After its liquidation proposal was rejected, Corus Bankshares Inc., an Illinois holding company that had its primary asset–its bank–stripped from it nearly two years ago, reversed course and is poised to pitch creditors on a plan to emerge from ... Read full article
The Los Angeles Dodgers are demanding that Major League Baseball Commissioner Bud Selig and a slew of other officials submit testimony as part of the team’s Chapter 11 bankruptcy case. Read the Daily Bankruptcy Review story here . ... Read full article
Federal prosecutors say Lee Farkas should spend the rest of his life behind bars because the former chairman of mortgage lender Taylor, Bean & Whitaker Mortgage Corp. continues to deny responsibility for the devastation he wrought as the mastermind of ... Read full article
A judge on Wednesday gave Borders Group Inc. the go-ahead on an aggressive schedule that the bookseller hopes will result in a bidder for its remaining assets emerging by July 1 and a transaction closing by the end of July, as the bookseller looks to keep ... Read full article
W.R. Grace & Co. is seeking bankruptcy-court permission to compete at an auction for a “highly confidential potential strategic transaction” as it awaits the final word on its Chapter 11 exit plan. Read the Daily Bankruptcy Review story here . ... Read full article
Aurelius Capital Management, one of the big hedge funds accused of benefiting from insider trading in the bankruptcy case of Washington Mutual Inc., says it’s the victim of a “shakedown” by the committee representing aggrieved investors. Read the Daily ... Read full article
Las Vegas casino operator Station Casinos LLC on Friday emerged from Chapter 11 bankruptcy protection controlled by the company’s founding Fertitta family, ending a nearly two-year restructuring odyssey. Read the Daily Bankruptcy Review story here . ... Read full article
Unsecured creditors of Blockbuster Inc. are calling for the company’s bankruptcy case to be converted to a Chapter 7 liquidation from Chapter 11 unless significant changes are made to the movie-rental chain’s plans to sell itself to a group of senior ... Read full article
