Chapter 11 is a chapter of Title 11, the United States Bankruptcy Code, which permits reorganization under the bankruptcy laws of the United States. Chapter 11 bankruptcy is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. In contrast, Chapter 7 governs the process of a liquidation bankruptcy, though liquidation can be done under Chapter 11 also; while Chapter 13 provides a reorganization process for the majority of private individuals.
An investment bank is a financial services company or corporate division that engages in advisory-based financial transactions on behalf of individuals, corporations, and governments. Traditionally associated with corporate finance, such a bank might assist in raising financial capital by underwriting or acting as the client's agent in the issuance of securities. An investment bank may also assist companies involved in mergers and acquisitions (M&A) and provide ancillary services such as market making, trading of derivatives and equity securities, and FICC services. Most investment banks maintain prime brokerage and asset management departments in conjunction with their investment research businesses. As an industry, it is broken up into the Bulge Bracket, Middle Market, and boutique market.
RadioShack, formerly RadioShack Corporation, is the trade name of an American retailer founded in 1921. Since 2017, General Wireless Operations, Inc. has leased the name from Kensington Capital Holdings and operates primarily as an e-commerce website, a network of approximately 425 independently owned authorized dealer stores, and as a supplier of parts for HobbyTown. All stores are located in the United States.
GE Capital is the financial services unit of the American multinational conglomerate General Electric. It provides commercial lending and leasing, as well as a range of financial services for commercial aviation, energy, and support for GE's industrial business units.
Ally Financial is a bank holding company organized in Delaware and headquartered in Detroit, Michigan. The company provides financial services including car finance, online banking via a direct bank, corporate lending, vehicle insurance, mortgages, credit cards, and an electronic trading platform to trade financial assets.
Boeing Capital is a subsidiary of The Boeing Company, providing asset-based leasing and lending services. Boeing Capital is made up of two divisions, Aircraft Financial Services and Space & Defense Financial Services. It operates as a support unit for Boeing's main businesses.
CIT Group Inc. (“CIT”) is a financial holding company ("FHC") and a bank holding company ("BHC") incorporated in Delaware and headquartered in New York City. CIT Bank, N.A., its retail banking subsidiary, is headquartered in Pasadena, California. The company's name is an abbreviation of an early corporate name, Commercial Investment Trust. CIT provides financing, leasing and advisory services principally to middle-market companies and small businesses in a wide variety of industries, primarily in North America. CIT also provides banking and related services to commercial and individual customers through its banking subsidiary, CIT Bank, N.A., which includes over 60 branches located in Southern California and an online bank.
Refco was a New York-based financial services company, primarily known as a broker of commodities and futures contracts. It was founded in 1969 by Raymond Earl Friedman as Ray E. Friedman and Co. Prior to its collapse in October, 2005, the firm had over $4 billion in approximately 200,000 customer accounts, and it was the largest broker on the Chicago Mercantile Exchange. The firm's balance sheet at the time of the collapse showed about $75 billion in assets and a roughly equal amount in liabilities. Though these filings have since been disowned by the company, they are probably roughly accurate in showing the firm's level of leverage.
Omar Sharif Amanat is an American entrepreneur, film producer, and investor in media, technology and hospitality companies. He was convicted in December 2017 of fraud for his involvement in a scheme that involved a number of companies, including KIT Digital and Enable Invest. Business Insider reported that he was expected to spend a minimum of 10 years in jail after "a striking fall from power".
New Century Financial Corporation was a real estate investment trust that originated mortgage loans in the United States through its operating subsidiaries, New Century Mortgage Corporation and Home123 Corporation.
SunEdison, Inc. is a renewable energy company headquartered in the U.S. In addition to developing, building, owning, and operating solar power plants and wind energy plants, it also manufactures high purity polysilicon, monocrystalline silicon ingots, silicon wafers, solar modules, solar energy systems, and solar module racking systems. Originally a silicon-wafer manufacturer established in 1959 as the Monsanto Electronic Materials Company, Monsanto sold the company in 1989.
The J.G. Wentworth Company is a diversified financial services company, focused on providing direct-to-consumer access to financing solutions through a variety of avenues, including mortgage lending and refinancing, structured settlement, annuities, lottery payment purchasing, home lending, prepaid cards, and access to providers of personal loans. The firm is currently traded publicly on the OTCQX.
The filing for Chapter 11 bankruptcy protection by financial services firm Lehman Brothers on September 15, 2008, remains the largest bankruptcy filing in U.S. history, with Lehman holding over US$600,000,000,000 in assets.
MF Global, formerly known as Man Financial, was a major global financial derivatives broker, or commodities brokerage firm that went bankrupt in 2011. MF Global provided exchange-traded derivatives, such as futures and options as well as over-the-counter products such as contracts for difference (CFDs), foreign exchange and spread betting. MF Global Inc., its broker-dealer subsidiary, was a primary dealer in United States Treasury securities. A series of perceived liquidity problems and large fines and penalties dogged MF Global starting in 2008, and led to its bankruptcy in 2011.
OneMain Financial is a large provider of personal installment loans in the United States. As of January 2017, the company has served over 10 million total customers and has a nationwide branch network with more than 1,700 branches across 44 states. OneMain is headquartered in Evansville, Indiana, and has more than 10,000 employees. OneMain is currently traded on the NYSE under the ticker symbol "OMF" and is led by CEO Doug Shulman.
TitleMax, Inc. is a privately owned title lending business with corporate offices in Dallas, Texas and Savannah, Georgia. The company has more than 1,100 stores in sixteen states. TitleMax serves individuals who generally have limited access to consumer credit from banks, thrift institutions, credit card lenders, and other traditional sources of consumer credit. TitleMax offers title loan and title pawn products which allows customers to meet their liquidity needs by borrowing against the value of their vehicles while retaining use of their vehicle during the term of the loan.
HNA Group Co., Ltd., is a Chinese conglomerate headquartered in Haikou, Hainan, China. Founded in 2000, it is involved in numerous industries including aviation, real estate, financial services, tourism, logistics, and more. It is a part owner of Grand China Air, and owns 25% of Hilton Worldwide. In July 2017, HNA Group ranked No. 170 in 2017 Fortune Global 500 list with a revenue of $53.335 billion. It is one of the most active investment companies in the world, acquiring numerous assets under its name.
Axos Financial is a bank holding company based in San Diego, California and is the parent of Axos Bank, a direct bank.
Hilco Global is an American financial services holding company. It operates over twenty businesses and specializes in valuation, advisory, monetization, and liquidation. Headquartered in Northbrook, Illinois, it has offices throughout the world and provides services to companies, their lenders and professional services advisers across a broad spectrum of business categories including retail, industrial and financial. Hilco delivers services focused on maximizing the value of under-performing and excess retail, consumer products and industrial inventory, real estate, intellectual property, including consumer brands, and accounts receivable. Hilco is also considered one of the largest distressed investment and advisory companies in the world.
Wins Finance Holdings is a Chinese financial services company engaged in providing loan guarantees, equipment leases, and direct loans to small and medium sized businesses mainly in Jinzhong, Shanxi.
