News Topic: airlines

Ally Financial Inc. mortgage subsidiary Residential Capital LLC said bondholders wishing to file their own reorganization plan just want the Chapter 11 case to become one “replete with competing plans and open warfare.” Read the Daily Bankruptcy Review ... Read full article

American Airlines parent AMR Corp. is looking to offload a townhouse in London’s upscale Kensington neighborhood, a brief walk from the palace that’s home to Prince William and Kate Middleton . ... Read full article

A bankruptcy judge has decided whether to let Pinnacle Airlines Corp. slash its pilots’ pay, but he apparently wants the decision to be a surprise to the 2,800 pilots affected by the ruling. ... Read full article

Associated Press Johnson Controls Inc. ... Read full article

Following the recent collapse of a deal to sell its business to Chinese aircraft manufacturer, Hawker Beechcraft Inc. has filed a new plan to exit bankruptcy in the hands of a group of hedge funds that includes Bain Capital’s Sankaty Advisors. Read the ... Read full article

A123 Systems Inc., the electric-car battery maker that recently filed for bankruptcy, is seeking emergency approval to tap a $50 million loan provided by a Chinese auto-parts maker to fund its Chapter 11 case pending an auction of the clean energy firm. ... Read full article

Warren Buffett  ’s Berkshire Hathaway Inc. was the winning bidder in a bankruptcy auction for a portfolio of loans from Residential Capital LLC , the subprime mortgage unit of government-owned Ally Financial Inc., ResCap said Thursday. Read the Daily ... Read full article

Nationstar Mortgage Holdings Inc. submitted a $2.67 billion bid at a bankruptcy auction for the mortgage assets of Residential Capital on Tuesday, topping a bid by Ocwen Financial Corp., people familiar with the matter said. Click here to read the article ... Read full article

A bankruptcy judge Monday confirmed Solyndra LLC’s Chapter 11 plan, brushing aside protests from the Department of Energy, which stands to lose most of the $527 million in taxpayer dollars it risked on the company. Read the Daily Bankruptcy Review article ... Read full article

A former Taylor Bean and Whitaker Corp. subsidiary is renewing its bid to probe whether Freddie Mac “aided and abetted” the multibillion-dollar bank fraud at the failed mortgage lender. Read the Daily Bankruptcy Review article here . ... Read full article

A bidding war for A123 Systems Inc. broke out in bankruptcy court Thursday between a spurned Chinese suitor and an American auto-parts maker. Read the Daily Bankruptcy Review article here . ... Read full article

Hawker Beechcraft said it plans to emerge from Chapter 11 protection as a standalone company and is no longer pursuing a transaction with China’s Superior Aviation Beijing Co. Read the Daily Bankruptcy Review article here . ... Read full article

The fight to bring four marquee U.S. hotels out of bankruptcy is turning increasingly nasty, with a hedge fund accusing the company that oversees their mortgage debt of “bullying” management into accepting a $1.5 billion offer from Singapore’s sovereign ... Read full article

A majority of American Eagle pilots have voted in favor of a new labor agreement between their union and AMR Corp., the regional airline’s parent. Read the Daily Bankruptcy Review article here . ... Read full article

Pinnacle Airlines Corp.'s thousands of pilots and flight attendants are objecting to the airline’s bid to scrap their contracts, a move the regional carrier says is necessary to exit bankruptcy protection. Read the Daily Bankruptcy Review article ... Read full article

Reuters The trustee winding down Lehman Brothers’ brokerage has settled a $6 billion dispute with the failed investment bank’s former Swiss derivatives unit, one of the last holdouts among Lehman’s foreign affil ... Read full article