Crumbs Bake Shop Inc. shut down in July and filed for bankruptcy in New Jersey court that same month. The bankruptcy court ordered an auction sale, and a purchaser has come forward to buy all of the company’s assets.

When the employer underwent a restructure, the employee’s reporting line changed, as well as his membership of a particular leadership team. His role was not abolished. For two months after the restructure, the employee continued to work in the same role, under the same contract, until he tendered his written resignation. He subsequently filed a dispute under the terms of the applicable Enterprise Agreement, seeking orders that he should have been retrenched by the employer.

The Federal Court affirms that a secured creditor may be subrogated to the entitlements of priority creditors, to the extent that the Receivers’ payments to priority creditors have diminished its security.

A class of consumers suing the bankrupt Kangadis Food Inc. over its allegedly misleading olive oil purity claims is now suing the owners of the company in a separate class action aimed at holding them accountable.

Gupta’s $13.9 Million SEC Insider Trading Penalty Affirmed

The case of Executive Benefits Insurance Agency v. Arkison (In re Bellingham Ins. Agency), No. 12- 1200, was easily one of the most closely watched bankruptcy cases in many years. Last week’s decision in that case, however, was far less dramatic than  some practitioners feared it might be. The Supreme Court answered two important questions regarding the power of bankruptcy courts that it left open three years ago in Stern v. Marshall.

The staff of the Federal Trade Commission’s Bureau of Consumer Protection recently sent a letter to the court handling ConnectEdu’s bankruptcy proceedings and sale of assets, which may include their customer’s personal information.

In the wake of the global financial crisis, Hong Kong’s key financial regulators, the Financial Services and the Treasury Bureau, the Hong Kong Monetary Authority (HKMA), the Securities and Futures Commission (SFC) and the Insurance Authority (IA), have jointly issued a consultation paper (Paper) that outlines proposals for establishing a resolution regime for significant financial institutions (FIs) that are in crisis or likely to collapse.

Goldman Sachs RMBS Lawsuit Moves Forward.

On March 28, Bloomberg reported that a U.S. District Judge in Manhattan declined to dismiss a securities lawsuit over residential mortgage-backed securities Goldman Sachs sold in 2007, noting that an appellate decision overturning her findings in a related case had altered the legal landscape. RMBS Suit.

Overnight Income Doesn't Float ERISA Plan's Boat.