Bankruptcy is the only solution for Russia's second largest airline Transaero after state-controlled Aeroflot backed out of purchasing the debt-laden carrier.
The rapper known for the album and movie "Get Rich or Die Tryin'," filed for bankruptcy protection as he faced a hefty payout in a lawsuit related to a sex tape.
Bulgarian strongman Boyko Borisov said he would try to form a government and avoid national "bankruptcy" after his right-wing party came first in elections.
According to him, there is no place for those willing to live at the state’s expense. If someone fails to pay off his or her debts, foreclosure procedures should be applied.
Detroit on Thursday became the largest city in US history to file for bankruptcy protection after decades of decline and mismanagement rendered the home of the nation's auto industry insolvent.
China's Suntech has made a painful journey from being the world's largest solar panel producer to flirting with bankruptcy in just a year, highlighting the woes of the industry it shaped.
Cypriot President Nicos Anastasiades will on Monday attempt to persuade lawmakers to back an EU bailout deal that slaps a levy on bank savings, amid fears of a run on accounts if he fails.