News

US Airways-American Merger Raises Murky Questions - YAHOO!

04/24/12

American Airlines has filed Chapter 11 bankruptcy and continues to attempt standing alone as a company. The three unions, (pilots, flight attendants and mechanics) have agreed with the merger, but that does not mean the merger is a definite deal.

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Philly Orchestra, musicians' pension fund settle - Boston Globe

04/24/12

The agreement was announced Tuesday by the judge overseeing the Chapter 11 bankruptcy reorganization filed a year ago by the orchestra. The orchestra is finalizing details on an amended contract with the Kimmel Center, its landlord.

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UPDATE 1-MF Global judge OKs payout; Freeh says no bonuses - Reuters

04/24/12

The payout authorized by U.S. Bankruptcy Judge Martin Glenn in Manhattan is on ... On Monday, the U.S. Judicial Panel on Multidistrict Litigation consolidated more than 20 lawsuits by MF Global shareholders and customers into a single case ...

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LightSquared creditors unite against Phil Falcone - msnbc.com

04/24/12

A number of LightSquared debt holders have joined together to retain high-powered bankruptcy attorney Thomas Lauria, who heads White & Case's global restructuring group, said two people familiar with the situation. The sources, who did not want to be ...

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Mezzanine Borrower’s Chapter 11 Case Filed on Eve of Foreclosure Sale Dismissed as a Bad Faith Filing - jdsupra.com

04/24/12

On December 22, 2011, Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware dismissed with prejudice a mezzanine borrower’s chapter 11 case. See In re JER/ Jameson Mezz Borrower II LLC, 461 B.R. 293 (Bankr. D. Del. 2011).

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McLaren seeks to reopen Cheboygan hospital's ER - MySanAntonio

04/24/12

(AP) — A health care system plans to go before a bankruptcy judge to reopen the emergency department and other outpatient services at a closed northern Michigan hospital. The hospital closed unexpectedly April 3 after a sale to McLaren fell through over ...

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Nepotism Concern Roils NBA Union as Players Question Hire - Bloomberg

04/24/12

The union switched to Steptoe & Johnson when he moved there. Howrey filed for chapter 11 bankruptcy protection and dissolved last year. Billy Hunter’s daughter Robyn, the union’s benefits director, was on the organization’s payroll with an ...

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US bankruptcy trustee objects to Kodak bonus plan - msnbc.com

04/24/12

The trustee is an arm of the Justice Department charged with monitoring corporate bankruptcy cases. In a U.S. Bankruptcy Court filing Monday, the trustee says Kodak hasn't shown, as required, that the bonuses it wants to pay won't go to high-level insiders ...

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US bankruptcy trustee objects to Kodak bonus plan - St. Louis Post-Dispatch

04/24/12

The U.S. trustee has objected to Kodak's plan to pay $13.5 million in bonuses to persuade certain employees to stay with the company as it reorganizes under bankruptcy protection. The trustee is an arm of the Justice Department charged with monitoring ...

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50 Cent Stakes Claim in Young Buck Recordings - Wall Street Journal

04/24/12

But they did throw Young Buck, as well as the bankruptcy trustee overseeing his case, a bone. “To the extent that the debtor has a share in some of the royalties under the publishing agreement, presumably those assets could be sold,” attorneys said.

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