Entries tagged "bankruptcy law"

Six Flags noteholders follow a well-worn path

Six Flags' noteholders are hoping to have the same luck that bondholders in Trump Entertainment Resorts had with terminating the debtor's exclusive right to file a plan.

Arizona fans aren't howling for Coyotes

These days must be tough for fans of pro hockey's Phoenix Coyotes. Or is it the other way around?

Chrysler's lesson to GM: Why fight the feds?

Chrysler's swift trip through bankruptcy court was supposed to be a case study for General Motors. And maybe it was, just not in the way many observers expected.

For banks, a distressed middle ground?

Members of the bankruptcy bar ponder an alternative to the current bank failure and bailout options for financial services firms.

Why Circuit City closed

Bankruptcy attorneys blame an arcane section of the bankruptcy code for Circuit City's liquidation, and the possible liquidation of bankrupt Ritz Camera.

No need to change bankruptcy laws for GM

Despite claims by lawyers that a GM bankruptcy warrants changing the laws governing bankruptcy, it seems like overkill.

Prosser demands judge's removal

Virgin Islands businessman Jeffrey Prosser, whose Innovative Communication is bankrupt, has taken issue with the judge hearing his personal and corporate bankruptcies.

Lehman judge in trouble with the law

Bankruptcy Judge James M. Peck gained some notoriety from Lehman Brothers' collapse. Now he's receiving attention for a domestic disturbance.

Icahn's stimulus package envisions an end to exclusivity

America's bankruptcy laws would look a whole lot different if corporate raider and self-styled shareholder activist Carl Icahn had a say in it. Icahn is no stranger to bankruptcy. He has put companies he owns into it, and he's bought many an asset out of it. And he thinks giving a debtor an exclusive period to submit a reorganization plan stinks. Or so he writes in a recent piece on The Wall Street Journal's op-ed page. ...

SEC charges Dreier upon return from Canada

The Securities and Exchange Commission charged New York attorney Marc Dreier, founder and managing partner of law firm Dreier LLP, which has a leading bankruptcy practice, with selling millions of dollars in bogus promissory notes. The SEC said Dreier sold at least $113 million in the fake notes. The charges, according to the criminal complaint, stem from a $100 million fraud against hedge funds in New York and Connecticut. ...

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