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Latest News in Bankruptcy

  • February 21, 2017

    No Jail For Ex-Oil Co. CPA In $30M Bank Fraud Scheme

    A New York federal judge on Tuesday sentenced a fuel company employee who pled guilty to conspiring to commit a $30 million bank fraud to time served, backing off her stated intention to have him serve 90 days in a halfway house because he might meet bad people in there.

  • February 21, 2017

    Bankrupt Big Apple Circus Gets A Safety Net After Sale OK'd

    The show might go on, now that a New York bankruptcy court has signed off on defunct nonprofit Big Apple Circus Ltd.’s $1.3 million sale to a Florida-based investment firm that plans to continue Big Apple’s iconic circus shows.

  • February 21, 2017

    International Shipholding Makes Deal To Advance Ch. 11 Plan

    International Shipholding Corp. reached a resolution Tuesday to move forward with its Chapter 11 reorganization plan to restructure more than $200 million in debt after settling with a secured lender whose objection stretched a confirmation hearing out for three days.

  • February 21, 2017

    EveryWare Beats Shareholder Suit At 6th Circ.

    The Sixth Circuit on Tuesday affirmed an Ohio judge’s decision dismissing a proposed shareholder suit over an alleged “pump-and-dump” scheme supposedly run by a group of private equity funds and executives of bankrupt EveryWare Global, agreeing the investors couldn’t show the executives had acted intentionally.

  • February 21, 2017

    ATopTech Ch. 11 Stalking Horse Protections Shot Down

    Bankrupt ATopTech Inc.’s $1 million protection plan for a prospective buyer’s $8 million stalking horse bid was nixed in Delaware federal court on Tuesday, with a judge terming the company's 12.5 percent fee too high for the “low-ball” offer.

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