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Format: 04-16-2014
April 16, 2014
General Motors wants to delay a federal judge in San Francisco from ruling on a class-action case until a bankruptcy judge in New York decides whether the company is shielded from all product liability claims tied to crashes or defects before it exited bankruptcy in July 2009, the Detroit Free...
April 16, 2014
Detroit reached its first deal with a retired workers group yesterday over pension and health care benefits and was close to a deal with at least one of its pension funds, giving a major boost to the city's plan to exit bankruptcy in October, Reuters reported yesterday. Momentum for the city's plan...
April 16, 2014
The banks being sued by Lehman Brothers Holdings Inc. in a long-simmering derivatives fight say that Lehman is seeking an "undue advantage" in the litigation by prohibiting the banks from seeking a dismissal without first receiving class-action status, Dow Jones Daily Bankruptcy Review reported...
April 16, 2014
Bank of America Corp. said today that it settled mortgage-backed securities claims with the monoline insurer Financial Guaranty Insurance Co. (FGIC), the Wall Street Journal reported today. The bank said that it had settled seven of the nine trust settlements and expected to pay a total of about $...
April 16, 2014
As the rest of the housing industry recovers, a little-known firm with a key role in U.S. mortgage finance remains stuck in limbo, wrestling with regulators, lawsuits and the departures of senior employees, Bloomberg News reported today. The turbulence feeds uncertainty about the fate of Mortgage...
April 16, 2014
Efforts to restructure Energy Future Holdings are progressing, albeit slowly, as the embattled Texas utility moves toward an expected bankruptcy filing, Reuters reported yesterday. The company said in a U.S. Securities and Exchange Commission filing yesterday that talks will continue and...
April 16, 2014
Mt. Gox, once the world's biggest bitcoin exchange, is likely to be liquidated after a Tokyo court dismissed the company's bid to resuscitate its business, the court-appointed administrator said today, Reuters reported. CEO Mark Karpeles is also likely to be investigated for liability in the...
April 15, 2014
Ongoing negotiations between the city of Detroit and its creditors in bankruptcy court delayed the scheduled rollout today of the city’s budget, the Detroit Free Press reported today. The City Council scheduled a public hearing yesterday for Emergency Manager Kevyn Orr to present a spending plan...
April 15, 2014
LightSquared says that it was right to keep Dish Network Corp. Chairman Charlie Ergen out of its restructuring plans, claiming it is "not required to negotiate with a competitor in its capital structure" even if that competitor owns nearly $1 billion of the company's debt, the Wall Street Journal...
April 15, 2014
The owners of 1,700 below-market apartments in New York City have struck a deal with their lenders and the state attorney general's office to rescue the portfolio from foreclosure and bring in new management, the Wall Street Journal reported yesterday. The so-called Three Borough Pool was the...
April 15, 2014
For rent and utilities to be considered affordable, they are supposed to take up no more than 30 percent of a household’s income, but that goal is increasingly unattainable for middle-income families as a tightening market pushes up rents ever faster, outrunning modest rises in pay, the New York...
April 15, 2014
Coldwater Creek Inc. won court approval to borrow $42 million to finance operations while the women’s clothing retailer prepares for going-out-of-business sales at its more than 370 stores, Bloomberg News reported yesterday. The loan from current lender Wells Fargo & Co. will allow the company...

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