Liquidation

CMH reaches tentative deal to continue operations as bankruptcy process proceeds - UpNorthLive.com

03/22/12

You can see Andrew weekdays on 7 & 4 News at 5 and 6. BAY CITY, MI -- A tentative deal has been reached to keep Cheboygan Memorial Hospital open for now as a deal is negotiated surrounding the hospital's bankruptcy. Cheboygan Memorial filed for Chapter 11 ...

[more]

American Airlines aims to cancel labor contracts - Findlaw.com

03/22/12

NEW YORK (AP) — American Airlines will ask a federal bankruptcy judge next week to throw out its union contracts if it can't reach cost-cutting deals with labor unions. One of American's lead lawyers in the bankruptcy case, Harvey Miller, said Thursday ...

[more]

Why Tax Rebates Boost Bankruptcies, and Why That's Not All Bad - Forbes

03/22/12

Total bankruptcies increased by about 2% after the 2001 rebates, and by 7% after the 2008 rebates. This increase, according to Tal Gross, PhD, who led the study, follows the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act ...

[more]

Man sentenced for concealment in bankruptcy - State Journal-Register

03/22/12

Trevor W. Casper, 39, was sentenced by Senior U.S. Judge Richard Mills on Wednesday. Casper admitted that when he filed a Chapter 7 bankruptcy petition in 2007, he valued his household goods and furnishings at $3,000. After a fire destroyed his ...

[more]

Tax Refunds and Chapter 7 Bankruptcy - 24-7PressRelease.com

03/22/12

What tax rules apply to Chapter 7 bankruptcy? Can you spend your tax refund? What is the wildcard exemption? Learn more from Pelley Law Office, L.L.P. March 22, 2012 /24-7PressRelease/-- In only a few weeks, taxes are due. Which begs the question: if you ...

[more]

Arcapita Bankruptcy Was Forced by Hedge Funds, Lawyer Says - Businessweek

03/21/12

Arcapita Bank BSC, a manager of Islamic-compliant investments with $7 billion under management, was forced into bankruptcy by hedge funds that sought to be repaid in full, a lawyer for Arcapita said. Restructuring talks on the company’s $1.1 ...

[more]

Arcapita Bankruptcy Was Forced by Hedge Funds, Lawyer Says - Bloomberg

03/21/12

Arcapita Bank BSC, a manager of Islamic-compliant investments with $7 billion under management, was forced into bankruptcy by hedge funds that sought to be repaid in full, a lawyer for Arcapita said. Restructuring talks on the company’s $1.1 ...

[more]

Elpida bankruptcy: Will Micron (MU) take over the DRAM maker? - ElectroIQ

03/21/12

March 21, 2012 -- Barclays Capital weighs in on rumors that Micron Technology (NASDAQ:MU) offered $1.5 billion to take over Elpida (Digitimes, 3/21/2012), noting that Micron was in talks for Elpida's assets even prior to Elpida's bankruptcy filing.

[more]

Embraer 4Q Hurt by AMR Bankruptcy - Yahoo Finance

03/21/12

Results missed the Zacks Consensus Estimate of earnings of 71 cents. The reported loss may be attributable to the provision of $360.7 million due to the Chapter 11 bankruptcy of Embraer’s key client American Airlines (“AMR”), which washed ...

[more]

Bankruptcy protection sought for student debt - Delaware Online

03/21/12

The largest private student lender is Sallie Mae, which made $2.7 billion in private education loans last ... allow federal and private student loans to be dischargeable in bankruptcy for those who have made a good-faith effort to repay their ...

[more]