Hawker Beechcraft said it intends to emerge from Chapter 11 as a standalone company. The company also announced it is no longer pursuing a transaction with Superior Aviation Beijing. read more

OCT 19, 2012 - 7:25 am

U.S. Bankruptcy Judge Martin Glenn has granted permission for a settlement between Dewey & LeBoeuf’s former partners and the law firm’s estate, valued at $71.5 million, a Reuters article reported. read more

OCT 15, 2012 - 7:05 am

American Airlines filed a motion with the bankruptcy court requesting an order authorizing $1.5 billion of new postpetitiion financing and using the proceeds to repay existing prepetition obligations secured by aircraft. read more

OCT 11, 2012 - 7:05 am

Attorney General Eric T. Schneiderman announced a lawsuit against J.P. Morgan Securities (formerly known as Bear Stearns), JP Morgan Chase and EMC Mortgage for making fraudulent misrepresentations and omissions to promote the sale of residential mortgage-backed securities (RMBS) to investors. read more

OCT 3, 2012 - 7:35 am

American Express has agreed to pay $112 million in refunds and fines to settle regulators’ accusations that it charged unlawful late fees and deceived customers to pressure them to pay off old debts or buy extra card services. read more

OCT 2, 2012 - 7:25 am

Bank of America said it has agreed to pay $2.43 billion to settle a class action lawsuit brought in 2009 on behalf of investors who purchased or held BofA securities at the time the company acquired Merrill Lynch. read more

OCT 1, 2012 - 7:20 am

Reuters reported that the wind-down team of defunct Wall Street law firm Dewey & LeBoeuf revealed the identities of partners participating in a proposed $71.5 million settlement. read more

SEP 25, 2012 - 7:00 am

Communications company Broadview Networks received bankruptcy court approval to obtain up to $25 million in DIP financing from CIT Group Business Credit. read more

SEP 18, 2012 - 7:35 am

The U.S. Attorney’s Office, District of Kansas, said Federal prosecutors have filed an indictment alleging that a team of seven men swindled investors out of $132 million by promising high returns on investments in companies that leased drilling rigs. read more

SEP 13, 2012 - 7:35 am

The Lancaster Intelligencer Journal reported that former EFI executive Michael J. Schlager was sentenced to 20 years in prison and ordered to pay restitution of $53 million. read more

SEP 13, 2012 - 7:30 am

A U.S. Federal Court judge sentenced Joseph M. Braas, former COO of Equipment Finance Inc., to 15 years in prison for his role in a six-year fraud scheme that resulted in $53 million in losses to EFI and its parent companies, the Philadelphia Inquirer reported. read more

SEP 12, 2012 - 7:35 am

The Wall Street Journal reported that a former UBS banker who helped the U.S. government unleash an international crackdown on tax evasion was awarded $104 million in what is believed to be the largest ever whistleblower payout to an individual. read more

SEP 12, 2012 - 7:20 am

The National Credit Union Administration has filed a suit against UBS Securities, alleging the investment firm violated securities laws through misrepresentations in the sale of mortgage-backed securities to two member credit unions that subsequently failed. read more

SEP 10, 2012 - 7:00 am

Legal journal Law360 reported the U.S. Court of Appeals refused to erase Tyco’s $190 million claim that its former subsidiary CIT Group had wrongly scrapped a tax benefits agreement after filing for bankruptcy. read more

SEP 7, 2012 - 7:35 am

The Department of Justice announced that a federal jury in NYC convicted three former UBS AG executives for their participation in frauds related to bidding for contracts for the investment of muni bond proceeds and other municipal finance contracts. read more

SEP 4, 2012 - 7:35 am