Nov 20- The United States rejected Fairholme Capital Management's recapitalization proposal of Fannie Mae and Freddie Mac, saying the only way to revamp the home loan market is through proper housing finance reform, according to Gene Sperling, a senior adviser to the president.» Read More
Aug 29- A U.S. bankruptcy judge on Thursday hinted that he would give his blessing to AMR Corp's bankruptcy exit plan despite the federal government's challenge to the plan's main component: AMR's planned megamerger with US Airways Group Inc..
SHANGHAI, Aug 29- The loan officers at Chinese banks are back on top of the country's financial food chain thanks to a crackdown on riskier alternative forms of finance, but the restoration of bank dominance marks a setback in China's drive to restructure its financial markets.
RIO DE JANEIRO/ KUALA LUMPUR, Aug 27- Petroliam Nasional Bhd, the Malaysian state oil company, said a final agreement to buy a stake in an oil field owned by Brazil's OGX Petróleo e Gas Participações SA is being held up by the completion of OGX's debt restructuring plan.
NEW YORK, Aug 23- American Airlines and its creditors' committee on Friday urged a bankruptcy judge to approve the airline's restructuring plan despite an antitrust challenge from the Department of Justice.
Aug 23- American Airlines on Friday urged a bankruptcy judge to approve its Chapter 11 restructuring plan despite an antitrust challenge from the U.S. Department of Justice to its proposal to merge with US Airways Group.
NEW YORK, Aug 20- Eastman Kodak Co, once a mighty photography pioneer, earned court approval on Tuesday for a plan to exit bankruptcy as a much smaller digital-imaging company. Bankruptcy Judge Allan Gropper in New York puts Kodak on track to exit bankruptcy in about two weeks.
NEW YORK, Aug 15- A U.S. bankruptcy judge on Thursday held off approval of a restructuring plan for American Airlines, citing a U.S. government challenge this week to the airline's proposed merger with US Airways Group Inc..
*Kodak to focus on commercial imaging. NEW YORK, Aug 15- A federal bankruptcy judge rejected a bid by Eastman Kodak Co shareholders to set up a committee to represent their interests, and the company won the backing of creditors for its reorganization plan as it prepares to seek court approval next Tuesday to emerge from Chapter 11..
Aug 7- Trucking company YRC Worldwide Inc said it was looking at recapitalization options and reported a larger-than-expected quarterly loss due to delays in a cost-cutting program at its freight business.
Aug 7- Trucking company YRC Worldwide Inc said it was looking at recapitalization options, as it reported a larger-than-expected quarterly loss. YRC Worldwide shares were set to open nearly 16 percent down on the Nasdaq on Wednesday, after the company reported its ninth loss in the past 10 quarters. YRC Worldwide shares closed at $28.58 on Tuesday.
DETROIT, Aug 5- Detroit will begin to assess the value of its assets, including parking meters, real estate, and a portion of the Detroit Institute of Arts collection, in what the city called a "necessary part" of its restructuring efforts.
Aug 5- Unsecured creditors of drybulk shipper Excel Maritime Carriers Ltd have asked a bankruptcy court to terminate the exclusivity period for the company's reorganization plan, saying the package benefited only secured lenders and controlling shareholders.
Rhodes also put off setting a date for a hearing on Detroit's eligibility to file for bankruptcy, while Detroit lawyers disclosed an ambitious aim to present a plan for reorganization by the end of 2013..
Aug 2- The U.S. Department of Justice is taking its third shot at nixing a proposed $19.9 million severance package for American Airlines Chief Executive Tom Horton, who will step down after American's bankrupt parent, AMR Corp, merges with US Airways. In court papers filed on Friday in U.S. Bankruptcy Court in Manhattan, the U.S.
DETROIT, Aug 2- Detroit aims to file a restructuring plan by the end of 2013, earlier than a date previously proposed by a federal bankruptcy judge, but the judge's appointment of a creditors' committee made up of retired workers- over objections from city unions and pension funds at a Friday hearing- was an early sign of controversy in the historic case.
The hearing in U.S. Bankruptcy Court is a key step toward Detroit Emergency Manager Kevyn Orr's effort to see the city emerge from the largest U.S. municipal bankruptcy filing in history by September 2014. But Detroit must first prove it qualifies to file for bankruptcy and then file a reorganization plan.
DETROIT, July 24- A U.S. bankruptcy court judge on Wednesday dealt a blow to Detroit's public employee unions and pension funds opposed to the city's historic bankruptcy filing by suspending legal challenges in Michigan state courts while he reviews the city's petition for protection from creditors.
July 24- The bankruptcy judge overseeing Detroit's historic bankruptcy filing has proposed appointing a federal judge as mediator to hash out the most difficult disputes as the city struggles to resolve more than $18 billion in bond and pension obligations.
James Halstead, managing partner at Aviation Strategy, discusses airlines ahead of quarterly results and highlights the restructuring currently underway.
July 24- With fights over whether Detroit can pursue its bankruptcy filing playing out in both federal bankruptcy court and Michigan state court, many are wondering how the matter will be resolved. Under federal rules, a bankrupt municipality like Detroit benefits from an automatic stay of litigation taking place in other courts.