News

Detention center owner won't oppose bankruptcy - Atlanta Journal Constitution

05/11/12

The case is connected to $55 million in tax-exempt bonds Irwin ... But its bondholders blocked that by filing a petition in a federal bankruptcy court, claiming $54.1 million in bond debt. The bondholders filed court papers last month, accusing ...

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Future of S.J. landmarks unclear - Courier-Post

05/11/12

The Cherry Hill landmark, which plans to continue operations, filed in U.S. Bankruptcy Court on Wednesday — the same day it was scheduled to be auctioned at a sheriff’s sale, club president Irv Richter said in a letter to members.

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Congressman calls asbestos attorneys who contacted him 'parasites' - Legal News Line

05/11/12

House Resolution 4369 would require bankruptcy trusts, which were created by companies that went bankrupt from asbestos litigation, to disclose claims and exposure allegations while providing third-party discovery in civil lawsuits. The trust system ...

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Houghton Mifflin Harcourt to Restructure $3.1 Billion in Debt - Mediabistro.com

05/11/12

The plan includes “a prompt, court-supervised, chapter 11 process.” Here’s more from the company: “If approved by the requisite percentages and implemented as proposed, HMH will eliminate $3.1 billion of debt and reduce current annual cash interest ...

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California retailer Treasures Furniture in Chapter 11 - Furniture Today

05/11/12

SAN DIEGO — High-end retailer Treasures Furniture has filed for Chapter 11 bankruptcy protection, owing its largest creditors in the industry about $2.1 million. The retailer, led by CEO Alan Glass, with stores listed online in San Diego and Irvine, Calif.

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The Daily Docket: Publisher Houghton Mifflin to File for Bankruptcy - Wall Street Journal

05/11/12

Half a century after the first wave of lawsuits were filed for illnesses linked to exposure to asbestos, the asbestos-litigation business is booming, reports Reuters. Follow Bankruptcy Beat on Twitter.

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Judge rules on the limits of powers held by bankruptcy courts - SmartBrief

05/11/12

U.S. District Judge Jed Rakoff has ruled that bankruptcy judges can't make final decisions on claims of fraudulent transfers and unjust enrichment. The ruling came in a case involving the Refco litigation trust. Rakoff allowed the owners of the New York ...

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Bankruptcy does not prevent actions to collect assessments - Chicago Tribune

05/11/12

The bankruptcy filing of a unit owner does not prevent the ... The debtor must also pay assessments that accrue after the Chapter 13 filing. In a 2011 case titled In Re Spencer, a Michigan federal court held that the debtor was liable for ...

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Future of S.J. landmarks unlcear - Courier-Post

05/11/12

The Cherry Hill landmark, which plans to continue operations, filed in U.S. Bankruptcy Court on Wednesday — the same day it was scheduled to be auctioned at a sheriff’s sale, club president Irv Richter said in a letter to members.

[more]

McKool Smith Opens Silicon Valley Office - Yahoo Finance

05/11/12

In 2009, McKool Smith expanded into bankruptcy litigation with the opening of its Houston office. With the expansion into California, McKool Smith has solidified its national footprint from coast to coast.

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