A judge has rejected Citigroup Inc.’s bid for an early decision in Parmalat SpA’s $2.2 billion case after the Italian dairy giant told a jury that the bank, as its underwriter, aided and abetted the fraud that eventually felled the company in 2003.
In an effort to better monitor credit rating agencies, the European Commission will propose a series of amendments to its Capital Markets Directive in October aimed at enhancing risk management and internal governance.
Bankrupt furniture retailer Wickes Furniture Co. Inc. has asked the bankruptcy court overseeing its case to approve a $1.25 million settlement with Deloitte Consulting LLP, putting to rest a lawsuit Wickes brought against the financial consulting firm before it entered into Chapter 11.
A bankruptcy judge will rule Monday on whether auto parts maker Delphi Corp. can sue hedge fund Appaloosa Management LP, Goldman Sachs Group and others that last month pulled out of a $2.55 billion investment deal with Delphi, derailing its emergence from Chapter 11.
About two months after it filed for Chapter 11 protection, bankrupt retailer Goody's Family Clothing Inc. has filed a reorganization plan and disclosure statement that it says would allow the company to continue operating and settle disputes with its lenders.
Shortly after a federal judge refused to drop charges of tax evasion and conspiracy against the founder of bankrupt cable company Adelphia Communications Corp. and his son, the U.S. government has hit John and Timothy Rigas with a new indictment, tacking on two counts of tax evasion for the year 2001.
Lake at Las Vegas Joint Venture LLC, the developer of a residential and vacation complex that filed for Chapter 11 protection last week, has gotten a judge's approval to use its cash collateral to maintain its golf courses.
JHT Holdings Inc. is continuing on its rapid path in and out of bankruptcy. The judge overseeing the truck transporter's case has approved a $35 million exit financing deal with three funds poised to become major stakeholders in the reorganized company.
Less than a month after filing for Chapter 11 bankruptcy protection, energy company SemGroup Energy Partners LP has been hit with a proposed class action claiming the company failed to disclose the risky trading strategy that eventually contributed to its downfall.
Christopher J. Marcus became a partner at Weil, Gotshal & Manges LLP in January, and on Aug. 1 he will join the restructuring group at Kirkland & Ellis LLP's New York office.
After selling off nearly all of its assets earlier this year, bankrupt diamond wholesaler L.I.D. Ltd. filed a liquidation plan on Wednesday.
A bankruptcy judge has approved settlement agreements over mortgage licenses between subprime lender Mortgage Lenders Network USA Inc. and banking authorities in five northeastern states.
Disputing GMAC Commercial Finance LLC's objection to its $250,000 fee request in Aloha Airlines Inc.'s bankruptcy case, Sonnenschein Nath & Rosenthal LLP has ripped into the air carrier's main lender, accusing it of unfairly engineering a liquidation that benefited only GMAC.
A new audit report released by the U.S. Department of Housing and Urban Development has revealed that home lender First Magnus Financial Corp. violated federal law by offering incentives to mortgage brokers.
Reed Smith LLP has created a derivatives and structured products group with approximately 40 lawyers in offices in the U.S. and abroad.
President Bush said on Wednesday that he would drop his threat to veto a housing bill that would temper the effects of the ongoing mortgage crisis and help borrowers finance their loans and stay in their homes.
Getzler Henrich & Associates LLC received over $5.1 million for its services over 18 months as bankrupt jewelry wholesaler M. Fabrikant & Sons Inc.'s crisis manager, the restructuring adviser's final cumulative fee application has revealed.
The Chapter 11 reorganization plan and disclosure statement that Wellman Inc. filed last month has come under fire from Bank of New York NA, the polyester manufacturer's first-lien lender, over its valuation of the collateral for the bank's $185 million claim.
Hancock Fabrics Inc. is on its way out of Chapter 11 protection now that a judge has approved the company's reorganization plan.
As it continues to labor toward reorganization, Asarco LLC has reached a settlement with timber company Wasser & Winters for damages Wasser paid for alleged contamination of the Hylebos Waterway.