Chapter 9

Bond Insurer Says JeffCo Shouldn’t Block J.P. Morgan Suit

02/24/12

A municipal bond insurer that guaranteed sewer debt issued by Jefferson County, Ala., is accusing J.P. Morgan Chase & Co. of unfairly using the county’s bankruptcy case to block the progress of the bond insurer’s own fight against the bank in New York state court. Read the Daily Bankruptcy Review article here.

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The Daily Docket: No MF Global Customer Money Found at J.P. Morgan

02/21/12

Louis Freeh, the bankruptcy trustee overseeing MF Global Holdings Ltd.’s Chapter 11 case, says a forensic analysis has determined none of the estimated $1.6 billion in missing customer cash ended up in the company’s account at J.P. Morgan Chase & Co. Read the Daily Bankruptcy Review story here.

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The Daily Docket: Kodak Can Keep Borrowing On Loan

02/16/12

A judge on Wednesday said Eastman Kodak Co. could continue borrowing on its $950 million bankruptcy loan from Citigroup Inc., after satisfying several parties’ concerns with it. Read the Daily Bankruptcy Review article here.

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Inmates Seek to Advance Lawsuit Against Jefferson County

02/08/12
Bloomberg News
Three inmates share a cell designed for one person at the Jefferson County Jail in Birmingham on Oct.
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Summertime Bankruptcy for Harrisburg?

02/06/12
Associated Press
The Harrisburg, Pa., incinerator

Harrisburg’s chances to sort out its debt in bankruptcy court seemed to have finally run out last week w

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The Broke and the Beautiful: Save the Twinkie! Edition

01/20/12

This week on The Broke and the Beautiful, Wendy Williams does her part to keep Twinkies alive, and boy-band mogul Lou Pearlman’s trustee must be feeling larger than life. Also this week, Jefferson, County, Ala., scores a run against J.P. Morgan Chase & Co. on its dealings with Houston Astros owner Jim Crane.

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Houston Astros Owner Mucked Up in JeffCo Bankruptcy

01/20/12
Associated Press
Jim Crane

Stuck at the unfortunate end of the debt-clogged sewer system of Jefferson County, Ala., you’ll find Houston Astros owner Jim Crane.

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The Daily Docket: Kodak Enters Bankruptcy

01/19/12

Eastman Kodak Co. filed for Chapter 11 bankruptcy protection in New York early Thursday morning, The Wall Street Journal reports.

Kodak’s $950 million bankruptcy loan calls for the struggling company to lay out plans to auction its digital imaging patent portfolio by the end of June, court papers say. Read the Daily Bankruptcy Review article here.

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The Daily Docket: FDIC Says BofA Owes Colonial $900M

01/18/12

The Federal Deposit Insurance Corp. says Bank of America Corp. owes the failed Colonial Bank $900 million for losses suffered when Colonial collapsed in the wreckage of Taylor Bean & Whitaker Mortgage Corp.’s multibillion-dollar bank fraud. Read the Daily Bankruptcy Review article here.

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The Daily Docket: Lehman Australia Seeks Bankruptcy

01/10/12

Lehman Brothers Holdings Inc.’s Australian subsidiary is seeking bankruptcy protection under U.S. law and said its assets could include $1.3 billion to cover investors’ losses tied to synthetic collateralized-debt obligations. Read the Daily Bankruptcy Review article here.

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