Bankruptcy Blogs

Lehman Brothers Holdings Inc. has reached a $6.6 billion settlement with creditors for its second-largest foreign affiliate, talks broke down between Mets owner Fred Wilpon and the trustee who sued him in December to recover funds for Madoff victims and J.P. Morgan Chase & Co.

Fred Wilpon, the owner of the New York Mets, was a close friend of Bernie Madoff, and it has been generally believed since the outset of the scandal that Wilpon, his family and affiliated enterprises lost hundreds of millions in the great Ponzi scheme. It has also been known that the Wilpon group was a so-called “net winner”, as it had collectively withdrawn more over the years from

Whatever you do, don’t call Tribune Co.’s Don Liebentritt "Sam’s guy." That’s apparently a touchy subject for Tribune co-president Liebentritt, according to the flurry of activity on the docket of the media giant’s bankruptcy case.

Judge Robert Gerber late last week tossed out two lawsuits brought by South African groups who sought damages from General Motors’ bankruptcy estate in connection to what they said was the auto maker’s role in that country’s infamous system of apartheid.