Tag Archive: bankruptcy

Color Me Surprised

GM is going back into bankruptcy court:

A U.S. bankruptcy judge on Friday urged settlement talks in a dispute between General Motors Co and plaintiffs seeking compensation for the lost value of their cars stemming from a massive recall over a faulty ignition switch, though neither side seemed ready to negotiate quite yet.

Judge Robert Gerber, of the U.S. Bankruptcy Court in Manhattan, said he would welcome the prospect of a resolution that avoided

Read more

Saving Detroit

What the hell?

Ruling the governor and Detroit’s emergency manager violated the state constitution, an Ingham County Circuit judge ordered Friday that Detroit’s federal bankruptcy filing be withdrawn.

“It’s absolutely needed,” said Judge Rosemary Aquilina, observing she hopes Gov. Rick Snyder “reads certain sections of the (Michigan) constitution and reconsiders his actions.”

The judge said state law guards against retirement benefits being “diminished,” but there will be no such protection in federal bankruptcy court.

Read more

Hostess in Mediation as Website Gets Hacked

The drama continues.

A New York Judge has ordered Hostess and the kamikaze baker’s union to at least try working this out, but I think it’s too late.

Some of our own local businesses that use Wonder Bread (Arthur Bryant BBQ being one) are already being forced to switch to alternate vendors.  Grocery stores also aren’t going to let that prime shelf space sit empty while this drags on, are they?

For his part, Rayburn Read more