Information on San Antonio Bankruptcy, San Antonio Injury, & San Antonio Real Estate Law
Banks charged of neglecting the signs of Madoff’s fraud have triumphed in a U.S. federal court, as a bankruptcy judge ruled that the trustee cannot pursue the majority of his claims seeking money for investors of the massive fraud. New York federal Judge Jed Rakoff’s decision can potentially impede trustee Irving Picard in trying to [...]
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Los Angeles Dodgers was ordered by a bankruptcy judge to consider the Major League Baseball’s loan proposal. The loan proposal which Dodgers owner Frank McCourt wants to choose was rejected by Delaware Bankruptcy Judge Kevin Gross. According to the judge, McCourt’s choice of loan will only serve his personal interest. In addition, the financing arrangement [...]
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Major League Baseball has denied Los Angeles Dodgers’ accusations that it caused the baseball team’s bankruptcy and said that it is the owner of the team who attempted to get $20 million of the team’s funds before the filing of Chapter 11 protection. The league accused Frank McCourt, the Dodgers’ team owner, of filing bankruptcy [...]
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Paulson & Co. was given extra time to raise the payout on five luxury resort hotels it operates after the bankruptcy court judge granted the extension. Hedge fund Paulson, which often invests in bankrupt and distressed businesses, bought the equity in the resort hotels in January from Morgan Stanley Real Estate through a foreclosure auction. [...]
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Invaluable patents of networking and broadband produced by Nortel Networks are going to be sold next week, and technology titans including Intel, Apple, and Google are going on the list of potential buyers. Nortel will put up 6,000 patents and patent application on sale in one of the company’s last asset sales. Its wide ranging [...]
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The supreme court of New York revived a case filed by various huge banking institutions objecting on the bond insurer MBIA Inc’s 2009 reorganization, which the banks deemed as unfair to policyholders. The order enables HSBC Holdings Plc, Wells Fargo & Co and Bank of America Corp to go after claims that the reorganization had [...]
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College bookstore operator Nebraska Book Co filed for bankruptcy protection to reorganize its financial debt due to dropping sales and losing customers since many buyers buy online. The hundred years old bookstore chain filed for a prearranged Chapter 11 bankruptcy. It included seven of its affiliates. The bankruptcy filing is similar to the Borders Group [...]
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A judge in Delaware gave permission to Harry & David Holdings to forward their bankruptcy exit plan for creditors voting towards the month end of July. Harry & David, a gift basket company, won Judge Mary Walrath’s approval in a U.S. Bankruptcy Court hearing in Delaware on Friday, according to court papers filed. The bankruptcy [...]
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The Los Angeles Dodgers received a court’s endorsement to loan $60 million for payroll on Tuesday, though the team consumed its day one in bankruptcy dealing with Major League Baseball. The money will be used to pay for salary, which includes its players’ pay, as it tries to work out its long-term expenses with the [...]
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Innkeepers’ stage of bankruptcy exit has been laid down as its USA Trust’s proposal to sell off the majority of it hotels for $1.12 billion was given a tentative confirmation by a judge on Thursday. U.S. Bankruptcy Court Judge Shelley Chapman endorsed the sale plan, which had the approval of most of its creditors after [...]
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