News

Eastman Kodak files for auction of Digital Imaging patents - msnbc.com

06/11/12

Kodak's motion outlines a sale process such that only the winning bidder and the successful bid amount will be publicly announced at the end of the auction, it said in a statement. Kodak, now in bankruptcy, expects the motion to be heard by the Court on ...

[more]

Judge: Philly orchestra can leave bankruptcy soon - Philadelphia Daily News

06/11/12

and the notoriety of the case suggests that interested parties are already aware of the situation. Ballots approving or objecting to the plan are due back from creditors two days before that. The orchestra's chief bankruptcy lawyer, Lawrence ...

[more]

Philadelphia Orchestra to make expedited exit from bankruptcy - Philadelphia Daily News

06/11/12

The judge, after reviewing a list of procedural concerns, said he was approving the quicker-than-usual schedule in recognition of the case's notoriety, suggesting that any interested parties were already aware of the bankruptcy. Ballots ...

[more]

Eastman Kodak files for auction of Digital Imaging patents - msnbc.com

06/11/12

(Reuters) - Eastman Kodak Co filed a motion on Monday seeking approval of bidding procedures for bankruptcy auction of its Digital Capture and Kodak imaging Systems and Services patent portfolios, which together comprise more than 1,100 patents. Kodak's ...

[more]

UPDATE: Berkshire Proposes Buying ResCap Assets in Bankruptcy - NASDAQ

06/11/12

Looming bond payments and mounting litigation over soured mortgage securities prompted ResCap to file for Chapter 11 bankruptcy on May 14 in a move intended to help Ally sever itself from legal exposure. As part of the filing, ResCap proposed ...

[more]

Berkshire Offers to Buy ResCap Assets - New York Times

06/11/12

In a filing in Manhattan bankruptcy court, Berkshire essentially offered to ... By shedding ResCap, Ally is hoping to clear the path to an eventual initial public offering or sale to repay its taxpayer bailout. The Treasury Department, which ...

[more]

Philadelphia Orchestra to make expedited exit from bankruptcy - Philadelphia Daily News

06/11/12

McMichael, the orchestra's chief bankruptcy lawyer, said he expected no objections. Frank said he agreed with the orchestra's argument that there was little reason to believe that "any major dissident faction" would surface. The orchestra filed ...

[more]

Berkshire Seeks to Buy Rescap’s Mortgage Unit - Businessweek

06/11/12

Under a proposed sale agreement with ResCap, Fortress would be the initial bidder at an auction overseen by the bankruptcy court. Should Fortress lose the auction, it would be entitled to a $72 million breakup fee and $10 million in expense ...

[more]

Philadelphia Orchestra to make expedited exit from bankruptcy - Philadelphia Daily News

06/11/12

McMichael, the orchestra's chief bankruptcy lawyer, said he expected no objections. Frank said he agreed with the orchestra's argument that there was little reason to believe that "any major dissident faction" would surface. The orchestra filed ...

[more]

Bankruptcy Judges Can’t Hear Madoff Suits, Defendants Say - Businessweek

06/11/12

Rakoff ruled in May, in a case involving the Refco litigation trust, that bankruptcy judges don’t have power to make final rulings on claims for fraudulent transfers and unjust enrichment. His law clerk sent the decision, which cited a U.S ...

[more]