News Topic: Restructuring

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 full article

European Pressphoto Agency 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. ... Read full article

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 . ... Read full article

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. ... Read full article

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 . ... Read full article

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 . ... Read full article

Wayne Parry/Associated Press 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 ... Read full article

Associated Press Gold bars and coins from the SS Central America, a mail steamship, sunk in a hurricane in 1857. The Columbus Dispatch newspaper says an ... Read full article

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. ... Read full article

Wayne Parry/Associated Press A federal bankruptcy watchdog is objecting to casino owner Revel AC Inc.’s restructuring plan, taking aim at “expansive” provisions meant to shield everyone from lenders to equity ... Read full article

Secured lenders led by Credit Suisse AG have been declared winners of an auction for the oil and gas drilling assets of ATP Oil & Gas Corp. with an offer of $690.8 million, court papers say. ... Read full article

Residential Capital LLC is suing a group of junior bondholders to block them from wresting control of the subprime mortgage lender’s bankruptcy case. Read the Daily Bankruptcy Review article here . ... Read full article

TimeGate Studios Inc. A still from Section 8: Prejudice A videogame publisher that holds a $10 million fraud judgment against game developer TimeGate Studi ... Read full article

TimeGate Studios Inc. A still from Section 8: Prejudice TimeGate Studios Inc. , a video game develope ... Read full article

This week, “Gossip Girl” actress Kelly Rutherford is on the brink of bankruptcy, and Dionne Warwick speaks out. Also, designer Betsey Johnson is ready to cartwheel onto reality TV. ... Read full article

Residential Capital LLC creditors want to give the company more time to control its bankruptcy case, Dow Jones Newswires reports . ... Read full article

Getty Images Eastman Kodak Co. has filed a plan to exit Chapter 11 bankruptcy protection that would hand ownership of the company to its bondholders and unsecured creditors. ... Read full article

Reuters The union whose nationwide strike sparked Hostess Brands Inc.’s decision to liquidate in bankruptcy said its workers are “inextricably linked” to the future of snacks such as Twinkies and Ho Hos and hi ... Read full article