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  • September 4, 2007

    Judge Tunes Out Iridium Creditor Claims

    In a blow to Iridium's unsecured creditors, a federal bankruptcy judge has partially rejected the idea that Motorola is to blame for the satellite-based mobile phone unit's collapse, putting a damper on their quest to regain $3.4 billion from the technology giant.

  • September 5, 2007

    JPMorgan Exec Loses Bid To Rehear Clawback Ruling

    A federal judge has denied a bid by JPMorgan Chase & Co.'s former senior vice president to reconsider an earlier ruling granting the company's motion for summary judgment on her breach of contract claim over clawback stock award compensation she received before jumping to Charter One Bank.

  • August 30, 2007

    Judge Chides Feds For Not Revealing Bill-Padding

    The bankruptcy judge for W.R. Grace & Co. on Wednesday criticized federal prosecutors for not alerting her to allegations that accounting firm L. Tersigni Consulting PC was illegally padding bills while advising asbestos claimants in large Chapter 11 cases.

  • August 30, 2007

    Global Power Objects To More Than $200M In Claims

    In its Chapter 11 case, power-plant equipment manufacturer Global Power Equipment Group Inc. is trying to fend off more than $200 million in claims submitted by several energy companies.

  • August 31, 2007

    Delta Mills' Largest Secured Creditor Objects To Plan

    GMAC Commercial Finance LLC is up in arms over Delta Mills Inc.'s proposed restructuring plan and has asked the bankruptcy court to deny confirmation, arguing the plan violates the terms of deals struck between the lender and the company.

  • August 30, 2007

    AAI Adopts Tough Stance Regarding Intel

    Stepping into the Intel-AMD fray, the American Antitrust Institute has sent a strongly-worded letter to the chairman of the Federal Trade Commission, urging the agency to take action against Intel for what it believes is “an abuse of dominance” in the microprocessor market.

  • August 29, 2007

    Northwest Sued Over Cancer Vaccine Claim

    Northwest Biotherapeutics, which saw its share price more than double after the biotechnology company announced approval of the world’s first brain cancer vaccine, faces two purported securities class actions for allegedly deceiving investors with misleading statements.

  • August 29, 2007

    Attorneys General Balk At Monsanto Merger

    More than a dozen attorneys general have lined up to protest the U.S. Department of Justice's tentative approval of Monsanto Co.'s merger with Delta & Pine Land Company, arguing that the deal will hurt competition in the cottonseed market and cause prices to skyrocket.

  • August 29, 2007

    Hollinger Ordered To Take SunTimes Spat North

    As Hollinger Inc.'s bondholders continue to vie for a chunk of the Sun-Times Media Group, a U.S. bankruptcy judge has reportedly thrown the dispute over who should control the remnants of Lord Conrad Black's media empire into Canada's lap.

  • August 29, 2007

    Global Power Reaches Agreement With Creditors

    Edging ever closer to the finish line of its bankruptcy proceedings, Global Power Equipment Group Inc. revealed on Tuesday that it has reached an agreement with its creditors committee on the terms of its Chapter 11 plan.

  • August 28, 2007

    Alix Still Hasn't Curbed Overcharging: Trustee

    Just two months after she objected to AlixPartners' first fee application in its work for Dura, U.S. Trustee Kelly Beaudin Stapleton has again balked at the restructuring firm's eight-figure fees and thirty-odd staff members for the case, calling the numbers "significantly out of line."

  • August 28, 2007

    Judge Signs Off On $449M Asbestos Deal

    A federal judge has approved a $449 million asbestos-related settlement between bankrupt insulation contractor ACandS Inc. and its insurance company, Travelers Cos., paving the way for ACandS' eventual emergence from Chapter 11.

  • August 28, 2007

    Motorola Units Target Aruba Over Wireless Patents

    Two subsidiaries of Motorola Inc. have filed an infringement lawsuit against network equipment maker Aruba Networks Inc. for allegedly violating patents covering wireless networking technology.

  • August 28, 2007

    Brocade Outside Directors Lose Bid To Toss Suit

    In a setback for lawyer Larry Sonsini and two other outside directors of Brocade Communications Systems Inc., a federal judge has refused to throw out a purported class action against them that alleges they knew or should have known about a scheme to backdate stock options at the company.

  • August 28, 2007

    American Home, Fannie Mae Agree To Servicing Pact

    Bankrupt mortgage lender American Home Mortgage Inc. has reached an agreement with Fannie Mae under which the lender will continue to service $5.2 billion in government-backed loans for the next few months.

  • August 27, 2007

    Software Co. Targets New Century Attorneys

    New Century Holdings Inc. has cried foul at Positive Software Solutions Inc.'s latest effort to kickstart its copyright claims, saying the suit the software company launched against the lender's ex-executives and law firm, Susman Godfrey LLP, constitutes another sanctionable violation of its bankruptcy's stay.

  • August 27, 2007

    Wells Fargo Fights Bankrupt Alliance Over Loans

    Well Fargo Bank NA has gone after bankrupt mortgage broker Alliance Bancorp Inc., filing an adversary case claiming breach of contract and seeking declaratory relief.

  • August 27, 2007

    Judge Approves Breast Implant Maker's Asset Auction

    Bankrupt breast implant maker MediCor Ltd. has won court approval to sell its assets and the assets of some of its nondebtor subsidiaries.

  • August 27, 2007

    AMS' Ch. 11 Plan Does Not Specify Creditor Recovery

    Liquidated book marketer Advanced Marketing Services Inc. has filed a Chapter 11 reorganization plan and accompanying disclosure statement that does not reveal how much unsecured creditors can expect to recover.

  • August 27, 2007

    Trustee Suspects W.R. Grace Accountant Of Fraud

    Bankruptcy court officials on Friday revealed that accounting firm L. Tersigni Consulting PC and its former owner Loreto Tersigni, will be under investigation for allegedly padding bills while advising claimants in the Chapter 11 case of W.R. Grace & Co. and other billion dollar asbestos-related bankruptcies.