Rochelle on Mariana Fund, Reddy Ice, HearUSA, ECD: Audio
The bankruptcy reorganization of the Northern Mariana Islands Retirement Fund could be over by early June now that the U.S. Trustee and two pension recipients have surfaced to argue the fund is a governmental unit ineligible for Chapter 11, as Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle discuss on their podcast. A bankruptcy judge in Dallas must face the prospect of delaying the prepackaged reorganization of Reddy Ice Holdings Inc. (RDDYQ) and giving Texas the reputation of being inhospitable for prepacks. HearUSA Inc. (HEARQ), a one-time retailer of hearing aids, is the rare example of a bankrupt company that generates enough cash for a distribution to shareholders. The podcast wraps up by pointing to Energy Conversion Devices Inc. (ENERQ) as the latest example for how high-tech energy companies are out of favor among investors.
Running time 11:49