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"Abound Solar said that it will seek bankruptcy protection next week as it has not been able to come to terms with potential buyers over the last several months. About $68 million in US-backed loans will be at risk of not being repaid and 125 employees would lose their jobs."

"Stockton, California has filed for bankruptcy after its talks with bondholders and labor unions failed. As a result, Stockton will become the largest US city to seek bankruptcy protection from creditors. "

"Patriot Coal Corp has filed for bankruptcy protection as it was facing increasing pressures in recent months with demand for coal plunging to a 24-year low due to a shift to natural gas and milder winters, falling thermal coal prices, canceled customer contracts and rising costs for environmental liabilities. "

"California state lawmakers have approved what would be the nation's strongest legislation to help financially troubled borrowers stay in their homes. Gov. Jerry Brown is expected to sign the legislation this week or next. "

"The federal consumer watchdog agency has come up with several proposals designed to control abuses in order to restore trust in the industry. Several controversial mortgage fees are sought to be banned and new disclosure forms will be provided to help borrowers understand the terms of the home loans. "

"After sacking workers in Rhode Island and Maryland, 38 Studios had filed for bankruptcy protection on June 7 as it was late on a $1.1 million payment to Rhode Island in connection with a $75 million state loan guarantee. The sales of its debut game were not up to expectations and the company did not get any cash by selling it. "