Bankruptcy Blogs

A judge on Tuesday forced LightSquared to remove an independent director named to help oversee the sale of the Philip Falcone-controlled wireless satellite company, agreeing with lenders that her sour relationship with would-be buyer Dish Network Corp. could be interpreted as a conflict of interest. Read the Daily Bankruptcy Review article via The Wall Street Journal.

The GAO should focus on the gross benefit of being "too big to fail", not the benefit net of fines, penalties and regulatory burdens.

Perhaps not surprisingly, a federal government which lives beyond its means tragically encouraged American families to do the same.

Receiving Wide Coverage ...

Bigger Battles Ahead: The Times and the FT warn that JPMorgan Chase, which agreed last week to pay $1 billion to settle a range of government inquiries and investigations, may still have bigger battles ahead of it, including a potential lawsuit in California, where federal prosecutors are looking into details of mortgage securities sales conducted in the run-up to the financial crisis. The case is expected to come as soon as today,...

Bank lenders Monday officially ratcheted down the pressure on Overseas Shipholding Group Inc. after the tanker company unveiled financial projections that will be the basis for restructuring talks. Read the Daily Bankruptcy Review article here.