Creditors of bankrupt Dewey & LeBoeuf LLP asked a judge to approve payments of $1,055 an hour for their lawyer, Edward Weisfelner, in at least the 10th request for professionals to assist with the law firm’s liquidation.
The lawyer who helped craft a proposed $8.5 billion settlement with Bank of America Corp. over soured mortgages urged some of her biggest bondholder clients to oppose a more aggressive stance set forth by a rival attorney, Bloomberg News Jody Shenn and David McLaughlin report.
The leveraged buyout of Lyondell Chemical Co. in 2007 benefited the company’s board as well as billionaire Len Blavatnik, who gained $1.2 billion, according to a revised lawsuit brought by the company’s creditors.
Senior debt holders of Stuyvesant Town-Peter Cooper Village, Manhattan’s biggest rental complex, plan to proceed with an Oct. 4 foreclosure sale after a judge blocked a rival group’s move to take control of the apartments.
Pershing Square Capital Management LP and Winthrop Realty Trust’s $45 million investment in Manhattan’s Stuyvesant Town-Peter Cooper Village is in jeopardy after the companies failed to stop a planned foreclosure sale.
Pershing Square Capital Management LP and Winthrop Realty Trust said they have the right to proceed with their planned foreclosure auction for Manhattan’s Stuyvesant Town-Peter Cooper Village apartment complex.