California bankruptcy court denies approval of Rdio's disclosure statement
Says proposed plan is unconfirmable as a matter of law
Latina Offshore seeking three-month waiver for USD 50m July bond maturity; specifics of new Pemex contracts a concern - Debtwire
The offshore drilling business of Mexico-based Constructora y Perforadora Latina
Chicago Still Has Time to Embrace Pension Reform, Moody’s Says - Bloomberg
Unfunded pensions, debt equate to nine times operating revenue
Distress in the oil and gas industry: What happened to the price of oil? | Deloitte/DLA Piper
Another five to seven years at $60/b would be likely to create a future supply shock as the lag effect of cancelled projects begins to crystallise.
Two New York Judges Disagree on Anti-Ipso Facto Law and Lehman Flip Clauses | ABI
Judge Chapman rejects former Judge Peck’s opinion invalidating flip clauses in swaps.
Atlantic City default and payless payday possible in coming weeks - Debtwire
Atlantic City is rated Caa3/negative by Moody’s Investors Service
We May Have Hit Peak Restaurant - Bloomberg Gadfly
Growth has slowed among publicly-traded restaurants across multiple categories
Delta pilots case against PBGC advances - Pensions & Investments
A lawsuit brought by a group of former Delta Air Lines Inc. pilots against the PBGC can move forward, a U.S. District Court in Washington has ruled.
Back to Square One … Eighth Circuit Bankruptcy Appellate Panel Reverses Motion to Dismiss Bankruptcy Case Based on Reversal of Three Year Old Ruling | Weil Gotshal
The ruling is a procedural lesson that, in the grand scheme, appeal of non-final bankruptcy orders may delay an ultimately favorable result.
The Second Circuit’s General Motors Decision Defines Limits To “Free And Clear” Sales | eSQUIRE Global Crossings
The Second Circuit’s ruling is certainly a victory for the plaintiffs who are seeking damages for personal injuries arising out of product defects and redress for lost economic value for defective vehicles. However, the court’s ruling also underscores the broad scope of “free and clear” sales under normal circumstances.