bankruptcy filing

Lehman Brothers Holdings Inc’s emergency bankruptcy filing wiped out as much as $75 billion of potential value for creditors, The Wall Street Journal reported on Monday.

Tribune Co., owner of the Los Angeles Times and Chicago Tribune, other newspapers and the Chicago Cubs and Wrigley Field, has hired financial advisers ahead of a possible filing for bankruptcy-court protection, according to reports on Sunday.

The Chicago Tribune reported its parent hired investment bank Lazard Ltd. and law firm Sidley Austin as it considers its financial options.

Tribune Co. spokesman Gary Weitman told the newspaper that the company was looking at all its options and had not made any decision on the matter.

Tribune Co., owner of the Los Angeles Times and Chicago Tribune, other newspapers and the Chicago Cubs and Wrigley Field, has hired financial advisers ahead of a possible filing for bankruptcy-court protection, according to reports on Sunday.

The Tribune Company is trying to negotiate new terms with its creditors and has hired advisers for a possible bankruptcy filing, according to people briefed on the matter.

The newspaper company has hired bankruptcy advisers in an effort to avoid a potential bankruptcy filing, people briefed on the matter said.

As the days pass and GM’s money burns away, bankruptcy is a distinct possibility.

But what, exactly, would a GM bankruptcy mean?

The nation’s top auto executives are on Capitol Hill this week begging for a lifeline, but the request is just a tad more desperate for General Motors Chief Executive Rick Wagoner.

Export Development Canada has stopped writing new polices to protect Canadian auto parts makers in the event of a bankruptcy filing by Chrysler.

Momentum is building in Washington for a rescue package for the auto industry to head off a possible bankruptcy filing by General Motors, which is rapidly running low on cash.

GM says a bankruptcy filing is not an option, but some analysts argue it could be positive outcome.