News

Detroit seeks answers to long-term debt problems - msnbc.com

03/27/12

But bankruptcy and commercial litigation attorney Doug Bernstein says where automakers can sell cars to bring in capital, Detroit has few options to raise money to pay its bills. The City Council is considering a request by the mayor's office to sell $137 ...

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American Airlines seeks to cancel labor contracts - Associated Press

03/27/12

DALLAS (AP) — American Airlines asked a federal bankruptcy judge Tuesday to break its labor contracts and impose cost-cutting terms on workers, a move aimed to pressure unions to accept concessions. Thomas W. Horton, the CEO of American parent ...

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Beakley files personal bankruptcy petition - Lubbock Avalanche-Journal

03/27/12

Accountant John W. Beakley filed a Chapter 7 petition Monday in federal bankruptcy court in Dallas — a move that creates a major impediment to a month-old securities fraud lawsuit filed against him in U.S. District Court in Lubbock.

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Kodak announces 12-month pay freeze - Democrat and Chronicle

03/27/12

Eastman Kodak Co. has instituted a pay freeze for its U.S. employees for the next 12 months. The printing and imaging company filed for Chapter 11 bankruptcy protection on Jan. 19. “We are working hard to accelerate our transformation into a ...

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Cetero Research files for bankruptcy protection - The News & Observer

03/27/12

The company, which has 20 employees at its Cary headquarters and a total of 1,192 workers in the United States and Canada, filed a pre-packaged Chapter 11 bankruptcy on Monday. The bankruptcy filing, which was mapped out in advance with ...

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AMR files to break union contracts - Tulsa World

03/27/12

In a letter to employees, AMR CEO Thomas Horton said the company’s filing of the Section 1113 motion in U.S. Bankruptcy Court for the Southern District of New York will give some urgency to the process. “While this process can allow the ...

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Cetero Research files for bankruptcy protection - The News & Observer

03/27/12

The bankruptcy filing, which was mapped out in advance with creditors, includes the possible sale of the business to a group of lenders. The creditors also have agreed to provide Cetero with $15 million in financing to get it through the ...

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Group seeks Menlo Park real estate investor William Garlock's bankruptcy - The Business Journal

03/27/12

Nearly 20 people, many of whom live in the Bay Area, filed the involuntary Chapter 7 bankruptcy petition against Garlock, the founder and president of Garlock & Co. Inc., a Menlo Park-based real estate investment firm. Their claims range between ...

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APA's Bates: American Airlines should consider what kind of airline it wants after the dust settles - Dallas Morning News (blog)

03/27/12

Your APA leadership has been expecting the filing of an 1113(c) motion since last November when management announced that AMR would be entering Chapter 11 bankruptcy restructuring. Our legal team's strategy has been crafted in anticipation of an 1113(c ...

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The Ins and Outs of Pre-Bankruptcy Credit Counseling - msnbc.com

03/27/12

it became mandatory for anyone entering bankruptcy to complete a credit counseling session at least 180 days prior to filing. In order for the credit counseling to be valid in bankruptcy court it must meet certain qualifications. As one of the nation's ...

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