Restructuring

ResCap Examiner Bill Could Reach $36M

08/07/12

The bill for former bankruptcy judge Arthur J. Gonzalez’s probe into mortgage lender Residential Capital LLC’s dealings with its government-owned parent, Ally Financial Inc., could reach $36 million.

That’s the high estimate for the team of investigators and lawyers Gonzalez has assembled (which includes high-priced legal talent from Chadbourne & Parke and advisers from Mesirow Financial Consulting), according to bankruptcy filings.

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The Daily Docket: Santa Ysabel Seeks Bankruptcy Harbor

08/07/12

Santa Ysabel Resort and Casino—too broke to build its resort and too small to lure many gamblers to its casino on a reservation outside San Diego—is about to test the notion that Native American enterprises aren’t eligible for protection under U.S. bankruptcy law. Read the Daily Banrkuptcy Review Small Cap article via The Wall Street Journal.

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The Daily Docket: Solyndra Debuts Exit Plan

07/31/12

Failed solar power equipment maker Solyndra LLC has sketched out its Chapter 11 plan and, as expected, there’s bad news for U.S. taxpayers: Estimates are $24 million of a $527 million government loan will be repaid, and that’s not a sure thing. Read the Daily Bankruptcy Review article here.

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The Daily Docket: Judge Won’t Move Kodak Patent Dispute

07/30/12
Associated Press/dapd

A judge denied Apple Inc.’s bid to move a patent dispute with Eastman Kodak Co. out of bankruptcy court.

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The Broke and the Beautiful: Curt Schilling Edition

07/27/12

This week on The Broke and the Beautiful, Curt Schilling’s 38 Studios is in the news, and we’ve got a feeling the Black Eyes Peas aren’t too happy with their ex-manager. Also, the bankruptcy of Westlife’s Shane Filan has sparked debate over “bankruptcy tourism.”

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The Daily Docket: Lehman Boosts Cash Estimate to $40.5B

07/27/12
Reuters

Lehman Brothers Holdings Inc.

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The Daily Docket: US Airways CEO Skeptical of AMR Merger Exploration

07/26/12

The head of US Airways Group Inc. on Wednesday expressed reservations about the strategic review being conducted by AMR Corp. and said he could go directly to its rival’s creditors in a bid to cement a merger. Read the Daily Bankruptcy Review article here.

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Ex-Kodak Employees Blast Bonus Plan

07/25/12
Associated Press/DAPD

Former Kodak employees who fear for their pensions and other benefits are urging a bankruptcy judge to think of them and not rubber-stamp $8.8 million in executive

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The Daily Docket: Investors Appeal Tribune Plan

07/25/12

Investors that wound up at the bottom of the payment pileup in Tribune Co.’s bankruptcy raced to appeal a Monday order confirming the media company’s Chapter 11 plan. Read the Daily Bankruptcy Review article here.

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The Daily Docket: Judge Endorses Tribune Plan

07/24/12

A bankruptcy judge Monday officially signed off on Tribune Co .’s Chapter 11 plan, endorsing final documents setting out the debt-for-equity swap that will make the media company property of hedge funds and banks. Read the Daily Bankruptcy Review article here.

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