bankruptcy court

The NHL Phoenix Coyotes are in bankruptcy court. A Canadian billionaire wanted to buy the hockey team and return it to Canada.

But the judge rejected that bid — ruling that the league may decide who it wants to own the team and where it will play.

The case was a major test for Glendale, Ariz., which has built itself into a major league sports venue by luring teams from other places.

General Motors says it's confident it can steer a course through bankruptcy court, and emerge as a leaner, more competitive automaker.

The company filed for bankruptcy protection Monday. The federal government is helping GM with another $30 billion in aid.

That will make the government the company's majority shareholder.