Bankrupt health care provider Curative Health Services Inc., which has fought against many of the claims filed by creditors in its Chapter 11 case, won a $3.75 million concession on Friday from the New York City Department of Finance.
The costs of Solutia Inc.’s bankruptcy continue to mount, with lead counsel Kirkland & Ellis applying for another $5 million in compensation, bringing the firm’s total fees to over $30 million.
A federal judge has denied a bid by a group of hedge funds to throw out a state court order barring the funds from suing Wachovia Corp. over the bank’s possible role in the collapse of bankrupt drink maker Le-Nature's Inc.
Housewares company Home Products International Inc. emerged from bankruptcy on Wednesday after having declared over $116 million in publicly held debt only four months ago.
Mississippi-based power wholesaler Magnolia Energy LP officially blossomed out of bankruptcy on Friday, having found a way to refinance its $427 million debt.
Nine attorneys from Philadelphia bankruptcy and insolvency law firm Adelman Lavine Gold Schildhorn and Kleban, including all of its named partners, have announced they will collectively shed their status as boutique lawyers to join a larger firm.
Unsecured creditors of Malden Mills Industries Inc. want a bankruptcy court to sign off on a deal with the beleaguered fleece manufacturer’s creditor General Electric Capital Corp. following months of "difficult negotiations."
In a ruling that could dissuade so-called vulture funds from buying the distressed debt of bankrupt companies, a court has found that a single bank has no right to sue against the wishes of other lenders.
A federal bankruptcy judge has given Tower Automotive Inc. a temporary extension on its exclusive right to develop a turnaround plan despite the opposition of the bankrupt auto parts maker’s creditors.
After weeks of protest, a group of hedge funds decided Wednesday to turn over information regarding its trading activity in Northwest Airlines Corp.’s stock and debt.
After much debate, Werner Co. has designated a lead bidder in the auction for its assets, choosing a $265 million offer put forth by two first-lien lenders in the ladder maker’s bankruptcy case.
Credit Suisse Group Inc. filed an objection Thursday to bankrupt energy provider Calpine Corp.’s request for a proof of the investment bank’s $7.9 million claim, arguing that the motion should be overruled.
U.S. Energy Biogas Corp. reached an agreement with the state of Illinois and the Illinois Commerce Commission on Thursday, resolving what it called the “principal remaining outstanding issue” in its Chapter 11 filing.
A bankruptcy judge has postponed ruling on a claim by Northwest Airline’s 8,000 flight attendants for $1.1 billion in lost wages and benefits.
After catching heat from reporters, a bankruptcy judge has withdrawn an order requiring members of the press to sign confidentiality agreements to attend a trial involving a creditor dispute with Nvidia Corp. over its 2001 purchase of 3dfx Interactive Inc., a struggling graphics chip designer.
As rumors churn over whether or not subprime lender New Century Financial Corp. will enter Chapter 11, a report surfaced Thursday that the company has retained financial and legal advisors.
New Century Financial Corp.’s outlook grew dimmer on Tuesday when the embattled subprime mortgage lender said it was ordered to stop operations in its home state of California and Fannie Mae refused to purchase the company’s loans.
After numerous extensions, a federal bankruptcy judge has set aside another few weeks for Werner Co.’s financial advisor and the ladder maker’s unsecured-creditors committee to put an end to the feud that erupted over a $1.39 million fee payment.
Dura Automotive Systems Inc. has won permission to stay in the driver's seat of its Chapter 11 organization plan, after a bankruptcy judge extended the troubled auto parts company’s exclusivity period to May 23.
Skadden, Arps, Slate, Meagher & Flom LLP, which has already collected over $40 million for its work on the Refco Inc. bankruptcy, has voluntary knocked $1 million off its invoice in the wake of opposition.