One of the best-known US snack food brands may survive as its bankrupt owner reveals it is in talks with 110 potential buyers.
See the rest here: Firms bidding for Twinkies brands
Category : Business, World News
Category : World News
Its patent auction in limbo due to disappointing bids, bankrupt Eastman Kodak (EKDKQ.PK) is considering the sale of its document imaging (scanners + related software) and personalized imaging (photo kiosks, photo paper, still-camera film) businesses. Kodak, which wants to focus on enterprise solutions, has already announced plans to shut down camera production. 
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The 220 hectare (550 acre) course was owned by Sean Quinn junior, who paid £186m for the course in 2005
The Belfry, the Warwickshire golf course and resort that was formerly part of the business empire of one of Ireland’s richest families, has been sold to a US private equity firm for an undisclosed sum.
The 220 hectare (550 acre) course was owned by Sean Quinn junior, who paid £186m for the course in 2005. He is the son of the bankrupt former billionaire, Sean Quinn.
KSL Capital Partners of Denver declined to say how much it paid for the Belfry, which has hosted the Ryder Cup four times. Ownership had reverted to banks that backed Quinn and were thought to be owed about £100m. The vendor was “an affiliate of the Quinn Group”, KSL said.
The Quinn family’s wealth stemmed from cement and insurance but they came unstuck during the credit crunch when risky bets on the share price of Anglo Irish Bank (AIB) turned sour. It is claimed they owe the now-nationalised AIB €2bn (£1.58bn) and are being pursued by its resolution committee through the courts.
Last year Sean Quinn snr declared himself bankrupt in a Belfast court, making him the biggest bankrupt in UK history.
Category : Business
An arrest warrant has been issued for Peter Darragh Quinn, a nephew of the bankrupt former billionaire Sean Quinn.
See the article here: Warrant issued for Quinn nephew
Scores of commodity investors were burned last fall when the brokerage firm MF Global went bankrupt.
The rest is here: Double whammy: He invested in PFG and MF Global
NEW YORK (TheStreet) — After struggling to sell a patent portfolio earlier in the year, InterDigital shares are surging after it announced a $375 million sale of 1,700 patents and patent applications to chip giant Intel .
While investors are likely to see the partial sale of InterDigital’s patent portfolio as a positive, the company’s still battered shares signal that a current slate of intellectual property deals face challenges after tech giants spent much of 2011 cutting billions in intellectual property deals.
As patent sales fall in size, the financial turnarounds of many large tech companies like InterDigital, Nokia , Research In Motion and bankrupt camera pioneer Kodak, in part, hinge on a continued market for patents, amid a Silicon Valley intellectual property grab. However, InterDigital’s Monday deal shows that the value of some IP portfolios may not be as high as initially expected. …
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Read more from the original source: Intel’s InterDigital Deal Raises Patent Value Questions
Category : World News
The former head of bankrupt US broker MF Global, Jon Corzine, could face legal action over the firm’s collapse, the liquidating trustee says.
View original post here: MF Global boss ‘could be sued’
Category : World News
Carlyle has selected BofA Merrill Lynch to advise it on a possible sale of Metaldyne, the bankrupt auto parts supplier it bought almost three years ago after collapsing under high debt and a severe slump in vehicle production volumes in North America. The sale could fetch as much as $1B. 1 comment!
Category : World News
Bankrupt Eastman Kodak (EKDKQ.PK) agrees to sell its online photo services to Shutterfly (SFLY) for $23.8M. Accounts of Kodak Gallery’s 75M users in the U.S. and Canada would be transferred to SFLY under the agreement, which is subject to competing bids at an auction. SFLY +17.6% AH. Post your comment!
Category : World News
Employer v independent contractor: What you don’t know may bankrupt your company.
See the article here: Must Read for All Employers