Bankruptcy: Today’s top news on Westlaw News & Insight

October 26, 2010

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Here are today’s top stories from the Bankruptcy site.

MGM headquarters building MGM favors current Spyglass deal, contacts lenders
Hollywood studio Metro-Goldwyn-Mayer Inc told creditors that claims of synergies and cost savings outlined in a merger proposal by Lions Gate Entertainment Corp lacked proof, a source familiar with the matter told Reuters.
Tribune Co. (REUTERS) Chicago’s Tribune Co. files reorganization plan
Tribune Co. filed a reorganization plan late on Friday that will turn over control of the bankrupt newspaper publisher to its leading creditors including JPMorgan Chase & Co., Angelo Gordon & Co. and Oaktree Capital Management.
U.S. Bankruptcy Court (REUTERS) Falling median income figures make Chapter 7 more elusive
It will soon become harder for debtors to qualify for Chapter 7 bankruptcy in most states because of updated median income figures incorporated into the “means testing” provisions of the 2005 bankruptcy reform law.

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