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Transparency Sought in Train Derailment Settlement

06/11/15
This July 16, 2013, file photo shows firefighters and workers at the crash site of a train derailment that killed 47 people in Lac-Megantic, Quebec.
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On the Scene at Dewey & LeBoeuf Jury Selection

05/04/15
REUTERS

In a downtown Manhattan courtroom, assistant district attorney Peirce Moser briefed a crowd of would-be jurors on what to expect over the four to six months it’ll take to try three former leaders of t

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Caesars Seeks to Keep Grip on Restructuring – Next Week in Bankruptcy

04/24/15

Wednesday in Chicago, Caesars Entertainment Operating Co. will seek to keep a tight grip on its bankruptcy restructuring. The casino operator is asking judge to extend the period of time that its lawyers have to file a reorganization proposal before the field opens up to proposals from other groups.

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Lehman’s $83 Million Trader Taped Conversations

04/24/15

A former Lehman Brothers star trader secretly recorded several conversations that he says prove Lehman owes him more than $83 million in bonuses for his work done mostly in 2008, even though he received a similar amount when Barclays PLC bought Lehman, The Wall Street Journal reports.

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The Daily Docket: Bankruptcy Shield Protects GM From Ignition Switch Suits

04/16/15

In a 134-page ruling, a federal judge handed General Motors Co. a legal victory on Wednesday, ruling the Detroit auto maker can retain a bankruptcy shield that protects it from as much as $10 billion in claims brought by customers seeking damages tied to faulty ignition switches, The Wall Street Journal reported. 

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100 Montaditos Franchise Fight Is Heating Up

03/24/15

In the bankruptcy case of the little Spanish sandwiches, a big fight is heating up.

During a hearing last week, a federal judge said the South Florida franchise of 100 Montaditos could shut down despite the bankruptcy filing of the Spanish restaurant’s U.S. arm.

The ruling was basically a formality—the bankruptcy code might have prevented the franchisee from shutting down his operations without the judge’s approval—but it preserved the ability of franchisees and the company to take legal action against each other in the future.

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Gigaom Shuts Down, But Won’t File for Bankruptcy

03/10/15

Technology blog Gigaom announced that, unable to pay creditors, it’s discontinuing its operations, but it likely is not filing for bankruptcy.

In a post titled “a brief note about our company,” Gigaom’s management said it’s currently unable to pay creditors that have rights to all of the company’s assets. Gigaom said it doesn’t know what lenders plan to do with the assets, but “the company does not currently intend to file bankruptcy.”

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The Daily Docket: Lehman Brothers Raises Cash Estimate for Creditors to $90.6 Billion

02/03/15

The team unwinding Lehman Brothers Holdings Inc. boosted its estimate of how much cash it expects to bring in for creditors to $90.6 billion, buoyed primarily by a settlement with Lehman Brothers Bankhaus A.G., the German arm of Lehman’s investment-banking operation, The Wall Street Journal reports.

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A Default is a Default, no Matter the Size?

02/01/15

In an 11 page opinion issued January 30, 2015 in the TPOP bankruptcy (13-11831), Judge Shannon held that GM did not lose the ability to enforce its contracted right to repayment just because the default was “immaterial” according to the Debtor.  The Opinion is available here.

Background

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