Hedge Funds

In liquidation, Lehman Brothers Holdings Inc. is overdelivering, The Wall Street Journal reports.

A judge on Monday said LightSquared could move forward with its $2.65 billion restructuring proposal over the strong objection of Dish Network Corp. Chairman Charlie Ergen, LightSquared’s largest secured creditor. Read the Daily Bankruptcy Review article here.

Dish Network Corp. Chairman Charlie Ergen is again fighting with a group of hedge funds that hold LightSquared’s bank debt, this time over which side should be providing a short-term bankruptcy loan to keep LightSquared afloat. Read the Daily Bankruptcy Review article via The Wall Street Journal.

A federal judge says corporate bankruptcy lawyers and advisers to err on the side of transparency when seeking court approval for the “handsome” fees they charge their clients.

A kerfuffle over professional fees in the bankruptcy case of investment firm GSC Group Inc. prompted last week’s strongly-worded ruling from Judge Shelley C. Chapman of the U.S. Bankruptcy Court in Manhattan.

A judge ruled that Detroit was eligible for Chapter 9 bankruptcy protection, The Wall Street Journal reports.

Several former Dewey & LeBoeuf LLP partners face lawsuits demanding nearly $10 million, part of a continuing quest to recover the tens of millions of dollars attorneys received before the law firm’s demise. Read the Daily Bankruptcy Review article here.