WSJcomBankruptcyBeat

Energy Future Unsecured Creditors Form Ranks, Hire Morrison & Foerster

05/13/14

Morrison & Foerster won the plum job of representing the official committee of unsecured creditors in the Energy Future Holdings Corp. Chapter 11 case, one of the biggest bankruptcies on record.

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The Daily Docket: Investment Funds Buy Genco Stock

05/12/14

In the days following Genco Shipping & Trading Ltd. ‘s billion-dollar Chapter 11 filing, investment funds Aurelius Capital Partners and Och-Ziff Capital Management Group bought up stock in the dry bulk shipper, even though the stock is slated to be canceled in the restructuring and repaid very little. The Wall Street Journal has the Daily Bankruptcy Review article here.

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The Broke and the Beautiful: Mekhi Phifer Edition

05/09/14

This week on The Broke and the Beautiful, actor Mekhi Phifer is in bankruptcy, and legislators investigating the collapse of Curt Schilling’s videogame company are getting threatening letters. Also, “Real Housewife” Teresa Giudice got some good news.

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Forward Motions: Cross-Border Nortel Trial Set To Begin

05/09/14

Monday, the historic Nortel Networks Corp. cross-border bankruptcy trial will begin in Wilmington, Del., and Toronto. Judges will decide how to divvy up $7.3 billion from the sale of patents and other assets between Nortel divisions in Canada, the United States and Europe.

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The Daily Docket: LightSquared Judge Won’t Approve Restructuring

05/09/14

A judge on Thursday said some of Dish Network Corp. Chairman Charlie Ergen’s nearly $1 billion in claims in the wireless venture’s bankruptcy case will be subordinated below those of other creditors. However, in a separate ruling, she refused to approve LightSquared’s restructuring, saying it is unfair to Mr. Ergen. The Wall Street Journal has the Daily Bankruptcy Review article here.

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Coming and Going Concerns

05/08/14

Scott D. Fink has become the new business unit leader of Weltman, Weinberg & Reis Co.’s bankruptcy group. Mr. Fink, who’s been with the firm for more than nine years, is a managing partner and works on both consumer and commercial bankruptcy cases. He also works with the firm’s real estate default group. Mr. Fink earned his law degree from Case Western Reserve University School of Law.

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Drone Defense Contractor: Bankruptcy Will Lead to Revival

05/08/14

A closed Tennessee defense contractor that trained U.S. military personnel to use aerial drones—and supplied one to filmmakers for “Captain Phillips,” which starred Tom Hanks—has filed for bankruptcy with a plan to revive itself.

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Scott Rothstein’s Wife Faces $2 Million Judgment Over Hidden Jewels

05/08/14
In this June 9, 2010 file photo, Kim Rothstein leaves federal court in Fort Lauderdale, Fla.
Alan Diaz/Associated Press

Attempting to hide jewelry from the authoriti

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The Daily Docket: Energy Future Moves Ahead on Debt Exchange Offer

05/08/14
The TXU Monticello Steam Electric Station power plant near Mt. Pleasant, Texas, in February 2007.
Reuters

Energy Future Holdings Corp.

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Ex-Howrey Partners Disgruntled With $4.2 Million Settlement

05/07/14

It’s often said in legal circles that the best settlements leave both sides equally unhappy.

But a deal reached this week requiring former partners to contribute $4.2 million to Howrey LLP’s bankruptcy estate has one side cheering jubilantly and the other side licking its wounds.

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