Headlines

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Format: 10-25-2014
October 9, 2014
The union for more than 1,100 workers at Atlantic City, N.J.’s Trump Taj Mahal casino who are rallying to save their health-care and pension benefits are now fighting in two places: in the courtroom and on the streets, the Wall Street Journal reported today. Several hundred protesters plan to block...
October 9, 2014
U.S. prosecutors are pressing to bring charges against a bank for currency-rate rigging by the end of the year, and actions against individuals will probably follow in 2015, Bloomberg News reported yesterday. The Justice Department may seek guilty pleas from several firms, including at least one in...
October 9, 2014
American International Group Inc.’s unique set of risks was seen by one of the primary orchestrators of its rescue as requiring tough conditions that included the government’s taking most of the insurer’s stock, Bloomberg News reported yesterday. The fight over whether those terms were fair is set...
October 9, 2014
The hackers who raided the data banks of JPMorgan Chase & Co. used computers now linked to possible attacks on at least 13 more financial companies, Bloomberg News reported yesterday. More than a month after the JPMorgan hack was made public, it’s now clear that the perpetrators had attempted a...
October 9, 2014
Apple Inc. supplier GT Advanced Technologies Inc. asked a U.S. bankruptcy court to keep under seal some key documents relating to a third-party, saying this would allow it to avoid paying damages under confidentiality agreements, Reuters reported yesterday. GT Advanced did not disclose the identity...
October 9, 2014
Giants Stadium LLC is urging a judge to allow $600 million-plus in claims against Lehman Brothers Holdings Inc. related to interest-rate swaps used to finance the East Rutherford, N.J., football stadium, Dow Jones Daily Bankruptcy Review. In a partially redacted filing in bankruptcy court on...
October 9, 2014
A Canadian court yesterday said that it would approve U.S. Steel Corp's debtor-in-possession (DIP) financing facility for the company's Canadian unit, Reuters reported. Not all parties and creditors that had raised objections to the structure of the DIP facility have consented, but they have opted...
October 8, 2014
An affiliate of Brookfield Asset Management got court approval to buy Atlantic City, N.J.’s shuttered Revel Casino Hotel for $110 million in cash on Tuesday after a judge rejected complaints the auction for the bankrupt complex was tainted, Reuters reported yesterday. "I have heard evidence to...
October 8, 2014
Timothy Geithner, one of the highest-ranking government officials during the financial crisis, testified in federal court yesterday that he thought a failure of American International Group Inc. would have had catastrophic consequences, the Wall Street Journal reported today. He conceded that he...
October 8, 2014
A New York real estate lender has agreed to provide the financing Chicago Spire developer Garrett Kelleher needs to pull the failed condominium project out of bankruptcy, Crain’s Chicago Business reported yesterday. New York-based Stonebeck Capital LLC sent a commitment letter to provide a loan to...
October 8, 2014
Payment processor New Beginnings NY Inc. and owner Kenneth Newton agreed to pay $71,640 to settle charges brought by the New York attorney general's office that the company withdrew money from consumers' bank accounts for identity theft protection that was never provided, CollectionsCreditRisk.com...
October 8, 2014
A bankruptcy judge has ruled that while Marc Dreier should testify at an upcoming trial, the imprisoned ex-lawyer can’t do so in his courtroom, the Wall Street Journal reported yesterday. The attorney winding down Dreier’s old law firm wants Dreier to appear in a New York courtroom to bolster her...