American Airlines parent AMR wants more time to present turnaround plan in bankruptcy court

The exclusive period has already been extended once and was due to expire Sept. 28, but American will ask for a new deadline of Dec. 27. A federal judge is expected to rule on the request next week. New long-term labor contracts are a key piece of AMR’s plan to reduce costs and emerge from bankruptcy protection as a profitable, independent company.

Stockton California Files for Bankruptcy Court Protection

Stockton said its biggest unsecured creditor is the California Public Employees’ Retirement System, or Calpers, , the largest U.S. pension fund, owed $147.5 million, followed by Wells Fargo Bank NA, as trustee for $124.3 million in pension obligation bonds, and Wells Fargo as trustee for three other sets of bondholders owed $107 million, according to court papers.

McMenamy’s in Niles files for bankruptcy

Creditors who are parties to the settlement agreement hold over $2.7 billion of claims against Dynegy's subsidiary, Dynegy Holdings, LLC or DH. Dynegy stated that the amended and restated settlement agreement resolves all disputes, claims and causes of action between and among DH, Dynegy and the settling parties, with respect to the matters therein. Dynegy said it expects to file an amended plan of reorganization and related disclosure statement for DH in the near future, which will be subject to a formal creditor vote and confirmation by the U.S. Bankruptcy Court.

 

To get copy of bankruptcy discharge papers

Panetta visits former U.S. base in Vietnam

The Vietnam generation is my generation," Panetta said, noting there was "a tremendous amount of blood spilled on both sides" during the war. Panetta, who headed to Hanoi after the base stop, is on a tour of Asia that includes Singapore and India. His trip aims to boost military ties in the region. By 2020, the Navy will reposture its forces from today's roughly 50-50 split from the Pacific and Atlantic to a 60-40 split in those oceans," Panetta said.

Washington area bankruptcy filing for the week of June 4

Under Chapter 11 of the federal bankruptcy code, a company is protected from claims by creditors while it attempts to reorganize its finances under a plan approved by the court. In a Chapter 7 liquidation, a court trustee sells assets to pay creditors’ claims. The company then ceases operations.

 

To get copy of bankruptcy records

Ford Puts the Pedal to Its EcoBoost Engine-Tech Brand

Ford’s four-cylinder EcoBoosts deliver basically the performance of a six-cylinder with much better fuel economy, and its six-cylinder EcoBoost generates the punch of an eight-cylinder with much better mileage. EcoBoost improves fuel economy in that way by as much as 20 percent, but the option costs only $1,000 on most vehicles — far less than the premiums of up to several thousand dollars demanded by hybrids and even the $1,500 to $2,000 extra that buyers typically pay for a diesel powertrain compared with a conventional internal-combustion engine. Ford now plans to triple production of EcoBoost engines this year.