News

Dewey & LeBoeuf Approaches Deadline on $75 Million Bank Debt - Bloomberg

04/27/12

The group includes Martin Bienenstock, who runs the firm’s restructuring group; Rich Shutran, head of the corporate department; Jeffrey Kessler, head of litigation ... weighing a so-called pre-packaged bankruptcy, a person familiar with ...

[more]

Betsey Johnson LLC files for Chapter 11 bankruptcy - msnbc.com

04/27/12

The case is: Betsey Johnson LLC, Case No.12-11732, U.S. Bankruptcy Court, Southern District of New York. (Reporting by Sakthi Prasad; Editing by John Mair)

[more]

Samsung Net Beats Estimates on Galaxy Phones, Demand for - Businessweek

04/26/12

Elpida’s bankruptcy will likely prompt major chip buyers ... “The most notable result in the first quarter was sales of the premium TV business,” Kim Dae Hyun, a vice president at the TV business, said during the call.

[more]

Pistol Pete’s saloon in Pleasantville abandoned; bankruptcy auction coming - Atlantic City Press

04/26/12

Peter Quarelli, the owner of Pistol Pete’s and principal of Salvi and Peter Land LLC, filed for Chapter 11 bankruptcy protection Feb. 9. The filing was later changed to a Chapter 7 liquidation. The largest secured creditor is Cape Savings Bank ...

[more]

Pinnacle Entertainment buys majority stake in Retama Park Racetrack near San Antonio - Minneapolis Star Tribune

04/26/12

The San Antonio Express-News ( http://bit.ly/Ilu2HX) reports profits have eluded Retama Park since the track opened in 1995 and that the Pinnacle sale could avert a potential bankruptcy. Retama Development Corp., a Selma municipal entity ...

[more]

Pinnacle buys thoroughbred track near San Antonio - Sacramento Bee

04/26/12

The San Antonio Express-News ( http://bit.ly/Ilu2HX) reports profits have eluded Retama Park since the track opened in 1995 and that the Pinnacle sale could avert a potential bankruptcy. Retama Development Corp., a Selma municipal entity ...

[more]

Betsey Johnson Declares Bankruptcy - Forbes

04/26/12

The filing will likely result in the dismissal of 350 employees and the closure of most of the brand’s 63 stores. Steve Madden, who has owned the brand’s intellectual property rights since 2010, said in an email that the group will ...

[more]

Hedgie who owns debt in ResCap asking political rival for help keeping lender out of bankruptcy - New York Post

04/26/12

Billionaire hedge-fund mogul and Republican stalwart Paul Singer is in an odd position of late — asking the Obama administration for help to keep troubled mortgage lender ResCap out of bankruptcy. Singer, whose Elliott Associates owns debt in the ...

[more]

American Airlines seeking more drastic labor cuts in bankruptcy than before - Dallas Morning News

04/26/12

This week’s trial is being held to hear American’s motion to reject its labor contracts under Section 1113 of the federal bankruptcy code. The unions are scheduled to begin presenting their cases against rejection May 14. Brundage described ...

[more]

Even after bankruptcy, trapped by student debt - AZCentral.com

04/26/12

And litigating in bankruptcy court may be impossible financially for someone ... the largest private lender, which originated $2.7 billion in education loans last year, has predicted changing the law would affect the availability of credit ...

[more]