bankruptcy News

Yellow Cab in Nevada Says Disabilities Suit Has it in Bad Spot

Yellow Cab Co. of Reno may have to file for bankruptcy if it’s ordered to pay excessive attorney fees after a federal judge found it violated the Americans with Disabilities Act by denying service to a disabled woman with a …

Washington Church, Law Firm Settle Legal Malpractice Claim

The Catholic Diocese of Spokane has settled a malpractice case it filed against the law firm that handled its bankruptcy over priest sex abuse claims. The church and the Paine Hamblen law firm settled Friday, but the terms of the …

Judge Approves Montana Diocese $16.4M Sex Abuse Settlement

A federal bankruptcy judge has approved a reorganization plan for the Roman Catholic Diocese of Helena in Montana that includes a $16.4 million settlement for hundreds of people who sued over clergy sex abuse from the 1940s to the 1970s. …

Detroit Bankruptcy Exit Plan Cleared by Judge

A judge cleared Detroit to emerge from bankruptcy on Nov. 7, approving a hard-fought turnaround plan with a fervent plea to the people of this one-time industrial powerhouse to “move past your anger” and help fix the Motor City. “What …

Bankrupt Detroit, Bond Insurer Reach Agreement

Detroit and Syncora Guarantee Inc. reached an agreement in their dispute over claims in the city’s $7 billion debt-reduction program that the two sides said may “profoundly alter” the city’s bankruptcy-exit plan. Detroit and Syncora today requested the postponement of …

Detroit Bankruptcy Judge Rejects Insurer Requests

Detroit overcame efforts by bond insurers that might have slowed its plan to exit bankruptcy before the end of the year, while the judge on the case said he was open to taking a bus tour to see what shape …

Bond Insurer Syncora Fighting City’s Plans in Detroit Bankruptcy

Bond insurer Syncora Guarantee Inc has emerged as Detroit, Mich.’s chief nemesis in the city’s historic bankruptcy case and is fighting as if its financial life depends on a decent recovery on its $400 million exposure to the city. Since …

California Diocese Files For Bankruptcy Due to Sex Abuse Payouts

A Roman Catholic diocese in Central California filed for bankruptcy protection on Wednesday after paying out millions of dollars to plaintiffs who made sexual abuse allegations during the past two decades. The Diocese of Stockton, which filed for Chapter 11 …

As Bond Insurers Drop Objections, Detroit Bankruptcy Progresses

Detroit’s path through bankruptcy began to take shape on Dec. 17, with a second bond insurance firm ready to drop its objections to a controversial city financing plan, joining another bond insurer, bondholders and a committee of retired city workers …

Judge Blocks Lawsuits Challenging Detroit Bankruptcy

A federal judge has agreed with Detroit, Mich., and stopped any lawsuits challenging the city’s bankruptcy, declaring his courtroom the exclusive venue for legal action in the largest filing by a local government in U.S. history. The decision by U.S. …