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Debtor Against Debtor: Limits on the Discharge of Claims by One Bankruptcy Estate Against Another

As corporate bankruptcy filings increase, one debtor corporation is more likely to find that it has claims against another unaffiliated debtor corporation. The US Bankruptcy Code is generally not drafted with this situation in mind, and questions may arise regarding the effect of one debtor’s bank Follow this link: Debtor …

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2010 01 20 Baxter & Baxter, LLP Uncategorized Comments (0)

CIT, Icahn agreement brings bankruptcy closer

NEW YORK (Reuters) – Billionaire investor Carl Icahn, who had been trying to derail CIT Group Inc’s efforts to launch a restructuring plan, said on Friday he was now backing the lender’s pre-packaged bankruptcy, making a filing as soon as this weekend more likely, analysts said. Continued here: CIT, Icahn …

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2009 10 30 Baxter & Baxter, LLP Uncategorized Comments (0)

Bankruptcy judge backs Grupo Mexico bid for Asarco

DENVER – (AP) A bankruptcy judge has recommended that Grupo Mexico be allowed to regain control over copper miner Asarco LLC, saying its $2.2 billion bid is more likely to fully repay creditors than that of rival suitor Sterlite Industries. Follow this link: Bankruptcy judge backs Grupo Mexico bid for …

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2009 09 01 Baxter & Baxter, LLP Uncategorized Comments (0)