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bankruptcy buyout news
Ally Said to Get ResCap Bondholder Backing for Bankruptcy
18.05.12
, The auto lender
majority-owned by U.S. taxpayers, received an oral commitment
from bondholders of Residential Capital to support a bankruptcy
filing for the mortgage unit that could come early next week,
people with direct knowledge of the talks said.
The investors were given material, nonpublic information
and are negotiating final details of what they’d receive to
settle their for
ResCap, which may shorten disputes and court proceedings, and in
turn make it easier for Ally to repay a U.S. bailout that left
the U.S. Treasury Department with a 74 percent stake. A ResCap
bankruptcy would rank among the largest tied to a Treasury-owned
asset since General Motors Corp. won court protection in 2009.
Source: BusinessWeek
bankruptcy buyout about
The Daily Docket: Tribune Bondholders Can Sue Shareholders
Wall Street Journal (blog) - Apr 27, 2011
Tribune Co. bondholders received bankruptcy-court clearance to pursue lawsuits in state courts that would seek to wrest back more than $8.2 billion paid out to former shareholders who profited from the 2007 leveraged buyout blamed for
Zell attorney objects to Tribune bankruptcy plans
BusinessWeek - Apr 14, 2011
An attorney for billionaire developer Sam Zell, who engineered a buyout that left Tribune Co. saddled with debt, says proposals to reorganize the media company's finances aren't fair to his client. Attorney David Bradford says the
Lehman, GSC, Orchard, Madoff, Banning Lewis: Bankruptcy
BusinessWeek - Apr 28, 2011
The trust created for creditors of subsidiaries of Orchard Brands Corp. filed a lawsuit in bankruptcy court yesterday against affiliates of Golden Gate Capital Corp., the private- equity investor that bought the retailer in a leveraged buyout in April
Point Blank, GSC, New Stream, Tribune, Nortel: Bankruptcy
BusinessWeek - Apr 27, 2011
The bankruptcy judge scheduled closing arguments in June over whether to confirmed a plan, and if so, which one. Aurelius is the largest holder of debt predating Tribune's 2007 leveraged buyout. The Aurelius plan would allow lawsuits to continue after