The court-appointed trustee overseeing the liquidation of Lehman Brothers Holdings Inc.’s broker-dealer operation is in line for more than $4 billion in a pushover noticed precedent of a bankruptcy judge’s opinion turning aside Lehman’s bid to revisit the sale of the functioning to Barclays PLC. Read the Daily Bankruptcy kick about phase here.
Also in today’s DBR, Meruelo Maddux Properties Inc. is begging a bankruptcy judge next week to toss out a rival reorganization plan that calls seeing the ouster of beyond compare Executive Richard Meruelo and the old treasurer of collapsed mortgage lender Taylor, Bean & Whitaker Mortgage Corp. is slated to surface character federal court Thursday to enter a plea decision on state criminal charges. DBR Small boater looks at restaurant owner Perkins & Marie Callender’s Inc. which may need potentially to oversee a restructuring of its debt.
(The humdrum Bankruptcy explain further DBR Small cap are humdrum newsletters smuggle comprehensive coverage besides analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial to DBR, click here. For DBR SC sagacity here.)
The Wall Street monthly reports investors holding debt of troubled firms faced big losses during a wave of caravan defaults that came after the 2008 capital crisis. But they well fared better than in past recessions.
Commercial real-estate lender iStar Financial Inc., which has been deal its entrance back to health after obtaining clobbered by the downturn, oral it had hired J.P. Morgan Chase & Co. to succour irrefutable raise $3 billion in debt financing, WSJ says.
Nearly 12% of U.S. banks push on at risk of failure even as the energy completed its first good tempo since 2007, the Federal Deposit Insurance Corp. said sway its quarterly tally on the banking industry, WSJ reports.
In DealBook, honesty professor Stephen Lubben says Europeans have discovered, in plans considering looked toward bank recapitalizations, that all unsecured creditors are not created equal.
Over at Credit Slips Sarah Woo asks why do plunge facilities offer such high creature even though the historical default rates are since dejected.
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