bankruptcy

Mortgage Unit Of Ally Financial Files For Bankruptcy

It still owes the government just under $12 billion from a $17.2 billion dollar loan it got during the financial meltdown of 2008 and ’09.

WWJ Newsradio 950–2012/05/14

Workers prepare Hostess Twinkies for packaging at the Interstate Bakeries Corporation facility in Illinois. (Credit: Tim Boyle/Getty Images)

Hostess Could Lay Off 381 Workers In Michigan

Hostess Brands Inc. has told Michigan officials that it could lay off all of its 381 employees at 20 locations in the state if the company liquidates as part of its bankruptcy restructuring.

WWJ Newsradio 950–2012/05/11

Patterson: Detroit A ‘Tinderbox’ Headed For Unrest, Bankruptcy

“Detroit … couldn’t survive without a manger,” Patterson told attendees at an Chamber of Commerce breakfast at Oakland University on Wednesday.

WWJ Newsradio 950–2012/03/28

ECD, United Solar File Chapter 11

Citing high debt and legacy costs, Energy Conversion Devices Inc. and its solar panel manufacturing subsidiary United Solar Ovonic LLC filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court for the Eastern District of Michigan.

WWJ Newsradio 950–2012/02/14

American Laser Centers Files For Bankruptcy Protection

A Farmington Hills-based company that leads the nation in so-called medi-spa services and has more than 100 locations across the nation has filed for bankruptcy protection.

WWJ Newsradio 950–2011/12/31

Employee Files Suit Against Borders For Lost Wages

Creditors have their hands out as the Borders Group Inc. filed for bankruptcy and now, the line is getting longer.

WWJ Newsradio 950–2011/09/07

Report: Borders Deal On Verge Of Collapse

The Wall Street Journal is reporting that the private equity firm that tentatively agreed to purchase bankrupt Ann Arbor-based Borders Group is having second thoughts.

WWJ Newsradio 950–2011/07/14

Snyder: Won’t Let Detroit Go Bankrupt

Gov. Rick Snyder tells reporters in Lansing that he is not going to let Detroit or any other Michigan city fall into bankruptcy.

WWJ Newsradio 950–2011/06/15

Emergency Manager: Merge Pontiac With Oakland County

Pontiac’s Emergency Manager has written a letter to Executive Brooks Patterson asking for a meeting to discuss the possibilities of merging the city with the county.

WWJ Newsradio 950–2011/06/10