WSJcomBankruptcyBeat

Bankruptcy Beat Snapshot: Stephen Darr

08/11/14

Stephen Darr is no stranger to complex bankruptcies, but one case tops the list.

In June, a bankruptcy judge authorized Mr. Darr to take control of TelexFree LLC, a Massachusetts-based company accused by federal securities regulators of operating a massive pyramid scheme.

“I’ve been involved in a lot of interesting cases,” said Mr. Darr, a senior managing director at Mesirow Financial Consulting LLC in Boston. “TelexFree is number one.”

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The Daily Docket: MF Global Urges Judge Not to Toss PwC Suit

08/11/14

MF Global Holdings Ltd. is urging a judge not to toss its $1 billion lawsuit against PricewaterhouseCoopers LLP for the alleged bad accounting advice that MF Global says led to its 2011 collapse. The Wall Street Journal has the Daily Bankruptcy Review article here.

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The Broke and the Beautiful: Arresting Edition

08/08/14

This week on The Broke and the Beautiful, a bankruptcy judge recommends jail time for Joe Francis, and Gordon Ramsay has some debt on his plate. Also, Luther Elliss wants to help prevent football players from needing to file for bankruptcy.

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Forward Motions: Revel Set to Hit Bankruptcy Auction Block

08/08/14

Atlantic City’s Revel casino and hotel, the most recent addition to the city’s famed boardwalk, will head to the auction block Thursday as part of its second bankruptcy in as many years.

According to documents filed with the Camden, N.J., bankruptcy court, the auction was moved from Aug. 7 because lawyers “need additional time to fully analyze and evaluate the bids received and are not prepared to go forward with the scheduled auction.”

A hearing to approve the winning bid is scheduled for Aug. 18.

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Weil Gotshal Pulls Bankruptcy Partner Away from Kirkland

08/08/14
Gordon Studer

Weil Gotshal & Manges LLP is bringing in a lawyer from one of its biggest rivals to help run its marquee bankruptcy business, as firms fight over a shrinking supply of big restructuring cases.

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The Daily Docket: LightSquared Overhauls Chapter 11 Plan

08/08/14

Wireless venture LightSquared on Thursday overhauled its reorganization plan, and the new proposal appears to spell the end of longtime backer Philip Falcone’s ownership of the wireless venture. The Wall Street Journal has the Daily Bankruptcy Review article here.

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Coming and Going Concerns

08/07/14

David Benick has joined consulting firm Gavin/Solmonese as a senior director and will work with the litigation consulting team. He has experience in bankruptcy valuation, dispute valuation and other types of valuations. Most recently, Mr. Benick worked with advisory firm Grant Thornton. He is a member of the American Bankruptcy Institute and the Turnaround Management Association.

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On the Block: San Jose Repertory Theatre’s Costumes, Props

08/07/14
San Jose Repertory Theatre is auctioning off all of its possessions, including this vintage Coca-Cola machine.
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The Daily Docket: DirecTV, AT&T to Take Over CSN Houston Under Plan

08/07/14

Satellite TV provider DirecTV and telecom giant AT&T Inc. are would take over Houston’s struggling professional sports channel under a proposal filed late Wednesday in bankruptcy court. Read the Daily Bankruptcy Review article here.

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