The Chapter 11 petition listed total liabilities of $9.97 billion against assets of $1.56 billion.
The New York grocery store chain will continue operating under a prepackaged Chapter 11 filing.
The bankruptcy petition listed assets of $20.7 billion and liabilities of $16.1 billion as of Sept. 30.
The company believes it has sufficient liquidity, including about $180 million of cash on hand as of March 31, to continue operations.
The firms now have until Oct. 1 to show they can survive a financial collapse without a taxpayer bailout.
The world’s largest private-sector coal company is seeking to recover from a "substantial debt burden amid a historically challenged industry."
Strategic missteps, including creating too large a store footprint and having no cohesive e-commerce strategy, contributed to PacSun's financial woes.
New Jersey's "posture toward Atlantic City reduces the likelihood that it would rescue other financially distressed cities," the rating agency warns.
A company in Chapter 11 must show it can pay "administrative claims" by creditors in order to qualify for DIP financing.
Distributions from Lehman Brothers' bankruptcy estate have benefited third-party creditors such as hedge funds that bought its debt at a steep…