Parent Company of Luminant and TXU Energy Out of Bankruptcy

TCEH Corp., which owns Luminant and TXU Energy, has finally emerged from bankruptcy proceedings. TCEH Corp. is the new company that is basically what’s left of Energy Future Holdings (the energy company that filed for bankruptcy protection about two years ago and owned Luminant, TXU Energy, and Oncor). The announcement came from Delaware Bankruptcy Court on Monday… Continue reading Parent Company of Luminant and TXU Energy Out of Bankruptcy

Two-Year Delay in Confirmation Requires Holding Another Valuation Hearing (Rochelle’s Daily Wire)

Rochelle’s Daily Wire posted an interesting article about District Judge Robin L. Rosenberg’s opinion that “two-year delay in confirmation obliged the bankruptcy court as a matter of law to hold another hearing to value a secured creditor’s collateral.” Here is a snippet of the article: “A chapter 11 debtor filed a motion to value collateral under Section… Continue reading Two-Year Delay in Confirmation Requires Holding Another Valuation Hearing (Rochelle’s Daily Wire)

Nine Hospital Bankruptcies in 2016

Becker’s Hospital Review has pointed out that there have been nine hospitals across the country that have filed for bankruptcy so far this year. You can read their article if you click here. The following is a list of the 9 bankruptcies with links if you would like more information: Pushmataha Hospital in Antlers, Oklahoma filed for bankruptcy… Continue reading Nine Hospital Bankruptcies in 2016

Black-Eyed Pea Closes Texas Restaurants

Twelve Texas Black-Eyed Peas have been closed due to their parent company’s (Restaurants Acquisition I LLC) Chapter 11 bankruptcy filing. Their Arlington location is the only Texas location still open. “Restaurants Acquisition filed for Chapter 11 bankruptcy reorganization in December, citing revenue shortfalls and an inability to attract new capital. At the time, it owned 13 Black-eyed… Continue reading Black-Eyed Pea Closes Texas Restaurants

Delaware Judge Says Trustee Not Obligated to Obtain Best Price at Auction

Rochelle’s Daily Wire posted an interesting article the other day about a Chapter 7 Bankruptcy matter out of the Virgin Islands. Here is a snippet: “Bankruptcy Judge Mary F. Walrath penned an opinion that reads like a treatise laying out the limited circumstances when a trustee can become personally liable for selling property at a… Continue reading Delaware Judge Says Trustee Not Obligated to Obtain Best Price at Auction

Mall Owners Go on Defensive to Rescue Aéropostale

“A move by a pair of mall owners to rescue distressed retailer Aéropostale Inc. shows how some landlords are getting more aggressive as they seek to stem a rising tide of vacancies and store closings. Simon Property Group and General Growth Properties Inc. were part of a consortium that last week won an auction to purchase… Continue reading Mall Owners Go on Defensive to Rescue Aéropostale

Wells Fargo Board Actively Considering Executive Clawbacks

Wells Fargo’s board of directors is “considering whether to claw back pay from former retail-banking head Carrie Tolstedt as well as from Chief Executive John Stumpf.” This deliberation comes in the wake of the bank’s recent scandal (read our post about it here). “The board wants to take action before Mr. Stumpf returns to Capitol Hill;… Continue reading Wells Fargo Board Actively Considering Executive Clawbacks