Bankruptcy

  • July 7, 2006

    FCC To Vote On Adelphia Sale

    The Federal Communications Commission has announced it will soon rule on the $17 billion sale of Adelphia Communications Corp.’s assets to former rivals Comcast Corp. and Time Warner Corp., in the final chapter of what has become a long-running saga.

  • July 7, 2006

    Porter Hayden To Emerge From Chapter 11

    The federal bankruptcy court and the U.S. District Court in Maryland have both approved Porter Hayden Company’s Chapter 11 plan, giving the Baltimore-based company the green light to emerge from bankruptcy more than four years after it was driven into Chapter 11 by asbestos-related personal injury claims.

  • July 6, 2006

    Refco Unit Warns Sphinx Investors Of Losses

    A Refco Inc. unit has alerted investors in four Sphinx funds it operates that they will likely win back no more than 20 cents of every dollar they put into the funds after a $263 million settlement with Refco’s creditors sapped finances at Sphinx Managed Futures Fund.

  • July 6, 2006

    Bondholders Blast Eurotunnel

    The already acrimonious debate over how to restructure Channel Tunnel operator Eurotunnel’s €6.2 billion debt came to a boiling point Thursday, with a bondholder group calling the company’s purported good-faith attempts to negotiate a charade.

  • July 6, 2006

    Amcast Requests Documents From General Motors

    Amcast Industrial Corp. has asked a bankruptcy judge to compel General Motors Corp. to produce documents related to its ongoing pricing disputes with the auto manufacturer.

  • July 6, 2006

    AlixPartners Adds Managing Director

    Corporate turnaround firm AlixPartners has added another managing director to its team, nabbing former IBM executive Matt Pannier for its Chicago office.

  • July 6, 2006

    New Lawsuits Target Bayou Investors

    Former investors in insolvent hedge fund Bayou Group will soon have to defend themselves in court, after receivers for the now-defunct fund filed 25 lawsuits seeking to redistribute proceeds paid to investors before the group’s collapse.

  • July 6, 2006

    Northwest Nails Contract Date As Flight Attendants Vote

    Nearly a week after Northwest Airlines Corp. was given the green light to reject its labor contract with an estimated 9,300 flight attendants, a federal bankruptcy judge has ruled that the embattled carrier can enforce a new contract on its flight attendants on July 17.

  • July 6, 2006

    Merrill Lynch To Pay $29.5M To Enron

    In a victory for Enron Corp.’s remaining estate, Merrill Lynch & Co. Inc. has agreed to pay the fallen energy trader $29.5 million to settle allegations that it helped plunge Enron into bankruptcy.

  • July 6, 2006

    Kaiser Aluminum Steers Out Of Bankruptcy

    After being parked in Chapter 11 for more than four years, aerospace and automotive aluminum producer Kaiser Aluminum Corp. pulled out of bankruptcy protection Thursday following a settlement over its asbestos liability claims.

  • July 5, 2006

    Silicon Graphics Revamps Reorganization Plan

    On the heels of a global agreement reached last week with its unsecured creditors, Silicon Graphics Inc. filed an amended reorganization plan Monday, marking the latest step in the high-end computer manufacturer’s fast track towards exiting Chapter 11 bankruptcy protection.

  • July 5, 2006

    Creditor Holds Up Deal With Refco Unit

    Commodities trader Jim Rogers is stalling on a pact that more than 50 other creditors have already approved to recover $2.3 billion from Refco Inc.’s unregulated Bermuda unit.

  • July 5, 2006

    Meridian Files Third Chapter 11 Plan

    Meridian Automotive Systems Inc. has filed its third amended Chapter 11 plan, touted by the company as a step toward regaining solvency and the culmination of a “consensual agreement” with major creditor groups.

  • July 5, 2006

    Crescent May Settle $74M Fraud Suit For $2M

    A $2 million cash payment may bring an end to a $74 million fraud lawsuit filed by Capital Factors Inc. against bankrupt jewelry chain Crescent Jewelers, allowing the jeweler’s Chapter 11 proceedings to speed to a close.

  • July 5, 2006

    Oneida’s Bankruptcy Plan Opposed

    Two separate entities have come out against Oneida Ltd.’s reorganization plan, putting in jeopardy the flatware maker’s imminent emergence from Chapter 11.

  • July 5, 2006

    Pliant Fires Back At Ex-CEO

    Embattled Pliant Corp. has asked a bankruptcy judge to toss out a request by its former chief executive to obtain $11.7 million that the packaging company allegedly owes him for the repurchase of some of its stock.

  • July 5, 2006

    Court Blesses J.L. French Settlement

    A judge has pushed aside the last hitch remaining in J.L. French Automotive Castings Inc.’s bankruptcy case, approving a settlement to resolve a disagreement between unsecured creditors and first-lien lender General Electric Capital Corp.

  • July 5, 2006

    Allied Adds To DIP Loans

    Allied Holdings Inc. has received bankruptcy court permission to add $30 million to its debtor-in-possession financing, the company said on Friday.

  • June 30, 2006

    Oneida Braces For Worst-Case Scenario

    Though the hearing to confirm Oneida Ltd.’s reorganization plan is just around the corner, the bankrupt flatware maker has taken the cautious step of asking the court for a three-month extension of its exclusive right to file a restructuring proposal.

  • June 30, 2006

    Auto Parts Supplier Fights Ticking Clock

    Auto-parts supplier Collins & Aikman Corp. is seeking its fourth extension for filing its Chapter 11 plan, citing a large and complex bankruptcy case and the potential sale of pieces of its business.