Headlines

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Format: 08-23-2014
January 17, 2013
Residential Capital LLC, the bankrupt mortgage company whose parent is owned by the U.S. government, won court approval to try to sell a pool of defaulted loans with a balance of about $130 million, Bloomberg News reported yesterday. The mortgages are the best of about $1 billion in bad loans that...
January 17, 2013
Pinnacle Airlines Corp. won bankruptcy court approval yesterday for agreements that it said pave the way for the regional carrier to emerge from chapter 11 as a unit of Delta Air Lines, Reuters reported. Bankruptcy Court Judge Robert Gerber signed an order that allows Pinnacle to form a...
January 17, 2013
AMR Corp., the parent company of American Airlines, reported a fourth-quarter profit yesterday following a year-earlier loss and said cost-cutting measures undertaken during restructuring would buoy earnings in future, Reuters reported yesterday. The carrier, which is weighing a merger with US...
January 17, 2013
Government-backed battery maker A123 Systems Inc. has yet to hear whether its proposed sale to China's Wanxiang Group will pass muster before the Committee on Foreign Investment in the United States, but in the absence of a fast "no," the plan is to move ahead with the first stage of the deal this...
January 17, 2013
Bank of America Corp.'s claims against MBIA Inc. over the bond insurer's 2009 restructuring are supported by an insurance regulator’s refusal to let MBIA make an interest payment, a lawyer for the bank said, Bloomberg News reported yesterday. The decision by New York’s Department of Financial...
January 17, 2013
The U.S. Treasury Department chose Citigroup Inc. and JPMorgan Chase & Co. to manage the sale of shares in General Motors Co., as the government works to disentangle itself from the biggest U.S. automaker following the $50 billion bailout that began in 2009, Bloomberg News reported yesterday....
January 17, 2013
Semi-trailer manufacturer Wabash National Corp. was the successful bidder during a chapter 11 auction for three parcels of Beall Corp.'s assets with a $21.35 million bid, but Beall principals' refusal to sign noncompete agreements could threaten the deal, Dow Jones DBR Small Cap reported today....
January 17, 2013
The low valuation creditors of MF Global Holding Ltd. put on their liquidating chapter 11 plan is not deterring the bond market where debt is being sold for roughly twice the predicted recovery for unsecured creditors of the liquidating commodity broker's holding company. Bloomberg Law's Lee...
January 16, 2013
Since the summer of 2011, the insurance giant American International Group has been battling Bank of America over claims that the bank packaged and sold it defective mortgages that dealt AIG billions of dollars in losses, the New York Times reported today. Now AIG wants to be able to sue other...
January 16, 2013
A troubled Pittsburgh health care system is expected to announce as soon as today that it has reached a deal to avoid a $1.6 billion bankruptcy, which would cut its debt and leave its assets in the hands of insurer Highmark Inc., Reuters reported yesterday. Under the tentative agreement, Highmark...
January 16, 2013
The National Mediation Board said that passenger service agents at American Airlines voted against unionizing after an election that concluded yesterday, Reuters reported. Of the 5,954 workers who cast a vote, 3,052 voted for no union, compared with 2,891 who voted in favor of the Communications...
January 16, 2013
Pinnacle Airlines pilots overwhelmingly approved a concessionary contract that the company said was key to its survival, the Memphis (Tenn.)Commercial Appeal reported today. The Air Line Pilots Association said that of the more than 86 percent of eligible pilots casting ballots, 85 percent of...