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.
Blockbuster Inc. , the movie rental chain, received final authority from the bankruptcy judge yesterday to pay pre-bankruptcy claims of movie companies, regardless of whether the claims are secured or unsecured. Blockbuster sought the right to pay claims to assure a continuing supply of new movies.
Gordon Brothers Group LLC, a Boston- based liquidation, lending and investment firm, is interested in purchasing assets of U.K. retailer HMV Group Plc that may become available as part of a restructuring process, according to a person familiar with the matter.
Coldwater Creek Inc., the women’s clothing retailer, won bankruptcy court approval of an agreement with liquidators Hilco Merchant Resources LLC and Gordon Brothers Retail Partners LLC to run going-out-of-business sales at its more than 370 stores starting May 8.
Ford Motor Co. joined the U.S. Chamber of Commerce in seeking transcripts of a trial in which a bankruptcy judge ruled the “impropriety of some law firms” representing asbestos personal-injury plaintiffs led to “unfairly inflating recoveries against” Garlock Sealing Technologies LLC, a unit of EnPro Industries Inc.
Coldwater Creek Inc., the women’s clothing retailer, won bankruptcy court approval to hold going- out-of-business sales at its more than 370 stores ahead of Mother’s Day, a key sale period for the company.