fees

Judge Kevin Gross of the U.S. Bankruptcy Court for the District of Delaware handed down an important ruling last week that turned aside most of an unusual challenge to the fees and expenses of an indenture trustee in the long-running Nortel chapter 11 case.  The dispute has been watched closely by financial institutions that serve as trustees on bond issuances.  (Kelley Drye & Warren LLP represented a large creditor in the Nortel case but took no part in the issues discussed here).

Companies seeking the fresh start of bankruptcy aren’t the only ones that have to contend with the transparency that is at the heart of chapter 11.

Colt Defense LLC is looking for approval of a deal that would let it access $50 million once it leaves bankruptcy, Daily Bankruptcy Review reports.

The country’s bankruptcy courts are holding onto money for people who don’t realize it’s theirs.