People

The Broke and the Beautiful: Save the Twinkie! Edition

01/20/12

This week on The Broke and the Beautiful, Wendy Williams does her part to keep Twinkies alive, and boy-band mogul Lou Pearlman’s trustee must be feeling larger than life. Also this week, Jefferson, County, Ala., scores a run against J.P. Morgan Chase & Co. on its dealings with Houston Astros owner Jim Crane.

[more]

Houston Astros Owner Mucked Up in JeffCo Bankruptcy

01/20/12
Associated Press
Jim Crane

Stuck at the unfortunate end of the debt-clogged sewer system of Jefferson County, Ala., you’ll find Houston Astros owner Jim Crane.

[more]

Bankruptcy on Tap for Former Pabst Building

01/18/12

Grab your cheeseheads, Bankruptcy Beat readers. We’ve got a new Chapter 11 filing on tap that blends together two of Wisconsinites’ favorite things: beer and the Green Bay Packers.

[more]

The Daily Docket: Lehman Seeks To Lower Banks’ Loss Claims

01/17/12

Lehman Brothers Holdings Inc. is asking a bankruptcy judge to slash at least $35 billion from what some of Wall Street’s biggest banks claim they are still owed from the investment bank over losses tied to residential mortgage loans that Lehman packaged and sold to investors at the height of the housing bubble. Read the Daily Bankruptcy Review article here.

[more]

The Broke and the Beautiful: Show Me the Bankruptcy! Edition

01/13/12

This week, two sports agents received bankruptcy-related news, and the Dodgers fielded some new bidders. Also, Toni Braxton was hospitalized for lupus, and Nadya “Octomom” Suleman’s fertility doctor filed for bankruptcy.

[more]

The Daily Docket: Hostess Can Borrow on Loan

01/13/12

A judge on Thursday said Hostess Brands Inc. could begin borrowing on a $75 million loan from a lender group led by Silver Point Capital LP one day after the maker of Twinkies and Wonder bread filed its second Chapter 11 bankruptcy case in less than eight years. Read the Daily Bankruptcy Review article here.

[more]

The Daily Docket: Hostess Enters Bankruptcy

01/11/12

Hostess Brands Inc., the maker of Twinkies and Wonder Bread, filed for Chapter 11 bankruptcy protection Wednesday to confront burdensome debt and labor costs that it says have left it fighting to compete. Read the Daily Bankruptcy Review article here.

[more]

The Daily Docket: Lehman Australia Seeks Bankruptcy

01/10/12

Lehman Brothers Holdings Inc.’s Australian subsidiary is seeking bankruptcy protection under U.S. law and said its assets could include $1.3 billion to cover investors’ losses tied to synthetic collateralized-debt obligations. Read the Daily Bankruptcy Review article here.

[more]

Southern Montana Co-op Members Rage Against Bankruptcy Attorney

01/09/12

The battle to unseat Jon Doak as bankruptcy attorney for Southern Montana Electric Generation and Transmission Cooperative Inc. continued Friday, with a creditor in the case and member of the Southern Montana co-op claiming it’s Doak’s fault that its trustee was disallowed from an October meeting.

Beartooth Electric Cooperative’s trustee, Arlen Boyd, wasn’t allowed to participate “upon Doak’s recommendation” that three other trustees vote against her participation, Beartooth said in court documents.

[more]

The Broke and the Beautiful: Joe Torre Edition

01/06/12

This week on The Broke and the Beautiful, Joe Torre heads to bat for a Dodgers bid, and “Next 50” may finally be over. Also, a “Real Housewife” will meet up with Donald Trump.

[more]