This week on The Broke and the Beautiful, Sinbad is in bankruptcy, and Joe Francis is mad at the jury that convicted him of assault. Also, the IRS wants to resolve Dionne Warwick’s unpaid taxes.
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.
Defunct investment bank Lehman Brothers Holdings Inc. said it has agreed to sell $4.22 billion of its general unsecured claims against its brokerage unit Lehman Brothers Inc.
A new report that looks at the Commodity Futures Trading Commission’s response to MF Global Holdings Ltd. ’s collapse criticizes Chairman Gary Gensler, and has new questions about MF Global’s collapse, The Wall Street Journal reports.
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.
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.
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.
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
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.
