The fee auditor in the Federal-Mogul Corp. bankruptcy case has recommended that Sidley Austin LLP receive more than $8.3 million for its work as debtor’s counsel between May and July. However, the auditor also recommended a reduction of nearly $100,000 from the firm's fee application.
Bankrupt auto parts maker Delphi Corp. has emergence from Chapter 11 bankruptcy protection well within its sights, after a judge approved the amended equity purchase plan the company hammered out with a group of hedge funds and the company submitted a newly amended reorganization plan and disclosure statement.
Blackstone Group LP and two other financial powerhouses have won their battle to change the venue of a case accusing them of misrepresenting the value of bankrupt Winstar Communications prior to its sale to IDT Corp. for $42.5 million.
Midwest Air Group Inc., parent of Midwest Airlines, said Friday that its $450 million proposed acquisition by private equity group TPG Capital LP will not close until at least the end of January because the U.S. Department of Justice has asked for more time to consider the deal.
Lawyers argued on Monday that holding former EPA administrator Christine Todd Whitman liable for telling New Yorkers that the air was safe post-Sept. 11, 2001, would set a precedent that could scare government officials into keeping quiet rather than risk saying the wrong thing in the wake of future disasters.
After years of wrangling over Sept. 11, 2001, liability, American Airlines is asking a Manhattan court to approve a tentative settlement reached between the carrier and the family of one of the passengers on board the plane that terrorists slammed into the Pentagon.
After taking over $2.8 million of Goodyear Tire & Rubber Co.'s claims in Dana Corp.'s bankruptcy, Veyance Technologies Inc. has reached a deal with the beleaguered auto supplier to slash the amount owed by more than half.
The creditors committee in the New York Racing Association Inc.'s Chapter 11 case has joined NYRA in rallying against a roughly $18 million claim by a group that purportedly represents the interests of thoroughbred horsemen.
Biovail Corp., the largest pharmaceutical company in Canada, said Tuesday that it had settled a long-running class action securities lawsuit brought against it in the U.S. District Court for the Southern District of New York.
Bankrupt energy company Calpine Corp. will soon have another $144 million to pay off creditors, after a bankruptcy court approved the company's motion to liquidate certain senior note holdings.
Pharmaceutical company Novo Nordisk Inc. has reached a settlement in a patent dispute with rival drug maker Pfizer Inc. over the diabetes treatment Exubera, the company said in a statement released late Monday.
Lawyers for a former Credit Suisse Group investment banker facing trial on insider trading charges may call for the case to be thrown out after a Manhattan judge declared a mistrial on Tuesday.
A federal judge overseeing a wage-and-hour collective action against Delta Financial Corp. has denied the company’s request to appeal the court’s summary judgment order.
Patent-holding company Digital Technology Licensing LLC on Monday accused Motorola Inc., Sprint Nextel Corp., Verizon Wireless and T-Mobile USA Inc. of infringing one of its patents on signal encoding technology used in cell phones.
As Amaranth Advisors LLC faces off with the Federal Energy Regulatory Commission in a federal appellate court this week, a parallel dispute between a former Amaranth trader and FERC also looks like it is headed there.
A student loan consolidation company settled allegations Tuesday that it was involved in a revenue-sharing scheme to provide financial incentives to top universities, school athletic agreements and sports marketing firms in exchange for generating loan applications.
A dispute over $4.1 million in construction loans that pits First Charter Bank against bankrupt home lender HomeBanc Mortgage Corp. and JP Morgan Chase Bank has boiled over into an adversary proceeding in Homebanc's Chapter 11 case.
Rep. John D. Dingell (D-Mich.) voiced his support Wednesday for the Federal Energy Regulatory Commission in its turf war with the Commodity Futures Trading Commission over the enforcement of energy market manipulation, while the FERC chairman reasserted his agency's jurisdiction over alleged manipulator Amaranth Advisors LLC.
Madison Square Garden LP has reportedly agreed to pay $11.5 million to settle charges that it retaliated against a former executive after she accused New York Knicks head coach Isiah Thomas of sexual harassment.
As more investors and consumers seek to recover losses stemming from the subprime mortgage crisis, major class action firm Bernstein Litowitz Berger & Grossmann LLP has spearheaded a new practice group focusing on subprime litigation.