Headlines

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Format: 04-26-2015
January 2, 2015
Mario M. Cuomo, the three-term governor of New York who commanded the attention of the country with a compelling public presence died yesterday at the age of 82, the New York Times reported today. Mario Cuomo led New York during a turbulent time, 1983 through 1994. His ambitions for an activist...
December 31, 2014
In the latest settlement struck by Howrey trustee Allan Diamond, a group of former Howrey leaders and a law firm that initially advised the defunct firm on its bankruptcy have agreed to pay $1.85 million, the Wall Street Journal reported today. The deal will see Wiley Rein LLP (whose restructuring...
December 31, 2014
Detroit's historic bankruptcy, which officially ended earlier this month, cost the city nearly $178 million in fees and expenses for teams of lawyers and consultants, according to a city court filing yesterday, Reuters reported. Jones Day, Detroit's lead law firm for the biggest-ever municipal...
December 31, 2014
The traditional measures of nonrepayment — delinquencies and defaults — might be fine for most types of loans, but not for outstanding student loans, nearly all of which are held or backed by the federal government, according to a commentary in today’s Wall Street Journal. Lawmakers have provided...
December 31, 2014
Bankruptcy Judge Gloria Burns said yesterday that she would approve a $26 million settlement between Atlantic City and the Revel Casino Hotel that will provide much-needed cash for New Jersey's struggling gambling hub and a tax cut for the shuttered gambling complex, Reuters reported yesterday....
December 31, 2014
The New Hampshire company that fell into bankruptcy following a failed deal with Apple Inc. is asking to pay millions in bonuses to its senior executives, the Wall Street Journal reported today. GT Advanced Technologies Inc. says it needs to keep the identities of those in line for bonuses secret...
December 31, 2014
Two hedge funds are suing Delphi Automotive PLC accusing the auto-parts supplier of failing to pay up to $300 million promised to creditors as part of its bankruptcy plan, Dow Jones Daily Bankruptcy Review reported today. In a lawsuit filed on Monday in bankruptcy court, Solus Alternative Asset...
December 31, 2014
Morgan Stanley is in talks with the U.S. to resolve an investigation into the bank’s creation and sale of mortgage-backed bonds, the latest in a string of Wall Street cases tied to the 2008 financial crisis, Bloomberg News reported yesterday. An agreement could be reached within the first few...
December 31, 2014
Tengion Inc.’s struggle to stay afloat ended today when the Winston-Salem, N.C.-based regenerative-medicine company filed for voluntary chapter 7 bankruptcy protection, the Winston-Salem Journal reported today. The company said in a regulatory filing that a bankruptcy trustee will be appointed by...
December 31, 2014
Real estate investment trusts were among the hottest stocks of the year, propelled to their biggest gains in nearly a decade by low interest rates and an improving economy, the Wall Street Journal reported today. REITs, which own properties as diverse as office buildings, apartments and warehouses...
December 30, 2014
East Cleveland, a city of 17,000 people, is considering whether to file for municipal bankruptcy, which would be a first for an Ohio municipality, the Columbus Dispatch reported today. The Cleveland suburb has been under a state-ordered fiscal emergency since 2012, which means a fiscal commission...
December 30, 2014
Municipal bankruptcy is in Detroit’s rearview mirror, but a new challenge looms: a wave of foreclosure notices for unpaid property taxes, the Wall Street Journal reported yesterday. After years of delay, Wayne County, which includes Detroit, is informing residents in an estimated 35,000 occupied...