Bankruptcy administrators find $1m cheque in Detroit city hall drawer

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UPDATE 1-Detroit may get through bankruptcy without new borrowing -Orr

U.S. Bankruptcy Judge Steven Rhodes is to rule on whether Detroit is eligible for Chapter 9 protection in a trial to begin on Oct. 23. Orr expressed confidence that the bankruptcy filing will be approved. He said talks with Detroit's neighboring counties over the creation of a regional water and sewage authority were progressing well, with the suburbs keen on playing a role in the new authority.
For the original version including any supplementary images or video, visit http://www.reuters.com/article/2013/08/07/usa-detroit-kevynorr-idUSL1N0G821620130807

Colo. methane-farming company files for bankruptcy

Golden, Colo.-based Luca Technologies, Inc., filed for federal Chapter 11 bankruptcy July 15. The filing lists several Wyoming businesses and state agencies as creditors. Luca had more than 100 employees at its peak but its investors asked Luca executives to lay off all but three employees, company attorney Matt Micheli told the Casper Star-Tribune ( http://bit.ly/16BiRF2 ) for a story published Wednesday. The company struggled to get federal permits and then ran into financial trouble after natural gas prices hit 10-year lows in 2012. "Any time you have something that's brand new, that's never been done before, it takes a lot of time and resources and money to get it through and build a regulatory framework that allows that technology to be implemented," Micheli said. The company sought to restore gas production from existing, depleted coal-bed methane wells in Wyoming's Powder River Basin. Coal-bed methane wells are relatively small, shallow wells that extract gas from coal seams saturated with groundwater. Luca pumped nutrients into the coal seams.
For the original version including any supplementary images or video, visit http://www.sfgate.com/business/energy/article/Colo-methane-farming-company-files-for-bankruptcy-4720820.php

Archdiocese Bankruptcy Case

District Judge Rudolph T. Randa issued a key ruling in favor of the Archdiocese of Milwaukee in its bankruptcy, the churchs creditors are seeking an emergency order to determine whether Randa had a conflict of interest that should have been disclosed. (81) Daniel Budzynski case shows patterns of secrecy, parish-shifting It took nearly 40 years from the first time Milwaukee priest Daniel Budzynski sexually abused a child until he was finally, firmly told by former Archbishop Timothy Dolan not to wear his collar in public or present himself as a priest. 'Prepare to be shocked,' Milwaukee archbishop warns of priest sex files In a major turning point in its nearly 3-year-old bankruptcy, the Archdiocese of Milwaukee on Monday is scheduled to make public thousands of pages of documents detailing the sexual abuse of minors by priests going back decades, and what church leaders did and did not do in response. more? info… Victims' lawyers move to recover $35 million in parish funds Lawyers for victims and other creditors in the Archdiocese of Milwaukee bankruptcy are seeking to recover at least $35 million in parish funds they say were fraudulently transferred off the archdiocese's books as a way to shelter them from the legitimate claims of sex abuse victims. (28) Lawyers in archdiocese bankruptcy case seek mediator Lawyers for creditors in the Archdiocese of Milwaukee bankruptcy on Friday threatened to sue to recover $35 million it says the archdiocese fraudulently transferred to a parish trust before filing for Chapter 11 and asked the judge to appoint a mediator as a first step toward a settlement of the 14-month-old case. Here is a snapshot of the financial selttlements negotiated as a result of those filings.
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