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Format: 04-17-2014
April 17, 2014
The Judicial Conference of the United States has approved several bankruptcy related fee increases to take effect starting June 1. Based on the chapter, the cost to file will be: - Chapter 7: $335 - Chapter 13: $310 - Chapter 9, 11 and 15: $1,717 - Chapter 12: $275 The fee schedule changes project...
April 17, 2014
Sen. Richard Blumenthal (D-Conn.) said yesterday that bankruptcy judges should deny General Motors protection from liability claims tied to the safety recall of 2.6 million cars, the Detroit Free Press reported today. Blumenthal was responding to reports that GM plans to ask a bankruptcy judge for...
April 17, 2014
A U.S. safety regulator released new documents yesterday showing that General Motors Co. ordered a more robust ignition switch before the release of a new Cadillac, stemming from complaints the engine could turn off while driving when the ignition was bumped, the Wall Street Journal reported today...
April 17, 2014
The board of Detroit's General Retirement System yesterday approved economic terms of a settlement with the city that include cuts to pension benefits, putting in place another key component of Detroit's effort to exit bankruptcy by October, Reuters reported yesterday. The city also has reached a...
April 17, 2014
A federal judge yesterday said that a lawsuit filed by a former MF Global Holdings Ltd. futures customer against former Chief Executive Jon S.Corzine and other top officials could move forward but dismissed all claims against the failed brokerage's independent directors and investment firm J.C....
April 17, 2014
RadioShack Corp. is mired in negotiations with its lenders over plans to close as many as 1,100 stores, complicating the struggling consumer-electronics retailer's turnaround efforts, the Wall Street Journal reported today. The delay also is intensifying tensions with some lenders, who were...
April 17, 2014
The company behind the chemical spill that tainted the water supply of 300,000 people in West Virginia spent $1.9 million on attorneys and advisers in the first months of its bankruptcy case, the Wall Street Journal reported today. Freedom Industries Inc.’s lead bankruptcy law firm, McGuireWoods...
April 17, 2014
The Federal Reserve's New York office indicated to Citigroup Inc. that the bank would have more time to fix certain "stress test" planning problems before Fed officials in Washington, D.C., last month gave it a failing grade, the Wall Street Journal reported today. The divergent messages from...
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 $...