Chapter 9

The Stockton Saga Continues: Untouchable Pensions on the Chopping Block?

05/21/13

By Barbara Altimus Shreero

Judge Christopher M. Klein’s decision to accept the City of Stockton’s petition for bankruptcy on April 1, 2013 set the stage for a battle over whether public workers’ pensions can be reduced through municipal reorganization.

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The Daily Docket: Ally Reaches Deal to Settle Claims With ResCap

05/15/13

Ally Financial Inc. said Tuesday it reached an agreement with its mortgage subsidiary Residential Capital LLC that could help accelerate its efforts to get out from government ownership. Read the Daily Bankruptcy Review article here.

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The Daily Docket: Lenders Win ATP Auction

05/08/13

Secured lenders led by Credit Suisse AG have been declared winners of an auction for the oil and gas drilling assets of ATP Oil & Gas Corp. with an offer of $690.8 million, court papers say.

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The Daily Docket: ResCap Sues Bondholders

05/07/13

Residential Capital LLC is suing a group of junior bondholders to block them from wresting control of the subprime mortgage lender’s bankruptcy case. Read the Daily Bankruptcy Review article here.

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The Daily Docket: ResCap Creditors Want Company to Have More Time to Control Bankruptcy

05/03/13

Residential Capital LLC creditors want to give the company more time to control its bankruptcy case, Dow Jones Newswires reports.

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The Daily Docket: Kodak Reaches Deal to Hand Business to U.K. Retirees

04/29/13

Eastman Kodak Co. reached a deal to hand over its “personalized imaging” and “document imaging” businesses to U.K. retirees, The Wall Street Journal reports.

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The Daily Docket: Synagro Enters Bankruptcy

04/25/13

Waste processor Synagro Technologies Inc. filed for Chapter 11 bankruptcy protection Wednesday with an offer in hand to be acquired by an affiliate of Swedish private-equity firm EQT. Read the Daily Bankruptcy Review article here.

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The Daily Docket: Lehman Swiss Deal Doubles Some Recoveries

04/22/13
Agence France-Presse/Getty Images

Liquidators of the Swiss derivatives unit of Lehman Brothers Holdings Inc. said a recent settlement may double recoveries for the subsidiary’s creditors.

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Judge Rules In Favor Of Stockton And Accepts Chapter 9 Petition

04/09/13

By Danielle Kennedy

Round one of the fight between the City of Stockton, California and its creditors is finally over. On April 1, 2013, Bankruptcy Judge Christopher M. Klein held that Stockton satisfied the eligibility requirements for a Chapter 9 debtor.

Back on June 28, 2012, Stockton filed a petition seeking to adjust its debts under Chapter 9 of the United States Bankruptcy Code.

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