WSJcomBankruptcyBeat

The U.S. Bankruptcy Court in Manhattan is losing two veteran judges to retirement next year.

Judge James Peck, who presided over the historic Lehman Brothers Chapter 11, will retire at the end of next month, and Kodak Judge Allan L. Gropper will step down next fall, according to a press release issued by the bankruptcy court clerk for the Southern District of New York.

“They will be missed,” said Chief Bankruptcy Judge Cecelia G. Morris in the release. “Their influence will continue through their well-reasoned written opinions.”

A federal judge says corporate bankruptcy lawyers and advisers should err on the side of transparency when seeking court approval for the “handsome” fees they charge their clients.

A kerfuffle over professional fees in the bankruptcy case of investment firm GSC Group Inc. prompted last week’s strongly-worded ruling from Judge Shelley C. Chapman of the U.S. Bankruptcy Court in Manhattan.

Detroit’s bankruptcy judge allowed appeals of the city’s bankruptcy eligibility ruling and the pension ruling, the Detroit Free Press reports.

By Carolyn King 

Restructuring enthusiasts, mark your calendars. In December 2014, the industry’s top professionals are expected to release a report on how to modernize the aging U.S.