Robert Stark News
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Washington Mutual Inc., the former owner of the biggest U.S. bank to fail, resolved a dispute that had threatened to block common shareholders from getting stock in the only part of the company to exit bankruptcy.
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Preferred shareholders of Washington Mutual Inc., the former owner of the biggest U.S. bank to fail, voted against the company’s $7 billion reorganization proposal, jeopardizing a plan to pay common shareholders.
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Tribune Co. agreed to back a plan by two of its hedge fund lenders that lets the publisher’s newspapers and television stations exit bankruptcy while creditors sue one another over the company’s 2007 buyout.
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Tribune Co. dropped its opposition to a court-supervised examination of its 2007 leveraged buyout, a victory for junior bondholders who claim the $8.3 billion transaction caused the publisher’s bankruptcy.
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Energizer Holdings Inc. , known for its battery powered pink bunny and Schick shavers, won court permission to bid for bankrupt competitor American Safety Razor Co. as a judge rejected the outcome of an earlier auction.
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Visteon Corp. ’s official creditor committee accused distressed-debt investors of “chicanery” and asked a judge for permission to investigate their actions in the auto-parts maker’s bankruptcy.
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Tribune Co. met with creditors opposed to its reorganization plan, six days after the bankrupt publisher said it was shut out of discussions about its future.
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Washington Mutual Inc.’s agreement with shareholders, aimed at ending opposition to the company’s more than $7 billion reorganization proposal, has fallen apart, three people with direct knowledge of the negotiations said.
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Visteon Corp. ’s suppliers are being asked to vote down the car-parts maker’s plan to exit bankruptcy in order to win more money.
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