Three months after a crucial stay was lifted, the noteholders of bankrupt financial services outfit Thaxton Group Inc. have reached a $10 million partial class action settlement over the allegedly fraudulent sale of $120 million worth of debt to individuals.
A bankruptcy judge has stopped a small cable television channel from interfering in the impending sale of bankrupt Adelphia Communications Corp. with an antitrust lawsuit.
On the heels of last week’s settlement announcement, Austrian lender BAWAG PSK Group has revealed that it will pay at least $675 million to federal regulators for its alleged role in the collapse of futures broker Refco Inc.
Deutsche Bank and other infra-junior creditors are drawing up their own restructuring plan to deal with Eurotunnel’s €6.2 billion ($11.7 billion) debt, in a move that stems from unrest among Eurotunnel’s junior debtholders, according to a published report.
The sale of a bankrupt lawn and garden company's assets should bear fruit for lenders, who are expecting a payout from the more than $60 million earned from the sale.
Still trying to recover from the massive accounting fraud dubbed “Europe’s Enron,” Italian dairy conglomerate Parmalat Finanziaria SpA has scored a four-month extension of a U.S. court protection order against its creditors.
In a bid to avoid a criminal indictment in the United States, Austrian lender Bawag PSK Group has settled out of court with federal regulators for an amount that may exceed $600 million for its alleged role in the collapse of futures broker Refco Inc.
The Federal Trade Commission should be stripped of its power to review mergers, with the responsability consolidated under the U.S. Department of Justice, a dissenting minority of the Antitrust Modernization Commission has proposed.
Awaiting court approval of its reorganization plan, Pliant Corp. remains on the cusp of emerging from bankruptcy, but some creditors are arguing that the packaging maker is not ready to wrap up its bankruptcy just yet.
Adelphia Communications Corp. can breathe a sigh of relief now that a judge has extended the deadline for creditor approval of its Chapter 11 reorganization plan, giving the company two more weeks to resolve a dispute between noteholders that is holding up the process.
One week after guilty verdicts were handed down against Enron’s two top former executives, the beleaguered oil giant has reached a settlement with Vinson & Elkins LLP, a prominent Texas law firm that had been accused of negligence in the watershed corporate scandal.
Less than a month after Silicon Graphics Inc. asked a bankruptcy court to limit large trades of its equity, the high-performance computer maker has won final court approval to do so in a bid it hopes will help to protect certain tax benefits.
Metabolife International Inc., the defunct dietary supplement manufacturer, has reached agreements to settle the first round of hundreds of wrongful injury and death lawsuits over its ephedra-based products, according to bankruptcy court documents.
Raising the ire of the Pension Benefit Guaranty Corp., Delta Air Lines Inc. and its pilots struck a deal Wednesday that allows $280 million in annual concessions.
A small cable television channel has taken on broadcasting powerhouses Time Warner Inc. and Comcast Corp., hoping to block their impending acquisition of now-bankrupt Adelphia Communications Corp.
As a controversial reorganization plan hangs in the balance, a group of asbestos claimants have won bankruptcy court permission to examine the insurance policies held by defunct Quigley Co. Inc. and corporate parent Pfizer Inc., pushing back the unit’s Chapter 11 plan confirmation hearing indefinitely.
Eurotunnel has announced an eagerly anticipated deal to restructure its massive debt, in a move that the company says will spare it from bankruptcy. But Citigroup is trying to lure Eurotunnel’s bondholders away from the proposed deal.
Dallas-based Winstead Sechrest & Minick PC may be heavy on all matters Texas, but with an office in Washington, D.C. and a keen eye on the U.S. economy, that has hardly stopped the firm from obtaining national business.
A judge gave troubled auto parts supplier Delphi Corp. the go-ahead Tuesday to hire a consultant to continue with the company’s restructuring plan.
With the bankruptcy proceedings still mired in creditor disputes, cable giant Adelphia Communications Corp. is seeking permission from the court to sell its assets prior to a Chapter 11 plan of reorganization being confirmed.