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Hostess Unions Object To Asset Sale, Say Terms Violated, Jobs Not Preserved
NEW YORK - Two unions filed a brief in the U.S. Bankruptcy Court for the Southern District of New York on March 12 objecting to the sale of certain assets by bankrupt Hostess Brands Inc. on grounds...
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U.S. Trustee In Hostess Case: $8.89M In Fees Sought Are 'Unreasonable'
NEW YORK - The U.S. trustee in the Chapter 11 bankruptcy of Hostess Brands Inc. on March 6 filed a brief arguing that the attorneys and professionals seeking more than $8.89 million in fees and...
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Former Tribune Executives: Claims Are Not Property Of Litigation Trustee
WILMINGTON, Del. - Some former executives of bankrupt Tribune Co. on March 6 filed a brief in the U.S. Bankruptcy Court for the District of Delaware arguing that the litigation trustee should not be...
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Bankruptcy Judge OKs Tribune Liquidation Of Retiree Claims For More Than $12.12M
WILMINGTON, Del. - The bankruptcy judge presiding over the Chapter 11 bankruptcy of Tribune Co. on March 12 issued an order permitting Tribune to liquidate 86 claims brought by retirees of the company...
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Wilmington Trust: ResCap Should Not Bear Costs Of Foreclosure
NEW YORK - Wilmington Trust National Association, as the indenture trustee for bankrupt Residential Capital LLC (ResCap), on March 11 filed a brief supporting, but also objecting in a limited fashion,...
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GM Says Revstone's Choice Of Restructuring Officer Is 'Unquestionably...
NEW YORK - General Motors LLC (GM) on March 13 filed a brief in the U.S. Bankruptcy Court for the Southern District of New York objecting to Revstone Industries LLC's application to employ Huron...
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Solar Millennium To Cut $212.89M In Claims By Unnamed Amount In Solar Trust Case
WILMINGTON, Del. - The restructuring officer of bankrupt alternative energy company Solar Trust America AG on March 5 filed a brief supporting the settlement of claims among Solar Trust, the Committee...
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Fisker Automotive: Liquidation Plan For A123 Systems Lacks Needed Information
WILMINGTON, Del. - Fisker Automotive Inc. on March 11 filed a brief in a federal bankruptcy court objecting to the Chapter 11 liquidation plan of alternative energy company A123 Systems Inc., arguing...
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Pilots: Dispute Interferes With American Airlines Bankruptcy, US Airways Merger
NEW YORK - A group of pilots for US Airways Group Inc. on March 6 filed an adversary complaint in the Chapter 11 bankruptcy proceeding of AMR Corp., contending that another group of pilots should not...
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LodgeNet Chapter 11 Plan Gets OK Based On Exit Financing Greater Than $346.4M
NEW YORK - The federal bankruptcy judge presiding over the Chapter 11 proceeding of LodgeNet Interactive Corp. on March 7 approved its reorganization plan that includes exit financing of more than...
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U.S. Government Objects To Southern Air Holdings Plan Of Chapter 11...
NEW YORK - The U.S. government on March 6 filed a brief in the U.S. Bankruptcy Court for the District of Delaware contending that the Chapter 11 reorganization plan of bankrupt Southern Air Holdings...
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Bankruptcy Judge Approves Reorganization Plan For Education Holdings
WILMINGTON, Del. - The federal bankruptcy judge presiding over the Chapter 11 proceeding of Education Holdings 1 Inc., formerly known as the Princeton Review, on March 7 issued findings of fact...
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Committee: Ormet's Bidding Procedures Unfairly Benefit Stalking Horse
WILMINGTON, Del. - The Official Committee of Unsecured Creditors in the Chapter 11 bankruptcy of Ormet Corp. on March 15 filed an objection in the U.S. Bankruptcy Court for the District of Delaware...
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Michigan Governor Names Detroit's Emergency Financial Manager
DETROIT - The Michigan Local Financial Emergency Assistance Board on March 14 approved Gov. Rick Snyder's appointment of bankruptcy attorney Kevyn Orr as the emergency financial manager for the City of...
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Howrey Trustee Says Payments To Ex-Partners, Firms Are Fraudulent Transfers
SAN FRANCISCO - The trustee in the Chapter 11 bankruptcy of Howrey LLP on March 11 filed six adversary complaints in bankruptcy court, seeking recovery of what he alleges are fraudulent transfers made...
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NECC Trustee Wants All Meningitis Outbreak MDL Cases Sent To Bankruptcy Court
BOSTON - The trustee for the bankrupt New England Compounding Center (NECC) on March 10 asked a multidistrict litigation court overseeing federal meningitis outbreak injury cases to transfer all filed...
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OSG Defends Awarding Up To $12.2M In Bonuses, Dismisses U.S. Trustee's Objection
WILMINGTON, Del. - Bankrupt shipping company Overseas Shipholding Group Inc. (OSG) on March 18 defended its request for approval of up to $12.2 million in bonuses for non-executive employees despite...
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Judge: Jurisdiction Exists Over Insolvent Insurer's Breach Of Fiduciary Duty...
WEST PALM BEACH, Fla. - There is "related to" jurisdiction over an insolvent insurer's breach of fiduciary duty claim against its former directors, a Florida federal bankruptcy judge held Feb. 28,...
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Investors Say Bankrupt ATP Oil Fraudulently Sold Them $135M In Royalty Rights
HOUSTON - An investment bank on March 6 filed an adversary complaint against bankrupt ATP Oil & Gas Corp. in the U.S. Bankruptcy Court for the Southern District of Texas, contending that ATP...
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Bankruptcy Court Erred, Syms Affiliate Argues; Rent Not Owed Under New Mortgage
WILMINGTON, Del. - Trinity Place Holdings Inc., an entity formed out of bankrupt Syms Corp., on March 5 moved in the U.S. Bankruptcy Court for the District of Delaware for reconsideration of its ruling...
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