News Topic: Restructuring

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 . ... Read full article

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 . ... Read full article

Reuters Law firm Dewey & LeBoeuf LLP has filed for bankruptcy protection, The Wall Street Journal report ... Read full article

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. ... Read full article

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 . ... Read full article

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 . ... Read full article

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 ... Read full article

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 full article

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 . ... Read full article

Associated Press The feds are burned out with a medical marijuana grower that it suspects isn’t quite taking its bankruptcy case seriously. ... Read full article

This week on The Broke and the Beautiful, presidential hopeful Mitt Romney faces criticism from President Obama’s re-election campaign over the practices of his former employer, private equity firm Bain Capital. Also, Nadya “Octomom” Suleman’s Chapter 7 ... Read full article

Hedge funds owed nearly $53 million have moved to push Allied Systems Holdings Inc. into an involuntary bankruptcy case, a remedy for what they claim are improper moves by owner Yucaipa Cos. Read the Daily Bankruptcy Review article here . ... Read full article

Alabama lawmakers refused to throw struggling Jefferson County a financial lifeline with a bill that would have allowed it raise millions of dollars in taxes. The move would have helped the county plug holes in its general fund and ease it out of ... Read full article

Getty Images American Airlines’ restructuring has put the airline into frequent conflict with its employees. The latest bone of contention? Peel-off mailing labels. ... Read full article

A federal appeals court has reversed a lower court decision involving the bankruptcy of Florida home builder Tousa Inc. in a closely watched court case that could have far-reaching implications for lenders of struggling companies and their creditors. Read ... Read full article

Associated Press A judge Monday denied Hostess Brands Inc.’s bid to shed deals with its biggest union, the Teamsters, sending the bakery company back to the drawing board as it tries to claw its way out of its ... Read full article

Reuters A man moves boxes out of the offices of Dewey & LeBoeuf. Curious what happens to a client whose law firm is on the brink of collapse? ... Read full article

This week on The Broke and the Beautiful, Terrell Owens opens up to famed talk-show host Dr. Phil, and the Phoenix Coyotes might be ending its period of NHL ownership. Also this week, Gary Busey has a new job. ... Read full article