Restructuring

Oil, Canvas and a Lawsuit

08/15/12

Inner City Broadcasting Corp. says it’s the victim of a scheme to steal the art right off its walls and is fingering its own bankrupt subsidiary and a group of its senior lenders as the culprits.

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Fee Watchdogs Charge AMR Thousands of Dollars

08/14/12
Associated Press
An American Airlines fleet clerk unloads a baggage can.

How much does it cost a company to keep an eye on the fees that its attorneys, adv

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The Daily Docket: Elpida Files Exit Plan

08/14/12

Elpida Memory Inc. bondholders have filed a bankruptcy-exit plan that values the company at $3.85 billion, well over the price rival Micron Technology Inc. has offered to pay for the distressed chip maker. Read the Daily Bankruptcy Review article here.

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The Daily Docket: Lehman Trustee to Sell Gas Tanker Stake

08/13/12
Reuters

The trustee unwinding Lehman Brothers Holdings Inc.’s brokerage business has agreed to sell the company’s stake in a gas shipping business to Wilbur Ross for $110 million.

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The Broke and the Beautiful: Family Affair Edition

08/10/12

This week on The Broke and the Beautiful, it’s a family affair. Olympic gold medalist Gabby Douglas’s mom is in bankruptcy, and comedian and actor Russell Brand’s dad just narrowly avoided it. Also, former big leaguer Jose Canseco says bankruptcy can happen to anyone.

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The Daily Docket: Tribune Says Appeal Could Cost $1.5B

08/10/12

Tribune Co. has put a price tag on the damage that it says would be caused if its exit from Chapter 11 is delayed while unhappy creditors appeal its bankruptcy-exit plan: at least $1.5 billion and perhaps as much as $3 billion. Read the Daily Bankruptcy Review article here.

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Study Finds Bankruptcy Bonuses Work

08/09/12
Getty Images

In bankruptcy, you need to spend money to save money, even if that means spending it on the same management team that steered a business into Chapter 11.

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The Daily Docket: Falcone Fires Back at LightSquared Lenders

08/09/12

Phil Falcone’s Harbinger Capital Partners has said an investigation by lenders to LightSquared into so-called insider loans the wireless company received is meant to “embarrass” and “harass” the hedge fund. Read the Daily Bankruptcy Review article here.

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Company That Helped Demolish Yankee Stadium Collapses in Bankruptcy

08/08/12
Associated Press
Construction equipment sits amid debris during the demolition of the old Yankee Stadium, which Demco Inc.
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The Daily Docket: Pinnacle Says Shareholders Jeopardized Restructuring

08/08/12

Pinnacle Airlines Corp. is accusing hedge fund and shareholder Meson Capital Partners LP of putting its reorganization at risk in order to squeeze value out of shares that are expected to be worthless. Read the Daily Bankruptcy Review article here.

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