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DealBook » MF Global Creditors File Liquidation Proposal | Unsecured creditors of MF Global, led by Silver Point Capital, Knighthead Capital and Cyrus Capital Partners, filed a proposal on Thursday that they say could pay back former customers of the brokerage firm in full, Reuters reports.
Charles Lazarus, the 94-year-old founder of Toys R Us, died Thursday, about a week after the company announced it would file liquidation papers and likely close all of its U.S. operations.
Toys R Us, an iconic U.S. retailer of children's toys, has announced plans to file liquidation papers and likely close most if not all of its remaining stores, potentially impacting up to 33,000 U.S. workers.
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If it is not approved, Mr. Voser said, Combustion Engineering will file for liquidation and the additional contributions from ABB would be off the table.
Dan Cohen, the company's third chief executive, said in a statement that financial difficulties had left the company no option but to file for liquidation in a district court and to request the appointment of a provisional receiver "to find the best way to minimize the damage to its employees, customers and creditors".
If Mt.Gox does indeed file for liquidation, however, it makes it even more unlikely that creditors will recover all of their assets.
A second was the Mantis Motor Cycles project, which suffered from the collapse of the British motorcycle industry in the mid-1970s, culminatinGillanillan being forced to file for liquidation.
FINANCIAL TIMES Sportcraft Files for Liquidation | The Chapter 7 filing by the privately held Sportcraft is a blow to its majority owner, Wasserstein & Company, the private equity firm that manages money for the estate of the late Bruce Wasserstein and other investors.
Since Mr. Kaplan's indictment, BetOnSports filed for liquidation and, in May 2007, entered a guilty plea to racketeering charges.
As The Times reported Monday, Saab filed for liquidation after a takeover by Chinese investors was blocked by General Motors.
The firm's spokesman, Russell Sherman, said: "Because the two funds are incorporated in the Cayman Islands, the funds' boards filed for liquidation there.
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