Headlines

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Format: 07-26-2014
July 25, 2014
American Airlines Group Inc. will pay its first dividend since 1980 and repurchase $1 billion in stock, matching a buyback by United Airlines’ parent as the once-struggling industry returns more cash to investors, Bloomberg reported yesterday. The 10-cents-a-share quarterly payout came as the 2013...
July 25, 2014
Energy Future Holdings asked a judge to extend the period in which it controls its chapter 11 case and said that it is scrapping its original debt-cutting plan in favor of an auction of its Oncor unit, Reuters reported yesterday. The company asked Hon. Christopher S. Sontchi to extend its exclusive...
July 25, 2014
The Adelphia Recovery Trust (ART) has filed a motion in bankruptcy court seeking approval to extend the term of the ART through Dec. 31, 2016, PRNewswire reported yesterday. Adelphia's reorganization plan established an initial termination date of Feb. 14, 2012, and was eventually extended to Dec....
July 25, 2014
The family of a man shot to death while finishing his shift at a Little Rock, Ark., Sbarro store received a small measure of relief from the pizza chain’s bankruptcy judge on Monday, The Wall Street Journal reported yesterday. Hon. Martin Glenn lifted a provision of Sbarro's bankruptcy-exit plan so...
July 25, 2014
Argentine representatives have made it clear that the South American country plans to default next week, a spokesperson for Elliott Management subsidiary NML Capital said late Thursday, Reuters reported yesterday. "We will continue to seek ways to engage Argentina in negotiations, but there is...
July 25, 2014
A federal judge has slapped Girls Gone Wild founder Joe Francis with a daily fine of $5,000 until he returns two luxury cars that belong to the business, whose brand of videos was recently sold out of bankruptcy, The Washington Post reported yesterday. The fines, which start today, came after Hon....
July 25, 2014
A planned auction of bitcoins.com, a domain name owned by the chief executive of Mt. Gox, has been postponed after a U.S. court order temporarily blocked the company that operated the exchange from selling assets, The Wall Street Journal reported yesterday. A district court in Washington state...
July 25, 2014
An official responsible for the assets of Mt. Gox told creditors he would consider returning the bitcoin that remains with the defunct exchange without converting it into regular currencies, The Wall Street Journal reported yesterday. Some of those who had deposits with what was once the world's...
July 25, 2014
Nortel Networks Corp.’s defunct U.S. unit agreed to pay bondholders as much as $1 billion to cover interest that investors claim has accrued since the former telecommunications giant filed for bankruptcy in 2009, Bloomberg reported today. The company said in a court filing yesterday that it settled...
July 25, 2014
Lake Shore Health Care Center in Irving, N.Y., received another month to market itself to prospective buyers following a hearing on Wednesday, The Buffalo (N.Y.) News reported yesterday. The hospital has been on life support since October, when its parent company announced intentions to close it at...
July 25, 2014
A North Carolina federal judge has struck down a bankruptcy court ruling that sealed evidence and testimony about gasket-maker Garlock Sealing Technologies' liability for asbestos injuries, Reuters reported yesterday. The "public and press have a co-extensive right to view and consider documents...
July 25, 2014
A federal grand jury indicted TelexFree LLC co-founders and owners James Merrill and Carlos Wanzeler Wednesday on fraud charges tied to allegations that their company operated a massive pyramid scheme, The Wall Street Journal reported yesterday. The indictment expands upon the original criminal...