A U.S. federal judge refused Wednesday to enforce Mexican glassmaker Vitro SAB’s controversial debt restructuring in a closely watched bankruptcy case that threatened to sever the cross-border business cooperation between the two nations’ legal systems. Read the Daily Bankruptcy Review article here.
Former Boston Red Sox pitcher Curt Schilling’s videogame company, 38 Studios LLC, filed for Chapter 7 bankruptcy liquidation. Read the Daily Bankruptcy Review article via The Wall Street Journal.
A judge on Tuesday ruled largely for Barclays PLC in the bank’s ongoing dispute with the trustee unwinding Lehman Brothers Holdings Inc.’s brokerage stemming from Barclays’ 2008 purchase of the brokerage, a decision th
The Department of Justice’s point man for bankruptcy cases on Monday challenged attorneys’ resistance to his bid to ensure the “extraordinarily large” fees he says they charge are reasonable and warranted Read the Daily Bankruptcy Review story here.
The Justice Department has grown increasingly restless with attorney fees—often exceeding $1,000 an hour—paid by companies going through a bankruptcy reorganization.
Creditors of Pemco World Air Services Inc. are demanding that the company’s majority owner, private equity firm Sun Capital Partners Inc., pay back two years’ worth of management fees. Read the DBR Small Cap article here.
The U.S. Supreme Court affirmed Tuesday the right of lenders to use their debt as currency in bankruptcy auctions in a unanimous decision sure to reverberate through the corporate restructuring community. Read the Daily Bankruptcy Review article here.
