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The Daily Docket: NII Holdings Skips an Interest Payment

08/18/14

Latin American Nextel wireless provider NII Holdings Inc. won’t make a $118.8 million interest payment to bondholders, the company announced Friday, days after it warned it would likely have to file for Chapter 11 bankruptcy protection. Read the Daily Bankruptcy Review story here.

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Forward Motions: Shuttered Crumbs Bake Shop Set for Auction

08/15/14
A closed Crumbs Bake Shop store is seen in New York July 8, 2014. 
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The Daily Docket: Lehman Sets $4.6B Unsecured Creditor Distribution

08/15/14

General unsecured creditors of Lehman Brothers Inc. will receive $4.6 billion in their first distribution, perhaps as soon as next month. The Wall Street Journal has the Daily Bankruptcy Review article here.

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The Ponzi Scheme Within Bernie Madoff’s Ponzi Scheme

08/14/14

Investigations trying to unwind the machinations of Bernie Madoff’s Ponzi scheme in 2009 were surprised to find what appeared to be another Ponzi scheme inside it, and the father-and-son team that were running that scam this week pleaded guilty. MarketWatch’s Sitel Patel joined the MoneyBeat show with details.

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The Daily Docket: EFH Creditors Want Answers From IRS

08/14/14

Creditors threatened with big losses in Energy Future Holdings Corp.’s bankruptcy case are demanding answers about the tax issues they say are driving the big Dallas power seller’s strategy for restructuring its $42 billion debt load. Read the Daily Bankruptcy Review article here.

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Small Hospital Has a Whole Lotta Debt

08/13/14

A small hospital in Bloomington, Ind., has filed for bankruptcy with an eye-popping $134 million worth of debt.

Officials at Monroe Hospital, which has 32 beds but only cares for an average of eight patients, told a federal judge that the hospital owes about $121.8 million to a real estate investment trust that is both its landlord and lender.

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The Daily Docket: Corinthian Likely Needs More Cash

08/13/14

Embattled for-profit education company Corinthian Colleges Inc. will likely need to raise more money in order to complete its plan to sell the majority of its Everest, WyoTech and Heald campuses during the next six months, the company said Wednesday. Read the Daily Bankruptcy Review article here.

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Houlihan Lokey Opens A New Front For Boutiques: Consulting

08/12/14

Houlihan Lokey is firing up PowerPoint and striking a strategic partnership with a consulting firm.

The boutique investment bank has taken a stake in Chicago-based management and strategy consulting outfit Bridge Strategy Group, it announced today.

It’s the latest move  within the clique of ambitious boutique investment banks who have been on an expansion kick of late.

But it’s of a slightly different flavor than what we’ve seen in the past.

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The Daily Docket: Falcone Files Plan for Smaller LightSquared Unit

08/12/14

Philip Falcone’s Harbinger Capital Partners filed a competing proposal for his wireless venture on Monday that would pump new money into the smaller pool of the wireless venture’s assets. Read the Daily Bankruptcy Review article here.

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U.S. Bankruptcy Judge Calls Temporary Truce on Nortel Bond Interest Fight

08/11/14

A U.S. bankruptcy judge has called a temporary truce in a fight between Nortel Networks Corp.’s U.S. division and the Canadian parent company over a $1 billion settlement with bondholders.

Judge Kevin Gross pushed off until October a planned September showdown over the settlement, which has to do with how much interest is owing on some $4 billion in bond debt issued by the former Canadian technology icon.

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