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.
Movie Gallery Inc. , the video rental chain that began shuttering its stores in February, asked for bankruptcy court permission to auction off trademarks for Hollywood Video, Movie Gallery, Game Crazy and Reel.com.
Secured lenders to Thompson Publishing Holding Co. won’t be able to control the auction for the publisher of newsletters and loose-leaf services, as the result of rulings by U.S. Bankruptcy Judge Peter Walsh at a hearing this week.
The official creditors’ committee for newspaper publisher Tribune Co. wants authority from the bankruptcy judge to sue Sam Zell and company officers, directors and advisers who were responsible for what the group calls the “ruinous LBO transaction” in 2007.
Almatis BV, a producer of specialty alumina products, scheduled what should be an uncontested approval of a revised reorganization plan at a Sept. 20 hearing after the bankruptcy court in New York approved the explanatory disclosure statement yesterday, the company said in a statement.
The bankruptcy judge for the Texas Rangers professional baseball club had barely given formal approval yesterday for auction procedures before secured lenders filed a motion asking for reconsideration.
Neff Corp ., a closely held equipment- rental company with 63 branches in 14 U.S. states, began a prepackaged Chapter 11 reorganization yesterday in New York, with holders of $90 million on a first-lien term loan to own most of the new equity.
Trident Resources Corp . brought a nine-month reorganization to fruition yesterday when the bankruptcy judge signed a confirmation order approving the Chapter 11 plan for the independent natural gas production and development company. The plan was unopposed.