Bankruptcy
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May 24- A plan by American Airlines' parent to exit bankruptcy and merge with US Airways Group is coming under fire from the U.S. Department of Justice over nearly $20 million in severance pay earmarked for outgoing boss Tom Horton. In court papers filed on Friday in U.S. Bankruptcy Court in Manhattan, U.S.
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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.
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MADRID, April 29- Spanish fishing company Pescanova said on Monday it had appealed a court decision to remove the firm's board of directors as part of insolvency proceedings.
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Chris Pucillo, Solus CEO & CIO, explains how his hedge fund is profiting from distressed debt.
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April 24- Carlyle Group LP's Synagro Technologies Inc filed for Chapter 11 bankruptcy protection on Wednesday with a plan to sell the business to a Swedish private equity firm for $455 million. Synagro, the largest recycler of organic waste in the United States, has agreed to a sale to an investment fund associated with EQT.
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April 24- Carlyle Group LP's Synagro Technologies Inc is preparing to file soon for Chapter 11 bankruptcy protection to restructure its debt, two sources with knowledge of the situation told Reuters. The company also lost two major contracts in New York City and Detroit.
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Former Dewey Chairman Steve Davis has agreed to pay $511,145 to settle claims that he mismanaged Dewey& LeBoeuf, which last May became the largest law firm in U.S. history to file for Chapter 11 bankruptcy. "He got off easy," said John Altorelli, a former Dewey partner who is now co-chair of DLA Piper's U.S.
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Former Dewey chairman Steve Davis has agreed to pay $511,145 to settle claims that he mismanaged Dewey& LeBoeuf, which became the largest law firm in U.S. history to file for Chapter 11 bankruptcy last May.
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April 18- American Airlines parent AMR Corp, which plans to merge with US Airways Group Inc to form the world's biggest carrier, reported higher-than-expected adjusted quarterly earnings on Thursday, aided by cost-cutting from its bankruptcy restructuring.
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MADRID, April 16- Spanish fishing firm Pescanova sank deeper into scandal on Tuesday as shareholder anger mounted over accounting failings and the chairman's undeclared sale of shares in the period leading up to insolvency proceedings.
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CHICAGO, April 17- The trustee in charge of returning funds to customers of scandal-ridden Peregrine Financial Group will receive an initial payment of $1.23 million for his role in unwinding the failed brokerage, a U.S. Bankruptcy Court judge ruled Wednesday.
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Spanish fishing firm Pescanova shareholders' anger mounted over accounting failings and the chairman's undeclared sale of shares in the period leading up to insolvency proceedings.
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NEW YORK, April 16- A U.S. judge on Tuesday approved a set of settlements among Lehman Brothers entities that will allow the company's defunct brokerage to pay back about $15 billion in customer claims. The settlements, reached last year, were greenlighted by Judge James Peck at a hearing in U.S. Bankruptcy Court in Manhattan.
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MADRID, April 16- The Spanish stock market regulator CNMV is studying fishing company Pescanova's non-audited 2012 results before making them public, underlining fears of a major accounting scandal at the insolvent company.
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MADRID, April 16- Spanish fishing firm Pescanova sank deeper into scandal on Tuesday as shareholder anger mounted over accounting failings and the chairman's undeclared sale of shares in the period leading up to insolvency proceedings.
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April 15- Texas power company Energy Future Holdings, formerly known as TXU Corp, has proposed a prepackaged bankruptcy that would restructure $32 billion of debt, but no deal has been reached, the company said on Monday.
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BOSTON, April 12- The bankruptcy estate of the pharmacy linked to a deadly U.S. meningitis outbreak plans to battle nearly 30 states to preserve its right to redeem several million dollars worth of insurance policies for creditors.