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Arcapita Bank said an energy company's fraud claim stemming from Arcapita's sale of Texas natural-gas assets should be pushed behind the claims of other creditors.In a filing last week with the U.S. Bankruptcy Court in Manhattan, Arcapita took on Tide Natural Gas Storage LP's contention that Arcapita's bankruptcy plan shouldn't be approved by a judge because of $70 million it says it is owed.The $70 million lies in an escrow account and stems from Tide's 2010 purchase of natural-gas storage facilities from an Arcapita subsidiary. Tide has been fighting for the money in U.S. district court in Manhattan for two years, saying Arcapita overstated the amount of gas at the plants and gave inaccurate information regarding operating expenses. Arcapita's bankruptcy filing temporarily halted that suit, but Tide continues to fight the company in bankruptcy court, saying its claim to the $70 million shouldn't be placed behind the claims of other creditors.In its filing made last week, Arcapita say...
Investors are gearing up for next week's slew of quarterly reports from some of the largest U.S. retailers. Macy's Inc. (M) kicks things off Wednesday, followed by W...
American Airlines is seeking bankruptcy-court approval for its plans to integrate its union workers with those of US Airways Group Inc. (LCC) upon the completion of ...
Creditors of bankrupt Residential Capital LLC are nearing a deal to settle billions of dollars of claims against the mortgage lender's parent, Ally Financial Inc , a...
An independent examiner investigating Residential Capital LLC's relationship with parent Ally Financial Inc. will release his report Monday afternoon, a lawyer for t...
Billionaire investor John Paulson has put a real estate unit of his hedge fund into bankruptcy to thwart a lawsuit by a lender that claims it is owed tens of million...
AMR Corp. (AAMRQ) on Thursday received a judge's approval of up to $3.25 billion in new financing secured by its Latin American assets, money the American Airlines p...
For hundreds of thousands of Americans each year, filing for bankruptcy doesn't mean erasing most debts in one fell swoop.Instead, the process can take up to five ye...
The battle continues between Residential Capital LLC and a group of its bondholders, who say ResCap shouldn't be allowed to spend cash that they say secures their bo...
Secured lenders led by Credit Suisse AG (CS) have been declared winners of an auction for the oil and gas drilling assets of ATP Oil & Gas Corp. (ATPAQ) with an offe...
Dear Bankruptcy Adviser,I filed Chapter 7, and my debts will be discharged within days. Included was a home equity line of credit. The home was awarded to my ex-husb...
A U.S. bankruptcy judge on Tuesday said the trial over $7.3 billion in cash raised in the liquidation of Nortel Networks Corp. (NRTLQ) won't be held up while Europea...
A judge on Tuesday gave Residential Capital LLC 30 more days to file a reorganization plan without the threat of rival proposals, approving a compromise between ResC...
Revstone Industries LLC will continue to control its bankruptcy case for at least two more months as it seeks to auction a group of its assets.Judge Brendan Shannon ...
Goldman Sachs Group Inc. (GS) beat out Fortress Investment Group LLC (FIG) for the right to lend Arcapita Bank up to $350 million that would ease the Bahraini invest...
Southwest Airlines Co. has been profitable for 40 straight years.Unlike every other major carrier, it has never filed bankruptcy. It has never sacked employees with ...
Ally Financial Inc. said Tuesday it reached agreement with its bankrupt mortgage subsidiary Residential Capital to settle outstanding claims between the companies an...
Six weeks into his work as Detroit's emergency manager, former bankruptcy lawyer Kevyn Orr has found the city's finances in worse shape than expected, with long-term...
Peregrine Financial Group's bankruptcy estate may have "viable" claims against JPMorgan Chase & Co and U.S. Bancorp for harm done to clients of the now-failed broker...
An independent examiner investigating Residential Capital LLC's relationship with parent Ally Financial Inc. will release his report Monday afternoon, a lawyer for t...
