News

American Airlines, pilots reach tentative contract - msnbc.com

06/27/12

The airline is seeking more than $1.2 billion in cost cuts from its unions annually, a key factor in its decision to seek Chapter 11 protection from creditors last November. Added certainty from labor would allow the parties to shift focus to American's ...

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Stockton, Calif., tests legalities of city bankruptcies - USA Today

06/27/12

In addition, that bankruptcy dodged the issue of labor contracts and retirement benefits. "The city went through years of expensive litigation and had little to show for it," Fabian says. If Stockton reverses that — a quick and effective ...

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Stockton, Calif., Prepares for Bankruptcy. Are Other US Cities at Risk? - CNBC

06/27/12

The city, which is preparing a bankruptcy filing that could come as early as Wednesday, is a warning signal to America about risks in the realm of municipal finance. The good news is that, with a few exceptions such as Detroit, other big cities don't face ...

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Lenny Dykstra takes plea deal on bankruptcy fraud charges - Los Angeles Times

06/27/12

On Tuesday, federal prosecutors in Los Angeles entered under seal a plea agreement with Dykstra in connection with his embezzlement from the bankruptcy estate case. Thom Mrozek, a spokesman for the U.S. attorney's office, said the filing is under seal and ...

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Zimmerman failed to appear in previous court case, fined $10,000 - Miami Herald

06/27/12

But Aames soon went into bankruptcy, and for three years nobody was paid. Zimmerman’s attorney got sick and retired. The case was dead for over a year until two days before Zimmerman’s arrest this past April, when Pantas filed a status ...

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Ex-Mets OF Dykstra enters plea agreement in bankruptcy fraud case - CBS Sports

06/27/12

Prosecutors said that after filing for bankruptcy, Dykstra hid, sold or destroyed more than $400,000 worth of items without permission of a bankruptcy trustee. Dykstra is currently serving a three-year prison sentence after pleading no contest to grand ...

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Stockton, California, to file for bankruptcy - msnbc.com

06/27/12

Because municipal bankruptcies under Chapter 9 of the federal bankruptcy code are rare, especially for larger cities, Stockton could set important precedents for how different types of creditors are treated in such cases. In the past, large cities such as ...

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Stockton, California, to file for bankruptcy - msnbc.com

06/27/12

Because municipal bankruptcies under Chapter 9 of the federal bankruptcy code are rare, especially for larger cities, Stockton could set important precedents for how different types of creditors are treated in such cases. In the past, large cities such as ...

[more]

Stockton, California, to file for bankruptcy - msnbc.com

06/27/12

The $3.7 trillion U.S. municipal bond market has so far taken in stride Stockton's march toward bankruptcy despite the city's more than $700 million in bond debt. Bondholders and bond insurers are among Stockton's 18 creditors. Other creditors ...

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WRAPUP 1-Stockton, California, to file for bankruptcy - Reuters

06/27/12

The $3.7 trillion U.S. municipal bond market has so far taken in stride Stockton's march toward bankruptcy despite the city's more than $700 million in bond debt. Bondholders and bond insurers are among Stockton's 18 creditors. Other creditors ...

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