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.
A bankruptcy judge refused to dismiss a $346 million claim by Lehman Brothers Holdings Inc.’s brokerage against Royal Bank of Scotland Group Plc, saying he would “retain jurisdiction to hear and determine all matters” arising from his order.
MF Global Inc.’s trustee should be forced to account for expenses he has racked up liquidating the commodity brokerage, said a creditor that claims the case has cost more than $263 million in professional fees.