WSJcomBankruptcyBeat

Forward Motions: Judge to Review Fisker Payment Plan

07/25/14

A Delaware bankruptcy judge next week could approve the creditor-payment plan that would distribute money from the $149.2 million sale of failed hybrid auto maker Fisker Automotive Inc.

On Monday, Judge Kevin Gross has the power to approve the distribution plan for proceeds from the company’s sale to China’s Wanxiang Group. Wanxiang America has said it will revive Fisker’s car-making operations, and the plan offers old company’s trade vendors and other unsecured creditors a chance to share in the profits through a 20% ownership stake in the reorganized company.

[more]

The Daily Docket: Nortel Strikes $1 Billion Interest Cap With Bondholders

07/25/14

Nortel Networks Corp .’s U.S. division said Thursday it has reached a deal with bondholders owed nearly $4 billion to cap the interest they can collect at $1.01 billion. Read the Daily Bankruptcy Review story via The Wall Street Journal.

[more]

RTXB to Focus on Cannabis-Based Beverage Lines

07/24/14

Republic of Texas Brands Inc., which exited Chapter 11 bankruptcy protection earlier this month, is blazing a new trail in Texas.

[more]

The Daily Docket: Energy Future Scraps Restructuring Pact

07/24/14

Energy Future Holdings Corp. is terminating the restructuring support agreement it brought with it when it filed for Chapter 11 bankruptcy in April and making plans for an auction, according to a Thursday filing with the Securities and Exchange Commission. Read the Daily Bankruptcy Review article here.

[more]

Feds, Bankruptcy Settle Battle Over Rothstein Assets

07/23/14
In this July 27, 2009, photo, Scott Rothstein is shown in his former office.
Associated Press

More than four years after Scott Rothstein’s

[more]

Family of Slain Sbarro Employee Can Go After Insurance Money

07/23/14
A customer orders food at the Union Station location of Sbarro in Washington, D.C., in March.
Alex Wong/Getty Images

The family of

[more]

The Daily Docket: Ex-Dewey Executives Settle Suit

07/23/14
Reuters

Two former Dewey & LeBoeuf LLP executives have settled a civil suit brought by the defunct firm’s bankruptcy trustee to recover nearly $22 million, according to a Tuesday court filing.

[more]

Delaware Judge Faults Ocwen for Pushing Homeowners to Bankruptcy

07/22/14

It’s not one of the multibillion-dollar settlements or multimillion-dollar jury awards designed to spur reform of such allegedly abusive mortgage-servicing practices as falsified court documents, improper fees and other misconduct. But a recent ruling from a Delaware judge is a step forward for people making a last stand in bankruptcy to hang on to their homes, one attorney says.

[more]

CLEAR Zips Back Into the Fast Lane

07/22/14

Four years after emerging from bankruptcy, CLEAR, a biometric identification service that allows customers to zip through security screenings, is preparing to open fast lanes in new airports across the country.

According to CLEAR President and Chief Financial Officer Ken Cornick, the Manhattan company, whose screening services are available at nine U.S. airports, will enter McCarran International Airport in Las Vegas, a hub for many conferences and conventions. The new lanes could open as soon as next month.

[more]