Stockholders in bankrupt Oneida Ltd. are fighting to recoup their losses, but in court papers filed Monday, the U.S. Trustee overseeing the Chapter 11 proceedings said they’re wasting everybody’s time.
Tightened bankruptcy regulations may be preventing troubled U.S. manufacturing industries from attracting turnaround executives and retaining key players on management teams.
After rummaging through Holland & Knight’s office, Buchanan Ingersoll PC has pulled on board a veteran bankruptcy lawyer to its bankruptcy and creditors’ rights group.
Bankrupt auto parts maker Collins & Aikman Corp. has asked a bankruptcy court for permission to change some of its contracts with General Motors, echoing the moves of several other struggling suppliers seeking to cut costs.
A federal bankruptcy court has given AOL Latin America Inc. the go-ahead to liquidate, allowing the flailing Internet unit to shed its liabilities and turn over all of its assets to three major shareholders.
Bear Stearns Asset Management Inc. is still fixing to purchase PlusFunds Group Inc., even though the sale of the investment-fund manager to private equity firm FTVentures has already been cleared by the bankruptcy judge.
As the debate over how best to reform U.S. pension law continues to rage in Congress, a proposed special provision for bankrupt airlines is threatening to derail the finalization of a bill intended to force businesses to honor their pension obligations.
Seeking more than $1.3 billion, unsecured creditors for Refco Inc. are suing Austrian bank Bawag PSK Group, accusing the financier of helping propel the futures broker into bankruptcy through a series of fraudulent loans to Refco’s embattled former chief.
The most recently bankrupt unit of Swiss engineering giant ABB Ltd. has received court approval to tap more than $50 million in financing to maintain operations during what the company plans to be a brief stint in Chapter 11.
Integrated Electrical Services Inc. has emerged from Chapter 11 bankruptcy, according to George F. McElreath, the Assistant U.S. Trustee for the Northern District of Texas.
The city of Los Angeles wants bankrupt Delta Airlines out of its current lease at Los Angeles International Airport, and has gone to court to hasten the process.
The financial restructuring group at King & Spalding runs on more than knowledge and in-depth experience—deep-rooted loyalty also helps fuel this middle-market corporate practice.
Following in the steps of other creditors committees that have found ambiguities in the U.S. Bankruptcy Code, Oneida Ltd.’s committee of unsecured creditors is requesting that the court confirm that it is not entitled to disclose confidential information to the creditors it represents.
Bankrupt power and communications provider Integrated Electrical Services is in federal regulators’ crosshairs, a recent filing with the Securities and Exchange Commission reveals.
A federal judge has expressed concerns over a $45.7 million proposed settlement agreement between the bankrupt Catholic Diocese of Spokane and 75 sex abuse victims, saying the deal may not give fair treatment to all parties involved.
In yet another professional setback for the law firm Gilbert Heintz & Randolph LLP, a bankruptcy judge overseeing Chapter 11 proceedings for flooring materials company Congoleum Corp. has paved the way for a bondholder lawsuit against the firm for alleged conflict of interest.
Defunct regional airline carrier Mesaba Aviation Inc. is seeking bankruptcy court permission to pay the expenses for new debtor-in-possession lenders, after MAIR Holdings Inc., the original financier, lapsed on its financing commitment.
The creditors of beleaguered brokerage giant Refco Inc. have reached a $263 million settlement with Sphinx Managed Futures Fund SPC, putting to end a fight that erupted after parent company PlusFunds Group Inc. transferred $312 million amid Refco’s collapse.
Another unit of Swiss/Swedish ABB Ltd. has ducked into Chapter 11 bankruptcy protection, seeking sanctuary from the thousands of asbestos claims that continue to haunt the engineering giant and its subsidiaries.
Refco Inc.’s former CEO, Philip Bennett, has asked a Manhattan district court judge to throw out a $245 million criminal fraud class action suit brought against him by three funds managed by Thomas H. Lee Partners, a private equity firm that facilitated the commodity brokerage’s initial public offering last year.