Stephen Lubben

Hedge Fund Fight Over Madoff Claims Shows Contract Woes

Hedge funds Perry Capital LLC and Solus Alternative Asset Management LP are fighting over whether they had a contract when they agreed to trade $195 million of claims on Bernard Madoff’s bankrupt firm, amid rising prices on the claims.

Barclays Battle With Lehman Unit Brings $5.5 Billion

Barclays Plc has won as much as $5.5 billion from the liquidator of Lehman Brothers Holdings Inc.’s brokerage since buying the defunct investment bank’s North American business more than three years ago.

Ally to Sell Non-U.S. Units as ResCap Goes Bankrupt

Ally Financial Inc., the auto lender whose mortgage unit went bankrupt, may sell international car- finance and insurance operations to help repay a $17.2 billion U.S. bailout, Chief Executive Officer Michael Carpenter said.

Lehman’s Marsal Pushed by Paulson Group to Get Busy or Get Out

Paulson & Co., the hedge fund that forced Lehman Brothers Holdings Inc. to sweeten payouts for senior bondholders, helped galvanize the bankrupt company into action after its managers and advisers pocketed more than $1.1 billion in fees in 28 months of bankruptcy.

Skadden, S&C, Minter Ellison, MoFo, Crowell: Business of Law

Prudential Plc, the U.K.’s biggest insurer, agreed to buy a life insurance unit from Swiss Re AG for 398 million pounds ($621 million) in cash to expand in the U.S.

Dewey Pay Guarantees May Be Worth a Dime on the Dollar

Dewey & LeBoeuf LLP partners whose guaranteed contracts undermined the firm may get about a dime on the dollar for what they’re owed, no better than the janitors who cleaned their offices, bankruptcy specialists said.

Ally Pays $750 Million in ResCap Bankruptcy to ‘Avoid the Noise’

Ally Financial Inc. contributed $750 million to cover legal claims on soured loans tied to its bankrupt mortgage unit, even though the firm calls them meritless, “to avoid the noise,” according to its leader.

MF Global Parent Creditors Clash With Brokerage Customers

Creditors of bankrupt MF Global Holdings Ltd. are clashing with customers of the MF Global Inc. brokerage over assets as each side seeks more money for itself.

Lehman Paid $37.2 Million in Bankruptcy Fees in October

Lehman Brothers Holdings Inc., which has spent almost $1.5 billion on fees while in bankruptcy, paid $37.2 million to lawyers and managers in October, according to a regulatory 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.

"They do not have much of anything-- other than perhaps some lawsuits-- once their moneymakers leave."

- Stephen Lubben on May 31, 2012

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Israel to Halt Weapons Flow to Hezbollah, Analyst Says

Japan Seeks to Boost Financial Ties With Asean Amid China Row

Berkshire Cash Hits Record $49.1 Billion as Profit Climbs

Fusion Scientists See Progress as Obama Shows No Ardor

Billionaire Kaiser Exploiting Charity Loophole With Boats