Bankruptcy Trends

The Daily Docket: Ernst Seeks Dismissal of Lehman Suit

01/12/12

Ernst & Young is asking a federal judge to dismiss a lawsuit filed by the New York Attorney General accusing the accounting giant of helping Lehman Brothers Holdings Inc. disguise its financial condition while collecting more than $150 million in fees from the firm. Read the Daily Bankruptcy Review article here.

[more]

Weil Gotshal Looks Back at 2011

01/10/12

Last year was to bring a flat economy and continued real-estate distress, according to a survey of more than 100 restructuring professionals. Was 2011 all they imagined?

[more]

The Daily Docket: AES Eastern Enters Bankruptcy

01/03/12

Debt-laden electric power company AES Eastern Energy LP filed for Chapter 11 bankruptcy with a plan to sell its two upstate New York coal-fired power plants. Read the Daily Bankruptcy Review article via The Wall Street Journal.

[more]

The Daily Docket: Supreme Court to Weigh Credit Bidding

12/13/11

The U.S. Supreme Court has opted to weigh in on one of the hottest topics in bankruptcy: whether lenders have the right to use debt as currency in bankruptcy auctions. Read the Daily Bankruptcy Review article here.

[more]

The Daily Docket: Lehman Europe Angered By Trustee

11/03/11

Lehman Brothers Holdings Inc.’s European affiliate is angry at a move by the trustee unwinding Lehman’s U.S. brokerage to block European creditors from recovering more than $8 billion, a dispute that could augur what’s in store for customers of MF Global Holdings Ltd.’s brokerage. Read the Daily Bankruptcy Review article here.

[more]

The Daily Docket: Lehman Closer to Chapter 11 Plan Approval

10/27/11

Lehman Brothers Holdings Inc. said recent settlements with a number of its far-flung foreign affiliates have put the failed investment bank on track to win approval of its plan to exit bankruptcy by the end of the year. Read the Daily Bankruptcy Review article here.

[more]

GAO Releases Asbestos Trusts Report, Identifies Possibility for Fraud

10/21/11

The possibility for fraud exists within the system of trusts set up by bankruptcy courts to deal with asbestos personal injury claims, although claims were down slightly in 2010 compared to the prior year, according to a new government report.

[more]

The Daily Docket: Judge Inclined to Reject Dodgers Probe Request

10/06/11

A bankruptcy judge Wednesday said he is inclined to turn down a bid by the Los Angeles Dodgers to probe Major League Baseball’s dealings with other MLB members for proof Commissioner Bud Selig is treating the ball club unfairly. Read the Daily Bankruptcy Review article here.

[more]

The Daily Docket: Graceway Enters Bankruptcy

09/29/11

Graceway Pharmaceuticals LLC filed for Chapter 11 bankruptcy protection Thursday, one day after announcing its plans to seek a sale of its assets to Galderma S.A. Read the Daily Bankruptcy Review article here.

[more]

Restructuring Opportunities in Some Sectors, a Wait for Most Others

09/28/11

With default rates and bankruptcy filings earnestly sticking near their all-time lows but loads of debt coming due very soon, finding distressed opportunities is a two-pronged game of waiting while still identifying sectors that need help now, three industry veterans said Wednesday.

[more]