Rochelle on ResCap, MF Global, RG Steel, Madoff, Boats: Audio
Berkshire Hathaway Inc. (BRK/A), one of the largest creditors of Residential Capital LLC, favors having an official examiner rather than an investigation by the creditors' committee, for reasons Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle lay out in their podcast. Rochelle discusses some of the defenses Jon S. Corzine could erect should he be sued for negligence in management of MF Global Inc., the defunct commodity broker. RG Steel LLC, the fourth-largest flat-rolled steel producer in the U.S., intends on selling the assets in less than six weeks, a tight schedule for a large company in bankruptcy. Morgan Industries Inc., the manufacturer of Hunter sailboats, would make an attractive acquisition were it not in an industry beset with several other bankruptcies. The podcast concludes with a discussion of a critical bankruptcy issue to be decided in October by a U.S. district judge in the liquidation of Bernard L. Madoff Investment Securities Inc.
Running time 13:59