Headlines

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Format: 10-31-2014
October 16, 2014
After a historic settlement in clergy sex abuse lawsuits in Minnesota, the Archdiocese of St. Paul and Minneapolis, along with the Diocese of Winona, said that they were considering all options to pay for the settlement, including bankruptcy, WCCO.com reported yesterday. Experts say that if their...
October 16, 2014
Bankruptcy Judge Christopher Sontchi has approved Energy Future Holding’s plan to award $20 million in bonuses to top executives despite objections from the U.S. Trustee’s office, the Dallas Morning News reported today. Judge Sontchi said at a hearing yesterday that the bonus programs met legal...
October 16, 2014
Global Naps Inc. sought chapter 11 bankruptcy protection Tuesday, years after being placed into a receivership to satisfy a court loss to Verizon New England Inc., Dow Jones Daily Bankruptcy Review reported today. Bankruptcy court papers estimate assets of $10 million to $50 million and debts of $...
October 16, 2014
General Motors Co. has been hit with its biggest lawsuit so far over serial recalls, brought on behalf of drivers of 27 million vehicles seeking more than $10 billion in compensation for fallen car prices, Bloomberg News reported yesterday. The would-be class action against GM seeks to represent...
October 16, 2014
Former American International Group Inc. Chief Executive Officer Edward Liddy will face key questions on the witness stand in a trial over claims that shareholders were cheated of at least $25 billion in the insurer’s bailout, Bloomberg News reported today. The U.S. had a hand in everything from...
October 16, 2014
A northeast Arkansas county fair association says that it will pay all of its creditors and seek bankruptcy protection, the Associated Press reported yesterday. The Craighead County Fair Association operates the annual Northeast Arkansas District Fair. The Jonesboro Sun reports that it's almost $10...
October 16, 2014
A Colorado wolf sanctuary filed for bankruptcy, blaming the devastation from the High Park wildfire that scorched roughly a third of the 162-acre property where its 30 wolves roam, the Wall Street Journal reported today. Sanctuary officials had to leave the nonprofit’s LaPorte, Colo., property for...
October 15, 2014
A settlement with Financial Guaranty Insurance Co, the last major holdout creditor in Detroit's historic bankruptcy case, is close and could be announced tomorrow, Reuters reported yesterday. Detroit's attorney, Thomas Cullen at law firm Jones Day, told Bankruptcy Judge Steven Rhodes that the two...
October 15, 2014
Ailing battery maker Exide Technologies could be up for sale before Christmas if it can't come to terms with key creditors on a chapter 11 bankruptcy-exit plan, Dow Jones Daily Bankruptcy Review reported today. Lenders have agreed to extend the maturity date on bankruptcy financing, but required...
October 15, 2014
Mortgage lenders and housing investors are squaring off in Nevada over a court decision that has allowed thousands of foreclosed homes to be sold for pennies on the dollar, in a case that could have big implications on an already-tight home-loan market across the country, the Wall Street Journal...
October 15, 2014
New York’s highest court weighed in yesterday on a dispute over a plan by a bankruptcy trustee to sell the rent-stabilized apartment of an 80-year-old East Village woman to her landlord, the Wall Street Journal reported today. Arguments before the Court of Appeals focused on whether such leases...
October 15, 2014
The Doomsday Book, a collection of legal opinions that describe and delineate the Federal Reserve’s ability to fight financial crises, along with a variety of related documents, has popped into public view because a group of investors suing the government over the terms of the AIG bailout say some...