Uncategorized

Nortel’s Bond Interest Rate Fight Sends U.S., Canadian Judges to Separate Corners

07/25/14

The U.S. and Canadian judges who will decide how to divide $7.3 billion raised in the liquidation of the former Canadian technology icon went their separate ways Friday, with the U.S. judge canceling and the Canadian judge forging ahead with a hearing on an issue that could be key to the decision.

[more]

Which Crumbs Locations Could Reopen?

07/16/14
Melanie Cohen

Since emerging last week as Crumbs Bake Shop

[more]

Watchdog Warns Elderly of Bankruptcy Traders’ Offers

06/06/14

A government bankruptcy watchdog wants to ensure the claims trading industry doesn’t profit from the confusion of hundreds of people who have already lost money with New Life International, a Tennessee nonprofit that collapsed last year after investing money from charitable gift annuities.

[more]

Energy Future Unsecured Creditors Form Ranks, Hire Morrison & Foerster

05/13/14

Morrison & Foerster won the plum job of representing the official committee of unsecured creditors in the Energy Future Holdings Corp. Chapter 11 case, one of the biggest bankruptcies on record.

[more]

Forward Motions: Cross-Border Nortel Trial Set To Begin

05/09/14

Monday, the historic Nortel Networks Corp. cross-border bankruptcy trial will begin in Wilmington, Del., and Toronto. Judges will decide how to divvy up $7.3 billion from the sale of patents and other assets between Nortel divisions in Canada, the United States and Europe.

[more]

Ex-Howrey Partners Disgruntled With $4.2 Million Settlement

05/07/14

It’s often said in legal circles that the best settlements leave both sides equally unhappy.

But a deal reached this week requiring former partners to contribute $4.2 million to Howrey LLP’s bankruptcy estate has one side cheering jubilantly and the other side licking its wounds.

[more]

Here’s What Energy Future Is Paying the Lawyers, Bankers and Advisers Who Worked on Restructuring

05/02/14

Energy Future Holdings’ bid to restructure some $42 billion in debt under bankruptcy protection isn’t just the biggest busted LBO in history.

It’s also something of a full employment act for bankruptcy lawyers, especially now that cracks are showing in what the Texas energy company calls a “prearranged” restructuring.

[more]

Forward Motions: LightSquared to Make Case for Bankruptcy-Exit Plan

05/02/14

LightSquared next week will make its closing arguments in support of confirmation of its bankruptcy-exit plan.

Judge Shelley Chapman of the U.S. Bankruptcy Court in Manhattan will hear arguments on Monday and Tuesday on the $2.65 billion reorganization proposal.

[more]