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Fiscal emergency declared in state capital
Harrisburg City Council has rejected calls to implement a financial recovery plan and declared bankruptcy instead. The BBC reports the city faces debts of $US458 million and has struggled to pay for services. Governor Tom Corbett signed the takeover
Updated: 10/25/2011 03:53P
NoHo noodle shop files for bankruptcy
The critically acclaimed eatery filed for Chapter 11 bankruptcy protection on Monday, citing litigation involving a former chef as the reason. Meta Co. owns the restaurant. Its president, Sheila Weilan Mark,
Updated: 10/25/2011 03:48P
Dodgers Web musings: Frank McCourt and all that jazz
The bankruptcy showdown is scheduled to begin Monday in Delaware, but the pre-court filings have continued to come and they aren't getting any sweeter. Now Major League Baseball has attempted to put a precise number ($189.16 million) on how much money
Updated: 10/25/2011 03:37P
MLB Suspects that McCourt Took $189 Million Out of His Team
In the bankruptcy proceedings, US Bankruptcy Judge Kevin Gross has ruled that Dodger Stadium security is a valid issue. The League claimed that the aftermath of the Stow incident, whose medical bills could exceed $50 million, revealed how inadequate
Updated: 10/25/2011 03:32P
Dodgers' ticket holders join committee
The US trustee for Delaware's bankruptcy court on Tuesday appointed two representatives of the season ticket holders to the Dodgers' official committee of unsecured creditors. In return, attorneys for an ad hoc group of season ticket holders withdrew a
Updated: 10/25/2011 03:25P
Montana court: ATVs not protected under bankruptcy law
Montana's Supreme Court recently ruled that all-terrain vehicles, or ATVs, are considered motor vehicles, not sporting goods, a decision that leaves the vehicles more exposed during bankruptcy proceedings, according to the Billings (Mont.) Gazette.
Updated: 10/25/2011 03:14P
Delaware Bankruptcy Court Sheds Light on The Common Interest Doctrine
The United States Bankruptcy Court for the District of Delaware (the "Delaware Bankruptcy Court"), recently in In re Leslie Controls, Inc., Bankr. D. Del., Case No. 10-12199, expounded on whether attorney-client and attorney work-product privileged
Updated: 10/25/2011 03:13P
Mark IV Ruling: District Court Affirms Bankruptcy Court's Denial of Discharge
Last month, District Court Judge Shira A. Scheindlin of the Southern District of New York affirmed a bankruptcy court ruling which held that the environmental cleanup obligations of debtor Mark IV Industries, Inc. were not discharged in bankruptcy.
Updated: 10/25/2011 03:02P
Dodgers' Owner 'Looted' Team of $190 Million, League Claims
Oct. 25 (Bloomberg) -- Frank McCourt, the Los Angeles Dodgers owner, "looted" the club of about $190 million, lawyers for Major League Baseball contend in a US Bankruptcy Court filing. The league made the accusation yesterday in a 61-page brief in
Updated: 10/25/2011 03:02P
Will John Paulson Manage To Cut Deal With MetLife For Resorts?
Hedgie John Paulson is trying to keep control of three plush resorts that've fallen under bankruptcy court protection. According to reports, he's cut a tentative deal with the senior mezzanine lender to the resorts, MetLife (MET).
Updated: 10/25/2011 02:54P
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