News Topic: White-Collar Crime

Lehman Brothers Holdings Inc. is suing Citigroup Inc. in an effort to recover $2.5 billion transferred to Citi in the months before Lehman’s September 2008 bankruptcy filing. Read the Daily Bankruptcy Review article via The Wall Street Journal . ... Read full article

A judge Thursday cleared Hostess Brands Inc. to borrow the entirety of its $75 million bankruptcy loan, siding with the maker of Twinkies and Wonder Bread over protests from unsecured creditors who warned the financing deal would drive the company toward ... Read full article

Bloomberg News Lee Farkas Former Florida mortgage lender Lee Farkas, the government’s biggest criminal conviction of the financial crisis, wants a retrial. ... Read full article

This week on The Broke and the Beautiful, Wendy Williams does her part to keep Twinkies alive, and boy-band mogul Lou Pearlman’s trustee must be feeling larger than life. Also this week, Jefferson, County, Ala., scores a run against J.P. Morgan Chase ... Read full article

Eastman Kodak Co. filed for Chapter 11 bankruptcy protection in New York early Thursday morning, The Wall Street Journal reports . Kodak’s $950 million bankruptcy loan calls for the struggling company to lay out plans to auction its digital imaging patent ... Read full article

The Federal Deposit Insurance Corp. says Bank of America Corp. owes the failed Colonial Bank $900 million for losses suffered when Colonial collapsed in the wreckage of Taylor Bean & Whitaker Mortgage Corp.’s multibillion-dollar bank fraud. Read the ... Read full article

This week on The Broke and the Beautiful, Joe Torre heads to bat for a Dodgers bid, and “Next 50” may finally be over. Also, a “Real Housewife” will meet up with Donald Trump. ... Read full article

Lehman Brothers Holdings Inc. sparred in court Thursday with Bank of America Corp. and Barclays PLC over the future of the Archstone apartment company if a big stake in the firm ends up in the hands of its biggest rival, Sam Zell’s Equity Residential. ... Read full article

As Lehman Brothers Holdings Inc. prepares to start paying out some $65 billion to its creditors, it’s seeking approval of deals to bring more than $390 million into its coffers. Read the Daily Bankruptcy Review article here . ... Read full article

Quiznos is reaching a deal to restructure about $870 million in debt, The Wall Street Journal reports . ... Read full article

A handful of hedge fund companies that specialize in buying up the distressed debt of bankrupt businesses are suing Delphi Automotive PLC and some of its biggest backers, claiming the newly public auto-parts supplier is shortchanging them on a potential ... Read full article

The U.S. Supreme Court has opted to weigh in on one of the hottest topics in bankruptcy: whether lenders have the right to use debt as currency in bankruptcy auctions. Read the Daily Bankruptcy Review article here . ... Read full article

Fox Sports faced a skeptical judge Wednesday, when it launched its attack on the Los Angeles Dodgers’ plan to put the team’s future broadcast rights on the bankruptcy auction block. Read the Daily Bankruptcy Review article here . ... Read full article

The Giant and Stop & Shop supermarket chains are balking at A&P’s deal with its unionized employees to slash wages and benefits, claiming they may be forced to pick up the slack with respect to a multiemployer plan the three chains share. Read the ... Read full article

This week on The Broke and the Beautiful, the company that hosted Michael Jackson’s memorial concert danced into administration. We also report on a TLC band member falling into bankruptcy and boy-band mogul Lou Pearlman’s bankruptcy trustee’s bad news ... Read full article

Dynegy Inc. appointed a new chairman and said it joined its Dynegy Holdings LLC unit in filing a proposed reorganization plan with the U.S. bankruptcy court. Read the article in Daily Bankruptcy Review. ... Read full article

Lehman Brothers Holdings Inc. reached a deal with the trustee for investors in a complex natural gas deal that fizzled when the investment bank collapsed and its impact was felt from Walt Disney World to the city of Tallahassee, Fla. Read the Daily ... Read full article

Innkeepers USA Trust on Thursday said it has closed its $1.02 billion sale of 64 hotels to Cerberus Capital Management LP, the last step in the hotelier’s emergence from Chapter 11 bankruptcy. Read the Daily Bankruptcy Review article here . ... Read full article