Mealeys

Recent Posts

Bankruptcy Judge Stays All Litigation Pending Against City Of Detroit
Posted on 25 Jul 2013 by Mealeys

DETROIT - The federal bankruptcy judge presiding over the Chapter 9 case of the City of Detroit on July 25 granted the city's request and ordered all lawsuits pending against the city stayed (In Re: City of Detroit, No. 13-53846, Chapter 9, E.D. Mich... Read More

5th Circuit: Bankruptcy Court Ruling Stands; Conflict Not A 'Disqualifying' Issue
Posted on 30 Mar 2012 by Mealeys

NEW ORLEANS - A panel of the Fifth Circuit U.S. Court of Appeals on March 29 ruled that a bankruptcy court did not abuse its discretion in ruling that a law firm's conflict of interest was not a "disqualifying adverse interest" and, therefore... Read More

DirecTV Files Complaint With FCC Over Bankrupt Tribune's Alleged Contract Failure
Posted on 4 Apr 2012 by Mealeys

WASHINGTON, D.C - DirecTV LLC filed a complaint with the Federal Communications Commission on April 2, contending that bankrupt Tribune Co. is reneging on its broadcast carriage agreement between the two companies, resulting in millions of DirecTV customers... Read More

U.S. Trustee: ResCap Fails To Provide Details On $7.8M In Bonus Payments
Posted on 5 Apr 2013 by Mealeys

NEW YORK - The U.S. trustee in the Chapter 11 bankruptcy of Residential Capital (ResCap) LLC on April 3 filed a brief in the U.S. Bankruptcy Court for the Southern District of New York objecting to ResCap's plan to pay $7.8 million in bonuses to various... Read More

Detroit Says Automatic Stay Should Cover Operations Of 36th District Court
Posted on 16 Oct 2013 by Mealeys

DETROIT - The bankrupt City of Detroit on Oct. 15 filed a brief in the U.S. Bankruptcy Court for the Eastern District of Michigan arguing that the Bankruptcy Court should extend the automatic stay to cover funding for the operation of the 36th District... Read More

Nebraska Book Company: Chapter 11 Plan Proposed In Good Faith
Posted on 22 Mar 2012 by Mealeys

WILMINGTON, Del. - Bankrupt Nebraska Book Co. (NBC) on March 21 filed a brief in the U.S. Bankruptcy Court for the District of Delaware, contending that its Chapter 11 reorganization plan was proposed in good faith and complies with the Bankruptcy Code... Read More

3rd Circuit: Settlement Was Not Reached In Error In Bankruptcy Case
Posted on 18 Apr 2012 by Mealeys

PHILADELPHIA - A panel of the Third Circuit U.S. Court of Appeals on April 17 affirmed a bankruptcy court's ruling that approved a settlement between a company's bankruptcy estate and a party against whom the estate had a claim, ruling that no... Read More

3rd Circuit: Lender Entitled To $10M Belonging To Debtor's Subsidiary
Posted on 9 Aug 2013 by Mealeys

PHILADELPHIA - A panel of the Third Circuit U.S. Court of Appeals on Aug. 8 affirmed a bankruptcy court and ruled that a lender was entitled to recover a bank account worth $10 million that belonged to the wholly owned subsidiary of the debtor corporation... Read More

Arcapita Bank Seeks $175M In Additional Financing To Exit Chapter 11 Bankruptcy
Posted on 29 May 2013 by Mealeys

NEW YORK - Bankrupt Arcapita Bank B.S.C. on May 28 moved in the U.S. Bankruptcy Court for the Southern District of New York for authorization to obtain an additional $175 million in post-petition financing, also called debtor-in-possession (DIP) financing... Read More

CalPERS: San Bernardino Fails To Meet Burden Of Eligibility For Bankruptcy
Posted on 5 Jun 2013 by Mealeys

RIVERSIDE, Calif. - The California Public Employees' Retirement System (CalPERS) on June 3 filed a status report in the Chapter 9 bankruptcy of the City of San Bernardino, Calif., in which it claims that "it appears that the bankruptcy case was... Read More

Bankruptcy Judge: Stay Lifted; Insurers May Pay MF Global Defense Costs
Posted on 2 May 2012 by Mealeys

NEW YORK - The federal bankruptcy judge presiding over the Chapter 11 proceeding of MF Global Holdings Ltd. (MFGH) on April 30 declined to grant a stay requested by a group of wealth management companies that objected to the bankruptcy court's decision... Read More

Kodak: Digital-Imaging Patent Ruling Was In Error; Federal Circuit Should Reverse
Posted on 13 Dec 2012 by Mealeys

WASHINGTON, D.C. - Bankrupt Eastman Kodak Co. on Dec. 10 filed a brief in the Federal Circuit U.S. Court of Appeals arguing that the International Trade Commission (ITC) erred when it affirmed an administrative law judge's (ALJ) ruling that Kodak's... Read More

7th Circuit Reverses; Debtor Company Entitled To Damages From Employee's Breach
Posted on 27 Jun 2013 by Mealeys

CHICAGO - A divided panel of the Seventh Circuit U.S. Court of Appeals on June 26 reversed and remanded a district court ruling and a bankruptcy court ruling and held that a company aided and abetted an employee of a bankrupt company in breaching his... Read More

Kodak Retirees Committee: Section 1114 Order Should Be Changed To Protect Benefits
Posted on 22 Jun 2012 by Mealeys

NEW YORK - The Official Committee of Retired Employees of Eastman Kodak Co. on June 21 moved in the U.S. Bankruptcy Court for the Southern District of New York for reconsideration of the court's order to appoint a Section 1114 Committee (In Re: Eastman... Read More

City Of San Bernardino's Bankruptcy Evidence 'Inadmissible,' CalPERS Says
Posted on 13 Sep 2013 by Mealeys

RIVERSIDE, Calif. - The California Public Employees' Retirement System (CalPERS) on Sept. 11 filed a brief in the U.S. Bankruptcy Court for the Central District of California disputing the City of San Bernardino's findings of fact on grounds they... Read More

  • Blog Post: Bank Tells U.S. Supreme Court Chapter 11 Collateral Sale Must Allow Bidding

    WASHINGTON, D.C. - A creditor bank argues that the Bankruptcy Code precludes confirmation of a hotel chain's Chapter 11 plan that proposes to sell collateral free and clear of liens without allowing the bank to credit bid, according to the bank's brief that the U.S. Supreme Court posted to the...
  • Blog Post: AMR, Claimants Agree To Modify Stay To Allow Injury Claims Against Insurer

    NEW YORK - Bankrupt AMR Corp., the parent company of American Airlines, on March 9 entered an agreement with three creditors under which the automatic stay will be modified for a limited purpose to allow for the resolution of injury claims the creditors have against the airline (In Re: AMR Corporation...
  • Blog Post: 5th Circuit: Doctors Of Bankrupt Medical Group Have Valid Insurance Claim

    NEW ORLEANS - A panel of the Fifth Circuit U.S. Court of Appeals on March 9 ruled that a lawsuit against an insurance company that was brought by two doctors whose medical practice filed for Chapter 11 bankruptcy was valid despite statute of limitations objections by the insurer (Aetna Life Insurance...
  • Blog Post: Group Seeks Committee To Represent All Retirees In Kodak Bankruptcy

    NEW YORK - An advocacy organization representing the interests of retirees from bankrupt Eastman Kodak Co. on March 13 filed a brief in the U.S. Bankruptcy Court for the Southern District of New York, objecting to Kodak's motion seeking authorization to terminate nonvested Medicare enhancement benefits...
  • Blog Post: Creditors Committee Objects To Financing Order In Grubb & Ellis Bankruptcy

    NEW YORK - The Official Committee of Unsecured Creditors in the Chapter 11 bankruptcy of Grubb & Ellis on March 13 filed a brief in the U.S. Bankruptcy Court for the Southern District of New York objecting to the debtor-in-possession (DIP) financing plan proposed by the debtor, arguing that post...
  • Blog Post: Bankruptcy Court Approves Ambac Financial Group's Chapter 11 Reorganization Plan

    NEW YORK - The federal bankruptcy judge in the U.S. Bankruptcy Court for the Southern District of New York presiding over the Chapter 11 proceeding of Ambac Financial Group Inc. on March 14 ordered that the reorganization plan satisfied the Bankruptcy Code, clearing the way for Ambac to emerge from bankruptcy...
  • Blog Post: Following Foreclosure On $90M Secured Loan, Granite Dells Files For Chapter 11

    PHOENIX - Real estate company Granite Dells Ranch Holdings LLC filed for Chapter 11 bankruptcy on March 13 in the U.S. Bankruptcy Court for the District of Arizona as one of its creditors foreclosed on a $90 million secured loan and called for the appointment of a receiver (In Re: Granite Dells Ranch...
  • Blog Post: Creditors Say Lyondell Owes Damages For Breaching Settlement Agreement

    NEW YORK - The couple who filed a $1.5 million proof of claim in the Chapter 11 bankruptcy proceeding of Lyondell Chemical Co. related to an alleged settlement agreement, on March 13 filed an amended claim in the U.S. Bankruptcy Court for the Southern District of New York, contending that Lyondell breached...
  • Blog Post: 5th Circuit: Creditor Not Permitted To File Late Proof Of Claim

    NEW ORLEANS - A panel of the Fifth Circuit U.S. Court of Appeals on March 13 ruled that a bankruptcy court properly denied a creditor's motion to file a late proof of claim, concluding that the creditor missed the deadline simply because it failed to monitor the case (Bank of America v. Allen Capital...
  • Blog Post: Bankruptcy Judge Lifts Stay In Tribune Fraudulent Conveyance Actions

    WILMINGTON, Del. - The federal bankruptcy judge presiding over the Chapter 11 proceeding of the Tribune Co. in the U.S. Bankruptcy Court for the District of Delaware on March 15 ordered the partial lifting of the automatic stay relating to fraudulent conveyance actions to allow parties to comply with...
  • Blog Post: U.S. Solicitor General Tells Supreme Court Creditor Must Be Allowed To Bid

    WASHINGTON, D.C. - In an amicus brief made available March 15, the U.S. solicitor general argues that the U.S. Supreme Court should find that in the absence of good cause, a Chapter 11 bankruptcy plan may not sell encumbered property fee and clear of the lien of a nonconsenting secured creditor without...
  • Blog Post: Federal Judge: $40M Rothstein Adversary Case Stays In Bankruptcy Court

    WEST PALM BEACH, Fla. - A federal judge in Florida on March 16 remanded to bankruptcy court a $40 million adversary proceeding brought by the Chapter 11 trustee of bankrupt law firm Rothstein Rosenfeldt & Adler (RRA). The trustee alleges that hedge fund managers capitalized on a Ponzi scheme run...
  • Blog Post: Kodak: Bankruptcy Court Needs 2nd Investigation Of Apple's Patent Claims

    NEW YORK - Bankrupt Eastman Kodak Co. on March 19 filed a brief in the U.S. Bankruptcy Court for the Southern District of New York, arguing that Apple's assertion that it owns 10 patents that Kodak claims as its own requires an investigation under the Federal Rules of Bankruptcy Procedure (In Re...
  • Blog Post: U.S. Trustee: MF Global Trustee Cannot Retain His Own Firm As Accountant

    NEW YORK - The U.S. trustee on March 19 filed a brief in the U.S. Bankruptcy Court for the Southern District of New York, contending that the Chapter 11 trustee of MF Global Holdings Ltd., Louis J. Freeh, cannot retain his own firm as his accountant (In Re: MF Global Holdings Ltd., No. 11-15059, Chapter...
  • Blog Post: 5th Circuit Reverses; Law Was Wrongly Applied To Debtor's Recovery Claim

    NEW ORLEANS - A panel of the Fifth Circuit U.S. Court of Appeals on March 20 reversed and remanded a lawsuit filed by a debtor seeking to recover funds it paid to a lender, ruling that the district court erroneously applied Georgia law when New York law should have been used (MC Asset Recovery LLC v...
  • Blog Post: AMR, Creditors Modify Automatic Stay; Couple May Pursue Injury Claim

    NEW YORK - Bankrupt AMR Corp., the parent company for American Airlines, on March 20 agreed to modify the automatic stay to allow a creditor couple to pursue a personal injury claim against the company (In Re: AMR Corporation, No. 11-15463, Chapter 11, S.D. N.Y. Bkcy.). Lexis.com subscribers may access...
  • Blog Post: Nebraska Book Company: Chapter 11 Plan Proposed In Good Faith

    WILMINGTON, Del. - Bankrupt Nebraska Book Co. (NBC) on March 21 filed a brief in the U.S. Bankruptcy Court for the District of Delaware, contending that its Chapter 11 reorganization plan was proposed in good faith and complies with the Bankruptcy Code (In Re: Nebraska Book Company, No. 11-12005, Chapter...
  • Blog Post: MF Global Creditor Wants To Pursue Claim Funds Transferred Inappropriately

    NEW YORK - A creditor who had invested money with bankrupt MF Global Holdings Ltd. moved March 20 in the U.S. Bankruptcy Court for the Southern District of New York for leave to appeal to prosecute the debtor for inappropriately transferring futures accounts he had with the company before the bankruptcy...
  • Blog Post: Getty Seeks Authority To Reject Unexpired Leases For Nearly 1,000 Properties

    NEW YORK - Bankrupt Getty Petroleum Marketing Inc. (GPMI) on March 21 filed a motion in the U.S. Bankruptcy Court for the Southern District of New York seeking an order rejecting certain residential property leases to maximize the value of its bankruptcy estate (In Re: Getty Petroleum Marketing Inc....
  • Blog Post: Beacon Power Seeks Mediator For Fee Dispute Related To Bankruptcy Sale

    WILMINGTON, Del. - Bankrupt power company Beacon Power Corp. on March 23 moved in the U.S. Bankruptcy Court for the District of Delaware for the appointment of mediator in its Chapter 11 proceeding (In Re: Beacon Power Corporation, No. 11-13450, Chapter 11, D. Del. Bkcy.).
  • Blog Post: Beyond Oblivion's Creditors Object To Sale Of Licensing Agreements

    WILMINGTON, Del. - Creditors of bankrupt digital music company Beyond Oblivion Inc. on March 22 field a brief in the U.S. Bankruptcy Court for the District of Delaware objecting to the sale of the company (In Re: Beyond Oblivion Inc., No. 12-10282, D. Del. Bkcy.).
  • Blog Post: Apple Tells U.S. Trade Agency Kodak Fails To State Claim For Patent Infringement

    NEW YORK - Apple Inc., which contends that bankrupt Eastman Kodak Co. infringed on its patent for digital photography, on March 23 filed a brief with the U.S. International Trade Commission (ITC) denying Kodak's claim that Apple has engaged in unfair competition (In the Matter of Certain Electronic...
  • Blog Post: Major League Baseball: Dodgers' Plan Contains 'Impermissible' Releases

    WILMINGTON, Del. - The Office of the Commissioner of Major League Baseball on March 23 filed a brief in the U.S. Bankruptcy Court for the District of Delaware contending that the bankrupt Los Angeles Dodgers' joint amended plan of reorganization contains releases and an injunction that are "impermissible"...
  • Blog Post: Trustee's Action To Recover Fraudulent Transfers Is Valid, Bankruptcy Judge Affirms

    WILMINGTON, Del. - The bankruptcy judge presiding over the Chapter 11 proceeding of DBSI Inc. in the U.S. Bankruptcy Court for the District of Delaware on March 23 denied a motion to dismiss a Chapter 11 trustee's lawsuit for the recovery of fraudulent transfers, arguing that the defendant did not...
  • Blog Post: Bankruptcy Judge Approves $54.5M Sale Of Grubb & Ellis

    NEW YORK - The bankruptcy judge presiding over the Chapter 11 proceeding of bankrupt realtor Grubb & Ellis Co. in the U.S. Bankruptcy Court for the Southern District of New York on March 27 approved the sale of the company's assets to BGC Partners Inc. for $54.5 million (In Re: Grubb & Ellis...