Bankruptcy Blogs

A government bankruptcy watchdog wants to ensure the claims trading industry doesn’t profit from the confusion of hundreds of people who have already lost money with New Life International, a Tennessee nonprofit that collapsed last year after investing money from charitable gift annuities.

After reaching an agreement with unsecured creditors, Fisker Automotive Inc. will move forward with its bankruptcy-exit plan on Monday, when it will ask the court to approve the plain-language outline of that plan.

The agreement with creditors, reached earlier this week on the terms of a cash-sharing plan, headed off the threat of a major clash during the hearing. An approval from Judge Kevin Gross of the U.S Bankruptcy Court in Wilmington, Del., would allow Fisker to begin soliciting votes on the plan from creditors ahead of requesting final exit-plan approval.

Energy Future Holdings Corp. launched a crucial hearing on financing its $42 billion bankruptcy by announcing it had reached an accord with some key critics and by winning final approval of a $4.475 billion loan. The Wall Street Journal has the Daily Bankruptcy Review article here.

In the 5 1/2 years since attorney Sheila Gowan began liquidating Marc Dreier’s former law firm, she’s collected $79 million to help repay the de