Chapter 9

Restructuring Experts Balk At Muni Meltdown Prediction

11/28/11

Sorry, Meredith Whitney, but your prediction of hundreds of billions of dollars in municipal bond defaults will just not come to pass. So says a panel of restructuring experts, pointing to not only a lack of political will but also to legal hurdles for counties, cities and other municipal entities.

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The Daily Docket: MF Global Account Transfers Approved

11/18/11

A judge on Thursday approved the transfer of more than 22,000 MF Global Holdings Ltd. brokerage accounts to new dealers, granting an emergency request from the trustee unwinding the company’s brokerage. Read the Daily Bankruptcy Review article here.

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The Daily Docket: Tribune Faces Creditor Challenges

11/16/11

Tribune Co. is pushing to get out of bankruptcy fast but is battling challenges from major creditor camps to the rejection of a Chapter 11 plan, which the company says is easily repaired. Read the Daily Bankruptcy Review article here.

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The Daily Docket: Dynegy Bondholders Seek Examiner

11/14/11

The Wall Street Journal reports that a group of Dynegy Holdings’ bondholders want a judge to appoint someone to probe some “unusual” transactions leading to its bankruptcy filing.

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The Daily Docket: Lehman to Sell Neuberger Stake

11/11/11

Lehman Brothers Holdings Inc. will sell its 49% stake in asset manager Neuberger Berman to Neuberger’s employees for $1.5 billion, which would benefit Lehman’s creditors and put Neuberger on a path toward 100% employee ownership. Read the Daily Bankruptcy Review article here.

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The Daily Docket: Jefferson County Enters Bankruptcy

11/10/11

Alabama’s Jefferson County filed for Chapter 9 protection Wednesday evening with more than $3 billion in debt, the largest bankruptcy of its kind, The Wall Street Journal reports.

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The Daily Docket: Judge Slashes Dynegy Loan Money

11/09/11

A bankruptcy judge on Tuesday slashed the amount of money Dynegy Inc.’s holding company can immediately lend to four subsidiaries to keep the entities running during bankruptcy, in light of serious questions raised in court by Dynegy bondholders. Read the Daily Bankruptcy Review article here.

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The Daily Docket: Dynegy Holding Company Enters Bankruptcy

11/08/11

Dynegy Inc.’s holding company filed for Chapter 11 protection Monday night, The Wall Street Journal reports. The bankruptcy filing could cause bondholder losses without harming shareholders of the parent company.

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The Daily Docket: McCourt to Sell Dodgers

11/02/11

Los Angeles Dodgers owner Frank McCourt on Tuesday made a deal with Major League Baseball Tuesday to sell the team, the Associated Press reports.

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Pennsylvania Court Rules Against Distressed Munis

11/01/11

A Pennsylvania Supreme Court ruling, in a case dating back eight years, recently found that the city of Scranton, Pa., a distressed municipality under Pennsylvania law, must pay millions of dollars in back pay, benefits and interest to roughly 300 police and firefighters that the city had been denying as part of a financial recovery plan.

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