BankruptcyRSS

  • March 7, 2007

    Northwest Judge To Rule On Hedge Fund Disclosure

    The judge for Northwest Airlines Corp.’s Chapter 11 case said Wednesday he plans to make a final decision by the end of the week on whether a group of hedge funds must disclose trading data that they claim should be kept private.

  • March 7, 2007

    Trustee Wants Pillsbury Off Bankruptcy Case

    An alleged $75 million conflict of interest has prompted calls for the ousting of law firm Pillsbury Winthrop Shaw Pittman from a long-running bankruptcy case.

  • March 7, 2007

    Judge Rejects Adelphia's $32M Settlement

    A New York bankruptcy judge has denied approval of Adelphia Communications Corp.’s $32.5 million settlement with insurers, saying it would interfere with related litigation pending in another court.

  • March 7, 2007

    Northwest Shareholders Demand Examiner

    True to their word, a group of Northwest Airlines Corp. shareholders has demanded that the bankruptcy court appoint an examiner to determine whether the airline is contemplating a merger behind its back.

  • March 7, 2007

    Motorola Wins Appeal To Reopen Iridium Settlement

    A bankruptcy court will reexamine a settlement between lenders and creditors of Iridium Operating LLC that was used to fund a lawsuit against former Iridium parent Motorola Inc.

  • March 6, 2007

    Calpine Allowed To Seek Post-Petition Financing

    A judge on Monday granted energy provider Calpine Corp.’s request to obtain a $5 billion replacement of its debtor-in-possession loan to facilitate its exit-funding refinancing and debt repayment.

  • March 6, 2007

    Delta Sues LAX, City Over Airport Terminal Lease

    Delta Air Lines Inc. has filed a lawsuit over its lease with Los Angeles International Airport, seeking a declaratory judgment and an injunction to stop the airport and the City of Los Angeles from terminating the agreement.

  • March 6, 2007

    Allied Files Joint Plan, Seeks Removal Extension

    Allied Holdings Inc. has filed a joint plan of reorganization and disclosure statement, a development the bankrupt auto carrier said could affect the handling of numerous civil lawsuits pending against it in the U.S. and Canada.

  • March 6, 2007

    Amtrol Files Reorganization Plan

    Amtrol Holdings Inc. has filed a Chapter 11 plan that will provide for a debt-for-equity swap with holders of its $97.8 million in senior subordinated notes, and allow pre-petition and post-petition lenders and unsecured creditors to be repaid in full.

  • March 6, 2007

    Lucent Must Turn Over Material In Adelphia Spat

    A bankruptcy judge has handed Adelphia Communications Corp. a partial victory in its battle with Lucent Technologies Inc., ruling the telecommunications company is not protected by attorney-client privilege from having to turn over certain documents related to its $44 million claim.

  • March 5, 2007

    Granite Files Amended Reorganization Plan

    Bankrupt media company Granite Broadcasting Corp. has filed its first amended joint plan of reorganization and its related disclosure statement, which provide a valuation for the company of more than $500 million.

  • March 5, 2007

    High Court Rejects Ex-WorldCom CEO's Appeal

    The U.S. Supreme Court refused Monday to hear an appeal by former WorldCom Inc. chief executive officer Bernard J. Ebbers of his 25-year sentence for his role in the securities fraud that brought the company down.

  • March 5, 2007

    FLYi Settles With Three Claimants

    Just days after reaching settlement agreements with eight parties in its bankruptcy proceedings, FLYi Inc. filed motions Friday requesting court approval of three more settlements.

  • March 5, 2007

    Northwest Fires Back At Union

    Northwest Airlines Corp. has fired back at its flight attendants union, asking the court to reject a motion by the union seeking to overturn pay and benefit cuts Northwest imposed after the bankrupt airline got the green light to void its collective bargaining agreements.

  • March 5, 2007

    Jordan's Claim Against WorldCom Goes Into Overtime

    A judge overseeing the bankruptcy proceedings of WorldCom Inc. has agreed that former spokesman Michael Jordan may be owed the balance of his 10-year endorsement deal, allowing the basketball superstar to proceed with his $8 million claim.

  • March 5, 2007

    Dana Hits Back At Retirees Moves to Keep Benefits

    Bankrupt auto parts maker Dana Corp. claims moves by a group of retirees to block a motion to terminate non-pension benefits threaten to derail the company’s bid to emerge from Chapter 11.

  • March 5, 2007

    Yukos Execs Sentenced In $13B Embezzlement Case

    Jail sentences have been handed down to two former Yukos executives who were convicted of embezzling $13 billion from the bankrupt oil company.

  • March 2, 2007

    Group Supports Dana Bid To Scrap Retiree Benefits

    A group of Dana Corp. bondholders has thrown its support behind a motion by the bankrupt auto parts maker to end the non-pension benefits supplied to non-union retirees.

  • March 2, 2007

    Attempt To Chase $1.4M Claim From Calpine Denied

    A judge on Friday denied a motion in Calpine Corp.’s bankruptcy case filed by a financial consulting firm that asked for relief so it could go after a $1.44 million claim.

  • March 2, 2007

    Creditor Groups Oppose Werner Breakup Fee

    A group of second-lien lenders that are leading the hunt to buy Werner Co. has asked a bankruptcy court to reject the ladder maker's request to provide a breakup fee in connection with the auction, calling the move unnecessary.