Bankruptcy
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There's a lot on the agenda as Detroit's emergency financial manager tries to meet a deadline to decide whether the city and escape a bankruptcy filing.
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May 1- U.S. green car startup Coda Holdings Inc filed for Chapter 11 bankruptcy protection on Wednesday after selling just 100 of its all-electric sedans, another example of battery-powered vehicles' failure to break into the mass market.
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April 30- Eastman Kodak Co said on Tuesday it expects to emerge from bankruptcy as soon as July as a commercial imaging business under the control of its creditors. The company did not say how much it expects to pay its unsecured creditors, who are owed as much as $2.2 billion, but they would also receive some shares in the reconstituted Kodak.
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MELBOURNE, May 1- Liquidators of Nathan Tinkler's Mulsanne Resources were given the go-ahead by the court to sue the struggling Australian tycoon for allegedly letting Mulsanne trade while insolvent, said one of Tinkler's creditors, Blackwood Corp.
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April 30- Eastman Kodak Co expects to emerge from bankruptcy as soon as July as a commercial imaging business. It said in court documents that it expects to issue new stock to its second-lien note holders, who would control the reorganized Kodak. The company did not say how much it expects to pay its unsecured creditors, who are owed as much as $2.2 billion.
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April 30- UK Coal Operations, partly owned by Coalfield Resources, has proposed a voluntary liquidation and the handing over of its remaining mines to a new company, the Financial Times reported, after a fire closed Britain's largest coal mine.
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By Tim Bross and Nick Brown. ST. LOUIS/ NEW YORK, April 29- Patriot Coal Corp. Patriot, which filed for bankruptcy in July, told the U.S. Bankruptcy Court in St. Louis it planned to cut $150 million in annual labor costs by ceasing pension contributions and converting healthcare to an outside fund.
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*Kodak plans to unveil plan of reorganization on Tuesday. *Kodak reports first-quarter profit on sale of patents. By Tanya Agrawal and Tom Hals April 29- Photography pioneer Eastman Kodak Co.
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ST. LOUIS/ NEW YORK, April 29- Arguments got under way on Monday over the fate of healthcare and pension benefits for unionized Patriot Coal Corp workers, as thousands of miners rallied against massive cuts proposed by the company. Judge Kathy Surratt-States, of U.S. bankruptcy court in St. Louis, said she would not rule on that question today. "
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The $650 million agreement would also settle the fund's claims of about $2.8 billion against the bankrupt company.
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WASHINGTON, April 29- The U.S. Supreme Court declined on Monday to hear a challenge to the post-bankruptcy reorganization of Charter Communications Inc.. The bankruptcy was viewed as a major setback for Microsoft co-founder Paul Allen, a major investor. Charter Communications, U.S. Supreme Court, No. 12-847..
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WASHINGTON, April 29- The U.S. Supreme Court declined on Monday to hear a challenge to the post-bankruptcy reorganization of Charter Communications Inc.
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WASHINGTON, April 29- The U.S. Supreme Court on Monday declined to hear a challenge to the post-bankruptcy reorganization of Charter Communications Inc..
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WASHINGTON, April 29- The U.S. Supreme Court on Monday declined to hear a challenge to the post-bankruptcy reorganization of Charter Communications Inc.
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April 29- Bankrupt photography pioneer Eastman Kodak Co said it will sell two of its remaining imaging businesses to its UK pension fund for $650 million. The agreement, subject to approval by the U.S. Bankruptcy Court in Manhattan, also settles the fund's claims of about $2.8 billion against Kodak.
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*Geokinetics Inc announces confirmation of plan of reorganization. *Received a commitment from Wells Fargo bank, national association for a $75. *Plan provides for payment of $50 million secured credit facility and the.
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April 29- Eastman Kodak Co:. *Announces comprehensive settlement with U.K. pension plan, moving Kodak. Kodak and certain of its affiliates.
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Mayor William Bell of Birmingham, AL, discusses how towns in his county have fared since suffering the largest U.S. municipal bankruptcy on record.
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April 29- Patriot Coal Corp. The company, which declared bankruptcy last year, said it wants to save $150 million a year on its labor obligations to help it regain profitability.
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April 29- Patriot Coal Corp on Monday will seek court permission to slash healthcare and pension benefits for about 13,000 union workers, an issue that has set off weeks of street protests by affected workers. The company, which declared bankruptcy last year, said it wants to save $150 million a year on its labor obligations to help it regain profitability.
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*Kodak plans to unveil plan of reorganization on Tuesday. By Tanya Agrawal April 29- Photography pioneer Eastman Kodak Co. The pension plan also agreed to give up a $2.8 billion claim against Kodak, the largest unsecured claim against the company.