Restructuring

The Broke and the Beautiful: Heavy Hitters Edition

06/01/12

This week on The Broke and the Beautiful, a judge approved a settlement between the owners of the New York Mets and the trustee recovering money for Bernard Madoff’s fraud victims, and ex-Dodgers owner Frank McCourt is facing a grand-jury investigation. Also, former football great Jamal Lewis has hiked himself to bankruptcy court.

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The Daily Docket: Pemco Creditors Demand Payment

06/01/12

Creditors of Pemco World Air Services Inc. are demanding that the company’s majority owner, private equity firm Sun Capital Partners Inc., pay back two years’ worth of management fees. Read the DBR Small Cap article here.

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The Daily Docket: RG Steel Enters Bankruptcy

05/31/12

RG Steel LLC filed for Chapter 11 bankruptcy protection Thursday, days after admitting it was “confronted with an immediate, unexpected liquidity crisis.” Read the Daily Bankruptcy Review article here.

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The Daily Docket: Dewey Enters Bankruptcy

05/29/12
Reuters

Law firm Dewey & LeBoeuf LLP has filed for bankruptcy protection, The Wall Street Journal report

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Bankruptcy Beat Snapshot: Martin Bienenstock

05/25/12

After spending 35 years helping to fix troubled companies such as General Motors, Texaco and Owens Corning, Martin Bienenstock got the hands-on experience he never wanted.

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The Daily Docket: Catalyst to Auction Assets

05/25/12

Catalyst Paper Corp. will sell its assets to the highest bidder after the paper and pulp producer failed to bring enough of its creditors on board with its restructuring plan. Read the Daily Bankruptcy Review article here.

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The Daily Docket: LightSquared Lenders Doubt Future Success

05/24/12

LightSquared’s biggest lenders are questioning the company’s ability to clear regulatory hurdles and build out its high-speed wireless network, steps on which its viability depends. Read the Daily Bankruptcy Review article here.

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Dewey & LeBoeuf ‘Business Developments’ Hold Up Dodgers Billing

05/23/12
Reuters

Former Los Angeles Dodgers owner Frank McCourt may have slipped $1 billion into his pocket after dropping the team into bankruptcy, but the law firm that guided him through will have to wait to be paid

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The Daily Docket: NewPage Bondholders Seek Transparency

05/23/12

A group of NewPage Corp. bondholders, which doesn’t appear to have publicly disclosed who its members are or the amount of debt they hold, say the public interest is best served by unsealing a potential lawsuit they may face from a rival creditor group. Read the Daily Bankruptcy Review article here.

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The Daily Docket: Bankruptcy Claims Trading Slows

05/22/12

Distressed investors last month bought up the smallest amount of debt from ongoing bankruptcies in more than a year, new data show. Read the Daily Bankruptcy Review article here.

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