- Bloomberg•11 months ago
Life Partners Holdings Inc. won’t immediately have to entertain competing bids to reorganize its assets, which include stakes in life insurance policies with a face value of $2.4 billion. The bankrupt dealer of so-called “life settlements” can retain exclusive control of its Chapter 11 case for now, U.S. Bankruptcy Judge Russell Nelms ruled Friday in Ft. Worth, Texas. The decision blocks parties seeking control of the firm’s assets, including Vida Capital Inc., from filing reorganization plans of their own.
- Bloomberg•2 years ago
Carl Icahn was delayed about two weeks in his quest to expand his gambling holdings in Atlantic City, New Jersey, by purchasing two casinos owned by bankrupt Trump Entertainment Resorts Inc. A hearing had been scheduled for last week to consider the approval of disclosure materials explaining a plan under which Icahn would take ownership of the casinos mostly in exchange for debt. The official unsecured creditors’ committee objected, saying it had been denied documents related to Icahn’s efforts to boost his Atlantic City casino holdings beyond the Tropicana Casino & Resort which he bought out of bankruptcy in 2010. Icahn agreed to turn over more information.
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