People

IRS Targets Dionne Warwick’s Tax Debt

05/24/13
Joel Ryan/Associated Press
Dionne Warwick in November 2012

The Internal Revenue Service is wishin’ and hopin’ it can resolve Dionne Warwick’s unpaid taxes.

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The Daily Docket: Ally to Pay $2.1B to ResCap

05/24/13

Ally Financial Inc. said Thursday it will pay $2.1 billion to its mortgage subsidiary Residential Capital and the unit’s creditors under an agreement reached last week that could move the Detroit-based lender closer to repaying its government bailout. Read the Daily Bankruptcy Review article here.

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Ex-ComputerLand CEO Seeks Creditor Protection Amid Tax Fight

05/23/13

William H. Millard, once one of America’s wealthiest chief executives at the helm of the ComputerLand Corp. retail chain, has sought creditor protection in the U.S., telling a New York bankruptcy judge that he’s not a notorious tax fugitive but the target of a decades-old vendetta from lawmakers on the Pacific island of Saipan.

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The Broke and the Beautiful: Greek Soccer Edition

05/17/13

This week on The Broke and the Beautiful, Greek soccer club AEK Athens is readying for bankruptcy. Also, Lou Pearlman’s bankruptcy case is coming to a close, and Kerry Katona is back on TV.

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The Daily Docket: Goldman to Lend Arcapita Up to $350M

05/16/13

Goldman Sachs Group Inc. beat out Fortress Investment Group LLC for the right to lend Arcapita Bank up to $350 million that would ease the Bahraini investment firm out of Chapter 11 bankruptcy. Read the Daily Bankruptcy Review article here.

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Art Sales Will Boost Stanford Fraud Victims’ Recovery

05/15/13
Photo courtesy of Heritage Auctions
Dale Chihuly’s cobalt chandelier will be sold at auction next week.

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The Daily Docket: Ally Reaches Deal to Settle Claims With ResCap

05/15/13

Ally Financial Inc. said Tuesday it reached an agreement with its mortgage subsidiary Residential Capital LLC that could help accelerate its efforts to get out from government ownership. Read the Daily Bankruptcy Review article here.

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The Daily Docket: Revel Cleared to Leave Bankruptcy

05/14/13
Wayne Parry/Associated Press

Revel AC Inc., which saw its high-end Atlantic City, N.J., resort and casino falter nearly as soon as it opened its doors, won approval to exit bankruptcy with a fraction of the de

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The Broke and the Beautiful: Joe Francis Edition

05/10/13

This week on The Broke and the Beautiful, Joe Francis was found guilty of assault and false imprisonment, and he could get up to five years in prison. Also, rapper Young Buck’s bankruptcy case is winding down.

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Young Buck’s Bankruptcy Rap Sheet

05/09/13

Young Buck’s bankruptcy is drawing to a close while the rapper serves a prison sentence for gun possession.

The trustee overseeing the Nashville, Tenn.-based rapper’s bankruptcy liquidation recently filed her final report in the case, which raised $391,331.59 to pay creditors. Most creditors aren’t getting paid in full, while some aren’t getting paid at all.

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