The Bernard Madoff trustee, who will try to reinstate hundreds of lawsuits through an appeal to be argued March 5 in Manhattan, had his chances of success dealt a blow last week when the U.S. Supreme Court decided a case involving R. Allen Stanford’s Ponzi scheme.
Philip Falcone’s LightSquared Inc. persuaded a judge to let it go forward with a bankruptcy plan that will punish Dish Network Corp. Chairman Charles Ergen, a creditor and onetime bidder for the wireless company, if he doesn’t go along.
Philip Falcone’s LightSquared Inc. proposed a bankruptcy plan that would punish Dish Network Corp. Chairman Charles Ergen, a creditor and onetime bidder for the wireless company, if he doesn’t go along.
LightSquared Inc.’s plan to exit bankruptcy shouldn’t be allowed because it gives a fund linked with Dish Network Corp. Chairman Charles Ergen two “worthless” options, singling it out for treatment that is much worse than other creditors, the fund said.
A foreign company enlisting the assistance of U.S. courts under Chapter 15 of the Bankruptcy Code is barred from terminating licenses of U.S. patents, according to an opinion by the U.S. Court of Appeals in Richmond, Virginia.
Detroit’s proposal to restructure its $18 billion of debt by paying pensioners at more than twice the rate of some municipal bondholders threatens to increase borrowing costs for localities throughout Michigan.
Exide Technologies creditors are seeking to hire an antitrust expert to determine whether the bankrupt battery maker was the victim of a lead price-fixing scheme, citing probes of similar claims involving aluminum.