The lawsuits filed by liquidating trustee, Irving H. Picard, seeking money for Bernard L. Madoff’s fraud victims may be a blow for the defendants — but they are catnip for an obscure breed of Wall Street traders speculating on the outcome of the enormous Madoff bankruptcy case. For more from New York Times, click here
NEW YORK — Great Atlantic & Pacific Tea Co., the 101-year-old operator of 429 supermarkets and other stores, has filed for Chapter 11 bankruptcy protection in White Plains, N.Y.
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Credit card offers are surging again after a three-year slowdown, as banks seek to revive a business that brought them huge profits before the financial crisis wrecked the credit scores of so many Americans. For more from Boston.com, click here
A bipartisan group of U.S. senators is urging the U.S. Federal Reserve to make sure that consumers aren’t hurt by new rules that would limit debit-card transaction fees. For more from the Wall Street Journal, click here
CAMBRIDGE, MA.- Molecular Insight Pharmaceuticals Inc. said Friday it is filing for Chapter 11 bankruptcy protection as part of an agreement with an investor that will buy 90 percent of its stock. For more from Boston.com, click here
(NY)Boston Generating LLC’s unsecured creditors have sued Wilmington Trust Corp., Credit Suisse Group, and Goldman Sachs Group for over $1.8 billion in allegedly fraudulent transfers. For more from Boston.com, click here
New York – Boston Generating LLC’s unsecured creditors have sued Wilmington Trust Corp., Credit Suisse Group, and Goldman Sachs Group for over $1.8 billion in allegedly fraudulent transfers. For more from Boston.com, click here
The Honorable Frank J. Bailey has been appointed the Chief Judge of the United States Bankruptcy Court for the District of Massachusetts for a term of four years, effective December 10, 2010. He succeeds the Honorable Henry J. Boroff.
Secretary of State William F. Galvin plans to submit a bill next month that would force Massachusetts mortgage lenders to get court approval before seizing homes, in an effort to protect homeowners and address concerns about how foreclosures are conducted. More from The Boston Globe here
On November 30, 2010, the Young Lawyers Committee of the Bankruptcy Section hosted a cocktail reception at Ned Devine’s Parris Lounge. The event was designed as an informal “meet and greet” for young bankruptcy practitioners. Over 20 people attended, including several new faces of bankruptcy associates, law students, and in-house counsel. After hosting a “Kick-off” breakfast at the start of the BBA calendar year, the event allowed committee members to get together once more before the upcoming “Young Bar Meets Bench” program in February 2011, which will feature the Massachusetts Bankruptcy Judges in a panel discussion. The “Young Bar Meets Bench” program has become the Committee’s premier event and was attended by over 100 people last year.