Tag Archives: Bankruptcy

Batista’s OGX Files Bankruptcy: Largest Ever In Latin American History

Posted on October 30, 2013 by DRenegade

In line with what we discussed last night, once cajillionaire Eike Batista’s net wealth has now collapsed to less than -$746.5 Million according to Bloomberg as Veja notes, his “take over the world” company OGX has declared bankruptcy following the breakdown of … Continue reading →

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Detroit files for Chapter 9 bankruptcy

Posted on July 18, 2013 by DRenegade

The city of Detroit filed the largest municipal bankruptcy case in U.S. history Thursday afternoon, culminating a decades-long slide that transformed the nation’s iconic industrial town into a model of urban decline crippled by population loss, a dwindling tax base … Continue reading →

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Judge: Stockton, Calif., Can File for Bankruptcy

Posted on April 1, 2013 by DRenegade

A judge accepted the California city of Stockton’s bankruptcy application on Monday, making it the most populous city in the nation to enter bankruptcy. U.S. Bankruptcy Judge Christopher Klein said the bankruptcy declaration was needed to allow the city to … Continue reading →

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Egypt’s Bankruptcy and America’s Foreign Policy Failure

Posted on April 1, 2013 by DRenegade

“Short of Money, Egypt Sees Crisis on Fuel and Food” is the headline of David Kirkpatrick’s dispatch running the length of the right-hand column of Sunday’s New York Times. Two years after Egypt’s impending economic disasterbecame apparent, it leads the liberal newspaper of … Continue reading →

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Another One Bites the Dust

Posted on October 16, 2012 by DRenegade

A123 Systems Inc. has filed for bankruptcy. This company was praised by Obama in September 2010: “This is about the birth of an entire new industry in America — an industry that’s going to be central to the next generation … Continue reading →

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Stockton California Mediation Fails – Largest City in History to Declare Bankruptcy

Posted on June 26, 2012 by DRenegade

What is Chapter 9 bankruptcy? Bob Deis, Stockton city manager, said the move is a legal method to prevent financial and legal chaos. The city is facing a budget shortfall of nearly $26 million and must, by state law, adopt a … Continue reading →

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Another Green Energy Company Bankrupt – Cost to Taxpayers Is $118.5 Million

Posted on January 26, 2012 by DRenegade

Ener1 is the latest Obama endorsed Green Energy company to file for bankruptcy protection. The cost to taxpayers is $118.5 million and the company needs an “infusion” of $81 million to restructure. Obama mentioned this partnership in his state of … Continue reading →

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