The bankruptcy judge overseeing the Los Angeles Dodgers bankruptcy case has ordered the removal of four angry fan letters which were placed in the court's official list of documents. Judge Kevin Gross of Delaware's bankruptcy court on Friday ordered that letters from fans had to be removed from the court's docket, or official documents, before [...]
Borders Group has had a disappointing conclusion to their negotiations with a potential buyer and creditors. The collapse of the much hoped for buyout deal means that a group of liquidators will bid on the company on Sunday, July 17, 2011 and if there are no higher bidders, the company will be liquidated. Borders had [...]
In a bankruptcy case that has already become heated, Dodgers baseball fans are adding fuel to the fire. In several letters filed with the U.S. Bankruptcy Court, several Dodgers fans appealed to the bankruptcy trustee to oust the team's current owner, Frank McCourt. "I beg you Mr. Gross to please do the right thing and...put [...]
Borders, the embattled bookseller in Chapter 11 bankruptcy, has finally found a potential buyer for its stores. Direct Brands has agreed to a $215 million opening bid for Borders Group. The bid will be placed at the bankruptcy auction where other bidders will be able to participate. However, at this point there does not seem [...]
In what appears to be a clear case of lack of communication in the Dodgers Chapter 11 bankruptcy case, both sides, (the Dodgers owner Frank McCourt and the MLB Chief) have quickly submitted to the court requests to depose the other side. MLB filed papers Friday with the U.S. Bankruptcy Court in Wilmington, Del., seeking [...]
The last executive employee of Blockbuster may lose his six-figure bonus if the Office of the U.S. Trustee has its way. The department has requested that the company's former treasurer, who has remained with the company through bankruptcy be prevented from receiving a six-figure bonus for his work on the bankruptcy case. Bruce Lewis, the [...]
Bankruptcy Judge Mary F. Walrath ruled that she would not create a constructive trust to hold assets from an employee compensation plan. A constructive trust is a trust created for the benefit of parties who have been wronged. In this case, WaMu employees said that the company wrongfully prevented them from withdrawing money from the [...]
In what some are describing as the most important decision effecting bankruptcy judges in twenty-five years, the Supreme Court ruled that the bankruptcy judge who resolved a common-law tort claim in favor of Anna Nicole Smile (now deceased) acted outside of his authority. The five-justice majority led by Chief Justice John Roberts said that while [...]
The judge overseeing the Giordano Chapter 11 bankruptcy was forced to have a litigant forcibly removed from the court after he made a comment that was interpreted as a threat. Blurb from the conversation between the judge and Marshall Home: Then the judge asked Home to answer questions under oath, reminding him that what he [...]
Bankruptcy Failure to Pay In a recent appeal regarding a Chapter 13 bankruptcy case which was dismissed with prejudice, a debtor learned that failure to make timely payments can end in disaster. The debtor in this bankruptcy case was negotiating his bankruptcy repayment plan over the period of three years. During that time he was [...]