News

Ocala Funding files bankruptcy, seeks to examine FHFA - Reuters

07/10/12

According to a filing by Ocala with the U.S. bankruptcy court in Jacksonville ... which the federal government seized on September 7, 2008 amid mounting losses from mortgages and the U.S. housing slump. An FHFA spokeswoman declined immediate ...

[more]

Patriot Coal Receives Court Approval Of $802 Million Of DIP Financing On Interim Basis - Yahoo Finance

07/10/12

... petitions for reorganization under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of New York on July 9, 2012. The case has been assigned to the Honorable Shelley C. Chapman. Additional information is ...

[more]

Patriot Coal Receives Court Approval Of $802 Million Of DIP Financing...  - CNBC

07/10/12

increased legal costs related to Patriot's bankruptcy filing and other litigation, and (xi) the ability of Patriot and its subsidiaries to maintain contracts that are critical to their operation, including to obtain and maintain normal terms with their ...

[more]

Patriot Coal Can Borrow Part of Bankruptcy Loan - Bloomberg

07/10/12

They declined 90 percent in the year before yesterday’s bankruptcy filing. The company’s $250 million ... Patriot’s $200 million in 3.25 percent notes due in 2013 traded at 7 cents, according to Trace. Patriot has 12 active mining ...

[more]

American Airlines CEO raises merger possibility - USA Today

07/10/12

Horton's comments, which he made in a letter to employees, come as AA parent AMR enters its seventh month of reorganizing under Chapter 11 bankruptcy protection. "We are approaching the point where we have greater clarity on our revenue outlook and cost ...

[more]

American Airlines CEO raises merger possibility - USA Today

07/10/12

Horton's comments, which he made in a letter to employees, come as AA parent AMR enters its seventh month of reorganizing under Chapter 11 bankruptcy protection. "We are approaching the point where we have greater clarity on our revenue outlook and cost ...

[more]

Jefferson County Creditor Demands Debt Plan by Sept. 28 - Bloomberg

07/10/12

The county hasn’t negotiated with creditors since filing the biggest municipal bankruptcy in the U.S. last year, Assured said in papers filed today in federal court in Birmingham, Alabama. “Based on the scorched earth litigation strategy of ...

[more]

Patriot Coal Can Borrow Part of Bankruptcy Loan - Bloomberg

07/10/12

They declined 90 percent in the year before yesterday’s bankruptcy filing. The company’s $250 million in 8.25 percent notes due in 2018 traded at 37 cents on the dollar today, according to Trace, the bond-price reporting system of the ...

[more]

Jefferson County Creditor Demands Debt Plan by Sept. 28 - Bloomberg

07/10/12

The county hasn’t negotiated with creditors since filing the biggest municipal bankruptcy in the U.S. last year, Assured said in papers filed today in federal court in Birmingham, Alabama. “Based on the scorched earth litigation strategy of ...

[more]

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

07/10/12

American Airlines chairman and CEO Tom Horton told employees Tuesday that American’s bankruptcy case has reached the point where the airline and the unsecured creditors committee will begin looking at mergers or other “strategic alternatives.”

[more]