With a nod to country singer Kenny Rogers, a federal judge has refused allow insurers for Lehman Brothers to pay $90 mln to settle a fraud lawsuit brought by investors.
French v. BMO Harris Bank, N.A. (N.D. Ill.)
ORDER - Bankruptcy court lifted stay with respect to Chapter 13 petitioner’s home, based on mortgage’s “due on sale” clause. Petitioner inherited home from original mortgagor, an issue not considered by Bankruptcy court. Appeals court remanded for determination of effect of Garn–St. Germain Act.
Chen v. Siemens Energy Inc. (11th Cir.)
OPINION - Appellant’s Title VII discrimination lawsuit was dismissed when she filed Chapter 7 bankruptcy; only bankruptcy trustee had standing, not appellant.
Trustee of Nortel Networks UK Pension Plan v. Nortel Networks Inc. (U.S.)
PETITION FOR CERT. – The trustee of the pension plan for employees of Nortel Networks’ British affiliate is asking the U.S. Supreme Court to review a federal appellate panel’s ruling that bankruptcy law bars a United Kingdom regulatory action to get funds from Nortel’s bankrupt U.S. affiliates.
The aircraft maker partially owned by Goldman Sachs made the decision as part of a prearranged deal with lenders that will eliminate about $2.5 billion in debt.
A letter from first-term New York congressman Michael Grimm suggests that Jon Corzine's ties with "highly placed individuals" in the government constitutes a conflict of interest.
The bankrupt parent of American Airlines cut 20 percent of the company's "most senior leadership positions" and said its lead labor strategist will step down.
The team's $2 billion sale creates a new game plan for loss-making sports teams hoping to command top dollar -- file for Chapter 11.
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3rd Circuit reverses deportation for bankruptcy perjury
Delaware bench, bar try to clear jams at intersection of state, federal law
Lehman investors lose appeal of 'minibond' ruling
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