http://bankruptcy.law360.com/ The Newswire for Legal Professionals Copyright 2010 Portfolio Media, Inc. en-US http://bankruptcy.law360.com/images/headings/logo.gif http://bankruptcy.law360.com/ http://bankruptcy.law360.com/articles/148300 Bankrupt Japan Airlines Corp. has reportedly opted to continue its partnership with American Airlines Inc. and the Oneworld alliance, despite overtures from competitors Delta Air Lines Inc. and SkyTeam. http://bankruptcy.law360.com/articles/148300 http://bankruptcy.law360.com/articles/148452 The bankruptcy judge overseeing the Lehman Brothers Holdings Inc. bankruptcy proceedings has agreed to let the examiner file his 2,200-page report under seal in order to address “legitimate concerns about confidentiality and privilege.” http://bankruptcy.law360.com/articles/148452 http://bankruptcy.law360.com/articles/148203 Bankrupt telecommunications provider FairPoint Communications Inc. has filed a plan of reorganization that calls for slashing its $2.7 billion debt burden by about two-thirds to around $1 billion. http://bankruptcy.law360.com/articles/148203 http://bankruptcy.law360.com/articles/148132 The unsecured creditors of Lyondell Chemical Co. are objecting to a deal the company reached with the Bank of New York Mellon Corp., saying the settlement improperly binds the company to the proposed reorganization plan. http://bankruptcy.law360.com/articles/148132 http://bankruptcy.law360.com/articles/148069 Aluminum products and recycling firm Aleris International Inc. has filed a reorganization plan that would see it emerge as a privately held venture and says it is poised to emerge from Chapter 11 protection by the middle of 2010. http://bankruptcy.law360.com/articles/148069 http://bankruptcy.law360.com/articles/148265 Electronic Arts Inc. has agreed to pay bankrupt retailer Circuit City Stores Inc. $5.2 million to settle a dispute over a resale agreement between the companies. http://bankruptcy.law360.com/articles/148265 http://bankruptcy.law360.com/articles/148205 The federal judge overseeing the government's criminal action against tarnished attorney Marc S. Dreier has approved a collection of settlements among the government, bankruptcy trustees and hedge funds, including a $30.9 million forfeiture from GSO Capital Partners, a major investor in Dreier's scheme. http://bankruptcy.law360.com/articles/148205 http://bankruptcy.law360.com/articles/148120 A bankruptcy judge has refused to reconsider an order giving Chrysler LLC castoff Old Carco LLC the green light to reject executory contracts and unexpired leases with a slew of U.S. automobile dealers. http://bankruptcy.law360.com/articles/148120 http://bankruptcy.law360.com/articles/148193 The receiver for Renew Energy LLC’s chief unsecured creditor is pressing to convert the case to a Chapter 7 liquidation, saying the pursuit of a costly and quixotic Chapter 11 plan is unjustifiable, especially as the debtor has closed the $72 million sale of its main ethanol plant. http://bankruptcy.law360.com/articles/148193 http://bankruptcy.law360.com/articles/147971 A federal judge has rejected bankrupt Fontainebleau Las Vegas Holdings LLC’s attempts to appeal one ruling moving a dispute with its lenders out of bankruptcy court and another finding that lenders' decisions to cut off financing to the company's casino resort project might have been reasonable. http://bankruptcy.law360.com/articles/147971 http://bankruptcy.law360.com/articles/147927 The official committee of unsecured creditors of Uno Restaurant Holdings Corp. is objecting to the company's motion for a final order approving $52 million in post-petition financing from Wells Fargo Capital Finance Inc. and a group of majority noteholders. http://bankruptcy.law360.com/articles/147927 http://bankruptcy.law360.com/articles/147924 Further deepening the case law split on committee disclosures, a federal bankruptcy judge has denied Philadelphia Newspapers LLC's bid to apply Bankruptcy Code Rule 2019 to the steering group of prepetition lenders, garnering an immediate appeal to the district court from the debtors. http://bankruptcy.law360.com/articles/147924 http://bankruptcy.law360.com/articles/147527 Station Casinos Inc. has filed a limited objection to an interim fee application submitted by Quinn Emanuel Urquhart Oliver & Hedges LLP, claiming that the bill contains discrepancies and entries that appear to be unrelated to its bankruptcy cases. http://bankruptcy.law360.com/articles/147527 http://bankruptcy.law360.com/articles/147915 Kazakhstan's JSC BTA Bank has filed for Chapter 15 protection in federal bankruptcy court to protect it from creditors as it hashes out an $11.6 billion restructuring in a Kazakh court. http://bankruptcy.law360.com/articles/147915 http://bankruptcy.law360.com/articles/148003 A bankrupt subsidiary of insurer LandAmerica Financial Group Inc. that recently sold its assets to UnitedTech Lender Services Inc. has lodged an adversary complaint that accuses UnitedTech of using funds from the deal for items outside its contractual scope, such as prepetition liabilities. http://bankruptcy.law360.com/articles/148003 http://bankruptcy.law360.com/articles/147532 TLC Vision Corp. is pitching a new restructuring plan under which private equity firm Charlesbank Capital Partners LLC would pick up substantially all of the eye care company's assets, and has filed an adversary complaint seeking to block lenders — which have their own competing plan — from derailing the arrangement. http://bankruptcy.law360.com/articles/147532 http://bankruptcy.law360.com/articles/147121 Former McGuireWoods LLP partner Lawrence E. Rifken has joined Greenberg Traurig LLP, taking charge of the firm's Virginia and D.C. region business reorganization and bankruptcy practice. http://bankruptcy.law360.com/articles/147121 http://bankruptcy.law360.com/articles/147610 Medical technology provider Spheris Inc. has ducked into bankruptcy to complete the sale of its assets to MedQuist Inc. and CBay Inc. for $75 million. http://bankruptcy.law360.com/articles/147610 http://bankruptcy.law360.com/articles/147657 Bankrupt packaging company Smurfit-Stone Container Corp. has asked a judge to allow it to enter into a $650 million revolving credit facility deal as part of an exit financing package designed to serve the company’s cash needs as it emerges from Chapter 11 protection. http://bankruptcy.law360.com/articles/147657 http://bankruptcy.law360.com/articles/147677 Investors in minibonds marketed by Lehman Brothers Holdings Inc. have appealed to the U.S. District Court for the Southern District of New York a bankruptcy court's dismissal of their class action, which sought to prevent the seizure of more than $1 billion in collateral currently held by HSBC Bank USA. http://bankruptcy.law360.com/articles/147677