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Judge rules that reorganization plan unfairly discriminates against $1 billion in claims held by Dish Network chairman Charlie Ergen. Parties have until May 27 to reach an agreement or a mediator will be appointed.
Following months of speculation on when it would file for bankruptcy, private equity-backed Energy Future Holdings has commenced Chapter 11 proceedings to implement a restructuring that would split the company between creditors and eliminate more than $26 billion in debt.
Pizza chain Sbarro has won interim approval to use cash collateral and $20 million in debtor-in-possession financing as it aims to confirm a prepackaged reorganization plan.
The Italian restaurant chain plans to cut more than 80% of its outstanding debt in its second bankruptcy.
Bitcoin exchange Mt. Gox has filed for bankruptcy in Tokyo after 850,000 bitcoins valued at about $475 million "disappeared."
The power plant owner, backed by Bill Gates' Cascade Investments, gets $125 million DIP, but will have to sell assets.