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<title> SecondMarket</title>
<link>http://www.secondmarket.com</link>
<description>With 3,000 members managing over $1 trillion in investable assets, SecondMarket brings together buyers and sellers in the largest marketplace for illiquid assets. SecondMarket's members include global financial institutions, hedge funds, private equity firms, mutual funds, and other institutional and accredited investors.</description>
<language>en-us</language>
<pubDate>Thu, 09 Sep 2010 13:47:14 -0500</pubDate>
<lastBuildDate>Thu, 09 Sep 2010 13:47:14 -0500</lastBuildDate>
<copyright>Copyright 2010, SecondMarket</copyright>
<item>
<title><![CDATA[Pitcairn Property tossed out of bankruptcy court]]></title>
<link>http://www.secondmarket.com/articles/pitcairn-property-tossed-out-of-bankruptcy-court.html</link>
<pubDate>Thu, 09 Sep 2010 00:00:00 -0500</pubDate>
<description><![CDATA[
    The judge overseeing Pitcairn Property Holdings Inc&rsquo;s bankruptcy has thrown out the company&rsquo;s case after only a couple days in bankruptcy
    Pitcairn, which owns or manages over $800 million in real estate, had filed for bankruptcy to prevent its shareholders from seizing control of the company
    The company will now be subject to a lawsuit brought against it in Delaware state court that had been put on hold as a result of its bankruptcy filing
]]></description>
</item>
<item>
<title><![CDATA[Owner of troubled Pa. hotel files for bankruptcy]]></title>
<link>http://www.secondmarket.com/articles/owner-of-troubled-pa-hotel-files-for-bankruptcy.html</link>
<pubDate>Wed, 08 Sep 2010 00:00:00 -0500</pubDate>
<description><![CDATA[
    The former Pittsburgh Hilton Hotel, owned by Shubh Hotels Pittsburgh LLC, filed for bankruptcy protection on Monday
    The hotel faced two major setbacks last week as Hilton pulled its name from the complex and Black Rock Financial Management foreclosed on the property
    The company listed between $10 million and $50 million in assets and between $50 million and $100 million in liabilities
    &nbsp;
]]></description>
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<item>
<title><![CDATA[Tronox Shareholders File Bankruptcy Plan Valuing Company at $1.25 Billion]]></title>
<link>http://www.secondmarket.com/articles/tronox-shareholders-file-bankruptcy-plan-valuing-company-at-125-billion.html</link>
<pubDate>Tue, 07 Sep 2010 00:00:00 -0500</pubDate>
<description><![CDATA[
    Official Equity Committee filed rival plan
    The plan values the company at $1.2-1.3BB; differing from the company&rsquo;s plan which values the company at $1-1.1BB
    Unsecured creditors would receive 62.5 percent of the stock in the reorganized company; compared to about 17% under the company&rsquo;s plan
    The Equity Committee&rsquo;s plan will allow the equity holders to purchase up to 17% of the new company stock
    &nbsp;
]]></description>
</item>
<item>
<title><![CDATA[Colonial Bank Parent Wins Bankruptcy Fight With FDIC]]></title>
<link>http://www.secondmarket.com/articles/colonial-bank-parent-wins-bankruptcy-fight-with-fdic.html</link>
<pubDate>Fri, 03 Sep 2010 00:00:00 -0500</pubDate>
<description><![CDATA[
    Colonial BancGroup Inc. won a major ruling on Tuesday when the judge overseeing the company&rsquo;s bankruptcy proceedings ruled that the Federal Deposit Insurance Corp.&rsquo;s $900 million claim was invalid
    Judge Williams ruled that Colonial was not responsible for maintaining capital levels at is failed bank subsidiary, Colonial Bank
    The decision will likely be closely watched by other bankrupt bank holding companies who are facing similar claims by the FDIC
    &nbsp;
]]></description>
</item>
<item>
<title><![CDATA[Tronox amends reorganization plan]]></title>
<link>http://www.secondmarket.com/articles/tronox-amends-reorganization-plan.html</link>
<pubDate>Thu, 02 Sep 2010 00:00:00 -0500</pubDate>
<description><![CDATA[
    Tronox Inc has filed an amended reorganization plan after coming to terms with key creditors and could emerge from bankruptcy in the coming months
    The company now plans to fund an environmental liabilities trust with $270 million plus 88 percent of any recoveries from litigation against Anadarko Petroleum Corp
    Existing shareholders will receive warrants to buy up to 5 percent of the reorganized company&rsquo;s stock if the vote in favor of the plan
    &nbsp;
]]></description>
</item>
<item>
<title><![CDATA[Bankruptcy on horizon for Pennsylvania capital]]></title>
<link>http://www.secondmarket.com/articles/bankruptcy-on-horizon-for-pennsylvania-capital.html</link>
<pubDate>Thu, 02 Sep 2010 00:00:00 -0500</pubDate>
<description><![CDATA[
    The city of Harrisburg has said that in will not make an upcoming $3.3 million municipal bond payment due in two weeks
    City officials are split on the prospect of filing for bankruptcy, with the mayor and the city controller taking opposing views
    The city&rsquo;s bond insurance company is expected to cover the missed payment
]]></description>
</item>
<item>
<title><![CDATA[JAL to Submit Rehabilitation Plan Including 16,000 Job Cuts]]></title>
<link>http://www.secondmarket.com/articles/jal-to-submit-rehabilitation-plan-including-16000-job-cuts.html</link>
<pubDate>Wed, 01 Sep 2010 00:00:00 -0500</pubDate>
<description><![CDATA[
    JAL Submitted bankruptcy emergence plan
    The plan calls for its workforce to be cut by 1/3
    Approximately 100 planes will be sold and 50 routes will be cut


&nbsp;]]></description>
</item>
<item>
<title><![CDATA[Blockbuster Plans Bankruptcy Filing Next Month, Report Says]]></title>
<link>http://www.secondmarket.com/articles/blockbuster-plans-bankruptcy-filing-next-month-report-says.html</link>
<pubDate>Fri, 27 Aug 2010 00:00:00 -0500</pubDate>
<description><![CDATA[
    Blockbuster&rsquo;s CEO has reportedly informed movie studio executives that it plans to file for a prepackaged bankruptcy in mid-September
    The company has struggled recently due to stiff competition from its more nimble rivals, Netflix and Redbox
    A Chapter 11 filing will allow the company to restructure nearly $1 billion in debt and pull out of at least 500 store leases
    &nbsp;
]]></description>
</item>
<item>
<title><![CDATA[Alex Rodriguez objects to Rangers' bankruptcy plan]]></title>
<link>http://www.secondmarket.com/articles/alex-rodriguez-objects-to-rangers-bankruptcy-plan.html</link>
<pubDate>Thu, 29 Jul 2010 00:00:00 -0500</pubDate>
<description><![CDATA[
    Lawyers for Alex Rodriguez have objected to the Texas Rangers&rsquo; bankruptcy plan over concerns that a buyer of the team might not assume Rodriguez&rsquo;s contract
    A-Rod is still owed $24.9 million by the Rangers from a contract he signed with the team in 2001
    Other objections to the plan were filed by groups that include the Major League Baseball Players Association, the office of baseball Commissioner Bud Selig and the unsecured creditors committee
]]></description>
</item>
<item>
<title><![CDATA[Uno pizza chain out of bankruptcy]]></title>
<link>http://www.secondmarket.com/articles/uno-pizza-chain-out-of-bankruptcy.html</link>
<pubDate>Tue, 27 Jul 2010 00:00:00 -0500</pubDate>
<description><![CDATA[
    Uno Restaurant Holdings Corp. has emerged from bankruptcy after cutting its debt from $176 million to $40 million
    The company&rsquo;s new majority shareholder is Los Angeles based Twin haven Capital
    As part of Uno&rsquo;s restructuring the company has recently developed a new menu and introduced two new products to its packaged foods line
]]></description>
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