In a decision that could have far-reaching implications for the bankruptcy world, a New Jersey judge has ruled that Congoleum’s insurers are not required to fund the global asbestos settlement at the heart of the flooring manufacturer’s bankruptcy plan.
A bankruptcy judge has signed off on a deal between Northwest Airlines Corp and its flight attendants’ union, potentially settling years of heated to and fro.
Goodyear Tire & Rubber Co. strongly rebuked the response of Dana Corp. in regard to the claims the tire maker has filed in the bankruptcy case, saying that Goodyear provided sufficient evidence that it never received the bar date notice.
Unsecured creditors of Portrait Corp. of America Inc. have thrown their support behind the bankrupt photography company’s bid to sell off its assets to Consumer Programs Inc. for $100 million, saying it is a “significant business opportunity” that is in the best interests of the debtors.
Bankrupt energy company Calpine Corp. has asked for court permission to take over the lease for a New York power facility, arguing that the profitable plant will boost the company’s revenues.
The professional fees in Tower Records’ ongoing bankruptcy continue to be a bone of contention to creditors, as the official committee of unsecured creditors objected to O’Melveny & Myers LLP’s fee application Monday.
The court overseeing M. Fabrikant & Sons' Chapter 11 case has granted the wholesale jewelry maker's request for more time to file its reorganization plan.
A federal bankruptcy judge has given the green light to Granite Broadcasting Corp.’s reorganization plan, paving the way for the bankrupt media company to exit Chapter 11 under the control of hedge fund Silver Point Capital.
The Delaware Supreme Court on Friday ruled that creditors of insolvent companies or companies in the “zone of insolvency” could not file direct claims against the companies’ directors.
Collins & Aikman Corp. may encounter trouble selling off its carpet and acoustics business after the company’s creditors filed five different objections against the move on Friday.
Sticking a price tag on a life sciences or biotechnology company’s intellectual property can be a tall order, but the challenge becomes even greater when that company files for bankruptcy protection.
Bankrupt Sea Containers Ltd. has asked a judge for more time to file its reorganization plan, saying that the time isn't right to file a plan because some matters still need to be resolved.
A bankruptcy judge on Thursday gave permission for Global Power Equipment Group Inc. to adopt an incentive plan for key employees from Deltak LLC, a subsidiary the company has blamed for its decline into bankruptcy.
Tower Records has asked a court for protection against a creditor’s request for documents on the company’s financial status, saying the discovery sought was an underhanded attempt to get a “head start” in a separate lawsuit.
Bankrupt subprime lender New Century Financial Corp. on Thursday asked the court to approve Howrey LLP as special outside counsel to the company’s internal investigation committee, as the committee looks into an allegedly questionable sale of New Century stock.
Radnor Holdings Corp. has won a 90-day extension of its exclusive right to file a Chapter 11 reorganization plan, preventing other parties from submitting rival plans as the company moves toward liquidation.
A federal bankruptcy judge has given the green light to Northwest Airlines Corp.’s amended reorganization plan in a move that will allow the carrier to emerge from bankruptcy on May 31 following a 20-month stay in Chapter 11.
The official committee of unsecured creditors of All American Semiconductor Inc. has asked for a trustee to be appointed or for the case to be converted to Chapter 7, alleging current management is acting for the benefit of the company's lenders.
The lead plaintiff in a securities fraud class action lawsuit against Dana Corp. has objected to the bankrupt auto part company's' proposal for handling dispute resolution.
After multiple extensions, Werner Co. has asked the bankruptcy court for even more time to retain control over its Chapter 11 case, arguing that the company has been too focused on selling off its assets to put together a feasible reorganization plan.