Tim Blixseth Jailed for Contempt

04/21/15
Tim Blixseth was ordered to jail for contempt until he accounts for million he owes creditors. In this April 29, 2009, file photo, Tim Blixseth arrives at the federal courthouse in Missoula, Mont.
Michael Albans/Associated Press

A federal judge Monday ordered former billionaire real-estate developer Tim Blixseth jailed for contempt until he accounts for millions of dollars he owes creditors. The Wall Street Journal has the Daily Bankruptcy Review article here.

(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 http://on.wsj.com/DJBankruptcyNews, scroll to the bottom and click “try for free.”)

According to Bloomberg, creditors of Energy Future Holdings Corp. are looking for an extra $431 million bankruptcy payment.

Atlantic City, N.J., is in talks to hire restructuring lawyers, WSJ reports.

Revel AC Inc., the former owner of the Revel Casino Hotel in Atlantic City, N.J., took a decisive step toward winding down its chapter 11 case Monday, DBR (sub. req.) reports.

Sexual-abuse victims don’t have to publicly disclose claim values in the case of the Roman Catholic Archdiocese of St. Paul and Minneapolis, Reuters reports.

Chicago’s public schools are haunted by financial issues and is looking to borrow money to pay for upgrades, Bloomberg reports.

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

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