Advantage Rent A Car, spun off by Hertz Global Holdings Inc. to win U.S. approval for its purchase of Dollar Thrifty Automotive Group Inc., filed for bankruptcy after talks with Hertz over vehicle lease payments broke down.
FriendFinder Networks Inc., the owner of Penthouse magazine and thousands of adult-oriented websites, won court approval to seek creditors’ votes on its restructuring plan, which would turn the company over to noteholders.
The examiner for Washington Mutual Inc. issued his 353-page report late yesterday afternoon, concluding that the proposed settlement with the Federal Deposit Insurance Corp. and JPMorgan Chase & Co . “reasonably resolves contentious issues.”
Low-ranking creditors of Capmark Financial Group Inc. will fight the bankrupt company’s plan to use most of its remaining cash to repay a $1.5 billion loan made by a group that includes Goldman Sachs Group Inc.
NE Opco Inc., the largest closely held envelope maker in North America, won court approval of bankruptcy financing and a settlement with creditors and lenders that paves the way for an uncontested sale of the company.