Two lawyers have spent much of the past decade defending Argentina in front of the same U.S. judge in dozens of lawsuits arising from the South American country’s 2001 default on $95 billion in sovereign debt.
Discount retailer Loehmann’s Inc. received approval from the bankruptcy court for a commitment agreement allowing its reorganization plan to be partly financed with a new $25 million investment from current owner Istithmar World PJSC and Whippoorwill Associates Inc.
Fairfield Greenwich Group, the hedge fund that steered $7 billion to Bernard Madoff, faces new claims of fraud by investors who previously alleged negligence against co-founders Walter Noel, Jeffrey Tucker and Andres Piedrahita.
Almatis BV, a producer of specialty alumina products, filed a prepackaged Chapter 11 reorganization early this morning in New York where senior secured creditors led by an affiliate of Oaktree Capital Management LLC will take ownership in exchange for debt.
Settlements allowing the U.S. government, GSO Capital Partners and other parties to share recoveries from imprisoned ex-lawyer Marc Dreier’s $700 million Ponzi scheme need changes before they can be approved, a judge ruled.
Dechert LLP won an appeal dismissing a suit by Fortress Investment Group LLC that claimed the law firm issued a false opinion letter endorsing a transaction with Marc Dreier, the lawyer later convicted of fraud.
Almatis BV, a producer of specialty alumina products, filed an agreement on July 23 underpinning a revised reorganization plan that will allow the Chapter 11 case to end consensually and avoid a protracted battle between senior and junior secured creditors.
Spencer Dreier, the son of convicted ex-lawyer Marc Dreier, testified that after his father’s 2008 arrest for fraud, his college roommates bet on how long he would take their taunting before he left school.
Robert L. Miller, who once worked as a lawyer with the U.S. Securities and Exchange Commission, was sentenced to two years’ probation for helping New York law firm founder Marc Dreier defraud hedge funds.
Spencer Dreier, whose father, Marc Dreier, is serving a 20-year sentence for cheating hedge funds out of $400 million, agreed with an ex-roommate to drop mutual claims of assault and defamation tied to a dorm-room fight.