Opposing lawyers for Jefferson County, the debtor in the
largest Chapter 9 municipal bankruptcy case ever filed, and the holders of its
sewer warrants squared off last week in
the ongoing fight over control of the County's sewer system and the...
U.S. Bankruptcy Court Judge Thomas Bennett last month upheld
the Chapter 9 bankruptcy filing of Jefferson County, Alabama , the largest
municipal bankruptcy case in history. As has been widely reported, the
County's financial woes...
Judge Jed S. Rakoff this week denied the request of Irving Picard, the trustee of Bernard L.
Madoff Investment Securities LLC ("BLMIS") , to pursue an immediate appeal
Rakoff's recent decision to dismiss most of the counts set forth...
The travails of Jefferson County, Alabama are well known. Ordered by a federal court to upgrade its sewer system in the late 1990's, the project was marred by corruption, cost overruns and financing with complex derivatives that ultimately saddled...
The U.S. Supreme Court will rule this term in RadLAX
Gateway Hotel Inc. v. Amalgamated Bank on whether the Bankruptcy Code
permits a debtor in a chapter 11 case to sell encumbered assets without
providing the secured lender an opportunity to credit...
Series as exciting as any in memory ended two weeks ago. Notwithstanding
the end of the season, the Los Angeles Dodgers' chapter 11 case offered the
promise of more baseball-related thrills. Dodger's owner Frank McCourt and
Jed S. Rakoff last week largely sided with Fred Wilpon and Saul Katz, the
owners of the New York
Mets , and their families and affiliated enterprises (the "Wilpon/Katz
Group") on their motion to dismiss the adversary proceeding brought...