Evan Flaschen

Cerberus, Innkeepers Settle Dispute Over Takeover With $1 Billion Deal

Cerberus Capital Management LP and Chatham Lodging Trust will pay $1.02 billion for 64 hotels of Innkeepers USA Trust after settling a dispute over whether the deal could be called off because of the U.S. economic slump.

Cerberus Said to Reach Settlement With Innkeepers on Takeover Deal Breach

Cerberus Capital Management LP reached a tentative settlement with Innkeepers USA Trust over claims that it breached an agreement to buy the hotel company, according to two people with knowledge of the discussions.

Dallas Stars, L.A. Dodgers Make Delaware Home Court for Sport Bankruptcies

Dallas Stars attorney Martin A. Sosland spurned Texas courts when he put the hockey team into bankruptcy this month, partly because of the way the Texas Rangers baseball club was treated by a hometown judge.

Tribune Step One Lenders Opposed to JPMorgan Alliance Drop Competing Plan

A group of Tribune Co. lenders who opposed the newspaper publisher’s alliance with JPMorgan Chase & Co. and two hedge funds withdrew its proposal to reorganize the company.

Innkeepers Hotel Operator Sues Cerberus, Chatham for Breach of Commitment

Innkeepers USA Trust, an operator of Residence Inns, Marriott hotels and Hampton Inns, sued Cerberus Capital Management LP and Chatham Lodging Trust, saying its agreement to sell 64 hotels to Cerberus and Chatham can’t be called off due to market conditions or a change in its business.

WaMu’s Bankruptcy Exit Rejected by Judge Over Lawsuit Releases

A federal judge rejected Washington Mutual Inc. ’s bid to end its bankruptcy and pay creditors more than $7 billion, saying the proposal guaranteed protection from lawsuits for too many parties.

Tribune Lender Group Drops Proposal, Opens Door for Rival Bankruptcy Plans

A group of Tribune Co. lenders dropped its reorganization plan for the newspaper publisher “unilaterally,” without settling their differences with the hedge funds behind competing proposals, its lawyer said.

Ambac Financial Group Files Bankruptcy to Restructure Bond Debt

Ambac Financial Group Inc. , a holding company for the bond insurer being restructured by state regulators in Wisconsin, filed for bankruptcy with liabilities of $1.68 billion as of June 30 on an unconsolidated basis.

Great American, Tiger Liquidators Said to Join Icahn in Blockbuster Bid

Billionaire Carl Icahn ’s offer for Blockbuster Inc. has attracted a second group of liquidators, Great American Group Inc. and Tiger Capital Group LLC, to join his auction bid for the bankrupt movie-rental company , two people familiar with the matter said.

"If the buyer's willing to pay less but it's still an acceptable price, you take that rather than risk it all in the litigation."

- Evan Flaschen on Oct 19, 2011

U.S. Bankruptcy Court

Manhattan

Delaware

New York

Jobless Claims in U.S. Unexpectedly Fall to Five-Year Low

Heart Patient Risk From iPad2 Found by 14-Year-Old

Yen Slides to 100 Per Dollar as S&P 500 Drops From Record

U.S. Stocks Fall as Investors Weigh Plosser Comments

Yen Weakens Past 100 Per Dollar for First Time in Four Years