As Delta Mills Inc. tries to rally support for its amended plan of liquidation, GMAC Commerical Finance LLC continues to throw up its hands over the terms.
A software company has denied claims that a fraud lawsuit aimed at former executives and attorneys for New Century Holdings Inc. was a thinly veiled attempt to violate the automatic stay shielding the bankrupt lender.
In a move expected to speed up Quality Home Loans' journey through Chapter 11, the bankrupt hard money lender will be acquired by entrepreneur and hedge fund manager Michael B. Klein.
In a move that auto parts supplier Dana Corp. says puts it one step closer to leaving Chapter 11, the company has submitted its blueprint for emerging from bankruptcy, which includes up to $750 million in new equity investment, renegotiated labor pacts and supply contracts.
A bankruptcy judge has approved a deal between bankrupt auto parts maker Collins & Aikman and the auto parts company led by billionaire investor Wilbur Ross, allowing Ross' International Automotive Components Group North America Inc. to acquire one of the company's plants in Mexico.
A judge has pushed back an important hearing in Congoleum Corp.'s bankruptcy proceedings, further delaying the flooring company in its efforts to exit from bankruptcy this year.
First Magnus Financial Corp. asked a bankruptcy court judge Friday to authorize a $15 million loan in order to execute a liquidation and wind-down plan, with the defunct mortage lender saying it hopes to provide creditors with up to $26 million in net recovery.
In a blow to Iridium's unsecured creditors, a federal bankruptcy judge has partially rejected the idea that Motorola is to blame for the satellite-based mobile phone unit's collapse, putting a damper on their quest to regain $3.4 billion from the technology giant.
Reorganized debtor Verizon Business Global LLC has attempting to quash an interlocutory appeal filed by the Internal Revenue Service in WorldCom Inc.’s Chapter 11 case.
A federal judge has blocked Bear Stearns & Co. Inc. from using Chapter 15 bankruptcy protection for two of its Cayman Island-registered hedge funds that imploded earlier this year after bad bets in the subprime mortgage market.
The U.S. Trustee overseeing the contentious Chapter 11 case of The Rowe Companies has objected to the debtor's disclosure statement, saying it is overly vague and doesn't provide creditors with sufficient information about the company's assets.
A Manhattan bankruptcy judge has blasted McDermott, Will & Emery over its “disastrous” work on the Saint Vincent Catholic Medical Centers' Chapter 11 case, choosing to punish the Chicago powerhouse by slashing the fees the firm requested by nearly a half million dollars.
In its Chapter 11 case, power-plant equipment manufacturer Global Power Equipment Group Inc. is trying to fend off more than $200 million in claims submitted by several energy companies.
A bankruptcy judge has reportedly denied a motion by First Magnus Financial Corp. to pay the outstanding wages of its 5,940 axed employees, saying the workers would have to take a number and wait their turn just like other creditors of the beleaguered mortgage lender.
A hearing on Calpine Corp.’s disclosure statement has been postponed by two weeks so that the power company can consider a proposal that would give current shareholders the rights to purchase stock in the reorganized company.
GMAC Commercial Finance LLC is up in arms over Delta Mills Inc.'s proposed restructuring plan and has asked the bankruptcy court to deny confirmation, arguing the plan violates the terms of deals struck between the lender and the company.
Kara Homes Inc. has amended its reorganization plan to consolidate an accounting affiliate of the bankrupt homebuilder in a move that a building material supplier suggested may be a way to avoid payment claims.
The bankruptcy judge for W.R. Grace & Co. on Wednesday criticized federal prosecutors for not alerting her to allegations that accounting firm L. Tersigni Consulting PC was illegally padding bills while advising asbestos claimants in large Chapter 11 cases.
AEP Energy Services Gas Holding Company's action against Bank of America NA over AEP's 2001 purchase of an energy company from Enron Corp. has been dismissed in its entirety, with a judge closing off the possibility of any further amendments to AEP's complaint.
One week after First Magnus Financial Corp. filed for bankruptcy, another Arizona-based private mortgage lender has veered into Chapter 11.