Bankruptcy Law360 provides breaking news and analysis on bankruptcy law. Coverage includes corporate bankruptcies and out-of-court restructurings, as well as corporate distress and imminent bankruptcy and policy developments that affect bankruptcy law.
A General Motors trust and hundreds of lenders from which it seeks to recover transfers related to a $1.5 billion term loan commenced a New York bankruptcy court trial Monday to determine the nature and value of the lenders' security interests in assets at a number of the carmaker's U.S. facilities.
A Delaware bankruptcy judge on Monday approved RadioShack’s plan to pay up to $3.4 million in bonuses to employees, including top-level executives, after the struggling retailer agreed to changes in the compensation plan spurred by unsecured creditors and the U.S. trustee’s office.
Fast casual restaurant chain Cosi Inc. on Monday, amid a flurry of case filings, offered a Massachusetts bankruptcy court a proposed order for its Chapter 11 reorganization, while Cosi’s successful stalking horse bidder sought to nix claims brought by a former executive, saying they were filed too late.
Bankrupt microchip maker ATopTech Inc. on Friday asked a Delaware bankruptcy court to approve a $6 million debt facility provided by the Hong Kong businessman whose $9 million stalking horse offer for the company’s assets was approved last week.
Gawker Media LLC on Monday struck back against objections to its request for an investigation into whether its creditors are being funded by billionaire Peter Thiel, who funded the Hulk Hogan privacy lawsuit that brought about its demise, telling a New York bankruptcy judge the examination is entirely proper.