San Bernardino should be allowed to stay in bankruptcy, bond insurer Ambac Assurance Co. and a bondholder owed $50 million said in court papers opposing other creditors’ efforts to strip the California city of federal court protection.
Apple Inc., the world’s biggest technology company, “played a central role” in conspiring with five publishers to fix the prices of electronic books, and will face a trial to set damages, a federal judge ruled.
Residential Capital LLC, the bankrupt mortgage company, filed a reorganization plan estimating unsecured creditors will recover about 36 percent of what they are owed, while debts backed by collateral will be paid in full.
Excel Maritime Carriers Ltd., the Greek shipping company that operates 38 dry-bulk vessels, filed for bankruptcy protection in the U.S. after extending a voting deadline on a reorganization plan with senior lenders.
Orchard Supply Hardware Stores Corp., the operator of 91 hardware stores with a $205 million offer from Lowe’s Cos. for at least 60 of them, won court approval to hold going-out-of-business sales at eight underperforming stores and potentially another 22.