Though falling short of the amount of time it had originally asked for, bankrupt auto supplier Collins & Aikman Corp. has received an extra 75 days to have the exclusive right to file its Chapter 11 reorganization plan.
One of the oldest restructuring firms is looking at Europe, Asia and the public sector as venues for future expansion.
J.P. Morgan Securities Inc. may turn out to be the biggest winner in Owens Corning’s asbestos-related bankruptcy case, with the investment bank primed to receive $100 million for its part in the beleaguered fiberglass manufacturer’s upcoming Chapter 11 exit.
Two bar associations are taking the nation's tough new bankruptcy law to court, saying the provisions censor attorneys and violate the rights of clients to receive constitutionally protected legal advice.
Embattled steel maker Galvex Holdings Ltd. is seeking bankruptcy court permission to retain exclusive control over its Chapter 11 case for another four months, arguing that additional time is needed while the sale of its assets to Silver Point Capital is being finalized.
Tuning out the protests of Calpine Corp.’s first-lien bondholders, a federal bankruptcy judge has authorized the beleaguered power giant to repay all of its outstanding $646.1 million debt to the bondholder group, while temporarily suspending a $96 million prepayment penalty.
The liquidator of a Cayman Islands bank has petitioned for U.S. Bankruptcy Court protection, saying the move is necessary in order to continue his investigation into the collapse of the offshore bank and its Dominican Republic-based parent, Banco Nacional de Credito SA, or Bancredito.
One of the largest shareholders of bankrupt foam-cushion manufacturer Foamex International Inc. is seeking a seat at the bargaining table after an unexpected reversal of fortune turned Foamex stock into a hot commodity.
Although bankrupt hedge fund manager PlusFunds Group Inc. had fielded two promising bids from private equity firm FTVentures and Bear Stearns Asset Management Inc. to purchase its assets just weeks earlier, it failed to secure a buyer and announced its plan to wind down its business.
Owens Corning has reached agreements with six creditor groups that should allow the company to emerge from Chapter 11 bankruptcy by the end of 2006.
Two days after filing for Chapter 11 protection, high-performance computer maker Silicon Graphics Inc. has asked a bankruptcy court to limit large trades of its equity, saying it wants to protect about $1 billion in net operating loss carryforwards for tax purposes.
With trouble brewing with its first-lien lenders, bankrupt auto parts maker J.L. French has responded to their concerns with haste, in hopes of stopping the squabble before it starts.
Paying off a debt early has a $96 million price tag for Calpine Corporation, but the bankrupt power company has decided it is worth it. The company won authorization from its lenders on Tuesday to use its debtor-in-possession loan to repay $646.1 million to bondholders.
For Bridge Associates LLC, a “willingness to think outside the box” has helped to make the firm one of the leaders in the turnaround and restructuring world over the past decade.
Bankrupt USA Commercial Mortgage Co. has filed motions asking for permission to suspend payments to investors and compel a disbursement agency to free up the lender's funds.
Putting an end to Credit Suisse Group’s involvement in the “MegaClaims” litigation, a U.S. affiliate of the Swiss bank has decided to fork over $90 million to the bankruptcy estate of Enron Corp. to answer allegations stemming from the energy giant’s 2001 collapse.
In lock step with its filing for Chapter 11 bankruptcy protection Monday, computer maker Silicon Graphics Inc. is seeking to retain Weil Gotshal & Manges LLP as counsel.
J.L. French cannot avoid feuding with various groups of creditors involved in its Chapter 11 proceedings. Just one week after settling a spat with creditors, the bankrupt auto parts maker has raised the ire of its first-lien lenders, including General Electric Capital Corp.
Two groups of dentists have filed objections to bankrupt orthodontic services firm OCA Inc.’s proposed reorganization plan, in an attempt to stymie the restructuring model that was agreed to last week by OCA’s unsecured creditors and senior lenders.
Under pressure from the U.S. Trustee, the restructuring firm hired by Dana Corp.’s unsecured creditors has decided to drop a contract provision that would have allowed it to collect a hefty $1 million completion fee.