News

Ally's ResCap Sale May Pave the Way for IPO - TheStreet.com

05/08/12

The New York Post reports that taxpayer-owned Ally Bank will put ResCap into a pre-packaged bankruptcy, paving the way for Fortress's $ 2 billion bid for the troubled mortgage lending unit and another $1 billion for a $130 billion mortgage ...

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The Daily Docket: Ala. Law Complicates Jefferson County’s Restructuring - Wall Street Journal

05/08/12

(Daily Bankruptcy Review and DBR Small Cap are daily newsletters ... of the beef known as “pink slime,” will close three of its four plants after sales dropped and didn’t recover, Reuters reports. New research is suggesting “vulture ...

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California Lawmaker Pushes New Municipal Bankruptcy Limit - Bloomberg

05/08/12

Johnston said it would “dramatically” increase the chances of drawn-out mediation, in some cases forcing cities to file for bankruptcy. Carrigg, in a telephone interview, said unions support restrictions on bankruptcy filings because some ...

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Ally's ResCap Deal May Pave the Way for Sale, IPO - Inside Fidelity

05/08/12

NEW YORK (TheStreet (Symbol : TST)) -- Ally Bank may be close to selling its Residential Capital mortgage unit to Fortress Investment Group (Symbol : FIG) as part of a $3 billion bankruptcy sale. The New York Post reports that taxpayer-owned Ally Bank will ...

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Six Months Into Alabama County Bankruptcy, Services Fray - Bloomberg

05/08/12

Jefferson filed for bankruptcy in November after lawmakers failed to deliver ... At night, four men sleep in 10-by-7 foot cells built for one. “That’s my mat and that’s my space there,” said Terry Joe Allen, 32, who was in jail for ...

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Six Months Into Alabama County Bankruptcy, Services Fray - Bloomberg

05/08/12

Jefferson filed for bankruptcy in November after lawmakers failed to deliver ... At night, four men sleep in 10-by-7 foot cells built for one. “That’s my mat and that’s my space there,” said Terry Joe Allen, 32, who was in jail for ...

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Las Vegas developer lists over $500 million in debt in bankruptcy filing [Las Vegas Sun] - Businessweek

05/08/12

May 08--Las Vegas developer Bill Plise revealed in Bankruptcy Court on Monday he's in debt to the tune of a staggering $506.5 million, while his assets are valued at just $4,738. Plise filed for personal Chapter 7 bankruptcy protection on April 23.

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Rust Omni Hires Mitch Ryan and Nellwyn Voorhies-Kantak - YAHOO!

05/08/12

the bankruptcy administrative services division of Rust Consulting, Inc., a SourceHOV company, today announced the hirings of Mitch Ryan and Nellwyn Voorhies-Kantak, Esq., as vice presidents of sales and marketing. "I am very excited that Mitch ...

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American seeks more global flights, US codeshares - Reuters

05/08/12

(Reuters) - American Airlines, which is being eyed by rival US Airways Group for possible takeover, plans to boost international flying and increase U.S. codeshares under a plan to emerge from Chapter 11 bankruptcy protection. American parent ...

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United States: Asset Sales In Bankruptcy: An Important Decision - Mondaq

05/08/12

Bankruptcy Judge Stuart M. Bernstein ruled against Morgan ... A district court case decided last month shows how a company’s email retention and litigation hold policies can affect claims of spoliation by adverse parties in litigation.

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