Tales Of Two Cities (Free subscription) | 12/02/2009
According to this story by Erik Larsen, Edvard Pettersson, and Dan Levy in Bloomberg today, General Growth Properties received preliminary approval of its reorganization plan for 70 business units from U.S. Bankruptcy Judge Allan Gropper yesterday. "The mall owner said units for which mortgage holders had agreed to new terms will exit bankruptcy by the end of the year. The deal didn’t...
Denver Post (Free subscription) | 11/24/2009
NEW YORK — CIT Group, the bankrupt 101-year-old commercial lender, won court approval Monday to borrow as much as $500 million to issue letters of credit that guarantee its debts.U.S. Bankruptcy Judge Allan Gropper in Manhattan approved the loan from a group led by Bank of America Corp. He allowed CIT to borrow $125 million on an interim basis earlier this month.CIT's existing $750 million...
DealBook (Free subscription) | 11/23/2009
The CIT Group, a leading commercial lender, won bankruptcy court approval on Monday to borrow as much as $500 million to issue letters of credit that guarantee its debt.Judge Allan Gropper of Federal Bankruptcy Court in Manhattan granted CIT’s request to approve the loan from a group of banks led by , Bloomberg News reports. Judge Gropper approved interim borrowing of $125 million...
DealBook (Free subscription) | 11/19/2009
... than $1 billion, another lawyer for General Growth, Anup Sathy of Kirkland & Ellis, told Judge Allan Gropper in Federal Bankruptcy Court, Reuters reports. The $1.2 billion mortgage on the Honolulu-based Ala Moana mall, the largest cash-generating mall in the United States, is included.But the deal came at a price to General Growth. “The lenders are recouping all the costs and lost...
Reuters (Free subscription) | 11/19/2009
The loans covered under the agreement range from tens of millions of dollars to more than $1 billion, Anup Sathy, an attorney at Kirkland & Ellis, which also represents General Growth, told U.S. Bankruptcy Court Judge Allan Gropper. The $1.2 billion mortgage on the Ala Moana mall in Hawaii, the largest cash-generating mall in the United States, is included.
San Fransisco Chronicle (Free subscription) | 11/05/2009
Lear Corp. said Thursday that its reorganization plan was approved by a bankruptcy judge, paving the way for the auto supplier to emerge from Chapter 11 after just four months under court oversight. Judge Allan Gropper approved the company's plan at a hearing... Chapter 11 Title 11 United States Code - Corporation - Law - Services - Bankruptcy Law
SeekingAlpha.com (Free subscription) | 11/04/2009
... ( BAC ), pay employees and vendors, as well as make intercompany loans, U.S. Bankruptcy Judge Allan Gropper ruled earlier today . “We are on a very fast track,” Gropper told the court. Complete Story »
Denver Post (Free subscription) | 11/04/2009
CIT Group, the bankrupt 101-year-old commercial lender, can borrow an immediate $125 million and make intercompany loans as it attempts to exit bankruptcy on a fast track and keep its customers funded. U.S. Bankruptcy Judge Allan Gropper on Tuesday approved all of CIT's routine "first-day" motions, allowing it to borrow an interim $125 million from a total $500 million "debtor-in-possession"...
Reuters UK (Free subscription) | 11/02/2009
NEW YORK (Reuters) - CIT Group Inc's bankruptcy case was reassigned on Monday to U.S. Bankruptcy Judge Allan Gropper following the recusal of Judge Robert Gerber, who had been assigned the case hours earlier.
Detroit Free Press (Free subscription) | 11/06/2009
U.S. Bankruptcy Judge Allan Gropper confirmed the Chapter 11 reorganization Thursday in Manhattan, citing creditor support. Supplements to the plan, filed Nov. 2, disclosed new terms of a $550-million loan and named six replacements for a nine-member board led by Chairman Robert Rossiter. Lear expects to exit bankruptcy on Nov. 9, according to a company statement.
Daily Advance - Business (Free subscription) | 11/05/2009
Lear gets court approval for bankruptcy planSOUTHFIELD, Mich. — Lear Corp. said Thursday that its reorganization plan was approved by a bankruptcy judge, paving the way for the auto supplier to emerge from Chapter 11 after just four months under court oversight.Judge Allan Gropper approved the company's plan at a hearing in New York. Lear, which makes vehicle seats and electronics, said...
Miami Herald (Free subscription) | 11/05/2009
Posted on Thursday, 11.05.09 Lear gets court approval for bankruptcy planThe Associated PressSOUTHFIELD, Mich. -- Lear Corp. said Thursday that its reorganization plan was approved by a bankruptcy judge, paving the way for the auto supplier to emerge from Chapter 11 after just four months under court oversight.Judge Allan Gropper approved the company's plan at a hearing in New York. Lear,...
Star Tribune (Free subscription) | 11/05/2009
SOUTHFIELD, Mich. - Lear Corp. said Thursday that its reorganization plan was approved by a bankruptcy judge, paving the way for the auto supplier to emerge from Chapter 11 after just four months under court oversight.Judge Allan Gropper approved the company's plan at a hearing in New York. Lear, which makes vehicle seats and electronics, said it expects the plan to become effective and...
Seattle Times (Free subscription) | 11/05/2009
SOUTHFIELD, Mich. — Lear Corp. said Thursday that its reorganization plan was approved by a bankruptcy judge, paving the way for the auto supplier to emerge from Chapter 11 after just four months under court oversight.Judge Allan Gropper approved the company's plan at a hearing in New York. Lear, which makes vehicle seats and electronics, said it expects the plan to become effective and...
Reuters (Free subscription) | 11/03/2009
... lender's effort to emerge from bankruptcy by year's end."We are on a very fast track," Judge Allan Gropper said at a Tuesday hearing in Manhattan bankruptcy court.A quick reorganization is crucial if New York-based CIT expects to retain most of its customers, and remain what its lawyer Gregg Galardi called "a source of strength" for its banking unit, which did not file for bankruptcy...
