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The Broke and the Beautiful: Dodgers Edition

03/23/12

This week, bankruptcy doesn’t stop the Los Angeles Dodgers from earning the second spot in Major League Baseball’s most valuable team rankings. In other news, MGM is bouncing back from bankruptcy, while Venus Williams reaches for a fashion (and tennis) comeback.

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The Daily Docket: AMR’s American Airlines To Reject Labor Pacts

03/23/12

The parent of American Airlines said Thursday it would ask its bankruptcy judge to reject its existing labor contracts so it can impose its own terms in pursuit of $1.25 billion in savings the carrier maintains are essential for its survival. Read The Wall Street Journal story here.

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The Daily Docket: So Much Cash, So Few Deals

03/22/12

Years of a struggling economy have claimed another victim: distressed-debt investors who are raking billions of dollars of bankruptcy winnings off the table are casting about desperately for someplace to put the money to work.  Read the Daily Bankruptcy Review story here.

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The Daily Docket: Japan’s Elpida Seeks U.S. Bankruptcy Protection

03/20/12

Tokyo-based chip maker Elpida Memory Inc. is asking a U.S. court to protect its assets while it works to restructure its debts in Japan. Read the Daily Bankruptcy Review story here.

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Crystal Cathedral, Part 2

03/19/12
Associated Press
Paul Lips, left, and Jim Coleman, center, husband of Hope Center of Christ Pastor Sheila Coleman, greet worshippers to the church’s first service after breaking away from the C
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The Daily Docket: Mets Owners Settle with Madoff Trustee

03/19/12

The owners of the New York Mets baseball team and the trustee trying to recover money for victims of Bernard Madoff’s epic Ponzi scheme Jury settled as jury selection began. Read the story here in WSJ Law Blog.

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The Broke and the Beautiful: Sports Edition

03/16/12

The Broke and the Beautiful is feeling sporty this week, as the owners of the New York Mats go to bat in a trial related to the Madoff Ponzi scheme. Also, quarterback Michael Vick has paid off most of his debts, and the Spanish government is trying to address the tax debt that’s left its beloved football teams in the red.

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The Daily Docket: Dynegy “Disappointed” by Examiner’s Report

03/16/12

Dynegy defended its actions in transferring assets from its subsidiary to its parent company before bankrupting the subsidiary, a move a bankruptcy examiner blasted last week as fraudulent. Read the story here in Deal Journal.

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The Daily Docket: Ambac Wins Approval of Chapter 11 Plan

03/15/12

A judge confirmed Ambac Financial Group Inc.’s plan to exit bankruptcy in the hands of its bondholders, a big step forward for a company that served as one of the enduring faces of the derivatives-driven financial services bubble and its catastrophic implosion. Read the Daily Bankruptcy Review story here

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