Law Firms

DOJ Slams Beacon Power Legal Tab, Bonuses

03/21/12
Associated Press
Blue flywheel battery pits are seen at Beacon Power in Stephentown, N.Y., on July 7, 2011.
[more]

Let’s Get Ready to Rumble!

03/13/12

It’s that time of year again for basketball, brackets and bankruptcy.

Weil, Gotshal & Manges LLP’s Bankruptcy Blog is hosting its second competition in honor of March Madness. But instead of college basketball teams, this bracket features 20 important Chapter 11 cases battling for the designation of the top bankruptcy of all time.

[more]

The Broke and the Beautiful: Kodak in the Rough Edition

03/02/12

This week on The Broke and the Beautiful, Kodak wants to reject an agreement with the PGA Tour and stars in Billy Crystal’s Oscars jokes. Also this week, Oscar winner Meryl Streep donates money to a school in Central Falls, R.I.

[more]

The Broke and the Beautiful: Busey Redux Edition

02/17/12

This week on The Broke and the Beautiful, Gary Busey’s assets are revealed. Also, Tionne “T-Boz” Watkins’s bankruptcy case has been dismissed, and Don Henley’s nonprofit group will return half of the donation it got from Ponzi-scheme operator Scott Rothstein.

[more]

The Daily Docket: Kodak Can Borrow on Loan

01/20/12

A judge on Thursday said Eastman Kodak Co. could begin borrowing on a $950 million loan from Citigroup Inc., which the iconic photography company hopes will keep it afloat as it restructures itself during Chapter 11 bankruptcy. Read the Daily Bankruptcy Review article here.

[more]

The Daily Docket: Kodak Enters Bankruptcy

01/19/12

Eastman Kodak Co. filed for Chapter 11 bankruptcy protection in New York early Thursday morning, The Wall Street Journal reports.

Kodak’s $950 million bankruptcy loan calls for the struggling company to lay out plans to auction its digital imaging patent portfolio by the end of June, court papers say. Read the Daily Bankruptcy Review article here.

[more]

The Daily Docket: Lehman Seeks To Lower Banks’ Loss Claims

01/17/12

Lehman Brothers Holdings Inc. is asking a bankruptcy judge to slash at least $35 billion from what some of Wall Street’s biggest banks claim they are still owed from the investment bank over losses tied to residential mortgage loans that Lehman packaged and sold to investors at the height of the housing bubble. Read the Daily Bankruptcy Review article here.

[more]

The Daily Docket: Hostess Can Borrow on Loan

01/13/12

A judge on Thursday said Hostess Brands Inc. could begin borrowing on a $75 million loan from a lender group led by Silver Point Capital LP one day after the maker of Twinkies and Wonder bread filed its second Chapter 11 bankruptcy case in less than eight years. Read the Daily Bankruptcy Review article here.

[more]

The Daily Docket: Ernst Seeks Dismissal of Lehman Suit

01/12/12

Ernst & Young is asking a federal judge to dismiss a lawsuit filed by the New York Attorney General accusing the accounting giant of helping Lehman Brothers Holdings Inc. disguise its financial condition while collecting more than $150 million in fees from the firm. Read the Daily Bankruptcy Review article here.

[more]

Weil Gotshal Looks Back at 2011

01/10/12

Last year was to bring a flat economy and continued real-estate distress, according to a survey of more than 100 restructuring professionals. Was 2011 all they imagined?

[more]