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.
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.
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.
Mt. Gox Co., the Bitcoin exchange that filed for bankruptcy in Tokyo after millions of dollars’ worth of virtual currency vanished from customer accounts, won a temporary halt to lawsuits it faces in the U.S.
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.
Dissident Syms Corp. creditors are dissatisfied with the plan negotiated by the official creditors’ committee and intend to block approval of the reorganization plan in bankruptcy court at the Aug. 29 confirmation hearing.
Current rules on banking regulation should be supplemented by a “special cross-border bankruptcy code” to strengthen the industry’s resilience in case of a credit squeeze, former Swiss central bank president Philipp Hildebrand, who will join BlackRock Inc. as vice chairman Oct. 1, said at an event in Singapore today.