Boeing Co has sued its Russian and Ukrainian partners in satellite launch service Sea Launch, saying they refused to pay it more than $350 million following the joint-venture's bankruptcy filing in 2009, Reuters reported. The lawsuit, filed in U.S. District Court in Los Angeles on Friday, targeted RSC Energia, a company partially owned by the Russian government, and two Ukrainian state-owned companies, PO Yuzhnoye Mashinostroitelny Zavod and KB Yuzhnoye.

Some global banks are using models that let them hold only one-eighth of the capital held by their competitors against the same assets, according to a new study that will boost claims that banks are manipulating the key measure of bank safety, the Financial Times reported. The study by the Basel Committee on Banking Supervision comes at a time when investors, regulators and some bankers have called into question the way banks calculate their risk-weighted assets (RWA), which in turn determine how much capital they have to hold.

It’s a world where an e-mail that takes just six minutes to write costs more than $100, and where just the act of compiling one month’s legal bill – not the bill itself – costs $40,000. Welcome to the high-stakes, high-priced universe of cross-border bankruptcy litigation, where what remains of Nortel Networks Corp. is being slowly drained away by lawyers and consultants, The Globe and Mail reported. Nortel’s bondholders, pensioners and other creditors have been engaged in an expensive fight over the $9-billion left over from the piecemeal sale of the company.

Talks to divide $9 billion raised from the sale of businesses of Nortel Networks, the telecoms equipment maker that went bankrupt in 2009, ended without agreement, and the mediator said on Thursday further discussions were no longer worthwhile, Reuters reported. The failure of nearly two weeks of talks in Toronto raises the prospect that disputes among various creditors and retirees around the world could lead to years of litigation over how to divide the cash.

A mediator overseeing creditor negotiations in Nortel Networks' bankruptcy said on Tuesday he is extending talks over how to distribute about $9 billion in cash at the fallen telecom, Reuters reported. Ontario Chief Justice Warren Winkler said in a statement the mediation, scheduled to end at noon on Tuesday, had been extended, but did not say for how long. A spokesman for the mediator declined to give detail on the length of the extension.

Video game company Atari SA said it filed for bankruptcy protection in Paris and New York on Monday after it failed to find a successor to main shareholder and sole lender BlueBay as it wrestles with tough market conditions, Reuters reported. The U.S. operations plan, in addition, to separate from their French parent to seek independent capital to grow in digital and mobile games, Atari Inc said in a statement. The U.S.

Nortel Networks was once the largest telecommunication equipment company in North America, but since it filed for bankruptcy in 2009 it has earned a new label: one of the world's most complicated legal proceedings, Reuters reported. Bondholders, suppliers, governments and former employees from around the globe hold $20 billion in claims based on different insolvency laws and are competing for Nortel's last remaining asset - $9 billion in cash.

PT Berlian Laju Tanker Tbk creditors, with a combined total of about $125.5 million in claims, filed an involuntary Chapter 11 petition against the Indonesian ship operator, Bloomberg reported. Gramercy Distressed Opportunity Fund II, Gramercy Distressed Opportunity Fund, and Gramercy Emerging Markets Fund, all located in Greenwich, Connecticut, filed today in U.S. Bankruptcy Court in Manhattan, according to court papers.

US and UK regulators will unveil the first cross-border plans to deal with failing global banks on Monday, outlining proposals to force shareholders and creditors on both sides of the Atlantic to take losses and to ensure sufficient capital exists in the banks’ headquarters to protect taxpayers. Writing in the Financial Times, Martin Gruenberg, chairman of the US Federal Deposit Insurance Corporation, and Paul Tucker, deputy governor of the Bank of England, say this represents the first concrete steps to end the “too big to fail” problem of large international banks.

China's largest maker of auto parts won a politically sensitive auction for A123 Systems Inc, a bankrupt maker of batteries for electric cars that was funded partly with U.S. government money, A123's investment banker said on Saturday, Reuters reported. Timothy Pohl of Lazard Freres said Wanxiang Group Corp's bid of about $260 million topped a joint bid from Johnson Controls Inc of Milwaukee and Japan's NEC Corp for the maker of lithium-ion batteries. Siemens AG of Germany had also qualified to bid, according to two people familiar with the auction, who asked not to be identified.