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.
Dissident unsecured creditors of Syms Corp. laid out a theory yesterday of why the bankruptcy court can’t approve the Chapter 11 reorganization plan coming up for approval at an Aug. 29 confirmation hearing in U.S. Bankruptcy Court in Delaware.
Philadelphia Newspapers LLC , the publisher of the Philadelphia Inquirer and Philadelphia Daily News, will be the subject of a June 24 confirmation hearing for approval of the reorganization plan where pre-bankruptcy secured lenders will take ownership.
At the height of Ireland’s real- estate boom five years ago, Mervyn Chamney failed with an 8 million-euro ($11 million) bid for land 16 miles from Dublin. Last month, he bought the site for about 550,000 euros.
Movie Gallery Inc. doesn’t need to offer a breakup fee if a selected liquidator loses an auction for the right to sell its assets, a group of other prospective liquidators told the bankruptcy judge yesterday.