News

OUTSIDE OPINION: Why American Airlines needs time to restructure - Chicago Tribune

07/07/12

US Airways is trying to make the case again that it is in everyone's best interest ... suggest a certain level of desperation to get a deal done. Federal bankruptcy code is designed to give a debtor a fresh start. For American, this means ...

[more]

Fugitive Tampa businessman John Stanton has many people on his trail - St. Petersburg Times

07/07/12

His bankruptcy attorney says he has no idea about Stanton's ... Stanton continues to elude capture after eight months with an arrest warrant on his head in a case where his ex-wife's lawyer calls him "the national poster child for deadbeat ...

[more]

Fugitive Tampa businessman John Stanton has many people on his trail - St. Petersburg Times

07/07/12

His bankruptcy attorney says he has no idea about Stanton's ... Stanton continues to elude capture after eight months with an arrest warrant on his head in a case where his ex-wife's lawyer calls him "the national poster child for deadbeat ...

[more]

United States: SDNY Bankruptcy Court Opens Door For Rule 2004 Use In Chapter 15 - Mondaq

07/07/12

BCP Securities LLC, the funds' broker alleged to have been involved in the valuations at issue, appealed the bankruptcy court's order granting the Bermuda case recognition as a foreign main proceeding.  The appeal is pending. Subsequently, the joint ...

[more]

Greece must hit targets or risk losing aid-minister - Reuters

07/07/12

He warned that negotiations with foreign lenders would be "long and arduous" and that the government would press its case for additional time to carry out austerity measures. Stournaras said Greece faced a deeper than expected recession that ...

[more]

Think Again Before Declaring Business Bankruptcy - The Business Insider

07/07/12

For those who think that bankruptcy is the easy way out, think again. Bankruptcy should always be the absolutely last resort. The “advantage” of filing for bankruptcy, of course, is that it gets creditors permanently off your back, with no continuing ...

[more]

American Airlines sues retirees to stop providing health care, life insurance benefits - Lubbock Avalanche-Journal

07/07/12

AMR Corp. and American filed the lawsuit Friday as part of their bankruptcy case in federal court in New York. The airline wants the bankruptcy judge to rule that it can end the benefits as a way to cut costs in "sound business judgment."

[more]

Bankrupt California city provides cautionary tale - YAHOO!

07/07/12

As officials look for ways to bring local budgets out of the red, cities are watching the unusual Stockton case closely to see whether bankruptcy may provide a solution. "Everyone is watching to see if someone comes up with a way to quickly, effectively ...

[more]

AMR sues retired workers over health benefits - Philadelphia Daily News

07/07/12

AMR Corp. and American filed the lawsuit Friday as part of their bankruptcy case in federal court in New York. The airline wants the bankruptcy judge to rule that it can end the benefits as a way to cut costs in "sound business judgment." American says it ...

[more]

Day one in court for Stockton's bankruptcy case - Record

07/07/12

Aug. 9: Stakeholders file objections to Stockton's Chapter 9 filing. • Aug. 23: The next court hearing in Stockton's bankruptcy case. In an hourlong court hearing in Sacramento, Klein proposed appointing a separate judge to lead an ongoing ...

[more]