Bankruptcy Trends

Attorneys working to settle litigation over a deadly fungal meningitis outbreak say they hope to finalize a tentative $100 million-plus deal and present it for court approval in the next two months.

At a Friday afternoon hearing, attorney Michael Gottfried told the U.S. District Court in Boston that “substantial progress is being made” toward finalizing a settlement.

Dish Network Corp.’s  proposed deal to buy LightSquared’s wireless spectrum assets is on the verge of falling apart, a lawyer for LightSquared’s lenders said in bankruptcy court Tuesday. Read the Daily Bankruptcy Review via The Wall Street Journal.

It’s nearly impossible to cancel your student loan debt in bankruptcy.

Fewer than 1,000 people try each year. Those who do are required to file a lawsuit against their lenders and then convince a bankruptcy judge that they’re so poor there’s no hope of ever repaying the loans.

Phil Falcone and LightSquared urged a bankruptcy judge to reject a plan to sell the company’s wireless spectrum assets to Charlie Ergen’s Dish Network Corp., a deal they say is inferior to LightSquared’s proposal to reorganize on its own. Read the Daily Bankruptcy Review article via The Wall Street Journal.