Bankruptcy

Oil pumps

High-Yield Bond Defaults Top $50 Billion to Date in 2016

The default rate on U.S. high-yield bonds rose to 4.9% in the first half of 2016, with a total value of $50.2 billion. In all of 2015, the total value ...
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oil tanker

Has $800 Billion in Oil Simply Disappeared?

By one count, some 3 billion barrels of crude oil valued at about $840 billion have gone missing since the end of 2014. Adding in oil-equivalent barrels of natural gas, ...
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Oil platform on sea

Hercules Offshore Files Prepackaged Bankruptcy

Less than two weeks ago, Hercules Offshore Inc. (NASDAQ: HERO) announced that it had reached a restructuring support agreement with lenders holding about 99% of the company's first-lien debt. Monday ...
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Losing sports fan

Under Armour Is Not Sports Authority’s Only Victim

The bankruptcy and liquidation of Sports Authority has probably had more impact on the sporting goods market that anything the company has done recently. In an earnings warning issued Tuesday, ...
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burning cash

StemCells Reminds Investors of the Lessons of Outright Implosion

StemCells Inc. (NASDAQ: STEM) just reminded investors and speculators alike just how dangerous it can be to invest in biotech and biohealth companies. The company issued a press release signaling ...
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Offshore Drilling Rig

Hercules Offshore Restructures Debt Again

Offshore services provider Hercules Offshore Inc. (NASDAQ: HERO) announced Friday morning that the company has reached a restructuring support agreement with lenders holding about 99% of the company's first-lien debt. ...
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Money

Household Debt Trends Improve in Q1 2016, With Bankruptcies Way Down

The Federal Reserve Bank of New York has released its report measuring household debt and credit developments in the first quarter of 2016. Though it is a regional Fed bank issuing ...
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Pump Jacks Against at Dusk

2 More Energy Bankruptcy Filings: Breitburn and SandRidge

As of May 1, some 27 oil and gas exploration and production companies had filed for bankruptcy protection. Since then four more have sought protection, with two filings announced Monday morning. ...
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bankruptcy

SunEdison Finally Files for Bankruptcy

Solar PV maker SunEdison Inc. (NYSE: SUNE) announced Thursday morning that it had voluntarily filed petitions for a Chapter 11 reorganization with the bankruptcy court for the southern district of ...
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Solar rooftop

SunEdison Seeks Financing for Likely Bankruptcy Filing

In a filing with the U.S. Securities and Exchange Commission (SEC) Friday morning, SunEdison Inc. (NYSE: SUNE) said it has entered into confidentiality agreements with certain of its first- and ...
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Coal

Why Peabody Energy Bankruptcy Filing Is No Surprise

In an announcement released very early Wednesday morning, Peabody Energy Corp. (NYSE: BTU) filed voluntary petitions for Chapter 11 bankruptcy protection for the majority of its U.S. entities. No Australian ...
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fracking

Another Bakken Oil Company Files for Bankruptcy

Independent oil and gas producer Emerald Oil Co. (NYSEMKT: EOX) filed for bankruptcy Tuesday after markets closed. The company's main area of operations is the Bakken shale play in North Dakota ...
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CNG sign

Alternative Fuel Company Quantum Files for Chapter 11

Quantum Fuel Systems Technologies Worldwide Inc. (NASDAQ: QTWW) announced Wednesday morning that it has filed for Chapter 11 bankruptcy protection in federal bankruptcy court for the central district of California. Quantum expects ...
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boardwalk

Amidst All Its Splendor, Atlantic City May Go Under

According to Atlantic City's description of itself, it is one of the best places in the world to visit or live. On the other hand, Mayor Don Guardian says it won't ...
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Store Closing

Aeropostale Trouble Risks 3,000 Jobs

The tattered turnaround at Aeropostale Inc. (NYSE: ARO) just ended. The company has put itself up for sale. Its financials and lack of customers could undercut that effort. Over 3,000 jobs ...
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