Chapter 11, Chapter 13 Bankruptcy. Legal news and articles for November 30 - 30, 2011

MF Global Brokerage Trustee to Sell 330 Securities AccountsPennsylvania Lawyer Convicted on Bankruptcy Fraud ChargesPerkins & Marie Callender's Inc. Emerges from Chapter 11 BankruptcyAmerican Airlines launches fare sale as it filed for Chapter 11 bankruptcyUnion Representing A&P Supermarket Workers & Company Reach a Deal to Help the ...MF Global Parent Trustee Freeh Says Work Is 'Under Way'Fitch: AMR Bankruptcy Minimal Impact on Citi CC ABS PerformanceBankruptcy – MortgagesT-Boz Files For Bankruptcy AgainAMR Bankruptcy Filing Hammers Its 'Conduit' DebtFBI adds another conviction to total of $2.9 billion Medicare fraud since 2007USDA audit identifies more than 880 Kansas food stamp recipients improperly ...Witness list limited in Dodgers bankruptcy caseAbracadabra! Bankrupt Cities are Suddenly Un-Bankrupt! (Or Not)MF Global Parent Trustee Freeh Says Work Is Underway at Hearing

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MF Global, Beacon Power, Real Mex, Lehman, PPI, NEC: Bankruptcy
BusinessWeekNovember 1, 2011

15 in US Bankruptcy Court in Delaware to consider the motion for conversion to Chapter 7. Based in Uniondale, New York, NEC filed under Chapter 11 in June 2010, saying assets and debt were both less than $500 million. Liabilities included $74.3 million ...more »

Tribune hopes bankruptcy exit plan can be altered to win approval
Los Angeles TimesNovember 2, 2011

Tribune Co. and its allies in bankruptcy court were optimistic that their plan for reorganizing the company would eventually win a Delaware judge's approval. But even as lawyers hunkered down to analyze a long-awaited decision in the ...more »

Chapter 11, Chapter 13 Bankruptcy. News and Stories

MF Global Brokerage Trustee to Sell 330 Securities Accounts
BusinessWeekNovember 30, 2011

Most of MF Global's smaller securities customers should have access to all of their funds, trustee James Giddens said in a filing today in US Bankruptcy Court in Manhattan, citing indemnity from the Securities Investor Protection Corp. ...more »

Pennsylvania Lawyer Convicted on Bankruptcy Fraud Charges
LoanSafeNovember 30, 2011

(Source FBI ) – ALLENTOWN, PA—Kenneth G. Reidenbach, 61, an attorney practicing in Lancaster, PA, was convicted today of all charges in connection with fraud stemming from three bankruptcy proceedings in ...more »

Perkins & Marie Callender's Inc. Emerges from Chapter 11 Bankruptcy
PR Newswire (press release)November 30, 2011

The United States Bankruptcy Court for the District of Delaware approved the Company's plan of reorganization (the "Plan") on October 31, 2011. As previously announced, private investment funds managed by Wayzata Investment Partners LLC ("Wayzata") are ...more »

American Airlines launches fare sale as it filed for Chapter 11 bankruptcy
The Boston GlobeNovember 30, 2011

American says the sale is a standard practice -- one that allows them to keep up with deals offered by Southwest Airlines and other competitors -- but analysts say that it's more than likely in response to the Chapter 11 filing of AMR Corp. ...more »

Union Representing A&P Supermarket Workers & Company Reach a Deal to Help the ...
MarketWatch (press release)November 30, 2011

The new contracts will last five years and will takes effect two business days after bankruptcy court approval of the agreements. A bankruptcy court hearing on such approval is scheduled to take place on December 5.more »

MF Global Parent Trustee Freeh Says Work Is 'Under Way'
BusinessWeekNovember 30, 2011

Freeh, whose job is to work with regulators and promote a quick return of funds to creditors, spoke today at a hearing in US Bankruptcy Court in Manhattan, where he updated the judge presiding over the case on his progress. Freeh told US Bankruptcy ...more »

Fitch: AMR Bankruptcy Minimal Impact on Citi CC ABS Performance
MarketWatch (press release)November 30, 2011

NEW YORK, Nov 30, 2011 (BUSINESS WIRE) -- Fitch expects the bankruptcy filing by American Airlines parent AMR to have minimal, if any, impact on Citibank-related credit card ABS performance variables. As of Sept. 30, 2011, approximately 24% of ...more »

Bankruptcy – Mortgages
Massachusetts Lawyers WeeklyNovember 30, 2011

By Tom Egan Where Chapter 11 debtors sought to avoid three prepetition mortgages, a US Bankruptcy Court judge acted correctly under 11 USC §362(b)(3) in rejecting that request. “As a familiar bedrock of bankruptcy law, the automatic stay creates ...more »

T-Boz Files For Bankruptcy Again
RTT NewsNovember 30, 2011

(RTTNews) - Tionne "T-Boz" Watkins has filed for bankruptcy for the second time this year. The TLC singer and four-time Grammy winner filed for Chapter 13 bankruptcy protection to establish a plan to repay her debts, which total $768.642. ...more »

AMR Bankruptcy Filing Hammers Its 'Conduit' Debt
Wall Street JournalNovember 30, 2011

s bankruptcy filing is taking a toll on one corner of the bond market: tax-exempt debt issued by local government agencies but backed by the parent of American Airlines. The market value of these high-yield bonds fell 27% Tuesday, to $1.6 billion, ...more »

FBI adds another conviction to total of $2.9 billion Medicare fraud since 2007
Examiner.comNovember 30, 2011

It seems incredible that so many would involve themselves in schemes to defraud the Medicare fund, knowing full well that the fund is already in a nose dive to bankruptcy. The figures are so large, and perhaps they could be doubled if all such fraud...more »

USDA audit identifies more than 880 Kansas food stamp recipients improperly ...
The RepublicNovember 30, 2011

What that means, Siedlecki explained, is that his department could criminally prosecute people who commit welfare fraud in Kansas. In the past, the most the state could do was pursue lawsuits. While civil judgments can be dismissed in bankruptcy court, ...more »

Witness list limited in Dodgers bankruptcy case
MLB.comNovember 30, 2011

Witnesses will be limited to experts in broadcasting matters when hearings in the Dodgers case resume next week, a federal judge in a Delaware bankruptcy court ruled on Wednesday. ...more »

Abracadabra! Bankrupt Cities are Suddenly Un-Bankrupt! (Or Not)
DailyFinanceNovember 30, 2011

Knowing they would get paid only what the county could afford if a bankruptcy case went to court, and also facing questions as to the validity of the debts (political corruption was alleged), lenders worked aggressively to cut Jefferson County's debt ...more »

MF Global Parent Trustee Freeh Says Work Is Underway at Hearing
BloombergNovember 30, 2011

Louis Freeh, the trustee appointed to the Chapter 11 bankruptcy case of MF Global Holdings Ltd., the bankrupt parent of the broker-dealer formerly run by Jon Corzine, said his work is “underway. ...more »

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