Bloomberg Law Podcast
The latest on regulation and securities law.
Hosted by Spencer Mazyck
Hosted by Lee Pacchia
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Rochelle on Lehman, L.A. Dodgers, Seaarland Bankruptcies: Audio
Oct 27, 2011
The $160 billion in support that Lehman Brothers Holdings Inc. garnered for its Chapter 11 plan provides a springboard for discussion on the Bloomberg bankruptcy podcast about plan-support agreements and how they were at one time viewed as possibly violating a prohibition against solicitation of votes before approval of a disclosure statement. Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle continue the podcast by explaining why the Los Angeles Dodgers baseball club was wise to compromise with fans by giving two season ticket holders two seats on the official creditors' committee. The podcast concludes by using Dutch ship owner Seaarland Shipping Management as an example for how minimal contacts with the U.S. are sufficient foundation for filing a Chapter 11 petition.
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Rochelle on Madoff, Ambac, Paulson-Winthrop Resorts: Audio
Oct 26, 2011
Once upon a time, recovering all of their approved claims seemed like a cakewalk for customers of Bernard L. Madoff Investment Securities LLC, as Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle explain on the bankruptcy podcast. Rochelle lays out the dollars and cents consequences of a ruling in September by U.S. District Judge Jed Rakoff only allowing the Madoff trustee to sue for recovery of money taken out within two years before bankruptcy. Rochelle tells how Ambac Financial Group Inc. in one breath could say it's about to belly up for lack of cash and in the next proclaim how cash flow is sufficient for five years. The podcast ends by laying out the battle lines for a dispute over the meaning of subordination and intercreditor agreements between lenders to the five resort hotels owned by Paulson & Co. and Winthrop Realty Trust.
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Rochelle on Innkeepers Sale, Madoff Bankruptcy: Audio
Oct 25, 2011
Innkeepers USA Trust had the bankruptcy judge sign an approval order directing the parties to complete a $1 billion acquisition of 64 hotels, for reasons explained on the bankruptcy podcast with Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle. The family of convicted fraudster Bernie Madoff isn't giving up as they vie for an accelerated appeal in hopes of winning dismissal of the $198 million lawsuit by the trustee liquidating Bernard L. Madoff Investment Securities Inc.
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Rochelle on Lehman Claim Trading, Municipal Bankruptcies: Audio
Oct 24, 2011
Reasons why trading in claims against Lehman Brothers Holdings Inc. spiked to $4.4 billion in September are explained in the bankruptcy podcast with Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle. The podcast also looks at the increasing probability that Harrisburg, Pennsylvania will leave bankruptcy about the time Jefferson County, Alabama commences a municipal reorganization.
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Rochelle on Increasing Bankruptcies, Innkeepers: Audio
Oct 21, 2011
The probability of more corporate bankruptcy filings has increased as the junk bond market dried up and the liquidity squeeze tightens on low-rated companies, as reported on the bankruptcy podcast with Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle. Three new bankruptcy filings prompts a look by Rochelle at hotels and chicken producers, two industries with multiple bankruptcies already. The podcast concludes by explaining how Donald Trump's pending acquisition of Doral Golf Resort and Spa in Miami is structured to avoid the chance of last-minute problems such as those that occurred when Cerberus Capital Management LP and Chatham Lodging Trust terminated a $1.1 billion purchase from Innkeepers USA Trust.
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Rochelle on Lehman Claims Trading, Hovnanian: Audio
Oct 20, 2011
The reasons why Lehman Brothers Holdings Inc. continues dominating the claims trading arena is explained on the bankruptcy podcast with Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle. The how and why behind the decision by homebuilder Hovnanian Enterprises Inc. to modify its exchange offer is explored. The podcast ends with discussion of two decisions by the U.S. Court of Appeals in New Orleans. One rules that the 5th Circuit has once again fallen into line with other circuits on law governing when appeals will be dismissed if the underlying orders weren't enjoined pending appeal.
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Rochelle on Solyndra, Harrisburg and Lehman Bankruptcies: Audio
Oct 19, 2011
The Bloomberg bankruptcy podcast explores why the bankruptcy judge declined to appoint a trustee for solar-panel maker Solyndra LLC even though the FBI raided the office two days after bankruptcy and top company official pleaded the Fifth Amendment when refusing to answer questions from a Congressional committee. Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle explain why Harrisburg, Pennsylvania may voluntarily withdraw the municipal bankruptcy petition when a state receiver takes over. As prelude to an item in his column about dispute over the meaning of the word "and," Rochelle ends the podcast by laying out disagreement between Lehman Brothers Holdings Inc. and Deutsche Bank AG over the meaning of "general unsecured claim."
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Rochelle on Lehman and Northwest Airlines Bankruptcies: Audio
Oct 18, 2011
How Lehman Brothers Holdings Inc. is near exhausting $250 million in directors' and officers' liability insurance is reason for examining how D&O; insurance is handed in Chapter 11 cases, according to the bankruptcy podcast with Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle. Who is and isn't entitled to a jury trial in bankruptcy cases is discussed in the context of Bernard L. Madoff Investment Securities Inc. along with favored treatment given to a employment discrimination claim against Northwest Airlines Inc.
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Rochelle on Harrisburg Facing Dismissal, WaMu Bankruptcy: Audio
Oct 17, 2011
The reasons why the municipal bankruptcy by Harrisburg, Pennsylvania could be dismissed quickly are explained on the bankruptcy podcast with Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle. With regard to Washington Mutual Inc., Rochelle explains why the train is about to leave the station for shareholders who believe the country's sixth-largest depository and credit card issuer was stolen from them.
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Rochelle on Conflicts, Hussey Copper Bankruptcy: Audio
Oct 14, 2011
The nightmare facing a lawyer who failed to spot a conflict of interest in the bankruptcy of the Inspirada residential development in Henderson, Nevada is the first item covered on the bankruptcy podcast with Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle. The intended quick sale of Hussey Copper Corp. through the bankruptcy court in Delaware is used as an example of a perennial problem in bankruptcy where allegations are made that sales happen too fast. The podcast ends with an analysis of when the "no harm, no foul" rule from basketball is a valid defense to a fraudulent transfer.
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