yes as the Enron trial proceeds, this enterprising Houston woman has added an Enron tour to her list of guided tours of Houston. It includes Mrs. Lay’s re-sale shop, where her Mother worked as a sales lady; the giant “E” which used to identify the Enron building and of course the firebombed 11 million [...]

The Refco bankruptcy saga continues …
One of Refco’s larger customers, Richard Deitz, president of VR Capital Group, is alleging that Refco had borrowed against his company’s assets, which was not what VR Capital had anticipated when it agreed to deposit assets in accounts with Refco Capital Markets. Another customer is alleging that there is a [...]

On February 6, the Fifth Circuit Court of Appeals issued an opinion focusing on the application of the “ordinary course of business” and “subsequent new value” (a/k/a “subsequent advance”) defenses in two related actions to recover preferential transfers. Although the opinion’s import is somewhat limited by last year’s Bankruptcy Code revisions, it still provides clear, [...]

J.L. French Automotive Castings, Inc. filed for Chapter 11 bankruptcy protection on Friday, February 10th in the United States Bankruptcy Court for the District of Delaware. The Sheboygan, Wis. based company filed in U.S. Bankruptcy Court in Wilmington, Del., along with 8 affiliates. The debtors list total debt of $741.6 million.
J.L. French has [...]

Millionaire businessman Ira Rennert could be required to pony up significant amounts of cash to keep his lavish (not to mention controversial) $185 million house located in the Hamptons. Rennert, who has made a career purchasing distressed businesses in transactions financed by junk bonds, has become a focal point in the bankruptcy of one of [...]

David Boies, who you may remember from such cases as U.S. v. Microsoft and Bush v. Gore, and his law firm Boies, Schiller & Flexner (”BSF”) find themselves involved in an interesting bankruptcy situation.
In August 2005, Adelphia Communications fired BSF after learning that Boies’ children owned an undisclosed stake in a document management company that [...]

A British man is now in bankruptcy after racking up more than $175,000 in credit card debt transforming his apartment into a replica of the Starship Voyager. Tony Alleyne had hoped to turn his hobby into a business by getting sci-fi fans to hire him to fill their houses with enough molded plastic and backlighting [...]

General Motors Corp announced Tuesday it is cutting in half its yearly dividend to $1 a share and reducing the salaries of its chairman and senior leadership team. GM also plans to cut health benefits for salaried retirees and evaluate ways to restructure its pension plan for salaried U.S. workers, reducing costs to balance [...]

Power producer Calpine Corp. filed a notice of appeal to the US Court of Appeals for the Second Circuit earlier this week. Calpine is appealing a District Court ruling that federal energy regulators had authority over certain contracts that Calpine seeks to reject in its bankruptcy proceedings.
On Jan. 27, Judge Richard Casey of the [...]

Home Foreclosures continue to rise in Tarrant, Dallas, Denton and Collin counties. The total is up 27.6 percent from a year ago. Consumer advocates said several factors are driving up this percentage. Among them are rising payments on adjustable-rate mortgages, high energy costs, job losses, and higher minim credit-card payments.
To read [...]