Nancy Rapoport

Lehman Seeks Order Blocking Government Taxes on Deals

Lehman Brothers Holdings Inc., which is selling assets to pay creditors another $32 billion by 2016, asked a judge to sign an order barring governments from taking taxes on any deals it strikes with buyers.

Madoff Trustee Doubles Investor-Loss Estimate From Judge’s Ruling on Mets

The liquidator of Bernard Madoff’s bankrupt firm more than doubled his estimate of how much investors may lose if he can’t overturn a judge’s ruling that dismissed much of his $1 billion claim against the owners of the New York Mets.

U.S. Bankruptcy Filings Fall to Second-Highest Level Since 2005 Changes

U.S. bankruptcy filings by individuals and businesses fell in April to the second-highest level since changes to the law in 2005 made it harder for individuals to seek protection from creditors.

Mets Ruling Would Give Madoff Family $82 Million, Trustee Says

Bernard L. Madoff’s family would keep about $82 million of “other investors’ money” under a ruling that limited a bankruptcy trustee to claiming from the owners of the New York Mets only two years of withdrawals from the Ponzi scheme, according to a court filing.

MF Had $190 Million of Insurance for Corzine, Professionals

MF Global Holdings Ltd.’s insurance unit issued $190 million of liability policies for Jon Corzine, other professionals and the company through May to cover costs of defending against allegations of wrongdoing, according to a court filing.

BP May Saddle Asset Buyers With Suits as Claims Rise

BP Plc may saddle potential buyers of its assets with lawsuits as Europe’s second-biggest oil company tries to raise money to pay claims that may reach $100 billion from the Gulf of Mexico spill, lawyers said.

Rakoff Asked to Move 400 Madoff Suits as Deadline Passes

HSBC Holdings Plc, UniCredit SpA and Merrill Lynch joined more than 400 defendants in lawsuits brought by the liquidator of Bernard L. Madoff’s brokerage filing papers in the past week to beat a deadline for asking that their cases be moved to district court from bankruptcy court.

MF Brokerage Trustee Traced $105 Billion in Cash Movements in Final Week

A trustee’s investigation found that the $1.2 billion in missing MF Global Inc. customer funds began to flow out of the brokerage on Oct. 26, five days before its collapse, as computers and employees fell behind margin calls and demands for collateral.

MF Global Parent Sued by Fired Employees

MF Global Holdings Ltd. and its broker-dealer face at least three lawsuits from former employees who said they were terminated without cause and seek to recover 60 days’ wages and benefits.

MF Global Brokerage’s Wind-Down Fees May Reach $100 Million in a Year

Fees for liquidating the MF Global Inc. broker-dealer may reach $100 million in a year, based on lawyers’ estimates and costs to wind down two other brokerages, Lehman Brothers Inc. and Bernard Madoff’s firm.

"My guess is, to the extent Judge Rakoff has the Madoff cases, he'll rule consistently with his previous limits."

- Nancy Rapoport on Apr 03, 2012

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Yen Maintains Loss as G-7 Tolerates Drop; S&P Futures Decline

Airbus Said Close to Order for 25 Planes From Kuwait Airways

Gold Bears Pull $20.8 Billion as BlackRock Says Buy: Commodities

‘Iron Man 3’ Tops Movie Sales Again With $72.5 Million

Gates Backs Obama Administration Handling of Benghazi