March 8 at 7:05 p.m.
Filed under:
Bankruptcy,
Media
By Michael Oneal
WILMINGTON, Del. — Confirmation hearings in Tribune Co.’s bankruptcy case got under way Tuesday with a full day of testimony about the company’s tortured on-again-off-again effort to forge a settlement among its warring creditors.
Investment banker David Kurtz of Lazard Ltd., who spearheaded negotiations on behalf of Chicago-based Tribune Co. for two years, described a “painful and difficult” process paralyzed by the obstructionist behavior among the creditors.
He said efforts to broker a deal among creditors sparring over legal claims related to Tribune Co.’s 2007 leverage buyout were repeatedly undone by the aggressive tactics of hedge funds on all sides of the case who bought the company’s distressed debt hoping to profit from a restructuring. Get the full story »
Feb. 18 at 3:14 p.m.
Filed under:
Banking,
Insurance,
Litigation,
Mortgages,
Updated
By Reuters
Allstate Corp. sued Citigroup Inc. and Deutsche Bank AG Friday, accusing the banks of misrepresenting risks on more than $385 million of mortgage securities it bought.
Allstate, the largest publicly traded U.S. home and auto insurer, has filed similar lawsuits against Bank of America Corp. and JPMorgan Chase & Co. Get the full story »
Feb. 16 at 2:18 p.m.
Filed under:
Banking,
Insurance,
Litigation
By Dow Jones Newswires
Insurer Allstate Corp. sued JP Morgan Chase & Co. over more than $700 million in residential mortgage-backed securities — the latest to allege that a bank misled investors on the quality of mortgages underlying securities.
In the suit, filed Tuesday in state court in New York City, Allstate said JP Morgan and its entities sold Allstate a “toxic mix of loans given to borrowers that could not afford the properties” while telling Allstate it was buying a safe security. Get the full story »
Jan. 19 at 11:35 a.m.
Filed under:
Bankruptcy,
Media,
Newspapers,
Radio,
TV
Wall Street Journal | Creditor Aurelius Capital Management has amped up its opposition to the Tribune Co.’s Chapter 11 plan, demanding a full accounting of the media holdings of JP Morgan’s media holdings.
Jan. 13 at 1:15 p.m.
Filed under:
Banking,
Investing
By Reuters
Some of the United States’ top bankers descended on a law firm in Manhattan on Thursday to make a pitch for managing what could be one of the largest share sales in history — a secondary offering for bailed-out insurer American International Group Inc.
JPMorgan Chief Executive Jamie Dimon was among the executives attending the meeting. Dimon entered the building of law firm Davis Polk & Wardwell LLP just after 9:30 a.m. EST in New York. Asked how the meeting went as he left, Dimon laughed and said: “How’d what go?” Get the full story »
