He’s respected by attorneys who appear before him. He’s respected by his fellow judges. This is important to know because the Houston Astros have appealed his ruling putting CSN Houston into Chapter 11 Bankruptcy. This means they are asking a federal district court judge and probably also the Fifth Circuit Court of Appeals to overrule the judge, to say that he’s wrong, that he doesn’t understand the law. That he doesn’t know what he’s talking about. The CSN Houston parties return to Judge Isgur’s courtroom again tomorrow. The Astros will be asking the judge to stay his order putting the network into bankruptcy, that means they’ll ask him to delay enforcing it because they believe that he’s wrong and that his decision will be http://ift.tt/1bPdNgd overturned on appeal. It is possible Judge Isgur will grant this stay, but the odds aren’t in favor of the Astros.
For the original version including any supplementary images or video, visit http://ift.tt/1jpQ9iB
Jones Day attorney Bruce Bennett told U.S. Bankruptcy Judge Steven Rhodes that the city plans to file its “plan of adjustment” next week. The city faces a March 1 deadline to file the first version of the plan, which will include details on how the city plans to treat creditors and assets. The plan of adjustment can be altered as the city conducts additional negotiations with its creditors. Creditors will be given a chance to vote on the plan, and Rhodes must also approve it a process that could take several months. A draft version of the plan acquired by the Free Press earlier this month revealed the city plans to offer pensioners more than other unsecured creditors in part because foundations are pledging nearly $400 million to reduce pension cuts and spin off the Detroit Institute of Arts. The plan also involves a proposal to lease the city’s water and sewerage department to an independent authority in exchange for $47 million per year over 40 years.
For the original version including any supplementary images or video, visit http://ift.tt/1jqLlte
The combination creates the worlds seventh-largest auto manufacturer. Fiat Chief Executive Officer Sergio Marchionne, 61, wants to transform the company with a scale that can challenge the likes of General Motors Co. (GM) and Volkswagen AG. Getting full control of Chrysler is a big step but only a first step, Erik Gordon , a professor at the University of Michigans business and law schools, said in an e-mail. Now he will have to display world-class operating skills to integrate the companies and compete globally, he said. Chrysler raised about $3 billion in bonds and $2 billion in loans, Bloomberg data show.
For the original version including any supplementary images or video, visit http://ift.tt/1aNpI3e
Advantage Rent a Car has asked to borrow an additional $20 million in bankruptcy financing as the fourth-largest rental-car company runs on the fumes of its current $46 million loan. The company said its current financing will be depleted by next Saturday, and the bankruptcy court will consider the new money Wednesday. Canadian private-equity firm Catalyst Capital Group Inc. has provided both loans. The firm struck a deal to exchange the debt for ownership of Advantage. A bankruptcy judge and the Federal Trade Commission have both signed off on that sale. After holding an auction for its assetsa canned vegetable businessAllens Inc. will ask a judge on Tuesday to allow it to sell to a joint venture formed by Bain Capital LLC and Gordon Brothers Group. The veggie company announced Friday that the ventures $160 million bid was the best offer it received at auction, topping rival vegetable company Seneca Foods Corp.s $148 million lead bid. Allens sells Popeye canned spinach, Sugary Sam sweet potatoes and Veg-All, as well as all Allens-branded vegetables.
For the original version including any supplementary images or video, visit http://ift.tt/1ghSiZR
Wolfe’s practice focuses on representing debtors, creditors’ committees, individual creditors, lenders, purchasers of assets and indenture trustees in complex Chapter 9, Chapter 11, Chapter 15, and cross-border insolvency cases and out-of-court workouts. He has experience in all aspects of bankruptcy law. Wolfe regularly represents creditors’ committees in the bankruptcies of companies in various industries, including the maritime, shipping, shipbuilding and offshore petroleum industries. He was the CEO of a maritime company for more than a decade and held a U.S. Coast Guard Master’s License for more than two decades while having operated commercial vessels of all types. Wolfe has recently served as counsel to the official committees of unsecured creditors in the bankruptcy cases of TMT Shipping, B+H Ocean Carriers, U.S.
For the original version including any supplementary images or video, visit http://ift.tt/1jqLnBk
from WordPress http://ift.tt/1iSzHUI
via IFTTT
No comments:
Post a Comment