New Cases

The Daily Docket: Creditors Question Hostess Pay

04/05/12

Creditors of Hostess Brands Inc. said in court papers the company may have “manipulated” its executives’ salaries higher in the months leading up to its Chapter 11 filing, in what the creditors called a possible effort by Hostess to “sidestep” Bankruptcy Code compensation provisions. Read the Daily Bankruptcy Review article via The Wall Street Journal.

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Burger Maker AFA Being Herded to the Auction Block

04/03/12
Associated Press
In this March 29 photo, Iowa Gov. Terry Branstad, left, and Nebraska Lt. Gov. Rick Sheehy hold a t-shirt supporting the so-called “pink slime” meat product.
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The Daily Docket: Pinnacle Enters Bankruptcy

04/02/12

In a news release, Pinnacle Airlines Corp. says that it and its subsidiaries have filed for Chapter 11 bankruptcy protection.

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The Daily Docket: Investigators Probe MF Global Account Transfer

03/30/12

According to The Wall Street Journal, investigators are probing whether a $175 million transfer from an MF Global Holdings Ltd. customer account three days before the firm’s bankruptcy may have run afoul of Securities and Exchange Commission and CME Group Inc. rules.

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The Daily Docket: Dodgers Sold for $2.15B

03/28/12

A group led by basketball star Magic Johnson won the Los Angeles Dodgers at a bankruptcy auction Tuesday, The Wall Street Journal reports.

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The Broke and the Beautiful: Lenny Dykstra Edition

03/09/12

This week on The Broke and the Beautiful, Lenny Dykstra gets prison time and the owners of the New York Mets must pay up. Also, a judge wants the Los Angeles Dodgers and Bryan Stow to settle their dispute.

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Consultant Enters Bankruptcy Fight Between Lehman, Swiss Unit

03/07/12
Getty Images

A former Department of Commerce official is weighing in on the legal dispute Lehman Brothers Holdings Inc.

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Cash-Strapped Florida Transit Workers Union Files for Bankruptcy

03/01/12

As a general rule, unions try avoid bankruptcy court—a place where airlines and other major corporations have used the court’s power to break pay promises they made to workers through collective-bargaining agreements.

But federal bankruptcy court is where one financially struggling Florida union took its financial troubles earlier this week.

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The Daily Docket: U.K. Court Backs Lehman U.S.

03/01/12

The U.K. Supreme Court said Wednesday that billions of dollars in client cash belongs to customers of Lehman Brothers Holdings Inc.’s U.S. brokerage whether it was properly segregated or not, a win for customers of Lehman’s U.S. unit and the trustee winding down the business. Read the Daily Bankruptcy Review article via The Wall Street Journal.

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Company That Sold Statue of Liberty Scraps Seeks Chapter 11

02/24/12
Getty Images

A Tennessee company that sold off chunks of the country’s most well-known symbol of freedom—the Statue of Liberty—has filed for bankruptcy protection after years of trying to make money selling t

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