Reorganizations

Northstar Announces CCAA and Chapter 11 Filings - CNW Group

06/14/12

CHICAGO, IL, June 14, 2012 /CNW/ - June 14, 2012, Northstar Aerospace, Inc. (the "Corporation", together with its affiliates "Northstar") announced today that, after full consideration of all its available alternatives, its U.S. subsidiaries, Northstar ...

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View From The Wing - Is a US Airways Acquisition of American Becoming More Likely? (I Still Hope Not) - USA Today

06/13/12

But their major competitors had been through the bankruptcy court cost-cutting exercise. Staying out of Chapter 11 was both noble and a preservation strategy for existing management. (The day American did file Chapter 11 their CEO resigned…) When ...

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Dewey: Pensions, Patton Boggs & a Six-Week Pax Romana - Wall Street Journal

06/13/12

As the defunct law firm Dewey & LeBoeuf LLP makes its way through Chapter 11, it seems it’s all over but the shouting. Sure, that shouting is expected to go on for some time. There will be haggling over how much money ex-partners and the firms ...

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In ResCap Bid, a Savvy Move by Berkshire - New York Times

06/13/12

Breakup fees and bidding procedures in many Chapter 11 cases often have a certain amount of charade to them. This can be particularly true of so-called 363 sales – when distressed companies sell their assets before a reorganization plan.

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What on earth is Warren Buffett thinking on ResCap?! - Forbes

06/13/12

If Berkshire’s strategy is opaque, it is equally unclear at this point how all this maneuvering may ultimately affect the ResCap Chapter 11. The funding to pay down exiting creditors was to consist of the $750 million cash contribution ResCap ...

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Judge Puts out Marijuana Grower’s Chapter 11 Case - Wall Street Journal

06/13/12

A medical marijuana grower’s inert bankruptcy case has been kicked out of court by a Colorado judge. After 42 days of waiting for company executives at CGO Enterprises LLC to explain their reorganization attempt, Judge Michael Romero of the U ...

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Triangle development group files for bankruptcy - The Business Journal

06/13/12

The owner of The Shoppes at River Oaks Landing in Garner filed for Chapter 11 bankruptcy reorganization earlier this week, listing $1.5 million in liabilities and $2 million in assets. The company, Austin Development Group Inc., identified The ...

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LightSquared Reaches Agreement With Lenders on Cash Use - Bloomberg

06/13/12

(FIG) LightSquared, backed by Philip Falcone, had been in a dispute with the group since the outset of its Chapter 11 case last month. Without permission to use cash, LightSquared “would be forced to terminate its business operations and ...

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Report: US Airways hopes antitrust filing will advance AA merger - USA Today

06/13/12

AA's management, of course, has said it hopes to emerge from Chapter 11 bankruptcy protection as a stand-alone carrier. To that end, Reuters writes: US Airways believes securing regulatory approval for its proposed deal would remove one key element of ...

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Kramer Levin, MoFo, Jones Day, McDermott: Business of Law - Bloomberg

06/12/12

New York-based Dewey listed debt of $245 million and assets of $193 million in its Chapter 11 filing. It is the biggest law firm to ever file for bankruptcy, based on the number of lawyers. It entered bankruptcy with 150 U.S. employees to help ...

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