News

Morris, Kirkland, Mayer Brown, Vinson: Business of Law - Bloomberg

05/15/12

told the Wall Street Journal the firm is winding down but not planning to file for Chapter 11 bankruptcy. Crowell & Moring Adds Two Litigation Partners in New York Crowell & Moring LLP added two litigation partners to its New York office.

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Bankruptcy Judge Denies Hostess' Motion To Reject Teamster Contracts - YAHOO!

05/15/12

(Logo - http://photos.prnewswire.com/prnh/20100127/IBTLOGO) "We told our Hostess members all along that we would vigorously oppose the imposition of unjust working conditions since Hostess first filed bankruptcy and we have done just that," said ...

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Ally Financial says U.S. businesses not for sale - Marketwatch

05/15/12

NEW YORK (MarketWatch) -- The bankruptcy of Ally Financial Inc.'s troubled mortgage business and potential sales of its international units will put the auto lender on stronger footing, Ally executives said Tuesday, despite questions about the ...

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Ally Financial CEO Says US Businesses Not For Sale - NASDAQ

05/15/12

The mortgage unit, Residential Capital, filed for Chapter 11 bankruptcy Monday in Manhattan, paving the way for Ally to potentially rid itself of costly litigation and accelerate its repayment of a government bailout that topped $17 billion.

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Judge ruled to have acted properly in case involving Shawano religious group - Pierce County Herald

05/15/12

A federal judge in Minnesota said a bankruptcy judge acted properly in fining a lawyer who filed a court record with anti-Catholic slurs in a case involving a Shawano religious group. ST. PAUL - A federal judge in Minnesota said a bankruptcy ...

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Rochelle on Supreme Court, Paulson Resorts, Judgeships: Audio - Bloomberg

05/15/12

The U.S. Supreme Court used a bankruptcy case named Hall v. U.S. to rule, by a 5-4 vote, that the plain meaning derived from the interrelationship among several statutes takes precedence over the intent of Congress, as Bloomberg Law's Lee ...

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Confirmed: 5 of 7 TWU units approve AA's last offer, but not mechanics - Dallas Morning News (blog)

05/15/12

Five Out of Seven TWU Bargaining Units Vote to Accept American Airlines' Last Offer TWU's Lawyers Continue to Argue on Behalf of All Members in NYC Bankruptcy Court Today While Union Leadership Promotes Merger with US Airways as Best Option for American ...

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Morning Tech: LightSquared bankruptcy - Politico.com

05/15/12

LIGHTSQUARED BANKRUPTCY DETAILS --The company listed $4.48 billion worth ... "The debtors were thus faced with no option but to commence these Chapter 11 cases as the debtors believed the prepetition lenders would attempt to exercise remedies and sweep ...

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LightSquared pledges to push forward after bankruptcy filing - Washington Post

05/15/12

LightSquared said in its bankruptcy filing Monday ... a wide assortment of unsecured creditors of the firm including Boeing, which is owed $7 million and Alcatel Lucent, which is owed $7 million. Burson-Marsteller is still owed $264,000 and ...

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LightSquared pledges to push forward after bankruptcy filing - Washington Post

05/15/12

LightSquared said in its bankruptcy filing Monday, it will continue to try to win over the Federal Communications Commission to get its satellite venture up and running — a process that can take up to two years. The filing also provided a rare ...

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