04/28/13 The Raw Bankruptcy Newswire

• THQ Inc. to Receive $6.55 Million in Sale of Certain Intellectual... _{2013-04-22, 05:56 pm}
  THQ Inc. today announced that it has completed the bidding and sale process on certain of its intellectual properties with three buyers emerging to pay $6.55 million for the six available lots, subject to Bankruptcy Court approval.
• FASB Issues Standard on the Liquidation Basis of Accounting _{2013-04-22, 07:58 pm}
  ... blocked by other parties or (b) a plan for liquidation is being imposed by other forces (for example, involuntary bankruptcy). In cases where a plan for liquidation was specified in the organization's governing documents at inception (for example, ...
• Energy Secretary Chu leaves post Monday _{2013-04-22, 07:46 pm}
  Deputy Energy Secretary Daniel Poneman will serve as acting secretary beginning Tuesday and serve until a successor is sworn in.
• UPDATE 1-US Energy Dep't recovers $21 mln from Fisker to repay loan _{2013-04-22, 07:45 pm}
  ... and a search for a buyer in China. The company also hired law firm Kirkland & Ellis to prepare a possible bankruptcy filing. Fisker was expected to make a payment on the DOE loan on Monday. A DOE official said the company did not make that payment, ...
• THQ Inc. to Receive $6.55 Million in Sale of Certain Intellectual... _{2013-04-22, 07:45 pm}
  THQ Inc. today announced that it has completed the bidding and sale process on certain of its intellectual properties with three buyers emerging to pay $6.55 million for the six available lots, subject to Bankruptcy Court approval.
• Budget Shocker: L.A. Shows $119 Million Surplus _{2013-04-22, 07:26 pm}
  For five years a chorus of voices has been predicting bankruptcy for Los Angeles, while often calling for deeper cuts to city employee pensions.
• City debates best way to acquire last piece of Japanese Gulch _{2013-04-22, 07:21 pm}
  ... attract the required turnout, but time is of the essence because another buyer could swoop in to buy the land. A bankruptcy court, however, is temporarily holding the land for the city of Mukilteo if the city can raise the funds. Lord supported ...
• Acting energy secretary to be sworn in Tuesday _{2013-04-22, 07:21 pm}
  Deputy Energy Secretary Daniel Poneman will serve as acting secretary beginning Tuesday and serve until a successor is sworn in.
• Candidate For Tulsa Mayor Goes Negative, Prompts Threats Of Litigation _{2013-04-22, 07:08 pm}
  It all goes back to the bankruptcy of Great Plains Airlines and former Mayor Kathy Taylor having the city pay off a bad loan for the airline.
• Gearbox acquires 'Homeworld' IP _{2013-04-22, 07:05 pm}
  ... online multiplayer. The acquisition is the result of a liquidation of THQ's assets in the wake of its Chapter 11 Bankruptcy filing back in December of 2012 after the company had defaulted on a $50 million loan. THQ initially saw some of its ...
• The Commons: A day to debate terrorism _{2013-04-22, 06:51 pm}
  Here at Maclean's, we appreciate the written word. And we appreciate you, the reader.
• THQ Auctions Remaining Assets _{2013-04-22, 06:48 pm}
  ... personally spearheaded the acquisition," the company said in the post. The Agoura Hills company, which filed for bankruptcy in December, auctioned its most valuable intellectual property in January, ultimately raising about $73 million in a ...
• Mexico to Unveil Bank Reform Tuesday in Effort to Boost Lending _{2013-04-22, 06:40 pm}
  ... call for the creation of a universal credit bureau that includes more measures of creditworthiness, and to speed bankruptcy proceedings and asset recoveries. The proposal would build on education and telecommunications reforms that have already ...
• Argentina Takes on Vulture Funds in "Debt Trial of the Century" _{2013-04-22, 06:31 pm}
  ... that often takes place on the individual level: You lose your job and you can't pay your debts. You file for bankruptcy and restructure your debts, but the owners of your hospital debt and credit card debt refuse to negotiate. Instead, these debts ...
• Going once, going twice! Gearbox picks up Homeworld in THQ auction _{2013-04-22, 06:08 pm}
  When the now-bankrupt THQ was broken up and sold for parts earlier this year, a few of the pieces weren't included in the deal.
• Over $1M In Debt, Janice Dickinson Files For Bankruptcy _{2013-04-22, 06:06 pm}
  According to a report, Supermodel-turned-reality TV star Janice Dickinson has declared herself bankrupt with debts of almost $1 million.
• Bankruptcy Fees Out of Control: Reform Panel _{2013-04-22, 06:05 pm}
  ... firms because of creditor-committee proliferation and a flawed compensation system, say experts. A corporate bankruptcy filing can now mean hundreds of dollars in dry-cleaning bills, hotel rooms costing $700 a night, and hundreds of thousands of ...
• North Bergen recycling plant files for bankruptcy _{2013-04-22, 05:54 pm}
  A North Bergen recycling company that has pleaded guilty to illegal dumping and amassed fines of more than $700,000 over safety issues has filed for bankruptcy reorganization.
• Turnaround guru calls for cap on legal fees in Chapter 11 cases _{2013-04-22, 05:50 pm}
  ... theories, a turnaround guru told attendees at a Friday program. Speaking at a Maryland meeting of an American Bankruptcy Institute commission that is studying Chapter 11 reform and could potentially rewrite bankruptcy law, billionaire Wilbur Ross ...
• Elmira businessmen complete purchase of Greek Peak ski resort _{2013-04-22, 05:49 pm}
  The sale of Greek Peak to two Elmira businessmen has closed, clearing the way for the Cortland County ski resort to emerge from bankruptcy.