Restructuring

The Daily Docket: MF Global Strikes Deal With J.P. Morgan Over Claims

07/26/13

MF Global Holdings Ltd. has struck a deal with J.P. Morgan Chase & Co. that calls for the bank to pay MF Global a portion of what the bank recovers in the case, a settlement that MF Global’s administrator says avoids “years of costly and complex litigation.” Read the Daily Bankruptcy Review article here.

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The Daily Docket: Judge Blocks Challenges to Detroit’s Bankruptcy

07/25/13

The federal judge handling the nation’s largest municipal-bankruptcy case ruled Wednesday that the city of Detroit is entitled to protection from state lawsuits challenging its bankruptcy filing. Read the Daily Bankruptcy Review article via The Wall Steet Journal.

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The Daily Docket: Maxcom Enters Bankruptcy in the U.S.

07/24/13

Mexican phone company Maxcom Telecomunicaciones S.A.B. filed for Chapter 11 bankruptcy protection in the U.S. late Tuesday after reaching a deal with its creditors that would hand control of the company to a group of investors led by private equity firm Ventura Capital Privado S.A. Read the Daily Bankruptcy Review article here.

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The Daily Docket: LightSquared Sees Rival Plans After Losing Chapter 11 Control

07/23/13

With control of its bankruptcy case gone, LightSquared said it expects multiple proposals to reorganize the company and hopes to have any winning plan approved by December. Read the Daily Bankruptcy Review article here.

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The Daily Docket: Detroit Lawyers Seek Retiree Committee

07/22/13

Poised to break pension promises to more than 23,500 retired city workers, cops and firefighters, Detroit’s bankruptcy attorneys said that those retirees deserve an official committee to speak for them as the 686,000-resident city struggles to unload labor costs in order to survive. Read the Daily Bankruptcy Review article here.

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The Broke and the Beautiful: Lou Pearlman Edition

07/19/13

This week on The Broke and the Beautiful, boy-band mogul Lou Pearlman’s investors will soon start voting on a repayment plan, and the Backstreet Boys are back in court to defend claims against Mr. Pearlman. Also, the former Versace mansion is headed for a bankruptcy auction.

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The Daily Docket: Detroit Enters Bankruptcy

07/19/13

The city of Detroit filed for Chapter 9 protection in the biggest municipal bankruptcy case in U.S. history, The Wall Street Journal reports.

Waste processor Synagro Technologies Inc. Thursday won court approval to poll creditors on its plan to bail out of financial trouble through a sale to Sweden’s EQT Partners. Read the Daily Bankruptcy Review article here.

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The Daily Docket: Detroit Bankruptcy Could Come Within Days

07/18/13

A bankruptcy filing by the city of Detroit could come within days, The Wall Street Journal reports.

The U.S. Environmental Protection Agency added its voice to the chorus of regulators worried battery maker Exide Technologies Inc.’s bankruptcy loan poses a threat to public health and safety. Read the Daily Bankruptcy Review article here.

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The Daily Docket: K-V to Send Exit Plan to Creditors

07/17/13

K-V Pharmaceutical Co. received approval Tuesday to send its bankruptcy-exit plan to creditors for a vote. Read the Daily Bankruptcy Review article here.

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The Daily Docket: Court Rejects Lehman Retiree Suit

07/16/13

A U.S. appellate court on Monday upheld a lower court’s decision to dismiss a lawsuit by retirees of Lehman Brothers Holdings Inc. that sought to hold the company’s directors, including former Chief Executive Dick Fuld, accountable for squandering their retirement savings on stock that was rendered worthless when the investment bank collapsed into bankruptcy. Read the Daily Bankruptcy Review article here.

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