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The Lehman Brothers Bill: $641.9 Million and Counting
The Lehman Brothers estate submitted an updated accounting Friday of fees it has paid bankruptcy advisers through the end of January. The tab stands at $641.9 million and could well reach the $1 billion mark, according to Bloomberg and the estate's SEC filing. Fifteen law firms -- not including the estate's fee examiner -- have billed Lehman $310,791,000 since it filed for bankruptcy on Sept. 15, 2008. Weil Gotshal, Lehman's lead debtor counsel, leads the way among the law firms, billing an average of $300,000 per day.Testimony: Scrushy left HealthSouth in a mess
BIRMINGHAM, Ala. AP - Fired HealthSouth Corp. CEO Richard Scrushy left the company in a mess after investigators uncovered a massive accounting scam at the rehabilitation company, a corporate restructuring expert said.Attorneys who filed a civil lawsuit against Scrushy read deposition testimony Thursday from turnaround specialist Bryan Marsal in court.Lehman Estate Files Restructuring Plan
Bankruptcy lawyers for Lehman Brothers have filed a reorganization plan that calls for the creation of Lamco, an asset-management subsidiary carved out of Lehman that will help put an end to the largest Chapter 11 case in U.S. history. According to the plan, filed Monday by Lehman's lead bankruptcy lawyers at Weil, Gotshal & Manges, Lamco will manage real estate, private equity and derivatives assets held by the defunct investment bank to sell them off at a premium to generate proceeds for Lehman creditors.Lehman said to seek partner for 75 real estate developments
Lehman Brothers Holdings Inc. sent requests to at least six homebuilders and developers seeking partners for 75 real estate projects in 19 states, according to executives at three companies who reviewed the solicitations.Harry & David files for bankruptcy with agreement to cut debt
Harry & David Holdings Inc., the Oregon-based gift-box retailer that began selling fruit by mail in the 1930s, filed for bankruptcy protection after reaching an agreement with lenders to trim debt that includes almost $200 million in bonds.Lehman Bankruptcy: Precedent-Setting Or One of a Kind?
Andrew V. Tenzer, a partner at Shearman & Sterling, and Carl B. McCarthy, an associate at the firm, write: The Chapter 11 bankruptcy case of Lehman Brothers Holdings Inc. and affiliated entities, and the parallel liquidation proceedings of Lehman Brothers Inc. under Securities Investor Protection Act, have generated a number of interesting experiences for bankruptcy practitioners. Novel financial arrangements such as derivatives and prime brokerage accounts have tested application of law where Congress anticipated their central importance, such as in respect of derivatives safe harbors, or have indicated possible shortcomings in pre-bankruptcy documentation because of limitations in the way the bankruptcy framework specifically addresses (or fails to address) such arrangements, as has been the case of prime brokerage accounts.Vallejo a Bellwether for Municipal Bankruptcy
The Bay Area city considers the pitfalls of a rare Chapter 9 filing.Philly newspaper's Tierney leaving as CEO May 21
Gov. Ed Rendell is vetoing a bill he says would hamper the state liquor store system's attempts to modernize its operations.Trending Stories
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