Inside these posts: Bankruptcy

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New Tribune Co. lawyer spat breaks out

A new side-imbroglio has broken out in the Tribune Co. bankruptcy, highlighting the often incestuous world occupied by big-time bankruptcy attorneys.

Let’s see if we can sort it all out … Get the full story »

Examiner wants subpoena power in WaMu case

The independent examiner appointed to review claims and assets in Washington Mutual’s bankruptcy case is seeking subpoena power.

The examiner made the request Friday in filing his proposed work plan in Delaware bankruptcy court. A hearing on his plan will be held Tuesday. Get the full story »

Nolan Ryan puts something extra on Rangers pitch

A group led by former all-star pitcher Nolan Ryan and a minor league baseball team owner made a new bid to buy the bankrupt Texas Rangers in a move that would block an auction for the Major League Baseball team set for next week.

The Rangers’ bankruptcy court-appointed chief restructuring officer, William Snyder, said at a  hearing on Friday that he supports the new offer, according to a person who attended the hearing by telephone. Get the full story »

Lucien Lagrange firm files for Chapter 11

From Crain’s Chicago Business | The firm headed by  Lucien Lagrange has filed for bankruptcy protection to keep the renown condo architect from having to shoulder the company’s debt as he retires.

LBO issues to be part of Tribune Ch. 11 hearing

The judge in the Tribune Co.’s bankruptcy said Wednesday that there’s no way to avoid arguments about the media conglomerate’s 2007 leveraged buyout at a hearing on whether to confirm its reorganization plan.

But Judge Kevin Carey indicated that he will not hold a full-blown trial on buyout-related claims at the confirmation hearing, set to begin Aug. 30. Get the full story »

Texas Rangers toss a changeup in auction plans

The Texas Rangers may be off the auction block, at least for now, after the baseball team withdrew its request to allow rival bidders to challenge a $575 million offer from a group of investors that include Hall of Fame pitcher Nolan Ryan.

The request was withdrawn after a chief restructuring officer appointed to represent the team’s owners said he no longer supports holding an auction. Get the full story »

Uno’s reorganization plan approved

The parent of the Uno Chicago Grill pizza chain has won court approval for its bankruptcy reorganization plan, less than six months after it sought protection from creditors.

Judge Martin Glenn approved the Chapter 11 plan for Uno Restaurant Holdings Corp.  at a hearing Tuesday in the U.S. bankruptcy court in Manhattan. Get the full story »

Ford to repay $4 billion more in debt

Ford Motor Co., the only Detroit  automaker to avoid bankruptcy protection, said Wednesday it will reduce its huge debt by another $4 billion as it continues to show signs of financial strength. The Dearborn, Mich., automaker will pay $3.8 billion in cash to a United Auto Workers trust fund that pays retiree health care bills, and it will pay out $255 million in dividends on preferred securities that had been deferred as the automaker worked its way through financial troubles.

Court OKs Philly newspaper reorganization plan

The publisher of the Philadelphia Inquirer won court approval Monday for its bankruptcy reorganization plan, clearing the way for lenders to buy its newspaper assets for about $139 million.

U.S. Bankruptcy Judge Stephen Raslavich rejected objections by some union pension funds before approving the plan proposed by Philadelphia Newspapers LLC, which runs the Inquirer and the smaller Philadelphia Daily News. Get the full story »

Visteon a step closer to leaving bankruptcy

A bankruptcy court judge has cleared the way for auto parts supplier Visteon Corp. to begin soliciting votes on its proposed reorganization plan.

The judge in Delaware approved documents describing the Michigan company’s proposed reorganization plan and the process for creditors to vote on it. Get the full story »

Tribune Co. TV licenses face new opposition

From the Wall Street Journal | The owner of a small newspaper in Connecticut has joined the chorus in opposition to Tribune Co. transferring its FCC licenses to the reorganized company when it emerges from Chapter 11.  Tribune  owns The Hartford Courant and is seeking to hang onto two TV stations  in the same market.

Lenders to question Zell on Tribune buyout

From Bloomberg News | Lenders owed $1.6 billion will question Sam Zell under oath June 28 on the 2007 leveraged buyout he led of Tribune Co. The lenders, with a lower payment priority, oppose the reorganization plan filed with Bankruptcy Court.