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: 10-31-2014
October 31, 2014
Stockton, Calif., won court approval of its plan to exit bankruptcy by paying bond investors pennies on the dollar while shielding public pensions, in a case closely watched by other cities facing heavy retiree costs, Bloomberg News reported yesterday. “This plan, I’m persuaded, is the best that...
October 31, 2014
A bankruptcy judge in New Hampshire yesterday ordered the unsealing of papers spelling out, in detail, the reasons jilted Apple Inc. supplier GT Advanced Technologies Inc. filed for chapter 11 protection, the Wall Street Journal reported today. Apple sought to keep the information under wraps out...
October 31, 2014
A large group of creditors of MF Global Holdings Ltd.'s bankrupt brokerage unit will soon receive their first payout, as $518.7 million of checks start to be mailed out on Friday, the third anniversary of the company's chapter 11 filing, Reuters reported yesterday. James Giddens, the trustee...
October 31, 2014
Hedge fund manager Phil Falcone's efforts to hold onto a piece of his LightSquared wireless venture took a hit yesterday when a bankruptcy judge denied a request by his Harbinger Capital Partners to wipe out a lender group's $1.7 billion claim against a unit of the company, Reuters reported...
October 31, 2014
The U.S. Treasury says confidential information it got in the bailout of General Motors Co. should stay secret, otherwise at-risk companies needing government help in the future might not be willing to share data, Bloomberg News reported today. The Center for Auto Safety, now researching GM’s...
October 31, 2014
A bankruptcy judge signed off on C&S Wholesale Grocers Inc.'s $288 million purchase of Pennsylvania-based food distributor Associated Wholesalers Inc., Dow Jones Daily Bankruptcy Review reported today. Judge Kevin Carey approved the sale of Associated, a cooperative whose subsidiaries include...
October 31, 2014
Big banks in the U.S. and Europe are stockpiling billions to pay for a potential trans-Atlantic settlement of allegations that they manipulated foreign-exchange rates as talks heat up with regulators on both continents, the Wall Street Journal reported today. The possibility of a major deal soon,...
October 31, 2014
The shadow banking industry grew by $5 trillion to about $75 trillion worldwide last year, driven by lenders seeking to skirt regulations and investors searching for yield amid record low interest rates, Bloomberg News reported yesterday. The size of the shadow banking system, which includes hedge...
October 30, 2014
McGraw Hill Financial said yesterday that its Standard & Poor’s unit was in “active discussions” with federal and state regulators on a possible settlement over ratings on six commercial mortgage-backed securities issued in 2011, the New York Times DealBook blog reported today. The company...
October 30, 2014
The three-year-old U.S. consumer protection agency said that it discovered that the largest mortgage servicers have been mishandling loan modifications and harming borrowers since new rules came into effect in January, Bloomberg News reported yesterday. Consumer Financial Protection Bureau...
October 30, 2014
For the previous three fiscal years and into the current one, with public services languishing and ready cash scarce, Stockton, Calif., officials have spent nearly $16.3 million and budgeted another $25 million for costs associated with Stockton’s chapter 9 bankruptcy, the Stockton Record reported...
October 30, 2014
The U.S. Court of Appeals for the Ninth Circuit ruled the $203 million judgment awarded by U.S. District Judge William Alsup is based on "substantial evidence" that Wells Fargo & Co. made misleading statements about its policies for charging overdraft fees, the Recorder reported today. "The...