Chapter 11 Bankruptcy, Debt | featured news

Contec Holdings Ltd., the cable-box repair company owned by Bain Capital Partners, filed for Chapter 11 bankruptcy protection Wednesday with a plan in hand to restructure some $360 million in debt.

Two large Philadelphia daily newspapers hope to emerge from bankruptcy debt-free by paying creditors $37 million in cash plus real estate to settle nearly $400 million in debt.

Philadelphia Newspapers filed its reorganization plan Thursday, six months after filing for Chapter 11 bankruptcy.
The plan gives creditors the iconic downtown building that houses The Philadelphia Inquirer and Philadelphia Daily News.

The fate of Chrysler shifted from Washington to a Manhattan courtroom on Friday, as lawyers for the automaker sought a settlement with creditors.

The Treasury Department has sweetened its offer to holders of Chrysler’s secured debt in a last-minute attempt to keep the iconic American automaker out of bankruptcy court, according to people briefed on the matter.