Headlines

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Format: 10-25-2014
March 14, 2013
Kevin DeSanctis, the man who guided Atlantic City's Revel casino-hotel through its tortuous development, only to see it struggle amid the cutthroat East Coast gambling market, is stepping down as head of the $2.4 billion resort, the Associated Press reported yesterday. The company announced...
March 14, 2013
Someone who bought stock in American Airlines last year already made a killing. Stock that could have been bought in November for less than 40 cents a share is now trading above $4, for reasons explained on the video with Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill...
March 13, 2013
Kevyn Orr, a partner in Washington, D.C. with the law firm Jones Day, is expected to be named as Detroit’s emergency financial manager by Michigan Governor Rick Snyder this week, Reuters reported yesterday. Orr has wide experience in business restructuring and a reputation as a calm leader who...
March 13, 2013
The House Judiciary Subcommittee on Regulatory Reform, Commercial and Antitrust Law will hold a hearing today 2:30 p.m. ET to review H.R. 982, the "Furthering Asbestos Claim Transparency (FACT) Act of 2013" introduced by Rep. Blake Farenthold (R-Texas). The bill requires asbestos trusts to publish...
March 13, 2013
Bankrupt San Bernardino is threatening to sue the state of California over demands it owes millions of dollars in property taxes, Reuters reported today. In letters dated February 21 and March 4, the California Department of Finance demanded the city pay $15.2 million in property taxes related to...
March 13, 2013
Looking to resolve lawsuits involving Heller Ehrman LLP, a San Francisco law firm that dissolved in September 2008, a federal judge has ruled that firms who hired away Heller's partners must fork over profits generated by work that partners started at their old law firm, the Wall Street Journal...
March 13, 2013
Homeowners with underwater mortgages in U.S. states worst-hit by foreclosures are leading refinancings after the government expanded programs to aid borrowers, strengthening the weakest link in the housing recovery, Bloomberg News reported today. In Nevada, where property values fell by half in the...
March 13, 2013
Bank of America Corp. asked a New York appeals court to overturn portions of a lower-court ruling that improved bond insurer MBIA Inc.'s chances of recovering losses on mortgage loans, Bloomberg News reported yesterday. The bank's Countrywide unit argued in a court hearing that State Supreme Court...
March 13, 2013
Fisker Automotive Inc., the struggling maker of $100,000 sports cars powered by lithium ion batteries, is in talks with A123 Systems' new owner on a revamped battery-supply deal while sparring with the portion of the battery maker's estate left behind in bankruptcy, Dow Jones Daily Bankruptcy...
March 13, 2013
The American International Group's former chief executive is moving ahead with a lawsuit against the federal government over its $182 billion rescue of the insurer—even without the backing of the company itself, the New York Times DealBook blog reported yesterday. AIG's former leader, Maurice R....
March 13, 2013
While she received a friendly reception during two hours of testimony, the Senate Banking Committee grilled Mary Jo White, the nominee for SEC chair, on her regulatory agenda, demanding that White create new rules for Wall Street that take aim at financial fraud, the New York Times DealBook blog...
March 13, 2013
The operator of parking garages at the new Yankee Stadium, which have not generated enough revenue to pay $240 million in tax-exempt debt, has hired bankruptcy attorneys, according to a securities filing, Bloomberg News reported yesterday. Bronx Parking Development Corp. will pay Willkie Farr...