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: 10-24-2014
September 19, 2014
Home loans to lower-income Americans are dwindling as federal regulators and major banks continue to haggle over who pays when riskier mortgages go bad, Bloomberg News reported today. Federal Housing Administration loans, given to borrowers with weaker credit scores and requiring small down...
September 19, 2014
Less than two months after entering Chapter 11 protection, Eagle Bulk Shipping Inc. won court approval yesterday of a reorganization plan that cuts $975 million in debt from its balance sheet, the Wall Street Journal reported today. The approval from Bankruptcy Judge Sean Lane largely concludes...
September 19, 2014
Thomas Jefferson School of Law is scrambling to restructure its debt after blowing a bond payment deadline, the Wall Street Journal reported today. The downtown San Diego private law school has disclosed in a financial filing that it failed to meet its entire debt obligations in June. But an...
September 19, 2014
An examiner will be appointed to conduct an investigation into the bankruptcies of two affiliates of troubled Indianapolis-based developer HDG Mansur, the Indianapolis Business Journal reported today. HDGM Advisory Services LLC and HDG Mansur Investment Services Inc., which manage Shariah-compliant...
September 19, 2014
TelexFree LLC’s bankruptcy advisers will forgo more than $1 million in fees they charged during the short time they worked for the company, which has since been accused of operating a massive pyramid scheme, the Wall Street Journal reported today. To head off objections from the U.S. Securities and...
September 19, 2014
A group of lenders to LodgeNet---a hotel Internet and technology provider that filed for chapter 11 bankruptcy last year and sped through the process in two months---are suing the reorganized company and other lenders, saying that a subsequent restructuring is "intended to eviscerate" their rights...
September 19, 2014
LightSquared blew through $81.4 million in August, and Philip Falcone's wireless venture has now lost $1.6 billion since it filed for bankruptcy in May 2012, the Wall Street Journal reported today. The loss was $30 million more than the company spent in July, mostly attributed to a reuse fee it had...
September 19, 2014
Imagenetix Inc., a San Diego-based company developing over-the-counter topical creams, skincare products and nutritional supplements, announced that its reorganization plan was confirmed and that all provisions of the plan were approved by Bankruptcy Judge Margaret Mann with an effective date of...
September 18, 2014
Sen. Elizabeth Warren (D-Mass.) promised yesterday to keep pushing for student loan legislation after a bill allowing borrowers to refinance their debts failed to come up for a vote this week, Collections & Credit Risk reported today. The Bank on Students Emergency Loan Refinancing Act was...
September 18, 2014
Virginia Attorney General Mark R. Herring on Tuesday announced a $1.15 billion lawsuit against 13 of the nation’s biggest banks, accusing them of misleading a state retirement fund about the quality of bonds made up of residential mortgages, the Washington Post reported yesterday. The lawsuit,...
September 18, 2014
Two fraudulent online payday lending operations based in the Kansas City area have been temporarily shut down after being sued by federal authorities, Collections & Credit Risk reported today. Combined, the two schemes allegedly bilked at least $36 million, and likely substantially more, from...
September 18, 2014
A federal bankruptcy judge has rejected West Virginia American Water Company’s effort to block a class-action settlement between Freedom Industries and thousands of victims of January’s Elk River chemical spill, the Charleston (W.Va.) Gazette reported today. Bankruptcy Judge Ronald Pearson approved...