News

San Bernardino votes to declare bankruptcy - Associated Press

07/11/12

SAN BERNARDINO, Calif. (AP) — The Southern California city of San Bernardino has voted to declare bankruptcy. The City Council in the city of 210,000 people decided to seek Chapter 9 protection Tuesday night, making it the third California ...

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NC business looks to emerge from bankruptcy - WRAL

07/10/12

He could be sentenced to up to 43 years in prison. The goal is for Renegade to exit bankruptcy in early 2013 focused primarily on filtered cigars, including international contract sales, and taking its discount brands national. At that time it will bury ...

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American Airlines ready to begin looking at mergers, other ‘strategic alternatives’ - Dallas Morning News

07/10/12

The American Airlines bankruptcy case is about to move into a new stage as the company prepares to open up its books to potential buyers and merger partners. American chairman and CEO Tom Horton told employees Tuesday the airline and its ...

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AMR to advance with merger review, source says five airlines eyed - Reuters

07/10/12

But since American's slide into Chapter 11, Horton's view has been that American should first straighten out its own business before considering a "complex and challenging airline acquisition," he said. "That is just common sense. But it is also ...

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Patriot Coal Can Borrow Part of Bankruptcy Loan - Businessweek

07/10/12

Patriot has said it expects its mining operations and customer shipments to continue during the bankruptcy case. The company won court approval today to pay about 4,000 full-and part-time employees. Other routine motions, such as one to pay its ...

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San Bernardino should file for bankruptcy, city manager says - Los Angeles Times

07/10/12

Mayor Patrick Morris agreed that the city needed to take "bold action" but stopped short of throwing his support behind filing for bankruptcy. Still, Morris, a former judge, said that under federal law the City Council would retain its ability ...

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Cocopah Nurseries, Arizona Palm Grower, Files Bankruptcy - Businessweek

07/10/12

The case is In re Cocopah Nurseries of Arizona Inc., 12-15292, U.S. Bankruptcy Court, District of Arizona (Yuma). -- With assistance from Bill Rochelle in New York. Editors: Peter Blumberg, Charles Carter To contact the reporter on this story ...

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Ocala Funding Files for Bankruptcy Protection in Florida - Businessweek

07/10/12

The case is In re Ocala Funding LLC, 3:12-bk-04524, U.S. Bankruptcy Court, Middle District of Florida (Jacksonville). To contact the reporters on this story: Dawn McCarty in Wilmington, Delaware, at [email protected]; Michael Bathon in ...

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UPDATE 1-San Bernardino, California, considers bankruptcy - Reuters India

07/10/12

... 2008 that requires financially distressed local governments to seek mediation with creditors to try to avert a bankruptcy filing. Stockton, California, failed after three months of talks with its creditors to obtain concessions to close its ...

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UPDATE 1-San Bernardino, California, considers bankruptcy - Reuters

07/10/12

... 2008 that requires financially distressed local governments to seek mediation with creditors to try to avert a bankruptcy filing. Stockton, California, failed after three months of talks with its creditors to obtain concessions to close its ...

[more]