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  • www.inrich.com
    Chesapeake gets time to restructure (Richmond Times-Dispatch)
    Richmond-based packaging company Chesapeake Corp. has received more time from its creditors to get its finances in order. The company said yesterday that it reached a forbearance agreement with its lenders under its $250 million senior secured-credit facility. An agreement enables a company to postpone loan payments while it works on a restructuring plan.
  • money.cnn.com
    GMAC Seeks Bank-Holding Status, Plans Capital Raising - CNN Money
    GMAC Financial Services confirmed Thursday that it is seeking to convert to bank-holding company status, and may raise and maintain "significant amounts of additional capital" via a private offering to meet the related regulatory requirements. Such a ...
  • www.orlandosentinel.com
    Resort builder Land Resource files for Chapter 11 (Orlando Sentinel)
    The credit squeeze and slumping real-estate market claimed another local corporate victim this week, as an Orlando-based resort-development company filed for Chapter 11 bankruptcy protection and reorganization.

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