News

Hostess pay hikes reversed after Chapter 11 - New York Post

04/10/12

That’s not a lot of dough. Facing an internal revolt, Hostess Brands will roll back pay raises it doled out to top managers just months before filing for bankruptcy. The maker of Twinkies and Ding Dongs is slashing pay for its four highest-paid managers ...

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Magic Johnson's $2 Billion Dodger Purchase Plan Under Scrutiny - Hollywood Reporter

04/10/12

Finally the bankruptcy court trustee, U.S. Bank NF, wants language inserted into the agreement that insures other investors besides McCourt are protected. They appear to believe there is a risk McCourt will take the money he gets from the sale, pay off his ...

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OneUnited says Charles Street AME parent controls church’s assets - Boston Globe

04/10/12

Charles Street filed for Chapter 11 bankruptcy protection in March after months of failing to get the bank to renegotiate two loans that had come due. Ross Martin, the church’s lawyer at Ropes & Gray, said Charles Street would file its ...

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Dodgers sale virtually certain to be approved by Bankruptcy Court - Los Angeles Times

04/10/12

However, the court almost certainly would have rejected any MLB objection on those grounds, as the league already had approved Guggenheim as a buyer, and the McCourt entity that currently owns the parking lots is not part of the bankruptcy case.

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Fox, MLB file sale objections - ESPN

04/10/12

A hearing to confirm the sale agreement is scheduled for Friday before U.S. Bankruptcy Judge Kevin Gross. "The Los Angeles Dodgers anticipate confirmation of the debtors' plan of reorganization on schedule," the Dodgers said in a statement ...

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Bankrupt Elpida Inspires Billion-Dollar Bids Over Samsung: Tech - Bloomberg

04/10/12

The mobile DRAM business is “the only thing worth buying” among Elpida’s assets, Amir Anvarzadeh, a Singapore-based manager for Asian equity sales at BGC Partners, said in a phone interview. Elpida isn’t the only company in bankruptcy ...

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Fox, MLB file objections to Dodgers sale - YAHOO!

04/10/12

A hearing to confirm the sale agreement is scheduled for Friday before U.S. Bankruptcy Judge Kevin Gross. ''The Los Angeles Dodgers anticipate confirmation of the debtors' plan of reorganization on schedule,'' the Dodgers said in a statement, adding it ...

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Whatcom bankruptcies for first quarter down slightly from previous year - Bellingham Herald

04/10/12

In March Whatcom County had 72 bankruptcies, more than 80 percent of which were Chapter 7 personal filings, with the rest being Chapter 13 reorganization filings. Across the Seattle district, 1,333 bankruptcy filings took place last month ...

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Groupon On The Road To Bankruptcy - Seekingalpha.com

04/10/12

Groupon is well on the road to bankruptcy, and is doomed to serve as yet another Economics ... that are offering discounts - in hopes of generating an immediate spike in sales alongside increased long-term demand for their services. As the middleman ...

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MF Global Can Use Insurance for Defense Costs, Judge Rules - Bloomberg

04/10/12

The brokerage case is Securities Investor Protection Corp. v. MF Global Inc., 11-02790, U.S. District Court, Southern District of New York (Manhattan). The parent’s bankruptcy case is MF Global Holdings Ltd., 11-bk-15059, U.S. Bankruptcy Court ...

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