The fiscal crisis in Michigan is setting up as a gigantic clash between bondholders and city retirees, the NYT reports.» Read More
"It expects Delta to consider methodically, proactively and fairly strategic alternatives to its proposed stand-alone Chapter 11 plan," said Jefferies & Co., the group's financial advisor.
Highland Capital Management proposed a refinancing plan worth up to $4.7 billion to Delphi Corp.'s board on Thursday, competing with a plan already accepted by the nation's largest auto parts maker earlier this week.
Delta Air Lines has rejected US Airways' $8.4 billion hostile bid in favor of a plan to re-emerge from bankruptcy as a standalone company. CNBC's Phil LeBeau says Delta focused today on convincing creditors their plan is best for them.
Delphi laid out a road map for its reorganization on Monday that includes up to a $3.4 billion investment from a private equity group in the bankrupt auto parts maker, potential creditor recoveries and an executive succession plan.
Delta Air Lines, working to beat back an $8.4 billion merger bid from US Airways Group, is expected as soon as Tuesday to file a sweeping bankruptcy reorganization plan, the Wall Street Journal said on its Web site, citing people familiar with the matter.
The billionaire investor tells CNBC’s Maria Bartiromo why he thinks Asian tigers, private equity buyouts and bankruptcies will keep rising in 2007.
It has been one year since the U.S. Senate enacted a massive overhaul of laws to regulate filing for bankruptcy. Filings are at a 10-year low since then – but there’s skepticism about whether these reforms are really helping. Robert Lawless – professor at the University of Illinois College of Law – will appear before a Senate judiciary committee today to give his take on just how effective these laws have been.