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Judge In SIPA Action Against MF Global CEO Approves Settlement Preliminarily
NEW YORK - The federal judge presiding over a class of investors who sued former MF Global Holdings Ltd. (MFGH) CEO Jon Corzine alleging violations under the Securities Investor Protection Act (SIPA)...
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U.S. Trustee: MF Global Liquidation Plan Fails To Meet Bankruptcy Code
NEW YORK - The U.S. trustee in the Chapter 11 bankruptcy of MF Global Holdings Ltd. (MFGH) on March 25 filed a brief in the U.S. Bankruptcy Court for the Southern District of New York objecting to the...
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Peregrine Trustee Seeks To Compel Financial Adviser To Produce Documents
CHICAGO - The trustee in the Chapter 7 bankruptcy of Peregrine Financial Group Inc. on March 25 moved in the U.S. Bankruptcy Court for the Northern District of Illinois to compel Halyard Capital...
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Peregrine Trustee Wants To Examine Former Accountant Regarding CEO's Fraud
CHICAGO - The trustee in the Chapter 7 bankruptcy of former financial company Peregrine Financial Group Inc. on March 19 moved in the U.S. Bankruptcy Court for the Northern District of Illinois for...
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2 Creditor Groups Support AMR, US Airways Merger
NEW YORK - Two committees in the Chapter 11 bankruptcy of AMR Corp., the parent company of American Airlines Inc., on March 22 filed statements in the U.S. Bankruptcy Court for the Southern District of...
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U.S. Trustee Opposes AMR, US Airways Merger; CEO's Bonus Violates Bankruptcy Law
NEW YORK - The U.S. trustee in the Chapter 11 bankruptcy of AMR Corp., the parent company of American Airlines Inc., on March 25 filed a sur-reply brief in the U.S. Bankruptcy Court for the Southern...
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Revel AC Casino Files For Chapter 11 Bankruptcy, With $250M In Financing...
TRENTON, N.J. - Bankrupt casino Revel AC Inc. on March 26 filed a disclosure statement for its joint plan of reorganization a day after it filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court...
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Bankrupt Revel Casino Secures $250 Million In Post-Petition Financing
TRENTON, N.J. - The federal bankruptcy judge overseeing the Chapter 11 proceeding of casino Revel AC Inc. on March 27 approved $250 million in post-petition financing, also known as...
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Reader's Digest Reorganization Plan Would Convert $475M In Debt To Equity
NEW YORK - Bankrupt publishing company RDA Holding Co., the parent company for Reader's Digest, on March 21 moved in the U.S. Bankruptcy Court for the Southern District of New York for approval of its...
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Bankrupt Telecommunications Company Otelco Seeks Prepackaged Reorganization
WILMINGTON, Del. - Wireless communications company Otelco Inc. on March 24 filed a disclosure statement in the U.S. Bankruptcy Court for the District of Delaware, seeking acceptance of a prepackaged...
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Shutterfly: Kodak Is Violating Noncompete Agreement Related To Asset Sale
NEW YORK - Photography company Shutterfly Inc. on March 22 filed an adversary complaint against bankrupt Eastman Kodak Co. in the U.S. Bankruptcy Court for the Southern District of New York, seeking...
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Tribune Says More Than $13.25M Sought by Indenture Trustees Is 'Without Merit'
WILMINGTON, Del. - The reorganized version of bankrupt media entity Tribune Co. on March 28 filed a brief in the U.S. Bankruptcy Court for the District of Delaware objecting to $13.25 million in...
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WP Steel Committee: Lien Agents Breached Duty Related To Bankruptcy Petition
WILMINGTON, Del. - The Official Committee of Unsecured Creditors in the Chapter 11 bankruptcy of WP Steel Venture on March 29 sued Cerberus Business Finance in its capacity as a second lien agent and...
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A&P Wants Claims Disallowed As Duplicative, Inconsistent With Reorganized...
NEW YORK - Bankrupt grocer The Great Atlantic & Pacific Tea Co. Inc. (A&P) on March 27 filed a brief in the U.S. Bankruptcy Court for the Southern District of New York objecting to certain...
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Judge Rules Against FDIC, Allowing Bank Company To Keep Tax Refund
CLEVELAND - Bankrupt holding company AmFin Financial Corp. (AFC) can keep a $195 million tax refund that the Federal Deposit Insurance Corp. argued belongs to an affiliate bank in the FDIC's...
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Rothstein Trustee: Statement Pertaining To Liquidation Plan Should Be Approved
FORT LAUDERDALE, Fla. - The Chapter 11 liquidating trustee in the bankruptcy case of former law firm Rothstein Rosenfeldt Adler on March 19 filed a brief in the U.S. Bankruptcy Court for the Southern...
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7th Circuit: Company That Bought Debtor's Assets Liable For Labor Violations
CHICAGO - A panel of the Seventh Circuit U.S. Court of Appeals on March 26 ruled that a company that purchased the assets of an insolvent company also became liable for alleged violations of federal...
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1st Circuit: Lender's Attempt To Collect Student Loan Debt Was Abuse Of Process
BOSTON - A panel of the First Circuit U.S. Court of Appeals on March 29 affirmed a bankruptcy court's ruling that a debtor's student loan debts were extinguished and held that the lender that tried to...
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7th Circuit: Discretion Not Abused, Debtors Cannot Avoid Property Lien
CHICAGO - A panel of the Seventh Circuit U.S. Court of Appeals on March 29 ruled that a debtor couple could not avoid a lien on their condominium and held that the bankruptcy and district courts had...
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10th Circuit: Tax Ruling Against Debtor Stands, Automatic Stay Not Violated
DENVER - A panel of the 10th Circuit U.S. Court of Appeals on March 28 ruled that a tax court properly upheld tax deficiency rulings against a debtor and said that doing so did not violate the...
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