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