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Format: 04-19-2014
April 18, 2014
Bankruptcy Judge Steven Rhodes brought the idea of a regional water authority for Detroit back to life yesterday, ordering the city and three counties to mediate over the issue, Reuters reported yesterday. The order by Judge Rhodes comes after Detroit said in a court filing earlier this week that...
April 18, 2014
Detroit’s “divide-and-conquer” campaign to build support for its plan to shrink $18 billion in debt with a recent series of creditor accords may put pressure on holdouts to settle before a bankruptcy judge decides to push it through, lawyers following the case said, Bloomberg News reported...
April 18, 2014
General Motors Co.’s move to freeze ignition-defect lawsuits in California and Texas has solid legal precedent behind it and could help slash customer demands for compensation by billions of dollars, Bloomberg News reported yesterday. GM asked federal judges in both states last week to delay...
April 18, 2014
A federal judge ruled that General Motors Co. doesn’t have to take the unprecedented step of telling car owners that 2.59 million vehicles it recalled are unsafe to drive until faulty ignition switches are fixed, Bloomberg News reported yesterday. U.S. regulators are better able than courts to tell...
April 18, 2014
The U.S. Department of Energy displayed a "lack of guidance" in how it dealt with millions of dollars in loan guarantees to now-bankrupt Abound Solar Manufacturing, the agency's internal watchdog said in a report, Reuters reported yesterday. The DOE in recent years has tried to help commercialize...
April 18, 2014
The Archdiocese of Milwaukee won a victory in its bankruptcy case yesterday when U.S. Bankruptcy Judge Susan V. Kelley agreed to move forward with a key document that, once approved, would put the local church one step closer to exiting its 3-year old chapter 11 proceedings, the Milwaukee Journal-...
April 18, 2014
With no other offers on the table, plus-size women's clothing retailer Ashley Stewart said on Wednesday that it plans to cancel a scheduled bankruptcy auction and sell its assets to lead bidder Clearlake Capital Group, the Wall Street Journal reported yesterday. Clearlake, a private-equity firm...
April 18, 2014
The trustee unwinding Peregrine Financial Group cut a deal to pay 30 cents on the dollar to a former foreign exchange customer, a settlement he hopes to apply to thousands of other customers, Dow Jones Daily Bankruptcy Review reported today. Trustee Ira Bodenstein in a court filing on Wednesday...
April 18, 2014
The Securities and Exchange Commission has filed charges against a Massachusetts telephone-marketing company for allegedly running a Ponzi scheme that targeted primarily Dominican and Brazilian immigrants, the Wall Street Journal reported today. The agency claims TelexFree Inc. and TelexFree LLC...
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...

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