Coldwater Creek Inc., a women’s clothing retailer that hasn’t posted an annual profit since 2007, filed for bankruptcy protection with a plan to start going-out-of-business sales in time for Mother’s Day.
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.
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.
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.