Stephen Farr News
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KidsPeace Corp., the owner of a nonprofit psychiatric hospital for teenagers in Pennsylvania, filed for bankruptcy blaming government spending cuts.
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Insurers fighting Pittsburgh Corning Corp.’s reorganization asked a judge to rescind her initial approval of the building-supply company’s plan to exit bankruptcy.
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A federal judge approved a settlement between Citigroup Inc. and defunct Lehman Brothers Holdings Inc. over disputed amounts owed on foreign-exchange trades. Citigroup was granted a right to a $1.2 billion priority claim while paying Lehman $167 million, according to an order signed yesterday in federal court in Manhattan. Larger sums remain in dispute, the parties said in the document.
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MF Global Holdings Ltd. trustee Louis J. Freeh is seeking a jury trial for a lawsuit blaming former Chief Executive Officer Jon Corzine for the firm’s collapse.
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The Bernard Madoff brokerage liquidator appealed a federal judge’s ruling that blocked his move to stop New York Attorney General Eric Schneiderman from completing a $410 million settlement with J. Ezra Merkin.
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A judge handling a $2 billion lawsuit against banks including JPMorgan Chase & Co. and UBS AG brought by the former Thornburg Mortgage invited their lawyers to file statements on the possible appointment of a mediator to resolve the dispute, according to a federal court filing in Baltimore.
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The U.K.’s Bernie Ecclestone, accused of paying a bribe to steer a Formula One racing stake to CVC Capital Partners Ltd., says U.S. dollar wire transfers from a Swiss bank to an Austrian bank don’t give U.S. courts jurisdiction in the case, as the plaintiff claimed.
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The American Civil Liberties Union won the reversal of a ruling on a request for information about the Central Intelligence Agency’s use of drones.
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RDA Holding Co., the publisher of Reader’s Digest magazine, filed a bankruptcy reorganization plan to shed 80 percent of its debt by converting $231 million of notes into new equity.
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Zogenix Inc.’s pure hydrocodone painkiller Zohydro failed to win the backing of U.S. advisers, who said regulators should first take a closer look at measures to curb the abuse of opioids.
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