News

LeBoeuf Retirees: Not Fans of Proposed Dewey Settlement - Wall Street Journal

07/18/12

even though some partners blame them for not keeping a proper watch on the firm’s finances in the months and years leading up to Dewey’s May 28 bankruptcy filing. (Former Chairman Steven Davis was not invited to participate, presumably so ...

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Ownership of bankrupt Christ Hospital in Jersey City finally changes hands - NJ.com

07/18/12

When Christ Hospital officials announced its sale last July, it intended for the new owner ... leading Christ Hospital to file for bankruptcy. Hudson beat out the owners of the Jersey City Medical Center, which had partnered with a for-profit ...

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Ally Financial to Pay US Treasury $134M Dividends - Marketwatch

07/18/12

In May, Ally's mortgage subsidiary, Residential Capital, or ResCap, filed for Chapter 11 bankruptcy as bond payments loomed and litigation over soured mortgage securities put pressure on the unit. The move was intended to allow Ally--which isn't ...

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AMR has second-quarter loss of $241 million on bankruptcy costs - Cleveland Plain Dealer

07/18/12

AMR shares were removed from the New York Stock Exchange after the bankruptcy filing. They continue to trade over the counter but have fallen below $1 because companies in bankruptcy usually issue new stock after they go through the process.

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ResCap seeks OK for $14.9 million incentive payouts - Reuters

07/18/12

encourage executives to take on restructuring and sale-related duties, and help insure that employees with "irreplaceable knowledge" of the business do not leave. It is common for companies in bankruptcy to seek permission for incentive payouts ...

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ResCap seeks OK for $14.9 million incentive payouts - Reuters India

07/18/12

encourage executives to take on restructuring and sale-related duties, and help insure that employees with "irreplaceable knowledge" of the business do not leave. It is common for companies in bankruptcy to seek permission for incentive payouts ...

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AMR Posts Second-Quarter Profit as Average Fares Increase - Bloomberg

07/18/12

AMR posted sales of $6.45 billion, its highest ever, as the company evaluates mergers and other restructuring options with its unsecured creditors committee. The third-biggest U.S. airline sought bankruptcy protection in November after three ...

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Union opposes Hawker Beechcraft sale - United Press International

07/18/12

"The sale should not be rushed through without adequate scrutiny ... Hawker Beechcraft Inc. on Tuesday announced that the U.S. Bankruptcy Court for the Southern District of New York approved the company's motion to enter into exclusive ...

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Gold Bar, Washington, Debates Tax Increase Over Bankruptcy To Pay For Legal Bills - Huffington Post

07/18/12

The council also agreed to transfer $77,000 from a city water fund into a litigation fund "as needed ... the latest U.S. municipality to be forced to file for Chapter 9 bankruptcy. But Beavers said he would continue "working on contingency ...

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AMR has 2Q loss of $241M on bankruptcy costs - YAHOO!

07/18/12

AMR shares were removed from the New York Stock Exchange after the bankruptcy filing. They continue to trade over the counter but have fallen below $1 because companies in bankruptcy usually issue new stock after they go through the process.

[more]