Chapter 11 Bankruptcy Protection News
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Rue21 Inc., which sells tank tops and graphic tees to teenagers at affordable prices, is shaping up to be the next target after private-equity investments in retail reached the highest amount since before the U.S. recession.
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Quinpario Partners LLC, a private- equity fund seeking changes at Ferro Corp. and Zoltek Companies Inc., expects to take active stakes in more chemical and materials companies needing “reinvigoration,” Chairman and Chief Executive Officer Jeffry Quinn said.
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W.R. Grace & Co., the chemical company that’s been under bankruptcy protection for 12 years, fell the most in nine months after quarterly earnings missed analysts’ estimates and full-year profit projections were reduced amid weakening European demand.
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A New York dairy farm and a Norwegian energy company asked an appeals court to throw out drilling bans imposed by two towns as a five-year moratorium on hydraulic fracturing in the state nears an end.
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Just when it looked like 2013 couldn’t get worse for hedge-fund manager William Ackman, one of his longest-standing investment allies is abandoning ship.
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Pinnacle Airlines Corp., which provides regional flights for Delta Airlines Inc. and United Continental Holdings Inc., sought bankruptcy protection after costs rose and revenue declined.
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Sierra Nevada Corp. and Embraer SA, its Brazilian subcontractor, beat Beechcraft Corp. in a fight for a U.S. military contract valued at as much as $950 million.
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Sierra Nevada Corp. and Embraer SA, its Brazilian subcontractor, have won a $427 million U.S. military contract to provide aircraft for the Afghan army after more than a year of delays and protests.
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Professional Veterinary Products Ltd., a Nebraska-based veterinary supply distributor, sought protection from creditors, citing slumping sales in the faltering economy.
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Jon S. Corzine, MF Global Holding Ltd.’s former chief executive officer, may face potential legal liability if investigators show he knew customer money might be used when he ordered $200 million transferred to a U.K. account as his brokerage neared collapse, Bloomberg News’ Linda Sandler and Phil Mattingly report that former prosecutors said.
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