Bankruptcy

  • September 6, 2006

    Dana Opposes Motion To Exclude Evidence

    Incensed by what it called “baseless assertions” against its incentive plan for retaining executives, Dana Corp. filed an opposition on Tuesday to a motion by the creditors committee to exclude certain pieces of evidence concerning settlement discussions.

  • September 6, 2006

    Firm Profile: Winston & Strawn

    As the bankruptcy attorneys at Winston & Strawn LLP try to help clients climb out of bankruptcy, they know they need to move the process forward as quickly as possible.

  • September 6, 2006

    Fans Lining Up For Tower Records Sale

    At least 12 prospective buyers have bid for Tower Records, the unit of MTS Inc. that declared bankruptcy in August, according to an investment banker for the record store.

  • September 6, 2006

    Delphi Committees In Power Struggle Over GM Case

    Shareholders and creditors of beleaguered auto maker Delphi Corp. are locked in a battle over which group should be in charge of prosecuting the company’s claims against General Motors.

  • September 5, 2006

    Judge Denies Dana’s Executive Compensation Bid

    A federal judge has denied Dana Corp.’s proposed incentive plan, under which the bankrupt auto parts maker would have shelled out almost $10 million to retain key executives upon its emergence from bankruptcy.

  • September 5, 2006

    Lawsuits May Unravel BAWAG-Refco Settlement

    A spate of U.S. lawsuits over Bank Für Arbeit und Wirtschaft AG’s (BAWAG) entanglement with Refco Inc.’s bankruptcy may end up threatening the sale of the Austrian bank.

  • September 5, 2006

    Judge Lets Delta Dump Pilots' Pension Plan

    In a major break for Delta Air Lines Inc.’s bankruptcy plans, a bankruptcy court on Tuesday allowed the airline to dump its pilots’ defined benefit pension plan.

  • September 5, 2006

    Silicon Graphics Asks Court To Approve Exit Financing

    High-end computer manufacturer Silicon Graphics Inc. hopes to win court approval to borrow $115 million from two lenders for its exit financing.

  • September 5, 2006

    IRS, Trustee Object To Owens Corning's Chapter 11 Plan

    A spate of objections has peppered the docket of Owens Corning’s Chapter 11 case in recent days, as a Sept. 18 confirmation hearing on the bankrupt fiberglass maker’s reorganization plan approaches.

  • September 1, 2006

    Dana To Fork Over $12.6M In Legal, Professional Fees

    Embattled auto parts manufacturer Dana Corp. must shell out a whopping $12.6 million to a slew of law firms and companies that have aided the company throughout its Chapter 11 proceedings.

  • September 1, 2006

    Delta Seeks To Dump Pilots' Pension Plan

    Bankrupt Delta Air Lines has asked a bankruptcy judge to let it terminate its underfunded pension plan for pilots to enable the carrier to exit from Chapter 11 by next year, but some pilots groups intend to rally in opposition to the move.

  • September 1, 2006

    Lawsuit Against Ernst & Young To Move Forward

    A federal judge has denied Ernst & Young’s motion to dismiss a class action lawsuit related to its role in the Seitel Inc. accounting scandal.

  • September 1, 2006

    Skadden Ranked #1 In Bankruptcy Litigation

    Taking on more than twice as many Chapter 11 cases this past year as the majority of its competitors, Skadden clearly presides as the firm most clients turn to when facing a difficult bankruptcy, according to our survey of the 250+ largest firms in the United States.

  • September 5, 2006

    Firm Profile: Foley & Lardner

    Foley & Lardner LLP has been actively bolstering its bankruptcy ranks, spurred by high hopes to become an even bigger player in the field of creditor and debtor committee representation.

  • September 1, 2006

    Refco Secures Exclusivity Extension

    A federal judge on Thursday extended Refco Inc.’s exclusivity period until Sept. 12, thus giving the bankrupt brokerage firm 11 more days to negotiate a repayment plan.

  • September 1, 2006

    ABB Resolves Lummus Asbestos Claims

    Swiss-based engineering giant ABB Ltd. said Friday it had resolved asbestos claims against Lummus, its U.S. subsidiary, in a move that puts to rest the unit’s asbestos liabilities and opens the door for its sale.

  • August 31, 2006

    Adelphia Hit With Objections To Disclosure Plan

    Adelphia Communications Corp. has been assailed from all sides with objections to its proposed disclosure plan, with interested parties accusing the bankrupt cable provider of abandoning neutrality in intercreditor disputes and hastily drafting a reorganization plan.

  • August 31, 2006

    Delta, Pilots Clash Over Pension Plan

    Bankrupt carrier Delta Airlines has turned a deaf ear to the protests of retired pilots, asking a judge to toss its pension plans in an effort to cut costs. But the pilots aren’t giving up without a fight.

  • August 31, 2006

    Oneida’s Reorganization Plan Confirmed

    A federal judge has approved Oneida Ltd.’s reorganization plan over the objections of the company’s shareholders, who will be left with nothing when the flatware maker emerges from Chapter 11 on Sept. 12 as a private entity.

  • August 31, 2006

    Collins & Aikman Files Reorganization Plan

    Auto parts supplier Collins & Aikman Corp. announced Wednesday that it filed a reorganization plan calling for its emergence from court protection as a stand-alone company.