News

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

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 ...

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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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AMR Pilots to Vote on Contract Paring Cuts in Bankruptcy - Bloomberg

06/27/12

The APA board agreed by a 9-7 vote to put the proposal out for rank-and-file balloting ... and would put the unions’ bankruptcy claims at risk. The airline and labor groups still would have to negotiate for longer-term contracts that would ...

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Stockton bankruptcy is hard hit for city retirees - YAHOO!

06/27/12

In Stockton, pensions will not be affected by a bankruptcy filing, but health benefits for employees and retirees will. There are about 2,400 retirees in the city and slightly less than half of them receive medical benefits. The unfunded liability for ...

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UPDATE: Court Approves NextEra Energy, BrightSource Solar Farm Sales - Businessweek

06/27/12

A Delaware bankruptcy court on Wednesday approved the sale of two large, unbuilt California solar-power plants from Solar Trust of America to NextEra Energy Inc. (NEE) and BrightSource Energy. NextEra Energy, which owns Florida Power & Light and ...

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McFeely bankruptcy case for High Court hearing - Irish Times

06/27/12

THE HIGH Court in Dublin is to hear a bid to force property developer Tom McFeely’s bankruptcy in Ireland two days before his own bid to become bankrupt in the United Kingdom is heard by a court in London. The bid to bankrupt him in Ireland is being ...

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Lubavitch Chabad files for bankruptcy - Chicago Tribune

06/27/12

But both processes take time, he said. The bankruptcy filing grants Chabad that time. Benhiyoun would not disclose the name of the donor. Rabbi Menachem Mendel Schneerson, the grand rebbe of Chabad, a Hasidic movement focused on education and ...

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Stockton largest US city to file bankruptcy - Cape Cod Times

06/27/12

"Filing bankruptcy is time-consuming, expensive and complicated," said Spiotto, noting that Vallejo spent millions of dollars alone on attorneys and other bankruptcy professionals. "And you never get the results you desire." That's why experts ...

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Plea agreement entered in Dykstra bankruptcy fraud case in Los Angeles - Washington Post

06/27/12

LOS ANGELES — Federal prosecutors in Los Angeles have entered a plea agreement with former New York Mets outfielder Lenny Dykstra in a case where he’s accused of bankruptcy fraud and embezzlement. Court records show the plea agreement was ...

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Plea deal entered in Dykstra bankruptcy fraud case - YAHOO!

06/27/12

LOS ANGELES (AP) -- Federal prosecutors in Los Angeles have entered a plea agreement with former New York Mets outfielder Lenny Dykstra in a case where he's accused of bankruptcy fraud and embezzlement. Court records show the plea agreement was filed under ...

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