Bankruptcy Court News
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California Public Employees’ Retirement System, the biggest U.S. public pension fund, is trying to ban a law firm from representing a creditor in the bankruptcy of the city of San Bernardino.
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James Packer, chairman of Australia’s biggest gambling company, and Crown Ltd. must defend themselves in a Las Vegas lawsuit alleging they hid cost overruns in a gaming development, an appeals court ruled.
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Patriot Coal Corp. can pay $6.9 million in bonuses to key employees, a judge said, rejecting a union’s claims that the payments wrongly benefit corporate insiders.
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Chemotherapy, radiation and the use of radioactive follow-up tests aren’t needed for some cancers, according to two studies that add to a growing debate on ways to lessen side effects and lower patient costs.
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Arcapita Bank BSC, an Islamic- compliant fund manager, won court permission to borrow $350 million from Goldman Sachs International to finance its exit from bankruptcy.
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Citigroup Inc. can be granted a $1.2 billion claim against Lehman Brothers Holdings Inc.’s defunct brokerage and will pay an affiliate of the Lehman parent $167 million to settle a dispute over amounts owed on foreign- exchange transactions, a judge ruled.
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Manatt, Phelps & Phillips LLP introduced Manatt Digital Media, an entity combining legal, consulting and investment services for digital-media, entertainment and advertising clients. It will be led by Los Angles partner T. Hale Boggs.
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Almost five years after Lehman Brothers Holding Inc. filed for bankruptcy and set off the global financial crisis, managers of the bank’s estate are demanding millions of dollars from retirement homes, colleges and hospitals.
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Residential Capital LLC and its biggest unsecured creditors signed a deal to free the mortgage company’s parent, Ally Financial Inc., from the threat of billions of dollars in bankruptcy-related lawsuits.
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Ally Financial Inc. reached a deal to avoid creditor lawsuits related to the company’s bankrupt mortgage arm, Residential Capital LLC, said Howard Seife, a lawyer for the court-appointed examiner investigating the two companies’ pre-bankruptcy relationship.
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