WSJcomBankruptcyBeat

Voya Sues Over Millennium Loan

12/11/15

Voya Management Investment Co. filed a racketeering lawsuit over a $1.8 billion loan to Millennium Heath LLC.Read the Daily Bankruptcy Review article via The Wall Street Journal.

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Protests Halt Forum With Detroit Bankruptcy Judge

12/10/15
A man protests outside at Wayne State University before an event to discuss Detroit a year after the city’s exit from bankruptcy takes place Wednesday.
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LightSquared Nixes Lawsuit Against U.S. Government

12/10/15

LigtSquared LLC, formerly LightSquared Inc. and fresh out of bankruptcy protection, dismissed its lawsuit against the U.S. government. Read the Daily Bankruptcy Review article via The Wall Street Journal.

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Diocese of Duluth Seeks Bankruptcy Protection

12/08/15

The Roman Catholic Diocese of Duluth, Minn., filed for bankruptcy Monday after being hit with an $8.4 million verdict in a clergy sex abuse case, Read the Daily Bankruptcy Review story via The Wall Street Journal.  Last month, a jury awarded $8.4 million to a man who says he was sexually abused in the late 1970s by a priest serving in the Diocese of Duluth, which spans 10 counties in northeastern Minnesota.

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Children’s Tablet-Maker Fuhu Files for Chapter 11 Bankruptcy

12/07/15

Children’s tablet-maker Fuhu Inc. filed for chapter 11 bankruptcy protection Monday with a tentative deal to be acquired by Mattel Inc. for $9.5 million. Read the Daily Bankruptcy Review story via The Wall Street Journal.

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Next Week in Bankruptcy

12/04/15

F-Squared Investments Inc., an investment firm that failed earlier this year following a dispute with the U.S. Securities and Exchange Commission, is hoping to move closer to wrapping up its bankruptcy case.

On Monday, F-Squared will ask Judge Laurie Silverstein of the U.S. Bankruptcy Court in Wilmington, Del., to authorize it to put its plan to repay its debts to a creditor vote.

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Energy Future Wins Chapter 11 Plan Confirmation

12/04/15

Energy Future Holdings Corp. won confirmation Thursday of its $42 billion chapter 11 plan after lining up support for the proposal from its numerous creditors, Daily Bankruptcy Review reported via the Wall Street Journal. A bankruptcy judge approved the plan after Energy Future, the Texas power company formerly known as TXU Corp., piled up settlement after settlement, quieting the acrimony that had marked the chapter 11 proceeding since its start in April 2014.

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Shoe Queen Tamara Mellon Puts Luxury Line in Bankruptcy

12/03/15
Tamara Mellon attends the Fashion Group International’s Night of Stars in New York (Credit Image: Robin Platzer/Twin Images/UPPA via ZUMA Press)
Robin Platzer/Twin Images
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Coming and Going Concerns

12/03/15

Michael I. Goldberg is now co-chair at Akerman’s new fraud and recovery practice. Mr. Goldberg, the liquidating trustee in the Rothstein Rosenfeldt Adler bankruptcy case, focuses on Ponzi schemes and receiverships. He has also represented the chapter 11 trustee for the estate of boy-band magnate Lou Pearlman, who was convicted of running a $500 million Ponzi scheme.

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