Kao Corp., Japan’s biggest maker of toiletries, had its biggest two-day drop in two years in Tokyo trading after more than 2,000 consumers reported skin blotches from using some of its whitening products.
The Chapter 11 cases for units of Truvo Luxemburg Sarl, a Belgium-based publisher of directories, may test whether a U.S. bankruptcy court can or should eliminate debt on European companies that aren’t in bankruptcy in the U.S. or abroad.
Peter Brant, a one-time billionaire and an early patron of artist Andy Warhol, is using part of his contemporary art collection to help recapitalize the family newsprint business, according to state regulatory filings and people familiar with the matter.
Washington Mutual Inc. ’s official shareholders’ committee followed up on a suggestion made by the bankruptcy judge and filed another request for an examiner to investigate the merits of a proposed settlement with the Federal Deposit Insurance Corp. and JPMorgan Chase & Co.
Blockbuster Inc. , the movie rental chain, received interim approval from a bankruptcy judge yesterday for $45 million in financing from a promised loan that will grow to $125 million at the final hearing on Oct. 19.
Midland Loan Services Inc., the special servicer for $825 million in fixed-rate mortgages on property of Innkeepers USA Trust , filed papers on Feb. 1 objecting to the request by LNR Securities Holdings LLC and Appaloosa Management LP for the right to oppose the newly proposed Innkeepers reorganization structure.
Nortel Networks Corp. , once North America’s largest communications equipment provider, wants a bankruptcy judge to settle a dispute over Avaya Inc. ’s $915 million purchase of the corporate networks business that was completed last year.