Articles about Bankruptcy

RadioShack

YOUR DATA could be SOLD in RadioShack's bankruptcy auction

Customer data is being considered as an asset for sale as part of RadioShack's Chapter 11 bankruptcy auction. The auctions, which took place earlier this week, are set to receive either approval or rejection from a federal bankruptcy court on Thursday. Among the assets available are 250+ stores in Mexico, just under 1,000 …
US spectrum map

Ping-pong sueballs: Bankruptcy dogs LightSquared's chances

Stricken US mobe network LightSquared is wriggling for survival in Chapter 11 bankruptcy. The idea of Chapter 11 is to provide protection for a company so that it can trade through difficulties and hopefully get back to trading normally. The system was to use a combination of 4G (LTE) and satellite to deliver national high- …
Simon Rockman, 10 Mar 2015
RadioShack

Spavined RadioShack to file for bankruptcy next month – report

Ailing electronics retailer RadioShack is teetering ever closer to insolvency, reports claim, with a potential bankruptcy filing to come as soon as next month. Although RadioShack has not said that it plans to file for bankruptcy, the Wall Street Journal reports that Salus Capital Partners has already offered it $500m in …
Neil McAllister, 16 Jan 2015
RadioShack

Bankruptcy could see RadioShack close doors for good – report

Struggling electronics retailer RadioShack may not emerge from bankruptcy intact after all, sources claim. On Monday, Bloomberg reported that the cash-strapped firm may be preparing to cease all retail operations, citing anonymous sources familiar with the company's plans. Earlier reports suggested RadioShack was in talks to …
Neil McAllister, 03 Feb 2015
Apple Watch

'Apple Watch' sapphire glass maker files for bankruptcy protection

The firm which was rumoured to have been manufacturing sapphire glass for Apple's upcoming smartwatch has filed for bankruptcy protection. Sources had been whispering that Apple was planning to use the scratch-resistant material for the screens on the Apple Watch and forthcoming models of the iPhone. GT Technologies filed for …
Jasper Hamill, 06 Oct 2014

MtGox boss Karpeles ordered to Dallas to face bankruptcy probe

MtGox CEO Mark Karpeles has been ordered by a judge to return to the US to face questions over his bankruptcy filing with a Dallas court and how 750,000 Bitcoins went AWOL. Bankruptcy judge Stacey Jernigan ruled that Karpeles must appear at the Dallas office of his lawyers Baker & McKenzie on 17th April. This is ahead of a May …
Phil Muncaster, 02 Apr 2014
RadioShack

As bankruptcy looms for RadioShack, we ask its chief financial officer... oh. He's quit

The chief financial officer of struggling US electronics retailer RadioShack has resigned – as the company faces a fiscal crisis from which it has warned it may not be able to recover. John Feray, who had served as RadioShack's CFO for nine months, stepped down on September 12, a new filing with the Securities and Exchange …
Neil McAllister, 15 Sep 2014

Bitcoin or bust: MtGox files for bankruptcy protection

Ailing Bitcoin exchange MtGox has filed for bankruptcy protection after admitting it did indeed "lose" 750,000 of its customers' Bitcoins along with 1000,000 of its own – together worth about £283m. Lawyers for the digital funny money dealer told Tokyo District Court that MtGox had debt of ¥6.5bn yen (£38.1m, $63.8m). MtGox …
Jasper Hamill, 28 Feb 2014
The Register breaking news

Picture this: Kodak could get out of bankruptcy as early as July

Eastman Kodak has said that it's hoping to get out of bankruptcy as early as July this year, as it turns itself into a commercial imaging firm under the control of its creditors. The one-time camera company told the US bankruptcy court in Manhattan that it expects to issue new stock, with most of it going to folks it owes money …
gavel_judgment_channel

Ailing French memory maker Dane-Elec granted bankruptcy protection

French memory manufacturer and distributor Dane-Elec has bought itself some time to plot a turnaround strategy after being granted bankruptcy protection by a court in its native country. The firm was spooked by a string of nasty half year results and entered the "safeguard procedure" on 17 October, which gives it six months to …
Paul Kunert, 24 Oct 2012
Ship in trouble

Standard General bids to save RadioShack from oblivion

Historic retailer RadioShack, currently under Chapter 11 bankruptcy protection, will learn its fate today, as its assets go up for auction, although its options for survival look distinctly limited. A $145.5m bid from Standard General LP, a hedge fund which is also one of RadioShack’s lenders, could save 9,000 jobs and 1,723 out …
Simon Rockman, 23 Mar 2015
The Register breaking news

Pirate Bay’s neo-Nazi sugar daddy files for bankruptcy

The millionaire financier of scofflaw torrent site The Pirate Bay has filed for personal bankruptcy. Carl Lundström, an heir to the Wasabröd crispbread fortune, was the most visible of the Pirate Bay four, and oversaw the internet sites' business operations, helping to funnel revenue overseas to avoid paying corporation tax, as …
Andrew Orlowski, 21 Sep 2012
_taken_from_fox_news_still_on_youtube falcone lightsquared

LightSquared files for bankruptcy

Just hours before the expiration of a deal designed to keep it from defaulting on its debt, 4G wannabe LightSquared announced on Monday that it was filing for Chapter 11 bankruptcy protection. "The filing was necessary to preserve the value of our business and to ensure continued operations," said the company's interim co-COO …
Rik Myslewski, 14 May 2012
The Register breaking news

Kodak's using bankruptcy to rob us of our rights – Apple

Apple has hit back at Kodak's attempts to get the firms' patent issues sorted out in bankruptcy court, filing a motion in district court asking the judge to move the row there. Kodak has accused Apple of "frivolous" claims to its patents, saying that Cupertino's only purpose is to delay the camera company's sale of those patents …
Broke - empty pockets

Bankrupt RadioShack to close up to 2,900 stores, share others with Sprint

RadioShack filed for bankruptcy protection on Thursday, in a long-expected move that will result in the struggling electronics retailer closing around half of its stores in the US and Canada. The firm is seeking protection under Chapter 11 of US bankruptcy law, which will allow it to continue operations as it attempts to …
Neil McAllister, 06 Feb 2015
Aereo antenna array

Scavengers pick bones of collapsed telly-spaff upstart Aereo

Erstwhile TV streamer Aereo has held the auction to sell off its remaining assets to help cover its debts. The results: not so good. The company was able to get just US$1.54m for the sale of its trademarks, patents, domains and customer lists. A trio of companies, including DVR-maker TiVo bought the assets. According to a …
Shaun Nichols, 27 Feb 2015

Apple, GT in SECRET SAPPHIRE peaceable parting PACT

Apple and GT Advanced Technologies, the materials company that was once slated to provide scratchproof sapphire glass for iPhones and other Apple products, have agreed to an "amicable parting of the ways," according to sources with knowledge of GT's bankruptcy litigation. The Wall Street Journal reports that Apple and GT will …
Neil McAllister, 22 Oct 2014
closed_sign shut down under collapsed liquidation

2014: The year of the cloudy biz bankruptcy... or maybe it isn't?

Once again the channel has proved to be a hardy bunch as insolvencies remained pretty much stable in 2013, despite a meltdown in some areas of tech infrastructure spending. Some 293 resellers bit the dust in the previous calendar 12 months, versus 285 in the previous year: a 2.8 per cent rise. 66 hit the wall in Q4, up from 57 …
Paul Kunert, 23 Jan 2014
Batteries

Tim Cook slurped our brains, snarl fat battery bods A123

Battery manufacturer A123 Systems, specialists in large-scale battery tech for vehicles and power grids, has slung a sueball at Apple for allegedly poaching its engineers. The case concerns five former employees of A123 currently employed by Apple, according to a court filing released on Tuesday. While employed by A123, the …
Kat Hall, 19 Feb 2015
Pigeon crapping on statue

Tears, laughter and bankruptcy: How not to go bust

Feature Bankruptcy? You don't know whether to laugh or cry. It was a lunchtime tech awards ceremony in the West End many years ago. The trophies were polished, the golden envelopes were ready to be opened to gasps of joy and waiters were circulating with the canapes and fizz. Suddenly some rather large men in suits appeared among the …
Steve Bell, 30 May 2013
The Register breaking news

Game over for Atari? One life left as biz files for bankruptcy protection

Atari Interactive Inc has sought protection from US creditors, 41 years after Nolan Bushnell’s gaming legend was born with Pong. Atari has entered Chapter 11 bankruptcy protection, a provision in US law that’ll enable the struggling biz to operate and potentially restructure without those it owes calling in their debts. The …
Gavin Clarke, 21 Jan 2013
chart

Fallen DRAMurai warrior Elpida files for bankruptcy protection

Japanese chipmaker Elpida Memory filed for bankruptcy protection today after failing to find anyone willing to save it. Despite rumours that a number of suitors were interested in slurping a stake in the DRAM manufacturer, including Micron Technology and Toshiba, Elpida has had to apply to restructure its business under …

SHATTERED: Apple's jilted glass supplier to shut down sapphire ops

Updated GT Advanced Technologies, the struggling materials firm that was once tapped to provide durable sapphire glass for Apple, says it will cut staff and close its sapphire manufacturing plants as it moves toward bankruptcy protection. In documents filed with the New Hampshire bankruptcy court on Friday, GT said the "cash burn" at …
Neil McAllister, 10 Oct 2014

What a Mesa: Apple vows to re-use titsup GT sapphire glass plant

Apple has vowed to protect jobs in Mesa, Arizona, and told city leaders it will not walk away from its stricken sapphire glass factory. The future of the entire city of Mesa looked deeply uncertain after Apple ally GT Technologies filed for bankruptcy, shutting down the factory and axing 890 jobs. Now Cupertino has quietly …
Jasper Hamill, 19 Nov 2014
A sapphire gemstone

Sapphire glass maker's woes caused by Apple relationship 'breakdown'

Analysts have suggested the collapse of sapphire glass manufacturer GT Advanced Technologies may have been caused by a "breakdown" in relations with Apple. The iThing giant appeared to be determined to use the scratch-resistant wonder material in its new iPhones and the Apple Watch, but those plans were thrown into doubt on …
Jasper Hamill, 08 Oct 2014
Bitcoin bloodbath

MtGox, that bastion of unregulated e-currency Bitcoin, turns to Texas judge for protection

The embattled MtGox Bitcoin exchange has been thrown a lifeline by a US bankruptcy court in the northern district of Texas – which has shielded the company from litigation. Judge Harlan Hale granted a motion [PDF] to place the company under Chapter 15 bankruptcy, a classification that will help it fend off, for the time being, …
Shaun Nichols, 11 Mar 2014
Bitcoins

MtGox chief Karpelès refuses to come to US for g-men's grilling

Mark Karpelès, the founder of imploded Bitcoin exchange MtGox, says he won't come to the US to answer officials' questions after his trading website mislaid 850,000 BTC. Lawyers for MtGox said Karpelès had received a subpoena from the US Department of Treasury's Financial Crimes Enforcement Network (FinCEN) to come to a …
Pigeon crapping on statue

That's all folks! US TV streaming upstart Aereo files for bankrupcy

It's the end of the line for the TV streaming biz Aereo: it has filed for Chapter 11 bankruptcy protection and appointed a chief restructuring officer to extract some remaining value from its assets. "Our engineering team created the first cloud-based, individual antenna and DVR that enabled you to record and watch live …
Iain Thomson, 21 Nov 2014
The Register breaking news

Mp3Tunes files for bankruptcy

For Michael Robertson, it’s déjà vu all over again. The same flexible and somewhat optimistic interpretation of copyright law that sank his music service in the dot.com bubble has also sunk his current music service, over what was essentially the same idea. On Friday Robertson’s cloud music locker – MP3Tunes – filed for …
Andrew Orlowski, 14 May 2012
Bitcoins

Bankrupt Bitcoin blunder bunker MtGox finds a friend to fend off out-of-pocket investors

Tokyo-based Bitcoin blunder exchange MtGox is officially under US bankruptcy protection, after a Texas court granted approval to start Chapter 15 proceedings for the failed marketplace. MtGox applied for bankruptcy protection in the US and Japan, and has put together a plan to settle class-action sue-balls investors have lobbed …
RadioShack

RadioShack lists 1,800 stores facing the axe across America

Bankrupt headphones and USB memory stick chain RadioShack has posted the complete list of 1,784 shops it hopes to close across America. The gadget flogger said these stores [PDF] are potentially set for closure. The threatened shops include high-profile spots in Market Street in San Francisco, New York City's Flatiron district, …
Shaun Nichols, 10 Feb 2015
Bitcoin bloodbath

MtGox gets its sorry assets frozen amid US class-action lawsuit

Embattled Bitcoin exchange MtGox has experienced a setback in its efforts to gain bankruptcy protections in the US, their opponents' legal team tells us, as the company has been hit with a temporary restraining order freezing its assets. The order, attorney Christopher Dore of Edelson PC tells The Reg, was obtained by plaintiffs …
Shaun Nichols, 11 Mar 2014
Tim Cook

Apple: We're still GREAT pals with GT and we'd LOVE to team up again

Apple hasn't given up on scratch-resistant sapphire glass for future products and it might even continue to work with GT Advanced Technologies on the material despite its past difficulties with the company, according to documents released on Thursday. In papers [PDF] filed as part of GT's bankruptcy proceedings, GT agreed to " …
Neil McAllister, 23 Oct 2014
The Register breaking news

Kodak's moment: Camera biz files for bankruptcy

Comment Iconic and inept US camera and film company Kodak has finally pressed the shutter button: it has filed for Chapter 11 protection. Citigroup has stumped up $950m for a credit facility over eight months while the bankruptcy process is worked out. Beset by the digital camera revolution and screwed by a breathtakingly stupid entry …
Chris Mellor, 19 Jan 2012

Apple and GT: Sapphire glass is cracked, but still not broken

Apple's use of the legendary tough and durable sapphire glass in its equally legendary products hangs in the balance following the collapse of its main supplier. GT Advanced Technologies filed for bankruptcy protection on Monday, causing its share price to crash and burn — falling by 93 per cent to a measly 80 cents. Now …
Jasper Hamill, 08 Oct 2014
Seattle cityscape made from computer parts

Watch out Wizard, Bezos wants the Emerald City for himself

Amazon has agreed to lease two more buildings in the South Lake Union neighbourhood of Seattle, in a deal leaving the company occupying a quarter of the city's best office space. The Seattle Times spoke to real estate expert, Kip Spencer, who acknowledged the situation has placed many local eggs in the one big Amazon basket. …

'Hacked docs' prove MtGox has 1 MILLION Bitcoins, claim blog-snatchers

Hackers have released what they claim are genuine documents which they say prove the stricken exchange still controls almost a million Bitcoins. As Bitcoin exchange MtGox was filing for bankruptcy in the US on Sunday, a group of hackers took over MtGox CEO Mark Karpeles' personal blog, which has since been taken down, and posted …
Jasper Hamill, 10 Mar 2014

Borked Bitcoin bunker MtGox in administration: Lawyer seizes control

Collapsed Bitcoin exchange MtGox has been put into administration by a court in Japan, where the website is based, after it became clear the site's chances of recovery are nil. The biz, which has mislaid half a billion dollars of BTC, was granted protection from creditors in February by the Tokyo District Court as it battled to …
blackmail

Hackers seize Detroit's database, demand $800k. Motor City shrugs: OK, take it

Hackers seized a database from the City of Detroit earlier this year before unsuccessfully demanding $800,000 in Bitcoin. The failed extortion attempt back in April was disclosed by Detroit mayor Mike Duggan at the North American International Cyber Summit conference on Monday. The stolen database wasn’t needed by the cash- …
John Leyden, 20 Nov 2014

Lloyds supplier payments TITSUP: What, you want MONEY from a BANK?

Exclusive Lloyds Banking Group’s (LBG) failure to settle debts with some tech suppliers over the past few months has reached “crisis” point, and could have dire consequence for smaller players, sources tell us. The High Street lender recently automated its payment processing system and brought it back on-shore with the intent of speeding …
Paul Kunert, 16 Jan 2015
OCZ Vertex 4 256GB SSD

OCZ goes titsup, flogs own corpse to Toshiba

Solid state disk maker OCZ Technology Group has gone titsup and filed for bankruptcy. The company has been in a mess for years, having recently 'fessed up to all manner of balance sheet borkedness and corrected its last four years' worth of financial emissions. Other efforts to right the ship included a big restructure that now …
Simon Sharwood, 28 Nov 2013

Speaking in Tech: Too fat for MARS!

Podcast speaking_in_tech Greg Knieriemen podcast enterprise Join Ed Saipetch and Sarah Vela, co-hosts of our weekly techcast, who are missing the party in Barcelona to bring you the piping hot news from the world of technology … First off, they discuss the hypothetical all-female Mars crew – who needs men when you have robots? …
Team Register, 23 Oct 2014
The Register breaking news

Righthaven may have to file for bankruptcy

Righthaven’s woes continue to mount: after last week denying that its business model was in trouble, the litigation outsourcing outfit has asked a judge to stay an order granting legal fees to one of its targets. According to this report in Vegas Inc, the request for a stay in granting more than $US34,000 in fees to successful …

Sueball-slingers seek stake in bankrupt Bitcoin blunder bunker MtGox

US and Canadian Bitcoin investors have offered to settle their class-action lawsuits against the bankrupt MtGox exchange in return for a stake in the firm and the return of any of the digital currency it still holds. The Bitcoin traders told the courts that they support a plan by Sunlot Holdings to buy up MtGox and will drop …
Psystar logo

Hackintosher emerges from bankruptcy

The on-again, off-again slugfest between Apple and Hackintosher Psystar has taken yet another turn - and this one puts the feisty Floridians in a bit of a bind. The US Bankruptcy Court for the Southern District of Florida has granted Psystar's request to dismiss its Chapter 11 bankruptcy case. But there's a twist: The presiding …
Rik Myslewski, 11 Aug 2009
Arizona Governor Doug Ducey and officials in conference

Call Gordon Freeman! Apple to build $2bn 'data command center' – BLACK MESA?

Arizona state and local government officials were beaming on Monday over news that Apple has decided to locate its latest "global data command center" in the state. "It's one of the largest investments ever in Apple history," Arizona governor Doug Ducey said of the $2bn project in a press conference on Monday. "It means a 1.3 …
Neil McAllister, 02 Feb 2015

Judge spanks SCO in ancient ownership of Unix lawsuit

IBM has had a win in its long court battle with SCO over just who owns Unix and, by extension, whether Linux is an unauthorised clone. Some quick and simplified history: SCO – short for The Santa Cruz Operation – was a software company that offered a version of Unix for x86 chippery. When Linux came along in the late 90s and …
Simon Sharwood, 19 Dec 2014
Rotten apple

Apple on the art of the deal: 'Put on your big boy pants and accept the agreement'

GT Advanced Technologies (GTAT), the materials company that was once tapped to produce scratch-resistant sapphire glass for Apple's iPhone 6 and iPhone 6 Plus, has filed new papers in bankruptcy court describing the circumstances of its business's collapse – and it places the blame squarely at Apple's doorstep. In a jaw-dropping …
Neil McAllister, 08 Nov 2014

MtGox remedy worse than the disease says Kaspersky researcher

A 700MB file that hackers claimed contains valuable database information on bankrupted MtGox is actually hiding Bitcoin wallet file-stealing malware, researchers have warned. Kaspersky Lab’s Sergey Lozhkin claimed in a blog post last Friday that the entire data leak story, which emerged after MtGox CEO Mark Karpeles had his blog …
Phil Muncaster, 17 Mar 2014
US spectrum map

Judge: Odds of bankrupt Lightsquared sorting itself out are 'zero'

Bankrupt wireless company LightSquared is hoping to submit a restructuring plan that its creditors can agree with by this Friday, although the judge in the bankruptcy case thinks it's unlikely the firm will get everybody on board. In a hearing yesterday, LightSquared's attorney said the company was aiming to file a …