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: 04-16-2014
September 14, 2012
Jefferson County, Ala., could balance its 2013 fiscal year budget by once again defaulting on its general obligation debt, the Birmingham (Ala.) News reported today. Jefferson County Commission President David Carrington proposed that the county default again on its next general obligation debt...
September 14, 2012
Moody's Investors Service said that confirmation of Central Falls' bankruptcy plan has a positive effect on other Rhode Island cities because it establishes a way out of bankruptcy that spares general obligation bondholders, Reuters reported yesterday. The city won court approval on Sept. 6 for its...
September 14, 2012
Commercial and industrial loans outstanding jumped 14 percent to $1.45 trillion in July, the latest month for which figures are available, from a year earlier on a seasonally adjusted basis, according to the Federal Reserve, the Wall Street Journal reported today. The growth rate is twice as fast...
September 14, 2012
Richard Cordray, director of the Consumer Financial Protection Bureau, faced renewed questions yesterday about the legitimacy of his agency, the Washington Post reported today. Cordray, in a semiannual report to the Senate Banking Committee, touted the bureau’s accomplishments in drafting rules to...
September 14, 2012
Upstate New York ski resort Greek Peak received the bankruptcy court's approval to access bankruptcy financing being provided by the Federal Deposit Insurance Corp. (FDIC), a situation the agency called "unprecedented" in court documents, Dow Jones DBR Small Cap reported today. Bankruptcy Judge...
September 14, 2012
Bankrupt Hollywood special-effects company Digital Domain Media Group Inc. said that its lenders have agreed to provide about $11.8 million of debtor-in-possession financing, Reuters reported yesterday. Private equity firm Searchlight Capital, which has agreed to buy most of Digital Domain,...
September 14, 2012
Russell Wasendorf Sr., the jailed executive of collapsed brokerage Peregrine Financial Group Inc., will not be able to pocket money from any book or movie deal about his scheme to defraud clients, according to details in a plea agreement, the Wall Street Journal reported today. The plea deal,...
September 14, 2012
A lawyer for the failed Reserve Primary Fund told the federal judge presiding over a lawsuit filed by the U.S. Securities and Exchange Commission that he was hopeful the parties may come to a settlement in the case, Bloomberg News reported yesterday. The SEC sued managers of Reserve Primary in May...
September 14, 2012
Laura Pendergest Holt, the former chief investment officer for Stanford Financial Group Co., was sentenced to three years in prison for obstructing a U.S. Securities and Exchange Commission probe of a $7 billion Ponzi scheme at the company, Bloomberg News reported yesterday. Pendergest Holt was...
September 13, 2012
AMR Corp.'s American Airlines won bankruptcy court approval of new cost-cutting labor agreements with unions for flight attendants and mechanics, which will get equity stakes in the airline, Bloomberg News reported yesterday. Six-year contracts were approved Bankruptcy Judge Sean Lane, who said...
September 13, 2012
Bankruptcy Judge Brendan L. Shannon yesterday approved a quick auction of Hollywood special-effects company Digital Domain Media Group Inc , but said that he may reconsider what he called an "unprecedented" schedule setting up next week's sale, Reuters reported yesterday. The company that won an...
September 13, 2012
Bankruptcy Judge Carol A. Doyle ruled that Peregrine Financial Group Inc.'s liquidating trustee can consider bulk offers for futures client accounts from other commodities firms, Bloomberg News reported yesterday. While Judge Doyle agreed with Trustee Ira Bodenstein's position that futures client...