News

Strauss Discount Auto files for bankruptcy, closes all stores - LehighValleyLive.com

06/06/12

It marks the third bankruptcy filing for Strauss in six years ... Inc., said it will file papers “in the next several days” to set up auction and sale procedures, according to Bloomberg. The newest petition lists assets and debt both ...

[more]

Strauss Discount Auto, based in East Hanover, enters bankruptcy again - NJ.com

06/06/12

The bankruptcy before that began in August 2006. The new case is 155 Route 10 Associates Inc., 12-24414, U.S. Bankruptcy Court, District of New Jersey (Newark). The prior case is In re Autobacs Strauss Inc., 09-10358, U.S. Bankruptcy Court ...

[more]

Bankruptcy Fees: The $1,800-an-Hour Ted Olson Edition - Wall Street Journal

06/06/12

Court filings in bankruptcy cases provide a rare glimpse at how much top lawyers charge for their services — prices that regularly exceed $1,000 an hour, to the dismay of some at the Justice Department who want firms that work on big ...

[more]

Trademark snafu hits Filene’s Basement, Brides sale - Boston Herald

06/06/12

Macy’s bankruptcy attorney Charles Tatelbaum confirmed the Basement trademark has been withdrawn from the sale, but declined further comment. “There are other assets that are likely to be auctioned off, but the Filene’s Basement trademark has several issues

[more]

May Bankruptcy Filings Fall 11 Percent from 2011, But Up Slightly from April - InsideARM

06/06/12

Patrick Lunsford June 6, 2012 (Be the first to respond) http://www.insidearm.com/daily/economic-news/bankruptcy/may-bankruptcy-f... Total bankruptcy filings in the United States in May 2012 decreased ...

[more]

Top Nevada court asked to weigh in on Fontainebleau lien dispute [Las Vegas Sun] - Businessweek

06/06/12

Because of disputes in the $2.9 billion Fontainebleau Las Vegas bankruptcy case in Florida over which group has rights to the money, the bankruptcy judge there asked the Nevada high court to weigh in on the issue. While $100 million is a lot of ...

[more]

Supreme Court Upholds Secured Creditor’s Right to Credit Bid in a Bankruptcy Case - jdsupra.com

06/06/12

v. Amalgamated Bank, 566 U.S.___ (May 29, 2012), the Court found the case an "easy" one to resolve: when a secured creditor is denied the right to credit bid its debt in the sale of its collateral as a part of a bankruptcy plan, it will not receive the ...

[more]

Stockton officials ready bankruptcy plan - San Jose Mercury News

06/06/12

STOCKTON -- A California city that has the second-highest foreclosure rate in the nation is preparing for a possible bankruptcy filing if officials are unable to broker a deal with the city's creditors. Stockton would become the nation's largest ...

[more]

The Daily Docket: Barclays Favored in Lehman Trustee Dispute - Wall Street Journal

06/06/12

Warren Buffett’s Berkshire Hathaway Inc. wants an independent examiner appointed in the bankruptcy case of Ally Financial Inc. mortgage subsidiary Residential Capital LLC. Read the DBR article via The Wall Street Journal. Reuters reports on ...

[more]

Stockton Empowers Manager to Put City Into Bankruptcy - Bloomberg

06/06/12

The Stockton, California, City Council voted to authorize a bankruptcy filing as soon as June 26 if officials ... soaring costs for pensions and retiree health benefits while sales and property-tax revenue plummeted after the longest recession ...

[more]