Restructuring

People who are suing General Motors Co. over an ignition-switch defect want a bankruptcy judge to declare that the auto maker’s government-orchestrated sale in 2009 doesn’t shield it from liability for

New York shipping tycoon Peter Georgiopoulos’s Genco Shipping & Trading filed for Chapter 11 bankruptcy protection Monday, with a prepackaged restructuring plan that was hammered out with creditors and unveiled earlier this month. Read the Daily Bankruptcy Review article via The Wall Street Journal.

A bankruptcy judge ruled Thursday that former American Airlines parent AMR Corp. doesn’t have the unilateral right to terminate health and welfare benefits for nearly 47,000 union and nonunion retirees. Read the Daily Bankruptcy Review article via The Wall Street Journal.

Party-goods supplier Event Rentals Inc. is kicking off the week in bankruptcy with a Monday auction of its assets.

A group of the company’s senior lenders, including Cerberus Capital Management, has been approved as the lead bidder with a $124 million credit bid. If it emerges as the winner, the lender group would forgive Event Rentals’ debt in exchange for the company’s assets.

Party-goods supplier Event Rentals Inc. is kicking off the week in bankruptcy with a Monday auction of its assets.

A group of the company’s senior lenders, including Cerberus Capital Management, has been approved as the lead bidder with a $124 million credit bid. If it emerges as the winner, the lender group would forgive Event Rentals’ debt in exchange for the company’s assets.