Bankruptcy Blogs

Before the first spectator set foot inside a courtroom for the city’s debut bankruptcy hearing Wednesday morning, the judge in charge of Detroit’s historic Chapter 9 case laid out some ground rule

Receiving Wide Coverage ... SAC Sacked: Federal prosecutors are expected to announce criminal charges this week against hedge-fund giant SAC Capital Advisors for alleged insider trading, the papers are reporting through anonymous sources. The Times says such a charge would likely be a "death blow" to the firm already saddled with government investigations, potentially causing trading partners like Goldman Sachs and Morgan Stanley to pull out. The papers also focused on the firm's founder, Steven A.…

More than two years after Howrey LLP’s dissolution and bankruptcy, the lawyers tasked with cleaning up the law firm’s messy demise are still picking up the pieces.

In a four-month span, bankruptcy trustee Allan Diamond has sued 16 of the 70 some law firms that hired some of the 200-plus partners who once practiced at Howrey. The lawsuits seek to claim Howrey’s share of the profits from the ongoing work the partners brought with them to their new firms. Any money recovered from the lawsuits will go the firm’s creditors. Let’s see where the litigation stands, shall we?

Securing an economically and fiscally sensible approach to housing finance reform is taking a backseat to entrenched political views on both sides of the aisle.

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