Citibank Voices Support Of “Cramdown” Legislation
In a dramatic about-face Citibank’s chief executive voiced support Thursday for a Senate bill that would allow bankruptcy judges to modify mortgages for persons seeking Chapter 13 bankruptcy. In letters to congressional leaders, Vikram Pandit praised the...Tribune Company Files Bankruptcy
Tribune Company, owner of KDAF-TV 33 in Dallas, newspapers like the Los Angeles Times and the Chicago Tribune, the Chicago Cubs and Wrigley Field, will file for Chapter 11 bankruptcy protection in Delaware. The Associated Press and the Wall Street Journal are reported...Guilty Verdict Returned In Holy Land Foundation Case
After a mistrial was declared in the first prosecution of the case, guilty verdicts were handed down by a jury in Dallas Monday afternoon. The Holy Land Foundation and five of its former organizers were found guilty on 108 charges related to funneling more than $12...Circuit City Files Bankruptcy
Just a week after announcing that it would close 155 locations nationwide that it would seek protections from its creditors through a Chapter 11 bankruptcy filing. The Richmond, Virginia based retailer said in court filings that it has over $1 billion in assets and...Trustees Settle With Capital One
A settlement was reached between the U.S. Trustee Program, an arm of the Justice Department that monitors bankruptcy courts, and Capital One Financial Corporation over allegations that the credit-card issuer filed over 5,000 claims on credit-card debts that it filed...
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