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Scarinci Hollenbeck remains committed not only to providing top-tier legal services but also to regularly providing information and resources to our client base and internet following. Client Alerts provided by our attorneys supply businesses, municipalities, and more with the latest and relevant legal updates that may impact them and how they might be able to proceed.

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Caesars Operating Request Time Extension In Bankruptcy Case

The operating unit of Caesars Entertainment Corp., Caesars Operating, request additional time so the company can file its own Chapter 11 reorganization plan without having to worry about rival agendas. The branch garnered a substantial amount of attention when the group chose to file for Chapter 11 bankruptcy protection earlier in 2015. Exclusive period ends in […]

Author: Joel R. Glucksman

May 15, 2015

Errors Causing Revel Casino's Downfall Brought To Light

Revel AC, Inc. recently filed a disclosure statement that revealed a string of errors that fueled Revel Casino’s Downfall. The property, which cost $2.4 billion to build, has filed for bankruptcy twice before ultimately being sold for $82 million. Not only was this sale price a fraction of its initial cost, Revel never turned a profit […]

Author: Joel R. Glucksman

May 11, 2015

Trump Taj Mahal may close Dec. 12, union protesting

Despite the view of some analysts that the Trump Taj Mahal is close to insolvency, there is no shortage of argument over what is to be done about the casino. Trump Entertainment Resorts has announced, in a disclosure statement filed in bankruptcy court, that it expects to close down the Trump Taj Mahal by Dec. 12, according to […]

Author: Joel R. Glucksman

December 4, 2014

Detroit Close To A Deal With Final Creditor

The city of Detroit appears to be approaching a deal with its largest and last holdout creditor, Financial Guaranty Insurance Co. City attorneys said that they hope to present a settlement in U.S. Bankruptcy Court on Oct. 16 after negotiations with FGIC, according to The Detroit News. Thomas Cullen, a Jones Day attorney who is […]

Author: Joel R. Glucksman

October 17, 2014

Supreme Court Clarifies Bankruptcy Court Powers

The Supreme Court clarified a prior ruling on June 9 that put limits on bankruptcy judges’ powers, according to The Wall Street Journal. The unanimous ruling in the case of Executive Benefits Insurance Agency v. Peter H. Arkison clarifies a 2011 ruling as to on which claims the bankruptcy may give a final ruling and […]

Author: Joel R. Glucksman

June 19, 2014

Objections Submitted Over Detroit Bankruptcy Plan

The political disputes over Detroit’s restructuring plans were brought sharply into focus May 12, when 15 objections to the city’s debt adjustment plan were filed in bankruptcy court. Objections were filed by creditors, residents, Oakland and Macomb counties and, most notably, by the United States government, according to MLive. The U.S. Department of Housing and […]

Author: Joel R. Glucksman

May 29, 2014

GM returns to bankruptcy court over recalls

General Motors Co. is returning to the same Manhattan bankruptcy court that granted it protection under Chapter 11 of the bankruptcy law in 2009 to face owners of recalled cars, according to Bloomberg Businessweek. The company faces 59 lawsuits by car owners, who are demanding a combined total of as much as $10 billion in […]

Author: Joel R. Glucksman

May 22, 2014

Tax Issues Could Hurt Bitcoin

Bitcoin is an unregulated currency that has made a big splash in the economy during the past couple of years. At first, it was the chosen form of payment for black market dealings, but more and more legitimate merchants are beginning to accept Bitcoin. According to Entrepreneur.com, Overstock and TigerDirect have already begun accepting the […]

Author: James F. McDonough

March 12, 2014

Comcast SportsNet, Astros Square Off in Bankruptcy Court

On Oct. 28th, a bankruptcy court presided over a cable channel dispute between Comcast SportsNet and local sports teams involving the fate of Comcast SportsNet Houston. The regional sports network, which broadcasts games from the Houston Astros, Houston Rockets and Houston Dynamos, has failed to generate sufficient revenue and instead, has been dependent upon the […]

Author: Joel R. Glucksman

November 8, 2013

Bankruptcy Court

New York Bankruptcy Court Faces Budget Constraints

Economic constraints and the federal sequester have impacted several governmental agencies and industries. Now, it appears that one of the nation’s most high-traffic bankruptcy courts is also experiencing financial pressure. Dow Jones reports that budgetary constraints are making it more challenging for the U.S. Bankruptcy Court for the Southern District of New York to manage its costs. […]

Author: Joel R. Glucksman

June 7, 2013

HealthBridge Seeks Chapter 11 Bankruptcy Protection

Five Connecticut nursing homes operated and managed by HealthBridge Management were recently forced to seek Chapter 11 Bankruptcy Protection. The filing resulted after HealthBridge was denied a request to delay a court order forcing it to reinstate 600 union workers that went on strike after the company unilaterally changed their labor contracts, according to The […]

Author: Joel R. Glucksman

March 15, 2013

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