Bankrupt Unit Spurs Loss for Datatron Inc. Datatron Inc., a manufacturer of computer software and electronic test systems that is liquidating a subsidiary through bankruptcy proceedings, reported a loss of $385,868 in its fiscal 1985 second quarter, on sharply reduced revenues.
But every now and then, there actually is competitive bidding, like with the proceedings involving Residential Capital, the bankrupt mortgage unit of Ally Financial.
Berkshire Hathaway offered on Monday to buy most of Residential Capital, the bankrupt mortgage unit of Ally Financial, trying again to acquire the business.
In Suntech's case, the bankrupt operating unit has been turned over to a local government to manage while in receivership, and that government has been trying to protect jobs.
Having insisted for weeks that he had made no direct approaches about GM Europe, on May 4th he went to Berlin to present the German government with a plan that would give Fiat control of much of Opel (which includes Vauxhall in Britain) and possibly Saab, GM's bankrupt Swedish unit.
GM will also increase charges related to bailing out its bankrupt former unit Delphi.
In 1992 Carlyle snapped up Vought, then part of the bankrupt aerospace unit of LTV, putting up $38 million for 51%.
And also no surprise that the transfer of the asset from the bankrupt operating unit to the still-solvent parent company is currently the subject of an independent investigation, ahead of upcoming bankruptcy proceedings.
Toshiba wants to sell the unit quickly to cover billions of dollars in cost overruns at its bankrupt Westinghouse nuclear unit and to dig itself out of negative shareholder equity that could lead to a delisting.
GOLDMAN SACHS GROUP INC., New York, the investment firm, agreed to acquire stakes in 12 power plants and a natural gas pipeline from National Energy & Gas Transmission, Bethesda, Md., PG&E Corp.'s bankrupt power generating unit, for $656 million.
