Rochelle on Supreme Court, Paulson Resorts, Judgeships: Audio
The U.S. Supreme Court used a bankruptcy case named Hall v. U.S. to rule, by a 5-4 vote, that the plain meaning derived from the interrelationship among several statutes takes precedence over the intent of Congress, as Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle discuss on their podcast. Five resorts owned by Paulson & Co. and Winthrop Realty Trust (FUR) came up losers in a lawsuit with Hilton Worldwide Inc., raising questions about how the resort will craft a Chapter 11 plan to emerge from bankruptcy reorganization. The podcast ends with news that the House and Senate, after more than a year's deliberation, finally passed legislation allowing the renewal of 30 temporary bankruptcy judgeship. Absent the bill, which awaits the President's signature, Delaware eventually would lose five of its six judges while New York would lose one.
Running time 13:12