News

Barclays entitled to $1.8bn related to Lehman bankruptcy, US judge rules - Daily Telegraph

06/05/12

The decision partially reversed a February 2011 ruling by US Bankruptcy Judge James Peck ... avert "an even greater economic calamity" outweighed any imperfections in the sale process. In her decision, Forrest said Barclays may recover about $1.5bn ...

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Vitro: Spanish unit to seek bankruptcy protection - Marketwatch

06/05/12

Vitro said Cristalglass, which has been running up losses since 2009, accounted for 4% of its total sales in 2011. The bankruptcy filing will represent a benefit of $10 million to $15 million in earnings before interest, taxes, depreciation and ...

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Vitro: Spanish unit to seek bankruptcy protection - Marketwatch

06/05/12

Vitro said Cristalglass, which has been running up losses since 2009, accounted for 4% of its total sales in 2011. The bankruptcy filing will represent a benefit of $10 million to $15 million in earnings before interest, taxes, depreciation and ...

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Bankruptcy Attorney Timothy S. Kingcade Receives ‘AV Preeminent’ Rating from Martindale-Hubbell - PRLog (free press release)

06/05/12

Attorney Kingcade practices exclusively in the field of bankruptcy law, handling Chapter 7 filings and foreclosure defense cases for the Southern District of Florida. As an experienced CPA as well as a proven bankruptcy attorney, Timothy Kingcade knows how ...

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Berkshire Hathaway Wants Examiner in ResCap Bankruptcy Case - Wall Street Journal

06/05/12

Warren Buffett's Berkshire Hathaway Inc. wants an independent examiner appointed in the bankruptcy case of Ally Financial Inc. mortgage subsidiary Residential Capital LLC. In a Monday night filing with U.S. Bankruptcy Court in Manhattan, lawyers for ...

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Garlock accuses asbestos attorneys of fraud - Legal News Line

06/05/12

More than 90 companies have declared bankruptcy from asbestos litigation, and more than 60 bankruptcy trusts have been established to pay out claims. The bankruptcy trust system operates independently from civil courts. "Garlock was an ideal target," the ...

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Alabama group wants $1.6 bln in bankruptcy case - Reuters

06/05/12

June 5 (Reuters) - Local politicians in Alabama's bankrupt Jefferson County are pressing a new $1.6 billion claim on behalf of 130,000 sewer system customers they say were cheated by corrupt county workers and Wall Street creditors. Working ...

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34 percent drop in Hawaii bankruptcies for May - Associated Press

06/05/12

HONOLULU (AP) — Hawaii bankruptcy filings last month saw the sharpest decline in more than five years. According to U.S. Bankruptcy Court data, there were 219 cases filed in Hawaii in May. That's a 34 percent drop from 334 cases filed in May a ...

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Ex-Raven Jamal Lewis' bankruptcy case postponed - Baltimore Sun

06/05/12

A court hearing on the status of former Baltimore Ravens running back Jamal Lewis' bankruptcy case was postponed in Atlanta on Tuesday amid signs that he would submit required financial records and meet with court officials. Lewis, who retired ...

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Berkshire Seeks Court Examiner to Probe ResCap Deals - Bloomberg

06/05/12

Berkshire would have paid almost nothing up front for the assets, while taking on potential liabilities such as mounting litigation costs and other claims, the people said. Buffett sought to avoid a ResCap bankruptcy filing because Berkshire had ...

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