Municipal Bankruptcy - Harrisburg, PA Making Headlines

(Reuters) - If knee-jerk reactions could be taxed, Pennsylvania's capital city could be closer to escaping its $315 million financial hole. David Unkovic, the man the state appointed three weeks ago to find a way out for debt-ridden Harrisburg, initially faced a barrage of criticism, particularly regarding his past relationships with large creditors of the city. However, he appears to be converting critics while maintaining his pledge that everyone will feel pain when he unveils his recovery plan for the city. Unkovic was applauded by 150 people who visited a city bookstore Monday evening to hear what he had to say about his work in...

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Posted in harrisburg bankruptcy , Municipal Bankruptcy , pennsylvania bankruptcy

Saab Bankruptcy Leads to Warranty Concerns

SAAB, a company that was once renowned for style and sophistication, a thinking person's car, is now in its death rattle. After its parent company, Swedish Automobile NV, applied to a Swedish court to put three critical parts of the enterprise, Saab Automobile, Saab Powertrain and Saab Automobile Tools, into bankruptcy, the status of warranties on new Saab cars sold here remains under a cloud. There are about 50 unsold new Saabs in local dealerships and in the Australian distributor's stock, on top of sold Saabs still under warranty. Last year, Saab sold just 14 cars Australia-wide from eight dealerships. This year it faired better with...

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Posted in automaker bankruptcy , Saab bankruptcy

Dodgers, Fox Battle Over Media Rights Sale

WILMINGTON, Del. (AP) — Attorneys for the Los Angeles Dodgers and Fox Sports squared off in court Wednesday over the team's plan to sell the media rights to games starting in 2014 as part of its plan to exit bankruptcy. The Dodgers are asking a U.S. Bankruptcy Court judge in Delaware to approve a process for selling the television rights to future games as part of a settlement with Major League Baseball that also calls for the sale of the team and Dodger Stadium. Fox, whose Prime Ticket subsidiary owns the current television contract with the Dodgers, is challenging the proposed sale process, saying it would violate Fox's rights under the existing...

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Posted in Dodgers Bankruptcy , Media Rights