Caterpillar said that an internal investigation of a subsidiary of a recently acquired Chinese company has uncovered “misconduct” that will result in a Q4/12 non-cash charge of $580 million. read more

JAN 21, 2013 - 7:35 am

Lancaster Online reported that two defendants in the Equipment Finance Inc. fraud case were sentenced a year and a day in prison for their roles in the scam. read more

JAN 15, 2013 - 7:25 am

The SEC charged three former executives at Bank of the Commonwealth for understating millions of dollars in losses and masking the true health of the bank’s loan portfolio at the height of the financial crisis. read more

JAN 10, 2013 - 7:35 am

The SEC charged two auditors at KPMG for their roles in a failed audit of a NE-based bank that hid millions of dollars in loan losses from investors during the financial crisis. read more

JAN 10, 2013 - 7:25 am

The Justice Department announced that a former financial services broker was sentenced for his participation in involving investment contracts for the proceeds of municipal bonds. read more

JAN 4, 2013 - 7:35 am

Law360 reported that a Pennsylvania bankruptcy judge approved a $30 million settlement between bottling company Le-Nature's and CIT and Krones AG. read more

DEC 10, 2012 - 7:35 am

Hawker Beechcraft said the U.S. Bankruptcy Court for the Southern District of New York approved its Disclosure Statement filed in connection with the company's Joint Plan of Reorganization. read more

DEC 10, 2012 - 7:05 am

Total bankruptcy filings in the U.S. for November 2012 decreased 12% compared to the previous year, according to data provided by Epiq Systems. The 664 commercial Chapter 11 filings in November 2012 were a 10% increase over the 601 commercial Chapter 11 filings in November 2011. read more

DEC 7, 2012 - 7:05 am

Trade publication Law 360 reported that Compass Financial settled a $14 million fraud and breach of contract suit against CIT Group and Krones AG as part of litigation over a scam that pushed bottling company Le Nature’s into bankruptcy. read more

NOV 29, 2012 - 7:35 am

Hawker Beechcraft and the majority of its lenders have reached an agreement to amend the terms of the company’s $400 million DIP financing until the end of February, a Dow Jones Newswires article said. read more

NOV 28, 2012 - 7:05 am

Law firm David R. Chase announced its investigation of potential arbitration claims on behalf of investors in ICON Leasing Fund that purchased their investments through securities brokerage firms. read more

NOV 26, 2012 - 7:15 am

The Associated Press reported that the bankruptcy trustee recovering money for victims of Tom Petters' $3.65 billion Ponzi scheme filed a lawsuit accusing a bank, since acquired by BMO Harris, of aiding the fraud by ignoring "astronomical" deposits. read more

NOV 15, 2012 - 7:15 am

Total commercial bankruptcy filings for October 2012 were down 16% from the same period in 2011, according to the American Bankruptcy Institute and Epiq Systems. read more

NOV 13, 2012 - 6:55 am

U.S. Attorney David J. Hickton said that Krones has entered into a non-prosecution agreement for its role the Le-Nature's fraud. Krones will pay $15 million to the U.S. and $110 million to victims of the scheme. read more

NOV 9, 2012 - 7:30 am

The Wall Street Journal reported that J.P. Morgan Chase is close to a settlement with the SEC that would end one probe into how the company's Bear Stearns unit packaged and sold home loans to investors. read more

NOV 8, 2012 - 7:05 am