WSJcomBankruptcyBeat

Judge Blasts IndyMac Phrase Turner

02/03/12
Associated Press

A federal judge in Los Angeles doesn’t think much of the literary abilities of a defense lawyer for two former IndyMac officials being sued by the Federal Deposit Insurance Corp.

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Avenue Moves to Keep Lingerie Promises

02/03/12

Executives at plus-sized retailer Avenue rushed to the courtroom Thursday to make sure that ladies who purchase their unmentionables from the chain remain, ahem, well-supported throughout the case.

In an 89-page summary of its immediate operational needs, the chain’s owner asked Judge Stuart M. Bernstein of the U.S. Bankruptcy Court in Manhattan to allow the company to continue giving out a free bra to women who’ve purchased five others from its roughly 430 stores, which are often set in suburban shopping malls.

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The Daily Docket: Hostess Can Borrow All of Its Loan

02/03/12

A judge Thursday cleared Hostess Brands Inc. to borrow the entirety of its $75 million bankruptcy loan, siding with the maker of Twinkies and Wonder Bread over protests from unsecured creditors who warned the financing deal would drive the company toward “extinction.” Read the Daily Bankruptcy Review article here.

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Ex-Solyndra Workers Blast Company, Lender

02/02/12
Bloomberg News

Solyndra LLC’s former workers are mad as you-know-what and say they’re not going to take it anymore.

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The Daily Docket: American Airlines Parent Seeks to Cut Jobs, Pensions

02/02/12

American Airlines parent AMR Corp. Wednesday said it will seek to cut 13,000 jobs and terminate pensions in pursuit of $2 billion in annual costs savings, tipping its hand for the first time in what could be a long and painful bankruptcy proceeding. Read The Wall Street Journal reports.

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Llamas, Tigers and Bears, Oh My!

02/01/12
Associated Press
Llamas from Ryan Patrick Scott’s failed business venture are seen in Independence, Iowa.

Household pets who belong to financially struggling owners co

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AMR Tells Employees of Plan to Dump Pensions

02/01/12
Associated Press

American Airlines parent AMR Corp.

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NewPage Seeks to Shield Officials from Investor Grilling

02/01/12

NewPage Corp. says its executives are in danger of being treated like pawns as second-lien investors seek to probe the company’s plans for bonuses.

A bankruptcy judge has scheduled an emergency hearing Wednesday on the company’s bid to protect executives from being grilled by the investors.

The bonuses are linked to a turnaround business plan for NewPage, a preliminary proposal to the company’s Chapter 11 plan that will ultimately say how much each group of creditors will collect.

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Lee Farkas Seeks Retrial

01/24/12
Bloomberg News
Lee Farkas

Former Florida mortgage lender Lee Farkas, the government’s biggest criminal conviction of the financial crisis, wants a retrial.

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Smashed Solyndra Assets: Scandal or Standard Procedure?

01/24/12
Bloomberg News

A Republican member of Congress declared it an “outrage.” Fox News

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