Bankruptcy

  • June 1, 2006

    Embattled Metabolife Nears Ephedra Settlements

    Metabolife International Inc., the defunct dietary supplement manufacturer, has reached agreements to settle the first round of hundreds of wrongful injury and death lawsuits over its ephedra-based products, according to bankruptcy court documents.

  • May 31, 2006

    Cable Channel Files Suit Opposing Adelphia Sale

    A small cable television channel has taken on broadcasting powerhouses Time Warner Inc. and Comcast Corp., hoping to block their impending acquisition of now-bankrupt Adelphia Communications Corp.

  • May 31, 2006

    Quigley Claimants Win Right To Probe Insurance Pacts

    As a controversial reorganization plan hangs in the balance, a group of asbestos claimants have won bankruptcy court permission to examine the insurance policies held by defunct Quigley Co. Inc. and corporate parent Pfizer Inc., pushing back the unit’s Chapter 11 plan confirmation hearing indefinitely.

  • May 31, 2006

    Citigroup Tries To Horn In On Eurotunnel Restructuring

    Eurotunnel has announced an eagerly anticipated deal to restructure its massive debt, in a move that the company says will spare it from bankruptcy. But Citigroup is trying to lure Eurotunnel’s bondholders away from the proposed deal.

  • May 31, 2006

    Firm Profile: Winstead

    Dallas-based Winstead Sechrest & Minick PC may be heavy on all matters Texas, but with an office in Washington, D.C. and a keen eye on the U.S. economy, that has hardly stopped the firm from obtaining national business.

  • May 31, 2006

    Delta Reaches Concession Deal With Pilots

    Raising the ire of the Pension Benefit Guaranty Corp., Delta Air Lines Inc. and its pilots struck a deal Wednesday that allows $280 million in annual concessions.

  • May 30, 2006

    Booz Allen Hamilton To Help Struggling Delphi

    A judge gave troubled auto parts supplier Delphi Corp. the go-ahead Tuesday to hire a consultant to continue with the company’s restructuring plan.

  • May 30, 2006

    Hedge Fund Bayou Group Files For Chapter 11

    Embattled hedge fund Bayou Group has sought bankruptcy protection in an effort to recover funds for defrauded investors, the fund said in its Chapter 11 petition.

  • May 30, 2006

    Hunton & Williams Expands Restructuring Group

    Following through on its plan for expansion, the international law firm Hunton & Williams LLP has augmented its New York City-based lending and restructuring practice group with the addition of a partner from a nearby rival.

  • May 30, 2006

    With Hourglass Running Out, Adelphia Takes New Tack

    With the bankruptcy proceedings still mired in creditor disputes, cable giant Adelphia Communications Corp. is seeking permission from the court to sell its assets prior to a Chapter 11 plan of reorganization being confirmed.

  • May 30, 2006

    SeraCare Equity Holders Denied Official Committee

    The judge in charge of SeraCare Life Sciences Inc.’s Chapter 11 proceedings turned down a request to appoint an official equity holder’s committee, calling into question claims about SeraCare’s solvency as well as the thoroughness of the preparation of the ad hoc committee’s counsel in filing the motion.

  • May 30, 2006

    Enron To Reap $2.9B For Creditors

    News of guilty verdicts for Enron’s former top executives Thursday obscured a positive development for those owed money by the bankrupt energy company: Enron will sell its foreign assets for a total of $2.9 billion, a development that the company has touted as a boon for creditors.

  • May 26, 2006

    Founder Of Now-Bankrupt Hedge Fund Indicted

    The founder of now-insolvent hedge fund International Management Associates has been formally indicted on charges for mail fraud after over $100 million disappeared from the fund, prompting its Chapter 11 filing.

  • May 30, 2006

    Judge Lets LG.Philips Shut Off Its Displays

    Consumers that still prefer CRT flat-screen televisions to their thinner LCD cousins will have to look elsewhere, after a federal judge gave LG.Philips Displays USA the go to convert into Chapter 7 liquidation.

  • May 25, 2006

    Yukos Wins U.S. Judge's Approval for $1.4 Billion Sale

    A U.S. Bankruptcy judge has lifted a restraining order that blocked the sale of Russian oil company Yukos' stake in a Lithuanian refinery, giving a green light to the controversial transaction.

  • May 25, 2006

    Judge Nixes GM's Bid To Adjourn Delphi Hearings

    The judge in charge of auto parts manufacturer Delphi's Chapter 11 proceedings said in court Wednesday that he would not honor a request by General Motors to postpone hearings on Delphi's bid to void its labor contracts.

  • May 25, 2006

    PBGC Blasts Delta’s Proposed Pilot Contracts

    Strained to the breaking point, the Pension Benefit Guaranty Corp. has accused bankrupt Delta Airlines Inc. of violating federal pension law with its proposed new pilot contracts, an arrangement that could cost the government-backed insurer billions of dollars.

  • May 25, 2006

    U.S. Trustee Objects To Silicon Graphic's DIP Loan

    Though Silicon Graphics Inc. only just filed for bankruptcy at the start of May, the graphics display maker has already run into some trouble. The trustee in the case is asking a federal judge to deny final approval of a requested $23 million debtor-in-possession loan.

  • May 25, 2006

    Lay, Skilling Convicted In Enron Trial

    Former Enron executives Ken Lay and Jeff Skilling have been found guilty of conspiracy for their roles in the accounting fraud that caused the energy giant to become the second largest bankruptcy in history.

  • May 25, 2006

    Diocese Starts Selling Property To Pay Settlement

    Moving toward paying off millions of dollars in clergy sex-abuse claims, the bankrupt Catholic Diocese of Spokane, in Washington State, has put its bishops’ main office building—the chancery—up for sale.