December 2, 2001: Enron Files for Bankruptcy
The rise and fall of Enron is an instant classic in the annals of capitalism because, in one calamitous stroke, it wipes out so many sanctified illusions that rule in the magic marketplace. Enron embodies Nobel-class hubris like that of the market …
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Prepackaged Bankruptcy Offers Investors A Quick Return To Liquidity
Prepacks in the SDNY can be confirmed as soon as 30 days from the bankruptcy filing and generally do not take longer than approximately 80 days to complete (with many finishing much sooner). To this end, the local rules for the SDNY provide that the …
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Bank of Italy says asked to stop small investors buying junior debt-paper
Italy is grappling with the fallout of a rescue of four small banks, carried out in November under new European Union rules that impose losses on investors when a bank is in trouble in an effort to shield taxpayers. Some 130,000 shareholders and …
Read more on Reuters