News

American Airlines to explore merger options - Reuters

05/11/12

AMR, which has been in Chapter 11 since November, had long said it intended to reorganize as a stand-alone carrier, shrugging off interest expressed by rival US Airways Group Inc. The carrier, however, has faced mounting pressure from vocal ...

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As Dewey Partners Find New Homes, Questions Mount About Old One - Law.com

05/11/12

and lawyers interviewed for this story say Dewey's bankruptcy is virtually certain. And once it comes, the resulting slew of litigation will be especially ugly for partners. Apart from the usual claims brought against former partners in bankruptcy court ...

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The Cake Shop in Chapter 11 - MySanAntonio

05/11/12

This isn't anything to celebrate: San Antonio's The Cake Shop LLC filed for Chapter 11 bankruptcy reorganization Friday. Company CEO Perla Salzillo and CFO Jose D. Salzillo, who together own the bakery, also filed for personal bankruptcy reorganization ...

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Investors cheer fraud charge against Irvine firm - Orange County Register

05/11/12

“It’s been a long time coming,” observed Kamal Rajkanan of Fremont, a PPA investor who served as chairman of the creditor’s committee in the bankruptcy case. “The wheels of justice move slowly, (but) eventually justice will be done.

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AMR Said Ready to Study Sale Among Options in Bankruptcy (Update 2) - Bloomberg

05/11/12

AMR filed for bankruptcy protection on Nov. 29 as it headed toward a fourth consecutive annual loss. US Airways has proposed cutting $800 million a year from labor costs to bring spending in line with industry standards, compared with a $1.25 ...

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Never Mind The (Bankrupt) County, Birmingham Plans Bond Sale - Wall Street Journal

05/11/12

It is the seat of Jefferson County, which is mired in the biggest municipal bankruptcy in history thanks to billions of dollars of sewer bond debt. Tom Barnett, the city's finance director, said Friday that Birmingham could have to pay as much as 0.25

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Top bankruptcy lawyer leaving Dewey - msnbc.com

05/11/12

Well known in bankruptcy circles, he became one of the chief partners ... while Kessler, the former head of litigation at Dewey, is going to Winston & Strawn. (Additional reporting by Nick Brown and Caroline Humer; Editing by Steve Orlofsky and Carol ...

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UCC attorney: We support AMR's plan, even as we consider alternatives - Dallas Morning News (blog)

05/11/12

Jack Butler, attorney for the unsecured creditors committee, gave this statement after AMR announced that it and the UCC have agreed to explore potential consolidatoin: "Much has been said in AMR's chapter 11 cases and in media reports regarding ...

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Top bankruptcy lawyer leaving Dewey - Reuters

05/11/12

Well known in bankruptcy circles, he became one of the chief partners ... while Kessler, the former head of litigation at Dewey, is going to Winston & Strawn.

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Ed Schultz Insists GM and Chrysler Never Went Through Bankruptcy - News Busters

05/11/12

Here's a clip from Schultz's radio show on June 1, 2009, the day of GM's filing (audio)-- The following day, Schultz came across as breezily cavalier about a specific aspect of GM's bankruptcy, the sale of its Hummer division to a buyer in China ...

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