This link is to a blog from a reporter who is on the scene following the events in the Fort Worth Courtroom and posting information often by the minute.
http://www.nbcdfw.com/news/sports/Live-Blog-Rangers-Auction-99939404.html
That author, NBCDFW reporter Grant Stinchfield, makes a couple of observations about the process thus far in the following quotes: that the auction started some 5 hours [...]

An Illinois attorney, with 35 years of experience and no prior history of discipline, has had his license to practice law suspended for six months for calling a Judge a “narcissistic, maniacal, mental case, [who]… should not be on the bench.”  While I suspect some lawyers have thought such things about their Judges (and Judges [...]

As you may know I enjoy this topic as it is one area where there are plenty of rules/laws in place but the actual events which occur in a bankruptcy sale often push the limits of the rules and they are always unpredictable.  (I even wrote a book on the topic of asset sales should [...]

Texas Attorney general won a victory against GM when the Bankrutpcy Court ruled that Texas law covering dealers still had to be followed even in the context of GM’s reorganization.  “Abbott’s office said this week a U.S. bankruptcy court ruled that General Motors must comply with Texas state law and cannot use the government’s 60 [...]

The US Supreme Court allowed the Chrysler sale to proceed, thus granting the current administration’s plan for the company’s assets to be sold to Fiat.  (I still cannot wait to see how your local Chrysler service bay handles warranty work on a Fiat product, once they arrive.)  From the e mails and other information which [...]

Case No. 08-34113-SGJ-7, In re MD Promenade, Inc..
MD Promenade, Inc., the debtor in this case, is an entity which ran a restaurant in Dallas (the now-defunct Metro Grill). After filing a voluntary Chapter 11 petition on August 19, 2008, the debtor failed to file schedules timely, did not file any “first day” pleadings, failed to [...]

In re Michael S. Polly, Case No. 08-41506-DML-7. The issue in this case was whether a debtor in a Chapter 13 case has the absolute right to dismiss that case, even where a creditor’s motion to convert to Chapter 7 is pending. Despite the history in the 5th Circuit of denying that such a dismissal [...]

In the case of Waggoner v. Wal-Mart, the estate of William Waggoner is suing Wal-Mart after Waggoner suffered fatal injuries while exiting a Wal-Mart in Marble Falls, Texas, through a faulty door. A dispute arose over the location of a deposition for a Wal-Mart representative. The parties were unable to agree whether the deposition should [...]

In the past, Bankruptcy courts have allowed real estate sales certain state stamp or transfer taxes exemptions even if the sale took place prior to confirmation of a reorganization plan. This is based on a broad interpretation of 11 U.S.C. §1146(a) of the Bankruptcy Code, and is usually done to expedite bankruptcy cases. This practice [...]

The 7th Circuit Court of Appeals recently rendered a decision which held that an accounting firm would not be held liable for giving an auditing opinion involving a purchaser company shortly before it acquired a dot.com-based business.
Before reviewing the decision itself it is quite interesting to read what the 7th Circuit stated about Trustee suits [...]