According to BankruptcyData, a total of 82 publicly traded companies filed for bankruptcy protection under Chapter 7 and Chapter 11, listing $104.2 billion in combined pre-petition assets. This figure compares to the year-end 2010 filing total of 106 bankruptcies and $89.1 billion in assets. read more

DEC 30, 2011 - 8:25 am

According to a report posted by Mainichi Daily News, scandal-mired Olympus is planning to increase the proportion of outside directors to half its board in a bid to reinforce oversight of its management. read more

DEC 30, 2011 - 8:20 am

The law firms of Levi & Korsinsky and Bull & Lifshitz announced separately that each is launching an investigation of the sale of RSC Holdings to United Rentals. read more

DEC 27, 2011 - 8:25 am

In an opinion issued on Dec. 22, U.S. Bankruptcy Judge Allan L. Gropper has ruled against CIT in a tax dispute with its former parent company Tyco International. read more

DEC 23, 2011 - 8:47 am

Chicago area businessman and political fundraiser Tony Rezko was spared from serving more time in prison after pleading guilty of defrauding GE Capital out of $10 million in loans to finance the sale of a pizza restaurants in Chicago and Milwaukee. read more

DEC 22, 2011 - 4:33 pm

A federal grand jury indicted Equipment Finance Inc. loan fraud defendants Misty L. Kroesen, her husband Curtis A. Kroesen and Harold W. Young on multiple new counts, the Lancaster Intelligencer Journal reported. read more

DEC 19, 2011 - 8:35 am

The Pittsburgh Post-Gazette reported that a federal jury found the wife and son of former Le-Nature's CEO Gregory J. Podlucky guilty of money laundering in connection with the company's fraudulent scheme using fake books to raise hundreds of millions of dollars from lenders. read more

NOV 30, 2011 - 8:35 am

Bloomberg reported that Allied Health Care Services founder Charles K. Schwartz was sentenced to 16 years in prison for defrauding more than 50 financial institutions in a $135 million medical equipment leasing scheme. read more

NOV 23, 2011 - 8:30 am

Clarence Allen Rice, owner of C&J Leasing, was sentenced to 70 months in prison for wire fraud in connection with a complex $8 million scheme against Frontier Leasing, according to documents from the U.S. District Court in the Southern District of Iowa. read more

NOV 17, 2011 - 8:35 am

The sentencing of five participants in the Equipment Finance loan fraud has been delayed until May 2012 at the request of a newly assigned assistant U.S. attorney in the case, according to recently filed court documents. read more

NOV 9, 2011 - 8:35 am

The Pittsburgh Post-Gazette reported that former Le-Nature's CEO Gregory J. Podlucky has appealed his 20-year sentence for mail fraud, tax evasion and money laundering, and his attorney petitioned the court to withdraw from the case. read more

NOV 7, 2011 - 8:40 am

A U.S. District Judge sentenced Thomas Hebble, former EVP of Orion Bank; Angel Guerzon, former SVP of Orion Bank; and Francesco Mileto, a former Orion Bank borrower, to federal prison for misleading regulators that the bank was in a better capital position than it actually was. read more

OCT 28, 2011 - 8:30 am

The Pittsburgh Post-Gazette, citing an order from the U.S. District Judge, reported that Gregory J. Podlucky, former CEO of Le-Nature's, owes as much as $661 million in restitution to lenders and investors hurt by the 2006 collapse of the beverage maker. read more

OCT 25, 2011 - 8:48 am

The Pittsburgh Post-Gazette reported that former Le-Nature's CEO Gregory J. Podlucky was sentenced to 20 years in prison for financial fraud that a judge said bilked investors and lenders out of more than $6.8 million. read more

OCT 21, 2011 - 8:57 am

The Seattle Times reported that a verdict by a jury, which requires First Sound Bank to pay $2.3 million to the former owners of Puget Sound Leasing, is causing additional stress on the bank, which is currently under scrutiny by the FDIC. read more

OCT 14, 2011 - 9:40 am