Paving the way for Silicon Graphics Inc.’s emergence from Chapter 11 protection, a bankruptcy judge on Wednesday gave the company the green light to enter into backstop commitments for a rights offering to be conducted through its reorganization plan.
The U.S. Trustee overseeing Best Manufacturing Group LLC’s bankruptcy case has objected to the company’s choice of an investment bank, balking at fees that “could total millions of dollars.”
Tower Records Inc., which filed for Chapter 11 last week, has asked the bankruptcy court for permission to retain O’Melveny & Myers LLP as its co-counsel.
Law firms stand to reap millions after the judge overseeing cash-strapped Delta Airlines’ bankruptcy proceedings entered an order approving a slew of payment applications, bringing the total cost of the airline’s Chapter 11 proceedings to more than $70 million.
The agent for Interstate Bakeries Corp.'s prebankruptcy lenders has come out in support of the company’s bid for an extension of its exclusivity period, saying the company will keep faltering if it doesn’t get out of bankruptcy protection soon.
Biopharmaceutical company Ausam Biotechnologies Inc. has won 90 additional days to retain its exclusive right to put forth a reorganization plan, marking its second extension since it filed for Chapter 11 in February.
Less than a month after Tower Automotive Inc. bid for an extension in its Chapter 11 proceedings, a bankruptcy court has conditionally agreed to give the auto parts maker 60 additional days to file a reorganization plan and solicit creditor support.
Two members of the founding family of Adelphia Communications Corp. have been granted $600,000 from a company insurance policy to pay mounting legal fees related to their civil fraud case, according to court filings.
The U.S. Trustee overseeing Galvex Capital Ltd.’s Chapter 11 case has objected to a payment request from attorneys for the steel company’s unsecured creditors committee, complaining that Galvex Capital LLC hasn’t complied with its obligations to report and pay quarterly fees to the Trustee.
Beleaguered auto supplier Dana Corp. has asked the bankruptcy court for permission to retain Skadden, Arps, Slate, Meagher & Flom LLP as its special counsel throughout its Chapter 11 proceedings.
Nearly three months after Riverstone Networks Inc. asked for court approval to revamp an old shareholder lawsuit settlement, a federal judge has given the green light to the bid, enabling the bankrupt ethernet provider to recoup nearly $1 million in fees originally paid to shareholders’ lawyers.
Bankrupt flooring company Congoleum Corp. is one step closer to untangling its messy insurance situation, after Century Indemnity Co. agreed to pay $16.95 million to a trust created to pay off asbestos claims filed against Congoleum.
Raring to push forward a competing reorganization plan, an ad hoc equity committee will ask a judge Thursday to do away with SeraCare Life Sciences Inc.’s exclusivity period to submit a sole plan.
Foam cup maker Radnor Holdings Corp. filed for Chapter 11 protection Monday, having already found a buyer for nearly all of its assets.
A court order permitting bankrupt futures brokerage Refco Inc. to pay off $127.5 million in intercompany claims has raised the ire of the lead plaintiffs in a securities suit pending against the company.
Pfizer Inc. and its unit Quigley Co. have asked a federal judge to reconsider his recent decision to dilute the Chapter 11 plan votes of claimants who had previously agreed to reduce their asbestos claims.
In a move that will create a strong bankruptcy practice and a New York presence for Cooley Godward LLP, the firm announced on Tuesday that it is merging with New York litigation firm Kronish Lieb Weiner & Hellman LLP, forming the 550-attorney law firm Cooley Godward Kronish LLP.
Congoleum’s bankruptcy proceedings have hit another snag, after the company’s insurers and bondholders challenged the flooring company’s reorganization plan by filing a plan of their own.
Financial and legal advisors in the Chapter 11 proceedings of Calpine Corp. have requested over $45 million in fees for the latest five-month period, including over $14 million requested from Calpine’s lead law firm Kirkland & Ellis LLP.
A secret report detailing the environmental liabilities of bankrupt chemicals company Solutia Inc. has prompted the U.S. government to join a motion filed by tort plaintiffs seeking access to the liability analysis.