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Format: 11-25-2014
November 25, 2014
An attorney for Detroit said that the city is eying a date between Dec. 8 and 10 for its debt adjustment plan to take effect, allowing the city to exit the biggest-ever municipal bankruptcy, Reuters reported yesterday. Heather Lennox, Detroit's attorney with law firm Jones Day, told U.S. Bankruptcy...
November 25, 2014
Three former leaders of defunct law firm Dewey & LeBoeuf accused of falsifying the company's financial results cannot go to trial in January because an insurance company has refused to pay their latest legal bills, their lawyers told a judge on Friday, Reuters reported yesterday. Justice Robert...
November 25, 2014
NII Holdings Inc. yesterday announced a restructuring deal that would put the company in the hands of its bondholders, Dow Jones Daily Bankruptcy Review reported today. The Latin American Nextel Carrier said that the deal has the support of its major creditors, including hedge-fund manager Aurelius...
November 25, 2014
LDK Solar Co., the Chinese solar-cell maker that defaulted on its bonds this year, won U.S. court approval of its foreign restructuring, capping an international reorganization, Bloomberg News reported yesterday. The restructuring “is believed to be the first judicially approved, multi-...
November 25, 2014
The Federal Reserve Bank of New York’s legal advisers sought to devise ways to avoid accountability to shareholders in the 2008 bailout of American International Group Inc. (AIG), according to evidence introduced at the end of trial testimony over terms of the rescue, Bloomberg News reported today...
November 25, 2014
A large California pension fund is searching for a new investment chief amid concerns about an outside firm’s investment strategy, the latest clash between public retirement systems and external advisers, the Wall Street Journal reported today. The board of San Diego County Employees Retirement...
November 25, 2014
The Financial Industry Regulatory Authority (Finra) yesterday fined Citigroup $15 million for failing to adequately supervise its research analysts’ interactions with the bank’s clients, the New York Times reported today. In one example cited by Finra, Citigroup hosted “idea dinners” for...
November 25, 2014
Two additional deaths have been attributed to a faulty ignition switch in General Motors Co. vehicles, bringing the total to 35, according a report yesterday from the lawyer overseeing a program to compensate for deaths and accidents linked to the part, Reuters reported yesterday. As of Friday, the...
November 24, 2014
The Consumer Financial Protection Bureau is proposing additional measures to ensure, it says, that homeowners are treated fairly by mortgage servicers, HousingWire.com reported on Friday. The proposed measures include: 1. Extending borrower protections Right now, a mortgage servicer must give the...
November 24, 2014
Six years after Bernard Madoff’s fraud collapsed, the cost of liquidating his defunct investment advisory firm to repay thousands of victims has topped $1 billion, though the con man’s former customers aren’t footing the bill, according to a Bloomberg News analysis on Friday. The fees, paid by the...
November 24, 2014
Trump Entertainment Resorts Inc., the bankrupt owner of the Trump Taj Mahal, offered to restore health insurance to its employees for at least two years in a last-ditch bid to keep the Atlantic City casino open, Bloomberg News reported on Saturday. In a letter dated on Friday, Trump Chief Executive...
November 24, 2014
Lawyers representing Atlantic City, N.J.'s Revel Casino Hotel will meet with a handful of its creditors today to try to salvage a deal to sell the shuttered boardwalk resort to a Canadian private-equity firm, the Dow Jones Daily Bankruptcy Review reported today. The lawyers announced the meeting at...

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