The Daily Docket: J.P. Morgan Sees Merger for AMR

J.P. Morgan Securities LLC analysts said Wednesday they are “underwhelmed” by AMR Corp.’s standalone restructuring plan and believe it’s more likely that the parent of American Airlines will merge with a competitor. Read the article in Daily Bankruptcy Review.

Cano Petroleum Inc. and its subsidiaries filed for Chapter 11 bankruptcy protection as it reorganizes its business and plans to sell off its assets. Click here to read the article in DBR Small Cap.

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American Airlines parent AMR Corp. won’t terminate pension plans but will instead freeze three of the four underfunded plans, The Wall Street Journal reports.

According to Reuters, hedge funds looking at distressed assets might not have much to choose from after a cash injection from the European Central Bank eased pressure on banks to dump some holdings.

A judge balked at efforts by Yellowstone Club found Tim Blixseth to get a $40 million fraud judgment against him thrown out, the Billings Gazette reports.

According to Richmond.com, the owner of the State Fair of Virginia will file for Chapter 7 bankruptcy liquidation.

Dow Jones Newswires reports that Moody’s Investors Service said the global default rate for junk issuers held steady last month.

The American Civil Liberties Union of Minnesota doesn’t expect to recoup a lot of what it spent suing the now-defunct Tarek ibn Ziyad Academy, the Pioneer Press reports.

The Las Vegas Monorail Co. won approval to send its bankruptcy-exit plan out for a vote, Bloomberg reports.

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