Restructuring

In the past two years, two of New York state’s six off-track-betting organizations faced challenges to their ability to seek bankruptcy protection with vastly

Aware of the virtually unlimited array of fried foods that a fairgoers can purchase on a stick, Virginia State Fair organizers shouldn’t have been surprised at the similarly impressive range of financial deals that Wall Street titans were willing to cook up for them.

When organizers decided several years ago to move their fairgrounds to a historic horse farm further outside Richmond’s city limits, they hedged their borrowings by relying on a financial tool invented by financial wizards—a synthetic rate swap.

Dynegy Inc. appointed a new chairman and said it joined its Dynegy Holdings LLC unit in filing a proposed reorganization plan with the U.S. bankruptcy court. Read the article in Daily Bankruptcy Review.

Lehman Brothers Holdings Inc., on the heels of winning “overwhelming” support from creditors for its Chapter 11 plan, struck a deal concerning nearly $4 billion in priority claims from mortgage giants Fannie Mae and Freddie Mac, which were seized by the U.S. government shortly before Lehman’s collapse. Read the Daily Bankruptcy Review article here.

AMR Corp., the parent company of American Airlines, filed for Chapter 11 protection Tuesday, The Wall Street Journal reports.