The chapter 11 case of DBSD North America, Inc. (“DBSD”), f/k/a ICO North America, has been marked by aggressive tactics and extreme positions from its commencement. DBSD, a non-operating satellite communications company, and its second lien noteholders made clear their intent to cram down a plan of reorganization (the “Plan”) on DBSD’s first lien lenders.
CENTRAL STATES SOUTHEAST AND SOUTHWEST AREAS PENSION FUND v. O'NEILL BROS. TRANSFER & STORAGE (August 31, 2010)
SCHLEICHER v. WENDT (August 20, 2010)
Conseco was a large financial services company traded on the New York Stock Exchange. It filed for bankruptcy in 2002 and successfully reorganized. This securities-fraud claim was filed against Conseco managers who are alleged to have made false statements prior to the bankruptcy. Then-District Judge Hamilton (S.D. Ind.) certified a class. Defendants appeal.
IN RE: AIRADIGM COMMUNICATIONS, INC. (August 4, 2010)
IN RE: MEYERS (August 2, 2010)
Summary and implications
The Government is proposing to give struggling companies a protected moratorium against enforcement action, to help them to negotiate a restructuring deal with their creditors.
The moratorium would be available to all companies which are preparing a CVA or scheme of arrangement. At present, a moratorium is only available to small companies* who are proposing a CVA.
SMITH v. SIPI, LLC (July 27, 2010)
IN RE: SOLIS (July 9, 2010)
IN RE: MCKINNEY (June 23, 2010)
IN RE: SOUTH BEACH SECURITIES (May 19, 2010)