Chapter 9

The chapter 9 bankruptcy case of the City of Detroit has been as complex and litigious as anticipated.  Nevertheless, Emergency Manager Kevyn Orr has kept plodding forward, and last week filed a proposed plan of adjustment, the road map for the Motor City to emerge from bankruptcy.  There are two key components to the plan.  The first is that it will seek to inflic

A judge on Monday said LightSquared could move forward with its $2.65 billion restructuring proposal over the strong objection of Dish Network Corp. Chairman Charlie Ergen, LightSquared’s largest secured creditor. Read the Daily Bankruptcy Review article here.

Creditors of Lehman Brothers Holdings Inc. will receive hundreds of millions of dollars from the estate of the bankrupt firm following a settlement with Freddie Mac. Read the Daily Bankruptcy Review article via The Wall Street Journal.

China’s Wanxiang Group won court approval Tuesday to take over failed luxury hybrid-car maker Fisker Automotive Inc. after successfully outbidding Hong Kong billionaire Richard Li in an auction. Read the Daily Bankruptcy Review article via The Wall Street Journal.

China’s Wanxiang Group emerged as the winning bidder Friday at a bankruptcy auction for the assets of Fisker Automotive Inc., according to sources familiar with the results of the competition. Read the Daily Bankruptcy Review article via The Wall Street Journal.