The bankruptcy judge overseeing the Chapter 11 case of New Century TRS Holding Corp. has approved an agreement that will allow the payment of more than $90 million in claims to Bank of America NA.
Flooring company Congoleum Corp. has appealed a bankruptcy court's rejection of its Chapter 11 reorganization plan, arguing that, contrary to the judge's assessment, the plan is in full compliance with the law.
Samuel Israel III surrendered to Southwick, Mass., authorities Wednesday morning, a few weeks after faking his suicide in an attempt to avoid serving a 20-year sentence for spearheading a $450 million fraud at the bankrupt Bayou Group LLC hedge fund.
A district court upheld a bankruptcy court's confirmation of ACandS Inc.'s reorganization plan on Friday. The approval was necessary due to the plan's extensive involvement with asbestos-related claims.
Though Asarco's Chapter 11 case looked to be nearing an end, the bankruptcy judge overseeing the proceedings has allowed Grupo Mexico to pitch a reorganization plan for the beleaguered mining company.
Storied homebuilder Levitt & Sons LLC and its unsecured creditors have filed a liquidation plan detailing a comprehensive settlement with Levitt's parent company that will net the debtors $12.5 million.
Bankrupt retailer Goody's Family Clothing Inc. has received a $175 million debtor-in-possession credit facility from General Electric Commercial Finance Corporate Lending.
One week after its prearranged Chapter 11 filing, JHT Holdings Inc. has revealed a reorganization plan under which the truck transporter's lenders will receive over two-thirds of the reorganized company's stock while the general unsecured creditors will get nothing.
The judge overseeing The Wornick Co.'s Chapter 11 case confirmed the military meal supplier's reorganization plan Friday, acknowledging its success with the significant majority of voting creditors and overruling a minority of noteholders who claim it is unfair.
A federal bankruptcy judge has refused to give in to mounting pressure to either dismiss or convert the Chapter 11 case of Congoleum Corp., ruling that the flooring manufacturer is right where it belongs for now.
Fresh off winning approval for Pacific Lumber's reorganization plan, Marathon and Mendocino Redwood Co. are fighting back against an effort by the Bank of New York to collect a $200 million superpriority claim that the duo says is a “last-ditch” attempt to derail confirmation of the proposal.
A discovery dispute between Empire Land LLC and the bankrupt California land developer's unsecured creditors will continue after a judge ordered the two sides to work out their disagreements by mid-July instead of ruling on the matter outright.
An 11-year veteran of Kirkland & Ellis LLP has moved his practice to Jones Day, bringing to the firm experience with a wide variety of litigation.
Facing a bill by its financial backers for $100 million in interest payments, W.R. Grace and Co. has asked a judge for permission to borrow against its employee life insurance policies to aid its exit from bankruptcy.
A judge has approved a request for bankrupt Aloha Airline to sell its potential recovery in an antitrust lawsuit against Mesa Air Group Inc. to Yucaipa Corporate Initiative Fund I for more than $10 million.
Dykema has tapped into Schwartz Cooper Chartered's ranks, snagging 53 attorneys from the soon-to-be-shuttered Chicago firm to join its own Chicago offices.
Northwest Airlines Inc. has asked a bankruptcy court to approve a deal granting the reorganized airline's former chief financial officer more than $1 million and other perks to settle his management compensation and other claims against the estate.
Recently reorganized power company Calpine Corp. is fighting efforts by a high-level employee to get his hands on an $870,000 end-of-year bonus, saying the company is well within its rights to deny such perks.
Over the objections of the U.S. trustee, the bankruptcy judge in charge of Sharper Image Corp.'s Chapter 11 case has signed off on the home gadget retailer's $1.13 million employee incentive plan.
Bankrupt casino operator Tropicana Entertainment LLC is fighting a move by a group of noteholders to have a trustee appointed to the Chapter 11 case, saying it is unnecessary and that doing so would be a step backward.