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Tower Records Replays Bankruptcy Filing
Tower Records filed for Chapter 11 on Sunday in Delaware and intends to auction the company. Those planning to bid are not hoping to save the company, but are "bone pickers" who are looking to buy and sell, an industry source said. This is Tower's second stint in Chapter 11 in the last two years. Former CEO Allen Rodriguez, who saw Tower through its first bankruptcy, was recently asked to leave before his contract ended. "Time has marched on, and Tower hasn't kept with the beat," the source noted.City of New York v. Tavern on the Green
Free With Registration: City Wins Battle Over Famous Restaurant's MarkThis Week's Winners and Losers
The title says it all.Two gun dealers settle Bloomberg lawsuit, agree to supervision
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Miami solo practitioner argues before high court
Miami attorney Robert Glazier argued before the U.S. Supreme Court on behalf of an Italian cruise company.Key Skakel Informant's Credibility In Doubt
In seeking a new murder trial, Kennedy cousin Michael Skakel is counting on the credibility of a former tobacco executive who once posed as an attorney and later lied about being kidnapped, colleagues and authorities say.Bankruptcy Court Reinforces New Value Defense to Preference Claims
In Bogdanov v. Avnet Inc., the U.S. Bankruptcy Court for the District of New Hampshire followed the majority of circuits in holding, in connection with the defense of a § 547 preference action: (1) that "new value" is given when a creditor provides some actual value to the estate; (2) that new value need not remain unpaid in order to allow the preference defendant to offset the new value against previous payments; and (3) that an otherwise preferential payment used to pay antecedent debt may nonetheless be shielded by subsequently advanced new value.Trending Stories
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