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The Daily Docket: Kodak Enters Bankruptcy

01/19/12

Eastman Kodak Co. filed for Chapter 11 bankruptcy protection in New York early Thursday morning, The Wall Street Journal reports.

Kodak’s $950 million bankruptcy loan calls for the struggling company to lay out plans to auction its digital imaging patent portfolio by the end of June, court papers say. Read the Daily Bankruptcy Review article here.

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Bankruptcy on Tap for Former Pabst Building

01/18/12

Grab your cheeseheads, Bankruptcy Beat readers. We’ve got a new Chapter 11 filing on tap that blends together two of Wisconsinites’ favorite things: beer and the Green Bay Packers.

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The Daily Docket: FDIC Says BofA Owes Colonial $900M

01/18/12

The Federal Deposit Insurance Corp. says Bank of America Corp. owes the failed Colonial Bank $900 million for losses suffered when Colonial collapsed in the wreckage of Taylor Bean & Whitaker Mortgage Corp.’s multibillion-dollar bank fraud. Read the Daily Bankruptcy Review article here.

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Celebrities Flock to Yellowstone Club

01/17/12
Reuters
Justin Timberlake is one of the many celebrities who have recently visited the Yellowstone Club.

Move over, Bill Gates.

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MF Global Owes Elliott $74 Million

01/17/12

Lawyers for the committee representing MF Global Holdings Ltd.’s unsecured creditors and another group of nearly 200 MF Global customers dubbed the commodity customer coalition have filed papers with the U.S. Bankruptcy Court in New York listing the names of their members and what they’re owed from the holding company. Notable among the committee members is Paul Singer’s Elliott Management Corp., which has an unsecured claim against MF Global of $74 million.

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The Daily Docket: Lehman Seeks To Lower Banks’ Loss Claims

01/17/12

Lehman Brothers Holdings Inc. is asking a bankruptcy judge to slash at least $35 billion from what some of Wall Street’s biggest banks claim they are still owed from the investment bank over losses tied to residential mortgage loans that Lehman packaged and sold to investors at the height of the housing bubble. Read the Daily Bankruptcy Review article here.

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Investors No Longer Speculative of Junk Debt

01/13/12
EPA

Compared to 1980, a lot is different today about investors and investing.

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The Broke and the Beautiful: Show Me the Bankruptcy! Edition

01/13/12

This week, two sports agents received bankruptcy-related news, and the Dodgers fielded some new bidders. Also, Toni Braxton was hospitalized for lupus, and Nadya “Octomom” Suleman’s fertility doctor filed for bankruptcy.

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The Daily Docket: Hostess Can Borrow on Loan

01/13/12

A judge on Thursday said Hostess Brands Inc. could begin borrowing on a $75 million loan from a lender group led by Silver Point Capital LP one day after the maker of Twinkies and Wonder bread filed its second Chapter 11 bankruptcy case in less than eight years. Read the Daily Bankruptcy Review article here.

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Doak’s Application to Be Southern Montana Lawyer Withdrawn

01/12/12

Sometimes in bankruptcy, as in poker, you’ve gotta know when to hold ‘em and when to fold ‘em. So with an agreement filed Wednesday, Jon Doak decided to lay ‘em down.

After months of attempts by members and creditors of the Southern Montana Electric Generation and Transmission Cooperative to unseat the attorney for Southern Montana, Jon Doak reached an agreement with the Chapter 11 trustee Wednesday to withdraw his application to serve as the company’s bankruptcy lawyer.

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