News

Creditors seek to slow RG Steel's rushed sale - Reuters

06/20/12

RG Steel, its lenders and unsecured lenders were urged to resolve the dispute over the sale schedule by Delaware Bankruptcy Judge Kevin Carey, who held an emergency telephone hearing on Wednesday. "We're all accustomed to a quick sale process.

[more]

Taxes & finance: Bankruptcy proceedings, chapter and verse - Willits News

06/20/12

Have you heard anyone say they are going Chapter 7? Most people have a vague notion that this is some sort of bankruptcy proceeding, but know little else. It actually refers to one of the chapters in the Federal Bankruptcy Code. The code was ...

[more]

Nokia's Last Line of Defense - MIT Technology Review

06/20/12

Whether it comes through licensing, sale, or litigation, patent-related cash flow could be vital if Nokia isn't to follow Nortel to bankruptcy court, says Alexander Poltorak, chief executive of a patent consultancy called General Patent in ...

[more]

Kodak Accuses Apple of Interfering in Patents Sale - PC World

06/20/12

It said that its planned sale of its Digital Capture Portfolio is an important element of the debtors' reorganization efforts. Apple has in bankruptcy proceedings laid claim to 10 of the patents in the Digital Capture portfolio citing its invention of the ...

[more]

Doug Stollery: PPP pioneer is litigator at heart - Financial Post

06/20/12

It’s been an interesting ride for the former bankruptcy and insolvency litigator who left ... reliant on precedents to drive corporate dealings. In the context of litigation, he said, the focus is on the process and “discovery of documents ...

[more]

United States: Court Dismisses Public Pension Fund's Bankruptcy Case - Mondaq

06/20/12

In our May 24 entry on this topic, the Northern Mariana Islands Retirement Fund (the "Fund") was battling numerous challenges to its Chapter 11 eligibility. The dispute revolved around whether the Fund, which provides benefits to government workers and ...

[more]

Top Courts in U.S. and Britain Enter the Madoff Fray - New York Times

06/20/12

The London litigation against Ms. Kohn and her co-defendants may prove crucial, since a related lawsuit that Mr. Picard filed against them in Manhattan is on shaky ground. It is one of hundreds of cases that were removed from bankruptcy court ...

[more]

United States: Trends In FDIC Professional Liability Litigation* (Insights And Projections Based On The FDIC's First 27 Suits) - Mondaq

06/20/12

In S&L litigation, the FDIC also recovered about $1 billion from Drexel Burnham Lambert, Inc.'s bankruptcy estate and from Michael Milken, the former head of Drexel's "junk bond" unit. These recoveries resolved claims of fraud including alleged ...

[more]

United States: Eleventh Circuit Upholds A Bankruptcy Court’s Exclusive Jurisdiction To Enforce Its Own Chapter 11 Discharge Injunctions - Mondaq

06/20/12

The defendants then filed a "complaint" in the United States Bankruptcy Court for the Southern District of Florida seeking a declaration that the class action plaintiffs' claims had been discharged in the chapter 11 case.  The class action plaintiffs in ...

[more]

Does Bankruptcy Still Carry a Stigma? - credit.com

06/20/12

Kleinberg filed for both personal and business bankruptcy in 2009 after finding herself tapped out of cash and with more than $100,000 in business and personal credit card debt. That was in addition to a home equity line of credit that had maxed out at $ ...

[more]