WILMINGTON, Del. - The attorney for the longtime future claimants' representative (FCR) in W.R. Grace and Co.'s bankruptcy case will now represent the claimants following the death of the FCR, a federal bankruptcy judge in Delaware ruled May 30 (In re: W.R. Grace & Co., et al., No. 01-1139, D. Del. Bkcy.).
PITTSBURGH - Seven days after issuing final rulings confirming the plan of reorganization for Chapter 11 debtor Pittsburgh Corning Corp. (PCC), Pennsylvania federal Bankruptcy Judge Judith K. Fitzgerald, who is retiring from the bench, on May 31 transferred the case to another bankruptcy judge (In re: Pittsburgh Corning Corporation, No. 00-22876, W.D. Pa. Bkcy.).
NEW YORK - The federal bankruptcy judge presiding over the Chapter 11 proceeding of AMR Corp., the parent company of American Airlines Inc., on May 31 ruled that the Federal Aviation Administration has allowed claims of more than $20 million against AMR and its affiliates (In Re: AMR Corp., No.11-15463, Chapter 11, S.D. N.Y. Bkcy.).
WASHINGTON, D.C. - A Chapter 7 debtor who asserts that a financial charge that was levied against his residential property should not be permitted because of the homestead exemption on May 29 filed an additional brief in the U.S. Supreme Court arguing that only the high court can solve the split that exists among circuit courts regarding the applicability of the exemption in question (Stephen Law v. Alfred Siegel, No. 12-5196, U.S. Sup.).
NEW YORK - A panel of the Second Circuit U.S. Court of Appeals on May 29 ruled that an affiliate of bankrupt The Great Atlantic & Pacific Tea Co. Inc. did not violate its lease by failing to get consent from its landlord to sublet part of its storefront to another business (Gator Monument Partners v. The Great Atlantic & Pacific Tea Company Inc. $(In Re: The Great Atlantic & Pacific Tea Company Inc.$), No. 12-3466, Chapter 11, 2nd Cir.; 2013 U.S. App. LEXIS 10741).
RIVERSIDE, Calif. - Creditor National Public Finance Guarantee Corp. on May 30 filed a brief opposing the motion of the California Public Employees' Retirement System (CalPERS) that seeks to disqualify a law firm in the Chapter 9 bankruptcy of the City of San Bernardino, Calif., on grounds that the firm switched sides in what parties it now represents. National contends that disqualification is warranted only in the "most extreme" cases (In Re: City of San Bernardino, Calif., No. 12-28006, Chapter 9, C.D. Calif. Bkcy.).
NEW YORK - The federal bankruptcy judge presiding over the Chapter 11 bankruptcy case of former law firm Dewey & LeBoeuf on May 30 approved a settlement valued at more than $19.5 million reached among the Dewey & LeBoeuf Liquidation Trust, XL Specialty Insurance Co. and Steven H. Davis, which resolves all claims held by the Liquidation Trust against Davis and XL (In Re: Dewey & LeBoeuf, No. 12-12321, Chapter 11, S.D. N.Y. Bkcy.).
NEW YORK - General Electric Capital Corp. (GECC) on May 29 moved in the U.S. Bankruptcy Court for the Southern District of New York for relief from the automatic stay in the Chapter 11 proceeding of Eastman Kodak Co. in order to pursue collection of more than $1.34 million in contract fees and damages pertaining to an aviation lease agreement between the parties (In Re: Eastman Kodak Company, No. 12-10202, Chapter 11, S.D. N.Y. Bkcy.).
WILMINGTON, Del. - Kinetic Systems Inc., a creditor of bankrupt alternative energy company Solyndra LLC, on May 29 moved in the U.S. Bankruptcy Court for the District of Delaware for a ruling that it could pursue collecting on $785 million in mechanics liens it holds against Solyndra (In Re: Solyndra LLC, No. 11-12799, Chapter 11, D. Del. Bkcy.).
NEW YORK - A group of investors on May 29 made a $275 million offer to buy bankrupt K-V Discovery Solutions Inc. (In Re: K-V Discovery Solutions Inc., No. 12-13346, Chapter 11, S.D. N.Y. Bkcy.).
NEW YORK - Bankrupt compounding pharmacy K-V Discovery Solutions Inc. on May 28 moved in New York federal bankruptcy court for approval of a $3 million settlement of claims asserted by the State of Texas related to alleged overpricing of medication (In Re: K-V Discovery Solutions Inc., No. 12-13346, Chapter 11, S.D. N.Y. Bkcy.).
NEW ORLEANS - The Firefighters Pension & Relief Fund of the City of New Orleans (FPRF) on May 24 filed a class action against the directors and officers of bankrupt ATP Oil & Gas, alleging that they violated securities laws by providing misleading information before filing for Chapter 11 bankruptcy (Firefighters Pension & Relief Fund of the City of New Orleans v. T. Paul Bulmahn, et al., No. 13-03935, E.D. La.).
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, that would be used as replacement financing to repay existing DIP financing (In Re: Arcapita Bank, No. 12-11076, Chapter 11, S.D. N.Y. Bkcy.).
RICHMOND, Va. - A panel of the Fourth Circuit U.S. Court of Appeals on May 24 affirmed a bankruptcy court's ruling and said assets the trustee claimed were fraudulently transferred could not be recovered (Grayson Consulting Inc. v. Wachovia Securities $(In Re: Derivium Capital LLC$), No. 12-1518, Chapter 7, 4th Cir.; 2013 U.S. App. LEXIS 10529).
NEW YORK - Bankrupt Eastman Kodak Co. on May 24 filed a brief in the U.S. Bankruptcy Court for the Southern District of New York arguing that the bankruptcy court should not allow a $258,968.43 administrative expense claim asserted by a firm Kodak hired to provide services related to underlying patent litigation because the firm failed to perform its duties under the contract (In Re: Eastman Kodak Company, No. 12-10202, Chapter 11, S.D. N.Y. Bkcy.).
NEW YORK - A panel of the Second Circuit U.S. Court of Appeals on May 28 reversed and remanded a bankruptcy court's ruling and determined that a creditor was entitled to have a $226,000 judgment she owes set off by her claim against the debtor's bankruptcy estate (Sally Ogden v. Ronald Ian Chorches $(In Re: Bolin & Co. LLC$), No. 12-1310, Chapter 7, 2nd Cir.; 2013 U.S. App. LEXIS 10614).
FORT WORTH, Texas - A creditor of Primcogent Solutions LLC, a distributor of a non-invasive body contouring laser, on May 27 filed a brief in the U.S. Bankruptcy Court for the Northern District of Texas objecting to Primcogent's motion seeking cash collateral on grounds that the money should not be approved because the company is litigating a contract dispute with the supplier that makes Primcogent's business operation possible in the first place (In Re: Primcogent Solutions LLC, No. 13-42368, Chapter 11, N.D. Texas Bkcy.).
WILMINGTON, Del. - The reorganized version of The Tribune Co. on May 24 filed a series of briefs objecting to assorted claims against the bankruptcy estate, most notably arguing that a $20 million claim asserted by the estate of Parren Mitchell, a former Maryland congressman, had expired (In Re: Tribune Company, No. 08-13141, Chapter 11, D. Del. Bkcy.).
NEW YORK - The U.S. trustee in the Chapter 11 bankruptcy of AMR Corp., the parent company of American Airlines Inc., on May 24 filed a brief objecting to the company's motion seeking approval of its disclosure statement on grounds that it violates the Bankruptcy Code (In Re: AMR Corporation, No. 11-15463, Chapter 11, S.D. N.Y. Bkcy.).
LOS ANGELES - The trustee in the Chapter 11 bankruptcy of GGW Brands LLC, the company that makes adult videos carrying the name "Girls Gone Wild," on May 23 filed a brief contending that GGW's founder cannot seek a stay of the bankruptcy court order authorizing him to force GGW Marketing LLC - an affiliate of GGW Brands - to file for Chapter 11 bankruptcy (In Re: GGW Brands LLC, No. 13-15130, Chapter 11, C.D. Calif. Bkcy.).
LOS ANGELES - The proposed counsel for GGW Marketing LLC, an affiliate of GGW Brands LLC - the maker of adult videos carrying the title "Girls Gone Wild" - on May 22 moved in the U.S. Bankruptcy Court for the Central District of California seeking to have its Chapter 11 case consolidated with that of GGW Brands after the trustee succeeded in forcing GGW Marketing to file for bankruptcy (In Re: GGW Marketing LLC, No. 13-23452, Chapter 11, C.D. Calif. Bkcy.).
NEW YORK - China Natural Gas Inc.(CNG) on May 22 moved in the U.S. Bankruptcy Court for the Southern District of New York for dismissal of an involuntary Chapter 11 bankruptcy petition filed by a member of the company's board of directors and a group of creditors on grounds that it was improperly filed (In Re: China Natural Gas Inc., No. 13-10419, Chapter 11, S.D. N.Y. Bkcy.).
NEW YORK - Bankrupt Residential Capital LLC on May 23 moved in the U.S. Bankruptcy Court for the Southern District of New York for authorization to enter into a settlement agreement with Ally Financial Inc. under which Ally would pay an additional $1.35 billion, for a total of $2.1 billion, to settle claims ResCap had against Ally (In Re: Residential Capital LLC, No. 12-12020, Chapter 11, S.D. N.Y. Bkcy.).
SAN FRANCISCO - A panel of the Ninth Circuit U.S. Court of Appeals on May 22 reversed a district court and held that a bankruptcy court's decision that a debtor was entitled to discharge of his student loan debt was proper (Michael Eric Hedlund v. The Educational Resources Institute Inc., No. 12-35258, Chapter 7, 9th Cir.; 2013 U.S. App. LEXIS 10294).
WILMINGTON, Del. - The foreign representatives of bankrupt computer chip maker Elpida Memory Inc. on May 22 moved in the U.S. Bankruptcy Court for the District of Delaware for an order enforcing Micron Technology Inc.'s 200 billion yen Japanese reorganization plan for the company (In Re: Elpida Memory Inc., No. 12-10947, Chapter 15, D. Del. Bkcy.).