News Topic: Current Affairs

Thank you to the Hon. Scott Clarkson for giving us the lead on the following informative article from the U.S. Courts website: "Bankruptcy cases filed in federal courts for fiscal year 2011, the 12-month period ending September 30, 2011, totaled... ... Read full article

Bankruptcy e-Bulletin November 7, 2011 Dear Insolvency Law Committee Constituency List members: The purpose of this eBulletin is to provide information about the Office of the United States Trustee – Central District of California – Region 16’s recent ... Read full article

"Beacon Power Corp filed for bankruptcy on Sunday, just a year after the energy storage company received a $43 million loan guarantee from a controversial Department of Energy program." Read more here. ... Read full article

"MF Global, a trader in commodities and derivatives brought down by bad bets on Europe, filed for bankruptcy protection on Monday, leaving behind more than $2 billion in debt to some of Wall Street's biggest players. The fate of MF... ... Read full article

"Harrisburg, Pennsylvania’s capital, plans to auction off more than 8,000 relics ranging from 1900s- era rifles to wooden wagons that were meant to be part of a Wild West museum in the bankrupt city in the Northeast. Representatives of 10... ... Read full article

"The Crystal Cathedral has endorsed selling its sprawling campus to a university as part of a bankruptcy reorganization plan, church officials said Wednesday. The church's board of directors has backed Chapman University's offer to buy the ... Read full article

"Dodgers owner Frank McCourt looted nearly $190 million from the Los Angeles team, using the money for non-baseball use in violation of Major League Baseball rules, according to Delaware bankruptcy court documents filed on Monday.... It's the ... Read full article

"The former owner of the Sioux Falls Storm and the now closed Ground Round restaurant appeared in Federal Bankruptcy Court this afternoon. Creditors have filed a petition for involuntary Chapter 7 bankruptcy against Kent Vucurevich." Read more ... Read full article

"Southern Montana Electric Generation & Transmission Cooperative Inc., a provider of electrical power to utility cooperatives in Montana, filed for bankruptcy protection. The company listed assets and debt in the range of $100 million to $500 ... Read full article

"Irving Picard, the trustee seeking money for victims of Bernard Madoff's fraud, and his law firm were awarded another $45.3 million of fees by the judge overseeing the liquidation of the imprisoned Ponzi schemer's investment advisory firm. ... Read full article

"The face value of U.S. bankruptcy claims traded in September was the highest since July 2010, according to a report released on Wednesday. The value of claims traded in September doubled from August to $4.52 billion, according to SecondMarket, ... Read full article

"A bipartisan bill sponsored by leaders of the House Judiciary Committee may strip Delaware of its status as the premier venue for U.S. bankruptcy cases, costing the state’s economy an estimated $100 million a year. Lamar Smith, the Texas ... Read full article

"Seeking to stave off a state takeover of its beleaguered budget, the city of Harrisburg, Pa., filed for a rare Chapter 9 municipal bankruptcy on Wednesday. Harrisburg, the Pennsylvania capital that previously defaulted on its debt, cited a ... Read full article

"Former Texas Rangers star Rafael Palmeiro has asked creditors in his real estate bankruptcy case for five years to sell nearly 200 acres of land in Grapevine near Grapevine Mills mall." Read more here. ... Read full article

"Los Angeles Dodgers will be allowed to continue to use its lawyers to represent it in its bankruptcy petition, a day after the Major League Baseball withdrew a motion to disqualify the team's lawyers. In court papers filed with a... ... Read full article

"Innkeepers USA Trust will try to persuade a judge to force would-be buyers to proceed with their planned $1.12 billion acquisition of some of its hotels as a trial begins on Monday in a U.S. bankruptcy court. Innkeepers, the bankrupt... ... Read full article

"The Dodgers failed again Wednesday to convince U.S. Bankruptcy Judge Kevin Gross that they need documents about other Major League Baseball teams." Read more here. ... Read full article

"The owner of Mexican restaurant chains Chevys Fresh Mex, El Torito and Acapulco filed for bankruptcy Tuesday, pressured by years of slipping sales and the country’s economic malaise, executives said. Cypress-based RM Restaurant Holding Corp. said its ... Read full article