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German bankruptcies up 17 pct in September

BERLIN – (AP) The number of German businesses filing for bankruptcy was up more than 17 percent on the year in September, according to official data Tuesday suggesting that country is still suffering the effect of the economic crisis. The Federal Statistical Office said that courts Read the rest here: …

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German corporate bankruptcies up 12 pct in August

BERLIN – (AP) The number of German companies filing for bankruptcy protection was up 12.3 percent on the year in August, even as the economy slowly emerged from recession, official data showed Friday. Courts registered 2,619 bankruptcy filings in August, the Federal Statistical O View post: German corporate bankruptcies up …

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CIT told to submit capital plan to NY Fed (Reuters)

Reuters – Lender CIT Group Inc , which has been struggling to avoid bankruptcy, has 15 days to come up with a capital and liquidity management plan after an order from the Federal Reserve. Originally posted here: CIT told to submit capital plan to NY Fed …

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Obama’s plan to save GM: bankruptcy, $30 billion (AP)

AP – President Barack Obama pushed a humbled General Motors Corp. into bankruptcy on Monday and said the federal government will act as “reluctant shareholder” when it assumes a 60 percent ownership of the smaller carmaker that emerges.

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Humbled GM files for Chapter 11 bankruptcy (McClatchy Newspapers)

McClatchy Newspapers – WASHINGTON — General Motors entered bankruptcy Monday morning, filing for Chapter 11 protection from its creditors. The filing triggered a number of immediate actions that affect the automaker, all of which lead to the temporary nationalization of the American icon for the foreseeable future.

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