Category: Bankruptcy Updates

October Bankruptcy Filings Increase 16% Over September

Total bankruptcy filings in the United States for the month of October increased 16% compared to September, according to data provided by Epiq Systems, Inc. October bankruptcy filings totaled 101,278, up from the 87,522 filings registered in September 2012.

Court Approves NewPage Disclosure Statement

NewPage announced that the Disclosure Statement for its Fourth Amended Chapter 11 Plan was approved by the U.S. Bankruptcy Court for the District of Delaware. The approval will eventually lead to the company’s expected emergence from bankruptcy before the end of the year.

Court Rules that Mervyns Buyer Group Pay $166MM in Settlement

The Wall Street Journal reported that U.S. Bankruptcy Judge Kevin Gross of the U.S. Bankruptcy Court in the District of Delaware has ruled that a buyer group led by Sun Capital and Cerberus must pay $166 million in a settlement that their buyout of defunct retailer Mervyns led to its demise.