Wednesday, April 7, 2010 as of 11:14 AM ET
United States bankruptcy courts are courts created under Article I of the United States Constitution. They function as units of the district courts and have subject-matter jurisdiction over bankruptcy cases.
Read More at Wikipedia ›The bankruptcy court granted the owner of several well-known luxury resorts continued control over its case by giving the company until June 24 to exclusively file a plan of reorganization.
The extension, MSR Resort Golf Course LLC's third, gives the power to file a plan of reorganization to the company alone, warding off rival plans that could split the votes needed to confirm a plan. The company also can solicit votes exclusively for its plan until Aug. 24.Before Judge Sean Lane of the U.S. Bankruptcy Court in Manhattan gave the resorts more time on Friday, this exclusivity timeline had been set to expire Monday.The group of five resorts, owned by hedge fund Paulson & Co., received court approval in March to sell one resort, the Doral Golf Resort & Spa in Miami, to Donald Trump's Trump Organization for $150 million. Although that sale was intended to help the company's balance sheet, the four other resorts continue to languish in Chapter 11, complicating the confirmation of a reorgani...LightSquared Inc. filed for Chapter 11 bankruptcy protection Monday, hours ahead of the expiration of a deal to keep hedge fund manager Philip Falcone's venture from...
LightSquared Inc. filed for Chapter 11 bankruptcy protection Monday afternoon, hours ahead of the expiration of a deal to keep hedge-fund manager Philip Falcone's ve...
Ally Financial Inc.'s (GMA.XX) troubled mortgage subsidiary filed for Chapter 11 bankruptcy early Monday, potentially paving the way for Ally to sever itself from su...
Earnings from the retail segment will continue next week, with results due from giants Wal-Mart Stores Inc. (WMT) and Target Corp. (TGT).Social networking giant Face...
A judge on Friday turned down hedge-fund manager Claren Road Asset Management's demand for unfettered public access to all of a scathing examiner's report into Dyneg...
The bankruptcy court signed off on the sale of Nassau Broadcasting Partners LP's assets Tuesday to five different buyers, including a Goldman Sachs Group Inc. (GS) a...
Delta Petroleum Corp. (DPTRQ) has selected Denver natural-gas company Laramie Energy II LLC to be the sponsor of its reorganization plan in a deal that would create ...
Lehman Brothers Holdings Inc. (LEHMQ) lashed out at Sam Zell's deal with Bank of America Corp. (BAC) and Barclays PLC (BCS) to extend Zell's option to buy their rema...
Radio-station owner Nassau Broadcasting Partners LP announced ahead of its Monday sale hearing that a Goldman Sachs Group Inc. (GS) affiliate purchased the majority ...
Aircraft manufacturer Hawker Beechcraft Inc. filed for bankruptcy protection Thursday, after striking a deal with creditors to swap some $2 billion in debt for contr...
A U.S. congressman is pressing for the appointment of an independent counsel to take over a federal criminal probe into the collapse of the MF Global Holdings Ltd br...
General Maritime Corp. (GMRRQ) shot down minor objections to its plan to exit bankruptcy in the hands of Oaktree Capital Management LP as the company prepares to go ...
Houghton Mifflin Harcourt Publishers Inc filed for bankruptcy protection on Monday, after the publisher of textbooks reached an agreement with a majority of its cred...
JPMorgan Chase & Co <JPM.N>, under scrutiny for its ties to collapsed commodities firm MF Global, will return $168 million to the estate of MF's broker-dealer, the e...
General Motors (GM) Thursday said it will produce the next version of its best-sellling European model in just two production plants, a major step in its attempts to...
A General Motors Co. (GM) lawyer demanded the widow of a car-crash victim drop a plan to seek punitive damages from the auto maker, even though the company's governm...
An industry group said Tuesday Residential Capital LLC's decision to seek bankruptcy-court protection was a "credit event" that triggers about $858 million in payout...
Diversified Financial Consultants founder Dominick Tavella on the government initially bailing out Ally Financial and now saying the bankruptcy of one of the company’s divisions is good for taxpayers.
J. P. Morgan Chase & Co.'s (JPM) James Dimon is turning to a long-time protege as his Mr. Fix-It.Michael Cavanagh, 46, currently head of the bank's Treasury & Securi...
Quotes delayed at least 15 minutes. Real-time quotes provided by BATS Exchange. Market Data provided by Interactive Data (Terms & Conditions). Powered and Implemented by Interactive Data Managed Solutions. Company fundamental data provided by Morningstar. Earnings estimates data provided by Zacks. Mutual fund data provided by Lipper. Economic data provided by Econoday. Dow Jones & Company Terms & Conditions.
This material may not be published, broadcast, rewritten, or redistributed. ©2012 FOX News Network, LLC. All rights reserved.
