U.S. Judge Revives $6.3 Billion Fraud Claim in Lyondell Bankruptcy

On Wednesday July 27, U.S. District Judge Denise Cote revived a lawsuit alleging that Lyondell Chemical Company “intentionally cheated creditors out of $6.3 billion when it underwent a 2007 leveraged buyout, only to go bankrupt barely a year later.” Judge Cote stated that a federal bankruptcy judge was mistaken in dismissing a bid by Trustee Edward Weisfelner… Continue reading U.S. Judge Revives $6.3 Billion Fraud Claim in Lyondell Bankruptcy

Prince Turns the Tables on Debt Collectors

Prince has filed a six figure lawsuit against a debt collection agency.  Prince’s attorneys claim that the Calabasas based Capital Asset Protection illegally withdrew $116,000 in relation to a judgment against the performer over a music production contract.  Prince’s legal team is arguing that a Judge vacated the verdict in 2011, meaning that Capital Asset… Continue reading Prince Turns the Tables on Debt Collectors

Bankruptcy Trustees Sue Law Firms

Two large law firms, Bryan Cave and Holland & Knight have been sued by different bankruptcy trustees over their prior representation of companies which later filed bankruptcy proceedings.  Both firms strongly deny the claims made against them.  “Bankruptcy trustees for mortgage loan broker Estate Financial Inc. (EFI) and affiliate Estate Financial Mortgage Fund (EFMF) filed malpractice… Continue reading Bankruptcy Trustees Sue Law Firms