The Daily Docket: Wyly Lawyers Seek Approval for Art Sale

10/30/14
In this May 6 file photo, Texas entrepreneur Sam Wyly arrives to U.S. District Court in New York.
Associated Press

Unaware that ex-billionaire Samuel Wyly had filed for bankruptcy, auctioneers at Christie’s Inc. sold three paintings he owned earlier this week without first getting permission from his bankruptcy judge, Daily Bankruptcy Review reports in The Wall Street Journal.

(Daily Bankruptcy Review is a daily newsletter with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit our homepage, scroll to the bottom and click “try for free.”)

Atlantic City, N.J., was in court Wednesday in an effort to collect as much as $30 million in unpaid property taxes from the Revel Casino Hotel, a 47-story beachfront resort. WSJ has the Daily Bankruptcy Review article here.

General Motors bailout veteran Harry Wilson is taking the helm to help aid RadioShack Corp.’s turnaround, WSJ reports.

A judge will rule Thursday whether the city of Stockton, Calif., can leave bankruptcy, Reuters reports.

A pension fund said GT Advanced Technologies Inc. shouldn’t be allowed to get rid of documents filed under seal in its bankruptcy case, Bloomberg reports.

Quality problems are hurting Fiat Chrysler Automobiles ’ bottom line in North America, Corporate Intelligence reports.

Write to Melanie Cohen at [email protected]. Follow her on Twitter at @MelanieLisa.

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