American LaFrance LLC’s creditors have voted in support of the company’s reorganization plan, setting the stage for the bankrupt fire truck manufacturer to emerge from Chapter 11.
Mesa Air Group Inc. and Hawaiian Airlines may finally put their trade secrets battle behind them with Mesa agreeing to pay $52.5 million and drop its appeal of the $80 million judgment initially awarded in the case.
The U.S. trustee overseeing the Chapter 11 case of newly reorganized Dana Corp. has objected to a $2.5 million fee request by the lawyers and financial advisers of one of the auto parts maker's investor suitors, Appaloosa Management LP.
Participants in HomeBanc Mortgage Corp.'s deferred compensation plan objected Tuesday to the bankrupt mortgage company's motion to transfer the assets of the compensation plan from a trust to the estates of HomeBanc and its subsidiaries.
A former loan officer at shuttered subprime mortgage lender New Century Financial Corp. has been sentenced to three years in prison and ordered to pay roughly $800,000 to the government and victims of a kickback scheme he operated for over four years, the U.S. Department of Justice announced Tuesday.
Fedders Corp. is seeking bankruptcy court permission to sell off its indoor air quality businesses for $25 million, a transaction that could push the gross proceeds from its asset sales to $67 million and mark the last major asset sale that the debtors need to undertake.
The U.S. Attorney's Office for the Eastern District of New York has moved to collect $1 million that a unit of bankrupt jewelry retailer Friedman's Inc. has not paid as part of a nonprosecution agreement for alleged securities fraud.
Days after its unsecured creditors committee raised a host of concerns about Ziff Davis Media Inc.'s reorganization plan and disclosure statement, the magazine publisher has resolved the issues with an amended plan.
The unsecured creditors of Ziff Davis Media have attacked the media company's disclosure statement and proposed reorganization plan as “fatally flawed” and “patently unfair” and asked the court to order the company to amend them.
A judge has given Bank of America NA, the administrative agent for American Home Mortgage Holdings Inc.'s lenders, more time to appeal a recent ruling that forbade it to sell $584 million in loans owned by the bankrupt mortgage lender.
Home decor company Home Interiors & Gifts Inc. has sought Chapter 11 protection in Dallas to streamline the company's operations and restructure its debt, a move made necessary by dwindling sales and ineffective cost-cutting measures.
A district judge has certified a class action brought against defunct health care finance company DVI Inc. and its chief auditor Deloitte & Touche LLP that alleges investors were victims of securities fraud at the hands of DVI officers and directors.
The tanking real estate market claimed another victim Friday as Empire Land LLC, a major large-scale commercial and residential developer in California and Arizona, filed for Chapter 11 bankruptcy protection.
Plastech Engineered Products Inc. is asking a federal bankruptcy judge to extend its exclusivity period for filing a reorganization plan by four months in order to give the bankrupt auto supplier more time to analyze its financial circumstances.
Noteholders who helped finance Dana Corp.'s exit from Chapter 11 earlier this year have asked a bankruptcy court to approve a request by its lawyers for almost $3.6 million in legal fees.
Aloha Airlines Inc. has shut down its cargo division and converted its Chapter 11 reorganization to a Chapter 7 liquidation after two suitors interested in purchasing the cargo side of Aloha's business pulled out and GMAC Commercial Finance wouldn't provide further financing.
Creditors of bankrupt diamond wholesaler M. Fabrikant & Sons Inc. rebuffed objections to the company's latest proposed Chapter 11 liquidation plan on Monday, saying that the plan does not need to leave room for the lenders to recover fees and expenses in an adversary dispute with the creditors.
A judge approved bidding procedures last Thursday for bankrupt automotive glass and repair service company Diamond Glass Inc. to sell substantially all of its assets at an auction to be held on June 5.
Bankrupt Delphi Corp. hopes to secure and win approval of $4.1 billion in debtor-in-possession financing that would last until the company emerges from Chapter 11 protection or until the end of 2008.
The New York Racing Association Inc.’s reorganization plan has been confirmed, putting the bankrupt racing franchise one step closer to emergence from Chapter 11.