Syncapse, the social media marketing management company that had hoped to provide enterprise-level solutions for companies such as Coca-Cola and Johnson & Johnson on Facebook, has filed for Chapter 15 bankruptcy protection in U.S. federal court, Business Insider reported. Syncapse was one of Facebook's "preferred marketing developers," a company that qualifies to serve ads into, and gather analytics from, the social network. The move suggests that the economics of social media marketing, absent being acquired by a bigger company, are more difficult than they may appear.

Seán Dunne’s adjudication as a bankrupt in Ireland marks the culmination in a five-month legal effort by one of his biggest lenders, Ulster Bank. The court’s ruling makes Dunne unique among the many former high-flying players of the boom-time property market – he is now bankrupt in two countries: Ireland, where he racked up debts of more than €700 million, and the United States, where he has lived for three years and is trying to start anew, the Irish Times reported.

Maxcom filed for pre-packaged Chapter 11 bankruptcy in a U.S. court, legal filings showed, as the Mexican telecoms firm pursues a recapitalization plan that would give full control to a investor group led by private equity firm Ventura Capital, Reuters reported. Small phone companies in Mexico have struggled to compete with billionaire businessman Carlos Slim's America Movil, which has about 70 percent of Mexican mobile connections and about 80 percent of the country's fixed lines.

Indebted Spanish media company Promotora de Informaciones SA has weighed filing for Chapter 11 bankruptcy protection in the U.S., according to several people familiar with the matter, the latest indication of the troubled financial state of Spain's largest media company, The Wall Street Journal reported. The possible move by Prisa, as the company is known, comes as it seeks to refinance about $3 billion of debt, the people said. The discussions of different restructuring options are still fluid and nothing has yet been decided, they added.

The National Asset Management Agency has taken a fresh legal challenge against property developer Sean Dunne in a bid to stop him walking away from debts of more than €700 million in the United States, the Irish Times reported. The State loans agency, which has a judgment debt of €185 million against Mr Dunne, filed a legal complaint within Mr Dunne’s US bankruptcy proceedings in a Connecticut court seeking to block his discharge from bankruptcy, which would prevent him embarking debt-free on a fresh financial start.

Argentina asked the U.S. Supreme Court to review a lower-court ruling against it in a case over the nation’s defaulted debt, Bloomberg reported. The South American nation claims a federal appeals court in New York was wrong when it ruled in October that investors in restructured Argentine debt can’t be paid unless holders of the nation’s defaulted bonds, led by billionaire Paul Singer’s Elliott Management Corp. and its NML Capital Ltd. unit, are also paid.

More than 1,000 creditors of the European operations of failed U.S. investment bank Lehman Brothers will share a 3.5 billion pound ($5.5 billion) payout next week, its administrators said on Thursday, Reuters reported. The payout means the recovery so far for creditors from one of the banking collapses at the heart of the 2008 financial crisis is 68.5 cents in the dollar. PricewaterhouseCoopers, joint administrators for Lehman Brothers International (Europe), said a dividend of 43.3 percent of what creditors were owed - the second so far - would be paid on June 28.

A U.S. judge Tuesday approved Arcapita Bank B.S.C.'s plan to gradually liquidate itself in a process that conforms with Islamic Shariah law, which generally prohibits borrowing money with interest, The Wall Street Journal reported. The Bahrain investment firm entered bankruptcy protection last year with a goal of restructuring itself but ended up with a plan to orderly liquidate its private-equity investments.

Seán Dunne faces the possibility of being declared bankrupt in Ireland as well as in the United States after a Connecticut court allowed Ulster Bank to continue its Irish bankruptcy action against him, the Irish Times reported. In a major setback for the Co Carlow developer, the US bankruptcy court in Connecticut, where he now lives, approved an application by Ulster Bank - one of his biggest creditors which is owed more than €300 million - to continue with Irish legal proceedings to have him adjudicated a bankrupt in Ireland.

Goldman Sachs Group Inc., which is already providing Arcapita Bank $350 million in bankruptcy exit financing, is now seeking to give the Bahrain investment firm a $175 million bankruptcy loan that would pay off existing lender Fortress Investment Group LLC, Nasdaq.com reported on a Dow Jones Business News story. In a Monday filing with U.S. Bankruptcy Court in Manhattan, Arcapita said the Goldman loan would pay off the $105 million still owed to Fortress and later convert into the $350 million exit loan that Goldman is already providing.