GSI Group Inc. , a provider of laser- based systems to aid manufacturing, reported the results of the rights offering accompanying the Chapter 11 plan the bankruptcy judge approved in a May 27 confirmation order.
Midway Games Inc .’s creditors’ committee agreed to take $1 million to settle remaining claims against owner Sumner Redstone and companies he controls. The settlement is set for approval in bankruptcy court on June 23.
George R. Hodges , a U.S. Bankruptcy Judge in Charlotte, North Carolina, must decide whether to cede control of part of the reorganization of Garlock Sealing Technologies LLC to a bankruptcy judge in Delaware.
Brown Publishing Co., publisher of Dan’s Papers, the largest-circulation local newspaper on eastern Long Island, New York, filed for bankruptcy, citing a decline in advertising liked to the real estate market.
Innkeepers USA Trust didn’t properly carry out its duties to creditors, U.S. Bankruptcy Judge Shelley C. Chapman ruled last week. Chapman refused to approve an agreement that would have compelled Innkeepers, a real estate investment trust, to pursue a reorganization plan giving the stock to a subsidiary of Lehman Brothers Holdings Inc.
The partnership that owns the Texas Rangers professional baseball club filed a so-called prepackaged Chapter 11 reorganization yesterday in Forth Worth, Texas, to sell the operation in a transaction the club said has a value of $575 million.