Headlines

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Format: 09-30-2014
September 29, 2014
A Michigan state panel on Friday approved four bond deals worth up to $1.1 billion which are needed for the city of Detroit to emerge from bankruptcy, plus the sale of city-owned land parcels needed for a new public bridge to Canada, the Lansing State Journal reported on Saturday. The Detroit City...
September 29, 2014
Aiming to restrict lenders who prey on members of the military, the Obama administration on Friday moved to close legal loopholes that have placed hundreds of thousands of service members at risk of excessive payday and other short-term loan fees, the Associated Press reported. The Defense...
September 29, 2014
Lehman Brothers Holdings Inc. is suing Raymond James Financial Inc. to recover more than $2 million it says it is owed related to an old swap agreement, the Wall Street Journal reported on Saturday. The lawsuit is part of an effort by the failed investment bank to recover funds lost when firms on...
September 29, 2014
A bankruptcy trustee looking to recover money for those affected by a deadly 2013 train derailment has turned his attention to more than a dozen companies that may have played a role in the accident, Dow Jones Daily Bankruptcy Review reported today. In court filings on Thursday, Robert Keach, the...
September 29, 2014
The trial to consider claims by Maurice “Hank” Greenberg’s against the U.S. government in AIG’s 2008 bailout begins today as David Boies, Greenberg’s litigator, will question the architects of the bailout, including Ben Bernanke, Henry Paulson and Timothy Geithner, Bloomberg News reported today....
September 29, 2014
As Washington, D.C., and Wall Street sound early alarms on a potential tech bubble, a Morning Consult poll shows those living on the West Coast, the home of Silicon Valley, are the most confident that the historic spending is happening on solid ground. Federal Reserve chairwoman Janet Yellen warned...
September 29, 2014
Merger negotiations between Boston law firm Bingham McCutchen LLP and the larger Morgan, Lewis & Bockius LLP are entering a critical phase, the Wall Street Journal reported today. Morgan Lewis has identified a group of roughly two dozen Bingham partners whose participation is necessary for a...
September 26, 2014
The Detroit City Council unanimously approved a resolution yesterday that would keep a state-appointed emergency manager in control of the city's historic bankruptcy case, while returning city governing powers to elected officials, Reuters reported yesterday. Shortly after the vote, Mayor Mike...
September 26, 2014
The Pension Benefit Guaranty Corp. announced on Wednesday that it will take over the defined benefit plan of James River Coal Co., the agency announced Wednesday, PIOnline.com reported yesterday. The Richmond, Va.-based mining operation, which includes 33 subsidiary companies, filed for chapter 11...
September 26, 2014
A bankruptcy judge in West Virginia told the company behind a disastrous chemical spill on the Elk River that it must prioritize its dwindling resources to clean up the site of the contamination while holding down its legal expenses, Dow Jones Daily Bankruptcy Review reported today. Freedom...
September 26, 2014
Bankruptcy Judge Howard Tallmanhas dismissed the case of a Denver marijuana business owner, saying that although his activities are legal under Colorado law, he is violating the federal Controlled Substances Act, the Denver Post reported yesterday. The case is at least the second such one involving...
September 26, 2014
U.S. Bancorp, the nation’s largest regional lender, agreed to pay $57 million to settle regulatory claims that some of its account holders were unfairly billed for identity-theft protection products, Bloomberg News reported today. The lender’s U.S. Bank unit will provide $47.9 million in...