Andrew N. Yao, the former head of now-bankrupt Student Finance Corp., was found guilty Wednesday of lying during a bankruptcy deposition.
A group of hedge funds ordered by a bankruptcy court to disclose information about trades they made relating to Northwest Airlines Corp. has appealed the ruling, arguing that the disclosure would violate certain laws.
A judge overseeing Musicland Holding Corp.'s bankruptcy case has shot down a proposed overtime pay class action brought by former store managers, saying the class claim would doom the music retailer’s liquidation plan.
A court has slapped a restraining order on creditors that want to sue Wachovia Bank for losses sustained in the collapse of drink maker Le-Nature's Inc.
The U.S. Trustee overseeing Northwest Airlines’ bankruptcy case has thrown her support behind a group of creditors demanding the court appoint an examiner to investigate merger possibilities.
Continuing to beef up its restructuring ranks, Bracewell & Giuliani has snagged a pair of bankruptcy partners from Bingham McCutchen LLP to help spearhead efforts in its new Hartford office.
Entergy New Orleans has its eye on a June exit from bankruptcy after securing approval from a crucial committee regarding its hurricane-related costs, according to one of the energy giant’s top officials.
Holders of over $45 million in bonds issued to build the Cincinnati/Northern Kentucky International Airport lashed out at a proposed settlement between Delta Air Lines Inc. and the Kenton County Airport Board on Tuesday, arguing that the deal violates Kentucky state law.
A shareholder group for Allied Holdings Inc. has once again lost a bid to play a larger role in the auto carrier’s Chapter 11 case.
Stamp dealer Afinsa Bienes Tangibles SA filed for Chapter 15 protection on Tuesday in order to run its bankruptcy proceedings in Spain without U.S. interference.
Bankrupt auto parts maker Dana Corp. has committed $78 million to a trust for nonunion retirees, even as a hearing got underway to determine if the company can reject its labor contracts and benefits for two major unions.
A federal bankruptcy judge on Tuesday took a U.S. Trustee’s advice and rejected a settlement between Nellson Nutraceutical Inc.’s second-lien lenders and its controlling shareholder, Fremont Capital Partners LLP, that would have inched the company one step closer to exiting Chapter 11.
Weil Gotshal & Manges has lost four of its top bankruptcy partners to rival Cadwalader, Wickersham & Taft, only days after welcoming back renowned bankruptcy expert and practice founder Harvey Miller.
After recent revelations about criminal and regulatory investigations, New Century Financial Corp. said Tuesday that it now faces a grand jury subpoena and a U.S. Securities and Exchange Commission investigation.
A group of Northwest Airlines shareholders has objected to the airlines request for yet more time to file a reorganization plan, arguing the debtors have had “far too long” as it is.
A criminal trial involving Andrew N. Yao, the former head of now-bankrupt Student Finance Corp., began Monday over charges that he lied four years ago during a bankruptcy deposition.
Funding for subprime mortgage lender New Century Financial Corp. is quickly drying up, according to the company, which told investors on Monday that its lenders have either cut off funding or are preparing to do so.
A Canadian life insurance company has hit French bank Societe Generale with a proposed class action accusing the bank of causing a Canadian hedge fund to collapse into bankruptcy and asking for $1.36 billion in compensation.
Refco Inc.’s creditors are demanding permission to take a closer look at the fallen futures broker’s underwriters, but the banks are not giving up without a fight.
Bankrupt auto parts manufacturer Tower Automotive Inc. is seeking court approval to extend its payment on $97.2 million worth of credit issued by Deutsche Bank Trust Co.