Recent Updates
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Bankruptcy court denies Caesars Entertainment's quick appeal
Bankruptcy Law 08/23/2015A bankruptcy court that ruled lawsuits against Caesars Entertainment Corp. would not be halted as the company's debt-heavy subsidiary attempts to emerge from Chapter 11 has also denied the casino company's effort to fast-track an appeal of the decisi...
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Court rules GM shielded from death claims before bankruptcy
Bankruptcy Law 04/23/2015A federal judge ruled Wednesday that a 2009 bankruptcy order shields General Motors from billions of dollars in death and injury claims tied to defective ignition switches in older small cars. But Judge Robert Gerber in New York, who handled GM's gov...
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Bankrupt Caesars unit gets court's OK to use cash, for now
Bankruptcy Law 03/23/2015A federal judge in Chicago ruled Wednesday that a bankrupt division of Caesars Entertainment Corp. can tap some of the $847 million in cash it has on hand for at least five weeks. Judge Benjamin Goldgar said Caesars Entertainment Operating Co. could ...
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Bankruptcy court to weigh Revel sale, but loopholes exist
Bankruptcy Law 03/23/2015A bankruptcy court judge will consider — yet again — the proposed sale of Atlantic City’s former Revel Casino hotel to a Florida developer. But the $82 million deal has loopholes that could let the owner, Revel AC, or the purchaser,...
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TiVo gets bankruptcy court approval to buy some Aereo assets
Bankruptcy Law 03/23/2015TiVo said Friday that it has received bankruptcy court approval to buy some assets of Aereo, an online startup that offered a cheaper alternative to cable TV. Financial terms were not disclosed. Aereo filed for Chapter 11 bankruptcy protection in Nov...
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Bankrupt Stockton defends financial plan in court
Bankruptcy Law 05/23/2014The largest city in California to file for bankruptcy protection is asking a judge Monday to approve its plan for reorganizing more than $900 million in long-term debt to rescue the city from two years of financial uncertainty. Standing in Stockton's...
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Tokyo court starts Mt. Gox bankruptcy proceedings
Bankruptcy Law 04/23/2014Bankruptcy proceedings have begun for Mt. Gox, a move that was widely expected after the Tokyo District Court decided earlier this month that the bitcoin exchange would not be able to resurrect itself. An administrator will try to sell the company's ...
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Detroit bankruptcy judge opens court to critics
Bankruptcy Law 04/23/2014A judge overseeing Detroit's bankruptcy is getting an earful from retirees who are opposed to the city's plan to get back on its feet. Judge Steven Rhodes is giving dozens of people five minutes each to air their objections Tuesday. He held a similar...
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GM to ask bankruptcy court for lawsuit protection
Bankruptcy Law 04/09/2014General Motors revealed in court filings late Tuesday that it will soon ask a federal bankruptcy judge to shield the company from legal claims for conduct that occurred before its 2009 bankruptcy. The automaker's strategy is in a motion filed in a Co...
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'Octomom' bankruptcy case thrown out of court
Bankruptcy Law 09/09/2013A judge threw out "Octomom" Nadya Suleman's bankruptcy claim Tuesday after she failed to file the proper paperwork to show she can't pay as much as $1 million in debt. That means creditors can move to collect what they say they're owed, and a pending...
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Court rejects bid to put Blixseth into bankruptcy
Bankruptcy Law 09/09/2013For the second time, a federal judge has turned back an attempt by Montana authorities to force former billionaire Tim Blixseth into bankruptcy to recover $57 million in alleged back taxes. U.S. Bankruptcy Judge Bruce Markell in Las Vegas dismissed t...