Phillips Edison & Company, Ramco-Gershenson Properties filed with the U.S. Bankruptcy Court an objection to rue21s motion for entry of final order authorizing the Debtors to assume the consulting agreement and approving procedures for store closing sales.

The objection asserts, There should be a finite period of time within which Debtors may conduct the GOB Sales. The Motion sets for an approximate end-date. This date should be firm. The GOB Sale should be conducted within the normal operating hours of the mall or shopping center. The GOB Sale should comply with the mall or shopping center regulations or guidelines concerning security, maintenance, trash removal or any other pertinent guidelines.

Separately, multiple parties including Phillips Edison & Company, Ramco-Gershenson Properties; ARC NPHUBOH001, Aronov Realty Management, Brixmor Property Group, Centennial Real Estate Company filed with the U.S. Bankruptcy Court separate objections to rue21s emergency financing motion. Phillips Edison & Company, Ramco-Gershenson Properties asserts, Debtors continuing use and occupancy of the Premises is critical to Debtors ongoing operations including store closing sales. The use and occupancy of the Premises provides an actual, necessary, and ongoing benefit to Debtors, and the Court should require Debtors to pay Landlords Stub Rent. Authorizing use of the Premises for the benefit of the DIP and Pre-Petition Secured Lenders without payment of Stub Rent is not supported by applicable law.Landlords should not be forced to bear the risk of administrative insolvency, while all other parties in interest benefit from the ongoing sales process.

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rue21 Bankruptcy Objections Filed - Bankrupt Company News (press release) (blog)

Bebe Avoids Bankruptcy Filing With Real-Estate Deals Wall Street Journal (subscription) Bebe Stores Inc. has done what few other retailers have been able to do recentlyclose all of its stores without seeking bankruptcy protection. The mall-based retailer, which announced in April it would be closing all of its roughly 180 locations, was ...

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Bebe Avoids Bankruptcy Filing With Real-Estate Deals - Wall Street Journal (subscription)

A federal committee that reviews the national security implications of foreign entities doing business in the United States said it might investigate potential transactions in the Westinghouse Electric Co. bankruptcy that has put completion of the $14 billion V.C. Summer nuclear power project in doubt.

The Committee on Foreign Investment in the United States filed a letter late Monday with the U.S. bankruptcy court in New York stating that it could conduct an investigation into the possible sale of Westinghouse assets to foreign businesses. That investigation ultimately could be forwarded to President Donald Trump for further action, the letter states.

There are concerns in Washington, D.C., that Chinese investors might make a play for Westinghouse assets through the bankruptcy court, according to news reports. Westinghouse currently is a subsidiary of Japan-based Toshiba Corp., which has not announced any plans to sell the nuclear unit.

Mollie Gore, spokeswoman for V.C. Summer co-owner Santee Cooper, said the utility would not be surprised by such a review but doesn't expect it to impact an ongoing analysis of the nuclear plant's future. A spokeswoman with SCANA Corp., parent company to South Carolina Electric & Gas and the majority owner of V.C. Summer, did not respond to a request for comments.

Meanwhile, a report filed with the state's Office of Regulatory Staff says it could be months before Westinghouse makes a formal decision on whether to honor its contract with SCANA and Santee Cooper to build a pair of reactors at V.C. Summer. The two utilities, which co-own the Midlands power plant, are paying to keep construction on track under an interim agreement that expires June 26.

Southern Co. has a similar arrangement at Plant Vogtle in Georgia, where Westinghouse was building two reactors, but that agreement expires Friday.

If Westinghouse ultimately rejects the V.C. Summer contract as part of its bankruptcy reorganization, SCE&G and Santee Cooper would have to find a replacement contractor or build the reactors themselves. The utilities could try to recover financial damages from Westinghouse in court, but such litigation would be costly and time-consuming.

Santee Cooper's board of directors has called a special meeting to be held in closed session Wednesday to get legal advice on the nuclear project.

Several V.C. Summer contractors and vendors have filed liens against Westinghouse with the bankruptcy court. The Office of Regulatory Staff said there is no timeline for when creditors will be paid because there is no current deadline for Westinghouse to file a reorganization plan.

"It is generally understood that, in a case such as the Westinghouse case, payments to creditors hold pre-petition unsecured claims are not likely to commence for an extended period of time ...," the agency said in its report.

Westinghouse recently filed thousands of pages of documents outlining the company's financial condition, showing an estimated $5 billion in assets and $618 million in known liabilities. But breaking construction contracts at V.C. Summer and Vogtle could cost Westinghouse billions of dollars, according to a report in the Pittsburgh Post-Gazette. That newspaper said Fluor Corp. and Bechtel Corp., among the nation's largest engineering and construction firms, might be preparing bids to take over the projects.

The federal committee looking into a potential foreign buyer said in its letter that an investigation could delay progress in the bankruptcy case. Committee investigations can take up to 75 days, according to the letter.

"If (the commmittee) determines that the transaction poses national security concerns that cannot be resolved, it will refer the transaction to the president unless the parties choose to abandon the transaction," the letter states. "The president may suspend or prohibit the transaction."

The president's decision would not be subject to judicial review, according to the letter.

The committee is an inter-governmental agency that includes representatives from U.S. Treasury, Homeland Security, the Attorney General's office, the departments of defense, commerce and energy and other agencies.

The nearly decade-long V.C. Summer project has been beset by financial and construction problems. The current cost estimate for the reactors is 21.6 percent higher than an original $11.4 billion price tag, and analysts say the eventual cost could balloon to $19 billion if both reactors are built.

The construction contract between Westinghouse and the South Carolina utilities was made public late last month. It sheds little light on the cost overruns, showing nearly three dozen change orders totaling about $325 million a fraction of the $2.6 billion in cost overruns since the project was announced in 2008.

Construction also is years behind schedule, with a pre-bankruptcy estimate putting the first reactor online in April 2020 and completion of the second unit delayed to December 2020. The reactors have to be online by the end of 2020 to qualify for federal tax credits that could offset about $2.2 billion of construction costs that utility customers have been paying.

Cayce-based SCANA owns 55 percent of the V.C. Summer project while Moncks Corner-based Santee Cooper owns the other 45 percent. Under their current agreement with Westinghouse, the utilities are expected to decide by June 26 whether to proceed with construction of one or both reactors or to abandon the project altogether. If that happens, the utilities say they still would have to build some other type of generating plant to meet future electricity needs.

Reach David Wren at 843-937-5550 or on Twitter at @David_Wren_

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Westinghouse bankruptcy draws federal scrutiny as VC Summer nuclear project's future remains unclear - Charleston Post Courier

Article Thesis

Valeant's (NYSE:VRX) huge net debt position and worsening operational performance mean that there is non-negligible credit risk for Valeant. It thus seems best to avoid the company's shares, especially since there is no catalyst in sight that could allow for an ongoing share price recovery.

Rationale

Valeant has been a high flyer for years, with its share price seemingly growing endlessly until, at one point, it didn't.

Valeant's fall, which decimated 95% of the company's share price, began in the second half of 2015, when the company's non-GAAP earnings story began to show some cracks. In the fourth quarter the company reported GAAP losses of $0.98 per share, whilst still claiming underlying earnings power (non-GAAP earnings) of $2.50 per share. The market since got wary of Valeant's adjusted earnings numbers, and rightfully so, the company has, however, reverted its use of big adjustments since, and GAAP number and non-GAAP numbers are now more in line with each other.

In the most recent quarter Valeant's GAAP results were actually better than the company's non-GAAP numbers:

As we can see, GAAP net income of $628 million is much higher than the non-GAAP bottom line number -- which Valeant does not include in its quarterly release. We can, however, calculate it by using the EBITA number of $766 million and adjusting it for interest expenses, taxes and amortization of intangible assets.

VRX Net Interest Income (Quarterly) data by YCharts

When we assume amortization costs to be zero, and calculate with interest expenses of $470 million, we get to pre-tax earnings of a little below $300 million, which, adjusted for taxes, means adjusted net earnings of $180 million.

VRX Effective Tax Rate (NYSE:TTM) data by YCharts

When we calculate with amortization expenses of $500 million, which is in line with the quarterly average over the last years, we don't get to any net earnings, however -- pre-tax losses would total $200 million quarterly.

Valeant is in too much debt

In order to determine the sustainability of Valeant's debt pile, we should look at its debt to EBITDA ratio:

Valeant points out that its debt position has shrunk from $32.3 billion at the end of the first quarter of 2016 to $28.9 billion one year later, but that is only part of the story.

Over the same twelve months, Valeant's adjusted EBITDA has declined by $1.1 billion, which means the debt to EBITDA ratio is now actually higher than it was one year ago: 6.95 versus 6.15, respectively.

Valeant's earnings power is shrinking at a much faster pace than its debt position, which means the debt pile is getting ever less sustainable.

When we annualize Q1's EBITDA of $860 million, we get to an estimate of $3.4 billion in EBITDA this year -- which could still be too high, as it does not account for further deterioration in Valeant's earnings power. In this case the debt to EBITDA multiple would stand at 8.4.

What happens when this is combined with rising interest rates, which makes Valeant's debt ever more expensive?

The Federal Funds rate is expected to grow to 3.0% over the next 18 months, an increase of 2.1 percentage points from the current level. If higher central interest rates are resulting in likewise higher interest rates for Valeant, the company could see its interest expenses rise by $610 million annually over the next one and a half years.

If, at the same time, Valeant's EBITDA continues to shrink at a 20% a year rate, the annual EBITDA run rate would total below $3 billion by the end of 2018.

VRX Net Interest Income (TTM) data by YCharts

As Valeant's interest expenses already total $1.9 billion, the total would stand at $2.5 billion -- barely covered by EBITDA. This does not include the impact of Valeant's ever-increasing debt to EBITDA ratio, which would likely push Valeant's interest expenses even higher -- this only calculates for sustained EBITDA declines and the increase in the Fed Funds rate.

It is difficult to forecast the additional impact of higher interest expenses due to investors shying away from Valeant's bonds if they are deemed too risky. But the fact that, even when we do not account for that, Valeant could be in a position where the company is just barely able to finance its interest expenses in one and a half years is a good reason for investors to think hard about whether it is a good idea to hold Valeant's shares.

The market cap has come down to a small level, and due to the huge volatility in Valeant's share price, it is very possible to make some short term gains. But in the long run, the outlook is not positive, and when we look a couple of years into the future, we see that Valeant could come into a position where it is no longer able to finance its debt.

I thus believe that it is best to stay away from this company's shares.

Takeaway

Valeant's non-GAAP shenanigans have ended, and for the most recent quarter it makes sense to look at the adjusted results. These spell trouble, however, as the company's earnings power is shrinking much faster than its debt levels.

Add in Federal Funds rate hikes that push interest rates higher, and the possibility of investors shying away from Valeant's bonds (which would increase interest rates further), and the risk for Valeant not being able to finance its debt any longer in a couple of years is not negligible any more.

Author's note: If you enjoyed this article and would like to read more from me, you can hit the "Follow" button to get informed about new articles.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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Valeant: There Is Significant Bankruptcy Risk Here - Seeking Alpha

The Capitol building is seen in San Juan, Puerto Rico May 4, 2017. ALVIN BAEZ / Reuters

Puerto Rico has been under an economic recession for over 10 years, which has prompted more than 10 percent of its residents to move to the U.S. It's expected the islands recession will continue, given that the Boards fiscal plan expects to shrink the island's economy, at least for the next 2 years. This will most likely result in more Puerto Ricans continuing to migrate to the continental U.S.

There are now over 1 million Puerto Ricans living in the state of Florida alone, and it is almost certain that Florida and other states will see many more residents from the island arriving to their jurisdictions in search of work and a fresh start.

The U.S. Virgin Islands, another U.S. territory with just over 100,000 residents, is under a $2 billion debt. Consequently, they will be watching how Puerto Ricos court process unfolds to determine if it is in their interests to seek Congressional protection. Furthermore, states with high debt or pension obligations might look to Puerto Ricos Title III process to see if they can eventually have a similar remedy made available to them.

May 17 was a historic day for both Puerto Rico and the United States, as the U.S. District Court there held its first hearing on the island's bankruptcy, thus officially starting the first case under the

This law created a process combining elements of traditional Chapter 9 and 11 bankruptcies that will permit U.S. owned territories to adjust their debts. Previously, U.S. law did not give territories the remedy used by state municipalities such as Detroit to restructure their debts.

Puerto Rico, an island obtained by the United States after the 1898 Spanish American War, is the first territory to use this process, expected to have far reaching implications not only for the island and its inhabitants, but also across the U.S. financial markets and pension systems.

This process is regulated in Title III of PROMESA, and it's presided by New York district judge Laura Taylor Swain. She was appointed to the case by Supreme Court Chief Justice John Roberts, who, under PROMESA, is the person authorized to select the Judge.

The Title III process differs from a traditional bankruptcy case in several aspects. PROMESA establishes that a 7-person Oversight Board, whose members were recommended by Congress and officially selected by President Obama in 2016, will act as the islands representative.

However, this does not mean that the Board is required to act in the islands best interests, as PROMESA does not impose any fiduciary duties to it. It mainly requires the Board to develop a plan that helps Puerto Rico achieve fiscal responsibility and eventually regain access to capital markets.

Furthermore, PROMESA gave the Boards members immunity for all actions they carry under the Act, and they can override Puerto Ricos laws and elected officials.

Under Title III, the Board will work with Puerto Ricos creditors to renegotiate the islands debts. Once this is done, they will present a Debt Adjustment Plan to the court for approval. This Plan will be approved if it complies with the requirements set in Section 314 of PROMESA.

One requirement of note is the one in Section 314(b)(6), which establishes that the plan will be approved if it is feasible and in the best interests of creditors, which shall require the court to consider whether available remedies under the non-bankruptcy laws and constitution of the territory would result in a greater recovery for the creditors than is provided by such plan.

This section is likely to give Judge Taylor Swain more power over Puerto Rico than she would have in a traditional Chapter 9 bankruptcy process, under which a similar plan would be approved if it is in the best interests of creditors and is feasible. It is unknown why this additional requirement was added to Title III.

In order to protect the best interests of the creditors, the Court is authorized to allow the Oversight Board to interfere with Puerto Ricos political or governmental powers and alter its properties, revenues or the use of its income producing properties.

This Section gives powers to the Board that are unique in U.S. law, as, they appear to give it the ability to, for example, potentially dispose of Puerto Ricos assets and properties and have a say in the way the island government provides basic services to its 3.5 million residents, even though it was not elected to do so by the Puerto Rican people. Judge Swain seemed to be aware of this power during the hearing, when she remarked that this case must lead to a better future for Puerto Rico.

Judge Swain scheduled hearings through December. In addition, the Judge issued an order yesterday requiring Puerto Rico to file a Creditor Matrix by June 30, 2017, and to file a list of all its creditors by August 30, 2017.

However, this process is expected to last several years and become the largest municipal bankruptcy in U.S. history, easily surpassing Detroits $20 billion dollar default, and perhaps come close to matching Argentinas historic 2001 default of over $150 billion dollars.

Who will pay for this bankruptcy process estimated to cost tens of millions of dollars? It will come out of Puerto Rico's pockets, in a process that will fundamentally transform the future of the island, its obligations towards its residents and its relationship to the United States.

In sum, Puerto Rico finds itself in uncharted legal waters. As this case unfolds, it will be important to see how Judge Swain and the Board protect the islands residents and ensure that Puerto Rico can develop a sustainable economic plan to transform and grow its economy without jeopardizing its residents.

Furthermore, it will be essential that Judge Swain orders a full audit of the debt as part of this process, so there can be a clear understanding of which individuals, elected officials and businesses were responsible for this financial catastrophe so they can be held accountable.

Finally, in order to protect the best interests of both Puerto Ricos and US residents, it's vital that this process and the audit of the debt moves authorities to enact legal reforms that end any unscrupulous, unethical or illegal financial practices that led to this tragic situation.

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4 Reasons Why Puerto Rico's 'Bankruptcy' Process Matters to US Residents - NBCNews.com

A high ranking committee consisting of White House cabinet members and possibly President Donald Trump himself are positioning themselves to weigh in on the Westinghouse bankruptcy case.

In court records filed late Monday, the Committee on Foreign Investments in the United States, or CFIUS, stated the potential sale of Westinghouse or its assets could be subject to the panel's review.

Consisting of various White House cabinet members, the CFIUS is authorized to review transactions which could result in foreign persons or entities acquiring U.S. businesses, according to the U.S. Treasury website.

CFIUS' mission is to determine if there are any national security issues resulting from said transactions, the treasury website states.

A subsidiary of Japanese-held Toshiba, Westinghouse filed for Chapter 11 bankruptcy protection on March 29.

Westinghouse is the lead contractor at financially struggling nuclear plants under construction in Fairfield County (V.C. Summer) and Burke County, Georgia (Plant Vogtle).

Documents filed May 31 with the S.C. Office of Regulatory Staff, or ORS, state Westinghouse's nuclear interests at V.C. Summer and Vogtle have become a "financial drain," eclipsing any profits Westinghouse is earning in other core areas of its business.

A CFIUS review of any potential Westinghouse transaction "could affect the transactions' timing, terms and ability to be completed," according to its June 5 court filing.

Folliwing CFIUS review, the matter could also be reviewed personally by President Donald Trump, the filing continues.

"Section 721 of the Defense Production Act of 1950 ... authorizes the President, acting through CFIUS, to review any merger, acquisition, or takeover 'which could result in foreign control of any person engaged in interstate commerce in the United States.'" court records state.

CFIUS consists of a who's who of White House cabinet members, including the Secretaries of the Treasury (who chairs the group), State, Defense, Commerce, Energy and Homeland Security, as well as the Attorney General and other federal officials, according to the court filing.

The Director of National Intelligence and Secretary of Labor are ex officio members, meaning they are nonvoting. Five White House officials also serve as observers.

Co-owners SCANA Corp. and Santee Cooper are temporarily funding day-to-day operations at V.C. Summer per an extension of an interim financing agreement that expires June 26.

A similar agreement at Vogtle that was set to expire June 3 and extended to June 5 has been extended again, this time to 5 p.m. Friday, June 9, Georgia Power spokesman Jacob Hawkins said Tuesday.

"Georgia Power continues work to complete its full-scale schedule and cost-to-complete analysis and work with the project Co-owners (Oglethorpe Power, MEAG Power and Dalton Utilities) and the Georgia Public Service Commission to determine the best path forward for customers," Hawkins said in a statement.

This is a developing story and will be updated throughout the day.

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Washington weighs in on Westinghouse bankruptcy | News ... - Aiken Standard

TAGS: Marketing, Overseas

December 18, 2014

As some planters are still rolling and others are put away for the next season, crops are growing. Once concern on the minds of farmers is if prices and the farm economy will offer enough support to keep producers in business.

Ag bank Farmer Mac is answering that question in a new release. AgDay had an exclusive first look at its quarterly financial report, The Feed.

Bankruptcies is one of several topics explored by the report. Chapter 12 bankruptcy filings have remained relatively low during the last decade, but the agricultural downturn during the last three years has resulted in a small uptick in farm bankruptcy rates.

Its not systematicits not all located in one region or one commodity, said Jackson Takach, an economist with Farmer Mac. Weve seen maybe a very small uptick, but its not anywhere near what we saw in the Great Depression or after the 1980s farm crisis. That gives me a lot of good feelings about the ag economy.

According to The Feed, the average bankruptcy rate in the past decade has been roughly 2.3 farm bankruptcies per 10,000 farms.

Nebraska, eastern California, central Georgia, Kansas and Wisconsin are the areas where bankruptcies are most common. However, Iowa and Missouri have relatively fewer bankruptcies.

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Farmer Mac Early Exclusive: Farm Bankruptcy Rates Low - AgWeb

New York Times

Puerto Rico Declares a Form of Bankruptcy New York Times The island has roughly $73 billion of bond debt, and nearly $50 billion of unfunded pension obligations to restructure. Credit Alvin Baez/Reuters. Puerto Rico's leadership moved on Wednesday to place the island's debt crisis into federal bankruptcy ... Puerto Rico declares bankruptcy. Here's how it's going to unfoldUSA TODAY Puerto Rico files for biggest ever US local government bankruptcyReuters Puerto Rico files for biggest US municipal bankruptcyCNNMoney NBCNews.com -Washington Post all 171 news articles »

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Puerto Rico Declares a Form of Bankruptcy - New York Times

Wall Street Journal (subscription)

Puerto Rico Enters Bankruptcy Wall Street Journal (subscription) Puerto Rico was placed under court protection on Wednesday in what amounts to the largest-ever U.S. municipal bankruptcy, a stark illustration of the depth of the economic crisis afflicting a U.S. territory with more than three million inhabitants ...

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Puerto Rico Enters Bankruptcy - Wall Street Journal (subscription)

The Affordable Care Act was among the likely factors that assisted with a big decrease nearly 50% in personal bankruptcy filings in the last six years, according to a Consumer Reports analysis.

Other factors, including new bankruptcy laws, a rebounding economy and tighter credit requirements, also likely helped with the reduction, with filings dropping from 1.54 million in 2010 to 770,846 last year.

Theres no way to know what made the biggest difference in that drop, since those filing for personal bankruptcy dont state a specific reason for it.

Personal bankruptcies actually began to decrease before the ACA, also called Obamacare, began to be implemented, though some parts including expanding family health plans to young adults started in 2010.

Read: This expensive risk lurks in nearly every medical experience you have

Still, the health care law in all likelihood played a major role. The ACA reduced uninsured rates to historic lows, with a major portion of that expanded insurance coverage for low-income Americans.

See: Forget iPhones many Americans cant pay a $100 medical bill

The laws consumer protections include health insurance for those with pre-existing conditions, reduced premiums for older people and an end to health insurers capping annual or lifetime benefits.

The ACA also subsidized individual health plans for many low and middle-income individuals. Richard Gaudreau, a consumer bankruptcy lawyer in New Hampshire, says he sees far fewer clients who dont have health insurance now.

I think before the ACA there were a lot of medically-driven costs in personal bankruptcies, he said. I think that has changed... I can only think of one in the past few years that was true of.

Related: With Obamacare repealed, 1 in 4 adults could be uninsurable due to a pre-existing condition

Related: Birth control pills are the rare prescription drug thats actually become cheaper

Medical bills, which are famously costly and unpredictable, have been historically estimated as the leading cause of bankruptcy filings. Other reasons include a lost job, reduced income and divorce, Gaudreau said.

A 2009 Harvard study estimated medical issues were responsible for 62% of bankruptcies, while a 2013 NerdWallet analysis based on the Harvard study came to a more conservative conclusion, or 57%. (Another study, done at Northeastern University, found a far lower rate, or 18% to 25%.)

The problem with looking at medical bankruptcy specifically is the same as deducing the cause of personal bankruptcy more generally: there isnt always one reason. The NerdWallet analysis, for example, didnt include indirect reasons for medical bankruptcy like lost work.

People use a credit card because they cant afford to pay for food and gas, so they can pay their medical bills because they have to keep their physician happy, Gaudreau said.

The latest numbers may pose an additional hurdle to repealing the ACA, the likelihood of which has dimmed recently after opposition from lawmakers. Though President Donald Trump ran for office on promises to repeal and replace the ACA, that effort has been challenged by divisions within the Republican party.

Read: What Trump can do to undermine Obamacare, now that the GOP health bill has failed

And, even if the health care law has contributed to a decline in personal bankruptcies, theres still evidence of its financial difficulties. Health-care premiums have gone up substantially in certain areas, and the high-deductible plans expose those on them to large out-of-pocket expenses.

See more: Entrepreneurs and small businesses on why they hate and love Obamacare

Moreover, its possible premiums could increase even more next year. High-profile exits from the ACAs exchanges or specific state exchanges could cause premiums to spike, and there could be even more departures health insurers have until June to decide.

Health Care Select Sector SPDR has risen 5.8% XLV, -0.49% over the last three months, compared with a 3.9% rise in the S&P 500 SPX, -0.13%

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Obamacare helped make a 50% dent in personal bankruptcies ... - MarketWatch

Pennsylvania Toy Seller Files For Bankruptcy Wall Street Journal (subscription) A Pennsylvania company that sells plush toy Disney movie characters, famous athletes and sports mascots has filed for bankruptcy, blaming sales that dropped after some license partners would no longer allow the items to be sold on Amazon.com. Lawyers ...

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Pennsylvania Toy Seller Files For Bankruptcy - Wall Street Journal (subscription)

Charlotte Observer

Bankruptcy auction for property of NASCAR artist Sam Bass ... Charlotte Observer NASCAR memorabilia belonging to noted artist Sam Bass is being sold at auction by order of the bankruptcy court. and more »

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Bankruptcy auction for property of NASCAR artist Sam Bass ... - Charlotte Observer

New York Times

Alitalia Files for Bankruptcy, but Italy Balks at a Third Bailout New York Times But on Tuesday, even a papal decree would not have been enough to save Alitalia from what threatened to be its final stand, as Europe's most troubled airline filed for bankruptcy once more, this time amid signs that the government, and the Italian ... Alitalia Declares BankruptcyAgainCond Nast Traveler Alitalia Starts Bankruptcy Process as Etihad Cuts Off FundsBloomberg Alitalia kicks off bankruptcy proceedings, government grants loanReuters Travel Weekly -STLtoday.com -Financial Times all 98 news articles »

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Alitalia Files for Bankruptcy, but Italy Balks at a Third Bailout - New York Times

Wall Street Journal (subscription)

A Slow Bankruptcy Process Stops Locale-Reviving Jobs Wall Street Journal (subscription) We contacted the Rock County [Janesville] Development Alliance director to inquire about the site. We were told that we could not consider the site because it was still tied up in bankruptcy court. We then tried repeatedly to connect with Rep. Paul ...

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A Slow Bankruptcy Process Stops Locale-Reviving Jobs - Wall Street Journal (subscription)