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The Daily Docket: Energy Future Drops Out of Optim Bidding

07/16/14

Energy Future Holdings Corp. has dropped out of the bidding on Optim Energy’s Twin Oaks power plant. Read the Daily Bankruptcy Review article here.

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Dewey Leaders Seek Dismissal of Criminal Charges

07/15/14
Dewey’s former chairman, Steven Davis, second from right, and former finance chief, Joel Sanders, third from right, arriving in court in March.
Reuters

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Diamond McCarthy Sues Former Partner to Recoup Dreier Bankruptcy Fee

07/15/14

In the niche practice of law-firm bankruptcies, Texas law firm Diamond McCarthy LLP has earned a reputation for its willingness to sue other lawyers.

Now, the firm is suing a lawyer it knows well—its former partner Sheila Gowan, who Diamond McCarthy says unjustly pocketed a $1.4 million fee for her work as Dreier LLP’s bankruptcy trustee.

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The Daily Docket: LightSquared Reaches Restructuring Plan Deal

07/15/14

Philip Falcone‘s LightSquared has reached a deal on a restructuring plan that has the support of Dish Network Corp. Chairman Charlie Ergen, its top secured lender. The Wall Street Journal has the Daily Bankruptcy Review article here.

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The Daily Docket: Harbinger Sues U.S. Government

07/14/14

Philip Falcone‘s Harbinger Capital Partners is suing the federal government for allegedly reneging on an agreement regarding wireless venture LightSquared. The Wall Street Journal has the Daily Bankruptcy Review article here.

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The Broke and the Beautiful: Crummy Edition

07/11/14

This week on The Broke and the Beautiful, there may soon be some sweet news for Crumbs Bake Shop , and a jury said the Dodgers were partially responsible for the beating of a San Francisco Giants fan. Also, Joe Francis won’t give up the keys to two fancy cars.

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Forward Motions: Energy Future Updates on Restructuring Support Agreement

07/11/14

Energy Future Holdings Corp. will on Friday present to the bankruptcy court a comprehensive report on the status of negotiations on the agreement that would form the backbone of its Chapter 11 plan.

The Friday hearing had originally been set as the date when Energy Future would press for court approval of the restructuring support agreement. But that has been delayed to allow negotiations to continue, according to Energy Future.

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The Daily Docket: Energy Future Could Bid up to $87.5M for Optim Plant

07/11/14

A bankruptcy auction is still weeks away, but the price of Optim Energy’s Twin Oaks power plant continues to jump, with Texas giant Energy Future Holdings Corp. signaling it could go as high as $87.5 million for the facility. Read the Daily Bankruptcy Review article here.

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Magnolia CEO: Crumbs May Die, But the Cupcake Lives On

07/10/14
Magnolia is an icon of the cupcake era, but the company gets less than 50% of its total sales from the frosted treats.
Magnolia Bakery

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