News

Madoff trustee seeks to pay up to $2.4 billion to victims - Reuters

07/26/12

A large chunk of the recoveries have been put in reserve because of litigation with victims who contend they are owed more. The requested payout requires approval by U.S. Bankruptcy Judge Burton Lifland in Manhattan. Picard said part of the ...

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Lehman Cash Flows May Reach $40.5 Billion, Firm Says - Bloomberg

07/26/12

Its new cash flow estimates include $7.6 billion of payments by affiliates that it doesn’t control, and $1.1 billion collected from litigation, it said in a filing in U.S. Bankruptcy Court in Manhattan. “Material uncertainties continue to ...

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Apple Seeks to Move Kodak Patent Case Out of Bankruptcy Court - Bloomberg

07/26/12

Apple Inc., which is fighting Eastman Kodak Co. (EKDKQ) over ownership of patents, argued a federal judge should transfer a Kodak lawsuit against the iPhone-maker out of bankruptcy court. Apple told U.S. District Judge George Daniels at a court ...

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Bankruptcy judge delays decision on $5.3M bonuses for top executives at Hawker Beechcraft - Minneapolis Star Tribune

07/26/12

Both have filed formal objections with the bankruptcy court, and the union said Thursday it has no plans to back down. "This case needs to be about what is best for Hawker Beechcraft, its employees and the city of Wichita — not what is best ...

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Apple Seeks to Move Kodak Patent Case Out of Bankruptcy Court - Businessweek

07/26/12

Apple Inc., which is fighting Eastman Kodak Co. (EKDKQ) (EKDKQ) over ownership of patents, argued a federal judge should transfer a Kodak lawsuit against the iPhone-maker out of bankruptcy court. Apple told U.S. District Judge George Daniels at ...

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Shooters will Remain Open, Despite Chapter 7 Bankruptcy - Broward New Times (blog)

07/26/12

Back in March of 2012, two companies associated with waterfront restaurant Shooters filed Chapter 11 bankruptcy. According to the South Florida Business Journal, Roscoe,LLC (DBA Shooters) and BIMA, LLC filed for bankruptcy protection following a $10.5 ...

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Exclusive: California city could face SEC lawsuit - Reuters

07/26/12

The Victorville city council was told by its attorney last week that it faced "significant exposure to litigation" relating to a little ... cities have filed or said they would file for bankruptcy since June 28, when Stockton filed for Chapter ...

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AMR Bond Ascension Points to Eventual US Airways Merger - Bloomberg

07/26/12

It’s worth more only on the idea that someone else will buy it.” AMR sought Chapter 11 in November after three consecutive years of losses and sitting out a round of industry consolidation that saw American fall to third place in the U.S ...

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Romney’s claims of misspent stimulus money - Washington Post

07/26/12

A typical Chapter 11 allows corporations to default on pension obligations, so the union workers probably wouldn’t have made out so well without the federal government’s involvement in restructuring. Windmills from China Most of the ongoing ...

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On the move: Luckie & Co., Jonathan Grayson, Dan M. Silverboard and more - Everything Alabama Blog

07/26/12

Grayson joins both the Creditors Rights & Bankruptcy and the Financial Institutions & Financial Services Regulation Practice Groups. He represents clients in all phases of commercial litigation, loan workouts, securing collateral, post-judgment ...

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