Rochelle on Trump, AMR, Borders, Safe Harbor: Audio
As Donald Trump continued negotiating over the last two months with Paulson & Co. and Winthrop Realty Trust, he succeeded in winning a $20 million reduction in the purchase price for the Doral Golf Resort and Spa in Miami, as Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle discuss in their podcast. Rochelle explains why the U.S. Trustee performed masterful work in forming the creditors' committee for American Airlines Inc. and parent AMR Corp. (AMR) The liquidation of bookseller Borders Group Inc. is an example, Rochelle says, for how a properly worded success fee can be earned even without success. The podcast closes when Rochelle explains how Wall Street professionals can rest easy knowing that the U.S. Court of Appeals sticks by its ruling from June that the so-called safe harbor in bankruptcy law has "extremely broad" protection for securities transactions.
Running time 11:56