Headlines

Please note that in order to view the content for the Bankruptcy Headlines or the Bankruptcy Brief Newsletter you must either Login if you are already an ABI member, or otherwise you may Join ABI
Format: 10-24-2014
October 23, 2014
A restructuring expert testified in bankruptcy court yesterday that Detroit's relatively fast move through municipal bankruptcy has resulted in costly creditor settlements and too little emphasis on fixing the city's broken operations, Reuters reported yesterday. Still, Martha Kopacz, who was...
October 23, 2014
Three U.S. agencies signed off on relaxed mortgage-lending rules Wednesday, helping complete a long-stalled provision of the 2010 Dodd-Frank financial law, the Wall Street Journal reported today. The Federal Reserve, Securities and Exchange Commission and Department of Housing and Urban Development...
October 23, 2014
Texas tycoon Sam Wyly, who filed for bankruptcy this week, is trying to exhaust his fortune through exorbitant spending to impede the U.S. Securities and Exchange Commission's collection of a $198.1 million fraud claim against him, the regulator told a U.S. judge yesterday, Reuters reported. During...
October 23, 2014
Ultura (Oceanside) Inc., a developer of water-treatment products, filed a chapter 11 petition on Oct. 20 in Delaware to sell its membrane business to pre-bankruptcy lender UAC Finance Inc. in exchange for about $25 million of debt, absent a better bid at auction, Bloomberg News reported yesterday....
October 23, 2014
Specialty Products Holding Corp. and Bondex International Inc. may emerge from bankruptcy reorganization by year-end if the court approves a chapter 11 plan at a confirmation hearing set for Dec. 10, Bloomberg News reported yesterday. The two companies are units of Rust-Oleum maker RPM...
October 23, 2014
Attorneys have postponed a Delaware bankruptcy court hearing over Donald Trump’s fight to remove his name from a struggling New Jersey casino, the Associated Press reported yesterday. Trump is suing Trump Entertainment Resorts in New Jersey state court, demanding that the Trump name come off the...
October 23, 2014
The state of Washington's tobacco settlement authority says Lehman Brothers Holdings Inc. owes it nearly $40 million for a terminated swap agreement tied to money Lehman invested for it, Dow Jones Daily Bankruptcy Review reported today. In a court filing on Tuesday, lawyers for the tobacco...
October 23, 2014
A federal judge is set to decide whether to close out the case of a legally troubled oil drilling company in Kentucky, the Associated Press reported yesterday. Bankruptcy Judge Joan Lloyd will take up the case of Mammoth Resource Partners on Nov. 4 during a hearing in Louisville. The trustee for...
October 23, 2014
Robotics vehicle maker Seegrid Corp. has filed for chapter 11 protection after a battle over financing and control of the business left it unable to meet debt obligations, the Pittsburgh Post-Gazette reported today. The Findlay company, founded in 2003 by two Carnegie Mellon University robotic...
October 22, 2014
U.S. regulators yesterday issued a rule requiring banks that sell loans to investors to keep part of the risk on their own books, a measure aimed at preventing the sloppy loans that sparked the 2007-09 credit crisis, Reuters reported yesterday. The rule was mandated by the 2010 Dodd-Frank Wall...
October 22, 2014
Over the last two years, lawmakers in at least eight states have voted to increase the fees or the interest rates that lenders can charge on certain personal loans used by millions of borrowers with subpar credit, the New York Times reported today. This overhaul of certain state lending laws comes...
October 22, 2014
The U.S. judge overseeing Detroit's historic bankruptcy dropped hints on Tuesday on what he wants to hear in the city's closing statements and what he may be scrutinizing in creditor settlements, Reuters reported yesterday. The city's emergency manager also testified in federal court yesterday that...