruptcy cases at a glance

(AP) A summary of developments in the Chapter 11 bankruptcy cases of General Motors Corp. and Chrysler LLC: GENERAL MOTORS DAY 26 WHERE DOES IT STAND?: Friday marked Detroit-based GM’s 26th day under court protection.

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UN seeks answer to bankruptcy of a country

UNITED NATIONS – (AP) The U.N. trade chief said Thursday there is a “missing link” in the international financial system that is becoming more critical as the global economic crisis drags on: What happens when a country is bankrupt and can’t pay its debts?  

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Woolworths resurrected as online store

LONDON – (AP) The 100-year-old Woolworths brand was resurrected on Thursday as an online store almost six months after the retailing stalwart went bankrupt and shut down its high street shops.   The new brand owne

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Delphi defends asset sale to private-equity firm

NEW YORK – (AP) Auto parts maker Delphi Corp. defended the sale of a portion of its assets to a private equity firm on Thursday, saying it has been open to other buyers since it first entered bankruptcy protection four years ago.   In a Thursday

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Journal Register hits bankruptcy plan objections

NEW YORK – (AP) The Journal Register Co. faced objections to its Chapter 11 reorganization plan on several fronts Thursday, as the newspaper publisher submitted its proposal to a U.S. Bankruptcy Court judge in Manhattan

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Judge gives final OK to GM’s bankruptcy financing

NEW YORK – (AP) A bankruptcy judge ruled Thursday that General Motors Corp. can have access to its full $33.3 billion in bankruptcy financing.   Judge Robert Gerber gave final approval to the financing after he had given preliminary approval

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Judge denies GM retirees’ request for committee

NEW YORK – (AP) A bankruptcy judge on Thursday ruled that a group representing General Motors Corp.’s salaried retirees cannot form a formal committee to negotiate with the automaker as it attempts to reorganize under bankruptcy protection.   U.S.

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