WorldSpace, Inc. (WRSPQ.PK) announced that the United States Bankruptcy Court in Delaware yesterday approved the sale of substantially all of the assets related to the satellite radio business of it and its U.S. subsidiaries, WorldSpace Systems Corporation and AfriSpace, Inc. to Yenura Pte. Ltd. (“Yenura”).
Yenura is purchasing the assets pursuant to an asset purchase [...]

Hawaiian Telcom Communications, Inc. announced today that on Monday, December 15, 2008 it will file a motion to approve a stipulation with the State of Hawaii transferring its Chapter 11 cases from the U.S. Bankruptcy Court for the District of Delaware in Wilmington to the U.S. Bankruptcy Court for the District of Hawaii in Honolulu. [...]

Customer Programs, Employee Programs and Post-Petition Payments to Suppliers Also Approved; Business Will Continue Without Interruption
Hawaiian Telcom Communications, Inc. today announced that it has been granted interim authority from the Bankruptcy Court to utilize its $75 million cash collateral to continue to fund the business in the ordinary course, without interruption.
The Company will [...]

Planned Investment does not Close; Premium Class New York-London Carrier Forced to Wind Down Operations
Eos Airlines, the premium class New York to London carrier, which has become known for its operational excellence and uncrowded Guest experience, announced today that it has filed a voluntary petition under Chapter 11 of the U.S. Bankruptcy Code. The [...]

The British Bankers Association (BBA) has announced today that section 2 of its new Banking Code now includes rules requiring banks to treat customers fairly and to better understand a consumers overall debt exposure, and have a timely view on how this is evolving.
Graham Lund, Deputy Managing Director at Callcredit, comments:
“Callcredit broadly welcomes these changes. [...]