Bankruptcy

  • June 30, 2006

    Auto Parts Supplier Fights Ticking Clock

    Auto-parts supplier Collins & Aikman Corp. is seeking its fourth extension for filing its Chapter 11 plan, citing a large and complex bankruptcy case and the potential sale of pieces of its business.

  • June 30, 2006

    Banks Appeal Adelphia Ruling On Grid Interest

    Several banks that loaned Adelphia Communications Corp. a combined $6.8 billion before its bankruptcy filing have appealed a decision that allowed the cable company to wriggle out of paying $187 million in interest.

  • June 30, 2006

    Delta's Plan For More Time Takes Flight

    A New York bankruptcy judge has given Delta Air Lines Inc. another four months to file its reorganization plan, but the nation’s third-largest air carrier says it should still be able to emerge from Chapter 11 next year.

  • June 30, 2006

    Owens Corning Garners $2.2B Equity Agreement

    Long bankrupt Owens Corning won court approval Thursday for a $2.2 billion equity commitment agreement with J.P. Morgan Securities Inc. that should help the fiberglass maker finally exit Chapter 11 later this year.

  • June 30, 2006

    Northwest Wins Right To Reject Flight Attendant Contract

    After months of failed negotiations, a federal bankruptcy judge has given Northwest Airlines Corp. the green light to reject its labor contract with an estimated 9,300 flight attendants.

  • June 30, 2006

    Hawaiian Air Claims Rival Stole Trade Secrets

    All is not well for Hawaiian Airlines and inter-island competitor Mesa Air Group Inc., which have been slinging allegations of trade secret violations and anti-competitive conduct against each other in bankruptcy court.

  • June 30, 2006

    $506M Settlement Approved For Bawag, Refco

    A bankruptcy court judge has approved the $506 million settlement between Austrian bank Bank Für Arbeit und Wirtschaft AG (BAWAG) and bankrupt futures broker Refco Inc. after postponing the ruling earlier this week to allow creditors to hammer out the language of the agreement.

  • June 29, 2006

    Judge Extends Deadline For Northwest Chapter 11 Plan

    Bankrupt carrier Northwest Airline has won a little more time to tweak its reorganization plan, thanks to a bankruptcy court ruling that extends the deadline for the plan to Jan. 15.

  • June 29, 2006

    Winn-Dixie Files Reorganization Plan

    Winn-Dixie Stores Inc. could emerge from Chapter 11 protection as soon as late October, with enough financing to open new stores and invest in the more than 500 stores it already has, according to a reorganization plan filed Thursday.

  • June 29, 2006

    Seyfarth Shaw Adds New Partner To Bankruptcy Team

    The full-service law firm Seyfarth Shaw LLP has baited a new partner to build on its bankruptcy practice in Chicago.

  • June 29, 2006

    FERC Says No To Enron’s $120M Fee Request

    The Washington utility company that helped uncover an Enron Corp. conspiracy to manipulate energy markets will not have to pay Enron a $120 million contract termination fee, federal regulators have determined.

  • June 29, 2006

    Allied Holdings Eyes New DIP From Hungry Investor

    Insolvent Allied Holdings Inc. has asked a bankruptcy court to approve a $130 million amended debtor-in-possession loan so the auto hauler can pay off earlier debt and maintain operations.

  • June 29, 2006

    Metabolife Slims Down Ephedra Settlements

    Metabolife International Inc. will settle $130 million in 21 ephedra-related claims for only $4.7 million, after a federal bankruptcy judge signed off on the deal on Wednesday.

  • June 29, 2006

    Court OKs Suit Alleging KPMG Failed To Detect Fraud

    In the latest blow to KPMG LLP, a court has greenlighted a lawsuit against the Big Four accounting firm brought by shareholders of a fraud-ridden company that lapsed into bankruptcy after KPMG, the company’s auditor, failed to perform proper audits.

  • June 29, 2006

    Kmart Employees To Split $11.75M Settlement

    A judge has approved an $11.75 million settlement for former Kmart Corp. employees and retirees who alleged that the company forced them to invest their pensions in the retailer’s worthless stock.

  • June 28, 2006

    SeraCare’s Shareholders Want Meeting With Company

    SeraCare Life Sciences Inc.’s ad hoc committee of equity holders is pushing for a shareholder meeting or an end to the bankrupt company’s exclusivity period, according to a motion it filed Monday with the U.S. Bankruptcy Court in San Diego.

  • June 28, 2006

    Eurotunnel Calls For Investigation Of Rival Proposal

    In the latest chapter of the acrimonious story of Eurotunnel’s efforts to restructure its enormous debt, the Channel Tunnel operator has asked French and English market authorities to investigate an alternate restructuring plan developed by Deutsche Bank over concerns that the proposed plan was deceptive.

  • June 28, 2006

    Judge Turns Over Hourglass For Dana

    Giving Dana Corp. some room to breathe, a U.S. bankruptcy judge has granted the beleaguered auto supplier’s request to extend its sole right to file a reorganization plan by an additional six months.

  • June 28, 2006

    Judge Orders Second Hearing On BAWAG Settlement

    A bankruptcy court has delayed the approval of a settlement between creditors of bankrupt futures broker Refco Inc. and Austria’s Bank Für Arbeit und Wirtschaft AG, pushing a hearing on the $675 million deal to the end of the week.

  • June 28, 2006

    Galvex Wins Extension To File Plan

    Six weeks after embattled steel maker Galvex Holdings Ltd. made a bid to retain exclusive control over its Chapter 11 case for another four months, a bankruptcy court has granted that request and extended the deadline for the company’s reorganization plan to the fall.