Arthur Gonzalez News
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Ally Financial Inc. may owe $25 billion to unsecured creditors of its bankrupt Residential Capital LLC unit, the creditors said in court papers seeking to sue Ally.
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Covington & Burling LLP sought to overturn a judge’s ruling disqualifying the firm from working for Minnesota on a lawsuit alleging 3M Co. polluted state waters.
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A court-ordered investigation in Residential Capital LLC’s bankruptcy case is estimated to cost $82.75 million, more than double an earlier calculation by the former judge leading the probe.
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Borders Group Inc. , the second- biggest U.S. bookstore chain, won bankruptcy court approval to liquidate 200 stores in a deal that may bring in $175 million to creditors.
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Philadelphia Newspapers LLC is aiming to put the company up for auction again next week after the Teamsters union blocked a court-approved sale of the publisher of the Philadelphia Inquirer and Philadelphia Daily News to secured lenders.
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Truvo USA LLC, a bankrupt directory publisher, must to wait to move forward with its restructuring plan after a judge said he will postpone ruling on whether creditors can begin voting on it.
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Daimler AG won dismissal of a lawsuit brought by Chrysler LLC’s creditors that blames a buyout by Cerberus Capital Management LP for the U.S. carmaker’s 2009 bankruptcy.
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Managers of the Reserve Primary Fund, the $62.5 billion money-market fund whose collapse set off an industrywide run by investors, committed fraud by failing to provide key material facts to investors and trustees, the U.S. Securities and Exchange Commission said in a complaint.
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Black Diamond Capital Management LLC won court permission to buy assets of GSC Group Inc., an investment-management firm in bankruptcy.
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Borders Group Inc. , the second- biggest U.S. bookstore chain, is taking competing bids to liquidate 200 of its stores after winning court permission on its first day in bankruptcy to draw on a $505 million loan.
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