Bankruptcy Blogs

Receiving Wide Coverage ...

Low Energy: The fizzling energy market will get a lot of attention this earnings season as nervous shareholders question banks about their exposure, according to the New York Times. The paper suggests banks gird themselves for defaults in the wake of falling oil prices. On the upside, Wells Fargo chief John Stumpf says lower oil prices are a boon for consumer lending: people who spend less at the gas pump will have...

In the Egenix bankruptcy proceeding, a formation meeting has been scheduled for Thursday, January 22, 2015 at 10:00 a.m. (ET) at the J. Caleb Boggs Federal Court House, 844 N. King Street, Fifth Fl., Room 5109, Wilmington, DE 19801.  Click here for a copy of the Notice of Formation Meeting for Official Committee of Unsecured Creditors issued by the Office of the United States Trustee.

This week on The Broke and the Beautiful, “Real Housewives of New Jersey” star Teresa Giudice surrendered to prison officials, and slashed the sale price for her mansion. Also, a complaint against Paul Simon seeking $17,000 was dropped.

LightSquared on Thursday will ask a New York bankruptcy judge to sign off on a version of its restructuring strategy, which, if approved, will be send out to creditors for a vote.

Last month, LightSquared filed the latest of its restructuring proposals, one that includes Harbinger Capital Partners’ Philip Falcone but proposes to give control of the company to others, including Fortress Investment Group LLC and Centerbridge Partners LP.

Struggling teen retailer Wet Seal Inc.