Bankruptcy Law360 provides breaking news and analysis on bankruptcy law. Coverage includes corporate bankruptcies and out-of-court restructurings, as well as corporate distress and imminent bankruptcy and policy developments that affect bankruptcy law.
The U.S. Supreme Court on Wednesday wrestled with the question of when a creditor can be held in contempt for trying to collect on a discharged debt, with the federal government arguing that courts should weigh whether a "fair ground of doubt" existed.
Attorneys for residential housing lender WMC told a Delaware bankruptcy judge Wednesday that it intends to incorporate a proposed settlement of the last outstanding claim against it related to subprime mortgages issued ahead of the Great Recession in a Chapter 11 plan.
An attorney for the former chief financial officer of a Platinum Partners fund told a New York federal jury his client did not defraud investors, saying they were told of the liquidity problems that led to the downfall of the now defunct $1 billion hedge fund manager.
The protections offered the private-equity backed lender serving as a stalking horse bidder in Orchids Paper Products Co.'s Chapter 11 case are far too generous, the Office of the U.S. Trustee told the Delaware bankruptcy court Wednesday.
A star of “The Real Housewives of New Jersey” is asking a New York state court to stop retailer Vineyard Vines from seizing her pay from the producers of the Bravo cable reality show to satisfy a judgment in a copyright infringement case.