Restructuring

Excel Maritime Carrier Ltd. doled out more than $3.4 million to Chairman Excel Maritime Carrier Ltd. doled out more than $3.4 million to Chairman Gabriel Panayotides in the 12 months before the shipping firm filed for bankruptcy.

The total included Mr. Panayotides’s $3.37 million-a-year salary, according to a financial report the company recently filed with the bankruptcy court. In all the company paid more than $5 million to a dozen company insiders—top executives and board members—in the year before its July Chapter 11 filing,

Two days after Anchor BanCorp Wisconsin Inc. sought Chapter 11 protection, federal securities regulators said they settled fraud charges against the bank-holding company and a former executive.

AMR Corp. is set to move ahead with a Thursday court hearing on a bankruptcy-exit plan based on its merger with U.S. Airways Group Inc., but the Justice Department’s antitrust lawsuit to block the tie-up adds great uncertainty to AMR’s Chapter 11 restructuring.

Morris Brown College has gotten pulled into the debate over where to build the Atlanta Falcons’ new $1 billion stadium, and the recent negotiations have turned into a game of (requisite sports pun)

Against criticism from the U.S. government’s executive-bonus watchdog, attorneys for American Airlines’ parent company defended the $20 million severance payment promised to departing Chief Executive Tom Horton, arguing the bill would be paid once the company merges with US Airways Group Inc. Read the Daily Bankruptcy Review article here.