Category Archives: Bankruptcy
Delaware Bankruptcy Court Amends Standing Order of Reference
In an apparent response to the Supreme Court’s decision in Stern v. Marshal, 131 S. Ct. 2594, 180 L. Ed. 2d 475 (2011), on February 29, 2012 the United States District Court for the District of Delaware issued an Amended Standing Order of Reference stating that if a bankruptcy judge or district judge determines that [...]
Making Sense of the Settlement Between the Owners of the Mets and Picard in the Madoff Case
On March 19, 2012, the day the trial of the lawsuit by Irving Picard, the bankruptcy trustee in the Madoff case, against the owners of the Mets was to begin, the parties reached a settlement of Picard’s claims. The material terms of the settlement were placed on the record before District Court Judge Jed Rakoff. [...]
District Court Partially Overturns Bankruptcy Court Decision Concerning MERS Authority
On March 28, 2012, U.S. District Court Judge Joanna Seybert vacated part of the decision made by Bankruptcy Court Judge Robert E. Grossman in In re Ferrel L. Agard, 444 B.R. 231 (Bankr.E.D.N.Y. 2011), wherein he concluded that MERS’s “nominee” status did not confirm upon it authority to assign mortgages. A copy of the decision [...]
Sbarro Fast-Food Pizza Chain Wins Court Approval for Bankruptcy-Exit Plan – Bloomberg
Sbarro Inc., the fast-food pizza restaurant chain, won approval of its plan to restructure and exit bankruptcy protection. Sbarro will give ownership of the reorganized company to senior lenders owed about $176 million under the proposal approved today by U.S. Bankruptcy Judge Shelley C. Chapman in Manhattan. The company, based in Melville, New York, started [...]
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Fox Wants Dodgers’ Bankruptcy Case Dismissed, Slams McCourt, MLB
In a sharply worded court filing late Wednesday, Fox Sports said it would ask a U.S. Bankruptcy Court to dismiss the Dodgers from bankruptcy. In the process, Fox slammed Major League Baseball as “Prime Ticket’s former ally” and claimed the only reason Dodgers owner Frank McCourt wants to sell the team’s television rights now is [...]
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