This week on The Broke and the Beautiful, BottleRock is back from rock bottom, and Denis Leary is aiding Detroit firefighters. Also, an injured baseball fan is still looking for compensation from the Los Angeles Dodgers.
Eastman Music Co., which makes most of its instruments in China, bought a struggling trombone- and trumpet-maker based in Hopedale, Mass.—and that’s where the jobs are expected to stay.
Victims that lost money as a result of General Motors Co.’s ignition-switch problem could be forced to battle Old GM creditors for the remains of a trust that contains just more than $1 billion, accord
The U.S. Environmental Protection Agency has hit Exide Technologies with a notice of violation for air contamination at a California plant that serves as a cheap source of lead for its battery-making business. The Wall Street Journal has the Daily Bankruptcy Review article here.
Creditors have raised questions about what happened in the final days before Coldwater Creek handed over the keys to its 330-store chain to liquidators in bankruptcy. The Wall Street Journal has the Daily Bankruptcy Review article here.
A government bankruptcy watchdog wants the attorneys and advisers working on Freedom Industries Inc.’s Chapter 11 case to temporarily forgo some of their fees until it’s determined how much the company will need to pay to clean up the West Virginia chemical spill. Read the Daily Bankruptcy Review article here.
Senior lenders of a major Energy Future Holdings Corp. unit have moved to protect their claim to a $665 million early-payment premium, which was thrown into jeopardy when the company filed for bankruptcy protection. The Wall Street Journal has the Daily Bankruptcy Review article here.
Instead of focusing on the size and complexity of Lehman Brothers’ financial business, the lesson for officials dealing with the next big bank blowup is to separate the bank’s core operations from its finance subsidiaries, says law professor Stephen Lubben.
Investors owning $1.7 billion or more in top-ranking debt say a $7.3 billion piece of Energy Future Holdings Corp.’s financing plan is a flawed and “incoherent” attempt to evade bankruptcy rules. Read the Daily Bankruptcy Review article here.
