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The Broke and the Beautiful: Buck Up Edition

05/25/12

This week on The Broke and the Beautiful, rapper Young Buck agreed to a plea deal and has been kicked out of his house. Also, TLC member T-Boz is getting sued for not making car payments.

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The Daily Docket: Publisher Houghton Mifflin Files for Bankruptcy

05/21/12

Houghton Mifflin Harcourt Publishing Co. filed for Chapter 11 bankruptcy protection Monday after striking a deal with its creditors to slash more than $3 billion in debt off its balance sheets. Read the Daily Bankruptcy Review story here.

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The Daily Docket: Court Reverses Tousa Decision

05/16/12

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 the Daily Bankruptcy Review article here.

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ResCap Bankruptcy Papers List Largest Creditors

05/14/12

Ally Financial Inc. placed its ResCap mortgage subsidiary into bankruptcy early Monday in an attempt to jettison what has long been a drag on its business.

ResCap’s initial bankruptcy filings also list the company’s largest unsecured creditors, a group that includes a number of bondholders, pension funds and other institutional investors. The company listed assets of $15.7 billion and debts of $15.3 billion.

Judge Martin Glenn of the U.S. Bankruptcy Court in New York has been assigned the case.

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The Daily Docket: Ally Puts ResCap Into Bankruptcy

05/14/12

Ally Financial Inc.’s troubled mortgage subsidiary filed for Chapter 11 bankruptcy early Monday, potentially paving the way for Ally to sever itself from substantial litigation that has been a drag on its other operations and prevented it from repaying the remainder of its government bailout. Read The Wall Street Journal here.

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The Daily Docket: Publisher Houghton Mifflin to File for Bankruptcy

05/11/12

Houghton Mifflin Harcourt Publishers Inc. has formed an agreement with a majority of its creditors to eliminate $3.1 billion of debt, marking the publisher’s latest effort to tackle a heavy debt load in the face of weak textbook demand. Read the Dow Jones Newswires story here.

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