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Judge Approves Independent Examiner For Tribune Bankruptcy Case

Bankruptcy judge Kevin Carey, who is presiding over Tribunes' Chapter 11 bankruptcy case, approved an independent examiner to review the 2007 leveraged buyout of the media conglomerate and the potential claims arising from it that might be brought on behalf of the bankruptcy estate. Tribune, which owns the Los Angeles Times, Chicago Tribune, The (Baltimore) [...]

By |2018-12-13T09:23:58-05:00June 8th, 2010|Bankruptcy, Chapter 11 Bankruptcy, Economy|Comments Off on Judge Approves Independent Examiner For Tribune Bankruptcy Case

Bankruptcy Court Decision Causes Withdrawal Of General Growth Bidder

Simon Property Group Inc., which for months was involved in a campaign to acquire General Growth which is in Chapter 11 bankruptcy y, recently withdrew its bid due to a bankruptcy court decision that would make the acquisition too expensive. The plan approved by U.S. Bankruptcy Court Judge Allan Gropper in New York would enable [...]

By |2018-11-14T16:42:37-05:00June 7th, 2010|Bankruptcy, Chapter 11 Bankruptcy, Economy|Comments Off on Bankruptcy Court Decision Causes Withdrawal Of General Growth Bidder

Freedom Communications Emerges From Chapter 11 Bankruptcy

Freedom Communications Inc., the publisher of many newspapers around the country known for their libertarian views, has finally emerged from Chapter 11 bankruptcy, their debt loand $450 million lighter; but also under new ownership Three investment companies - Alden Global Capital, Angelo Gordon & Co. and Luxor Capital Group - and a group of lenders [...]

By |2018-11-14T17:19:17-05:00June 5th, 2010|Bankruptcy, Chapter 11 Bankruptcy, Economy|Comments Off on Freedom Communications Emerges From Chapter 11 Bankruptcy

Brown Media Holdings Files Chapter 11 Bankruptcy

Brown Media Holdings, a 90-year-old family-owned company with 18 daily and 27 weekly newspapers in 10 states, filed for Chapter 11 bankruptcy with over $95 million in debt.  The company, which is hoping to sell their business during bankruptcy, is seeking $2.5 million in financing to fund the operations of their publications while they find [...]

By |2018-11-14T19:18:58-05:00June 4th, 2010|Bankruptcy, Chapter 11 Bankruptcy, Economy|Comments Off on Brown Media Holdings Files Chapter 11 Bankruptcy

Six Flags Inc. Emerges From Chapter 11 Bankruptcy

Six Flags Inc. has emerged from Chapter 11 bankruptcy after a yearlong bankruptcy process that faced numerous obstacles.  The company's Chapter 11 bankruptcy has allowed it to reduce its debt load by $1.7 billion and it has acquired $725 million in equity committed by new shareholders. In the initial phases of Chapter 11 bankruptcy Six [...]

By |2018-11-16T23:53:06-05:00June 3rd, 2010|Bankruptcy, Chapter 11 Bankruptcy, Economy|Comments Off on Six Flags Inc. Emerges From Chapter 11 Bankruptcy

Texas Rangers File Chapter 11 Bankruptcy – Owes New York Yankees Player Millions

The Texas Rangers, the Major League Baseball team controlled by billionaire Thomas Hicks, filed for Chapter 11 bankruptcy in an effort to expedite the sale of the baseball team to a group of investors which include the team's president Nolan Ryan and his partner Chuck Greenberg. The Texas Rangers baseball team is the second Major [...]

By |2018-11-14T21:42:15-05:00June 3rd, 2010|Bankruptcy, Chapter 11 Bankruptcy, Economy|Comments Off on Texas Rangers File Chapter 11 Bankruptcy – Owes New York Yankees Player Millions

U.S. Concrete Files Chapter 11 Bankruptcy

U.S. Concrete, a concrete supplier for the construction industry, filed Chapter 11 bankruptcy with assets of $389.2 million and debt of $399.4 million as of Dec. 31, 2009. They hope that the pre-bankruptcy plan's approval will allow them to reduce their debt by approximately $272 million. The company said it has reached an agreement with [...]

By |2018-11-12T19:47:40-05:00June 1st, 2010|Bankruptcy, Chapter 11 Bankruptcy, Economy|Comments Off on U.S. Concrete Files Chapter 11 Bankruptcy

Bankruptcy Judge May Approve Six Flags Settlement

Six Flags Inc. has finally resolved a many weeks long dispute between two groups of creditors and expects to exit Chapter 11 bankruptcy as early as the first week of May.  Bankruptcy Judge Christopher Sontchi has indicated that he will accept the settlement offer and approve the company's bankruptcy reorganization plan rather quickly. Under the [...]

By |2018-11-14T19:14:04-05:00May 31st, 2010|Bankruptcy, Chapter 11 Bankruptcy, Economy|Comments Off on Bankruptcy Judge May Approve Six Flags Settlement

Fuddruckers’ Parent Company Files Chapter 11 Bankruptcy

Magic Brands LLC, the parent of Fuddruckers and Koo Koo restaurants has filed Chapter 11 bankruptcy and announced it will close 24 corporate owned locations by April 30th including one of its Dallas-Fort Worth area stores located in Garland. None of the 135 franchised Fuddruckers has been included in the Chapter 11 bankruptcy. Magic Brands [...]

By |2018-11-16T23:44:19-05:00May 26th, 2010|Bankruptcy, Chapter 11 Bankruptcy, Economy|Comments Off on Fuddruckers’ Parent Company Files Chapter 11 Bankruptcy

Should Derivatives Receive Special Treatment In Chapter 11 Bankruptcy?

Derivatives in the world of finance are financial instruments or agreements between two parties that has determined the value of something by its estimated future value.  More simply put, it is the bet that a certain asset will be worth a certain price in the future.  For example, a derivative might say if this group [...]

By |2018-11-19T20:15:51-05:00May 24th, 2010|Bankruptcy, Chapter 11 Bankruptcy, Economy|Comments Off on Should Derivatives Receive Special Treatment In Chapter 11 Bankruptcy?