It appears that businesses are not filing bankruptcy at a pace that was predicted earlier this year, after Kodak and Hostess filed their bankruptcy cases, and following AMR‘s fourth quarter filing in 2011. See Where Are the Tidal Waves of Chapter 11 Bankruptcies and Where Are the Bankruptcy Filings (Part II). Indeed, in May 2012, the American […]
Read MoreThe Third Circuit Court of Appeals recently held that a party seeking to sue a trustee in bankruptcy must still obtain permission from the appointing bankruptcy court, but only in instances when the trustee is being sued for acts in his official capacity and not in instances when the trustee is merely continuing the business affairs of the debtor’s […]
Read MoreOn July 12, 2012, US Airways announced to the Associated Press that it is now a creditor of AMR. US Airways spokesman, John McDonald, said his airline paid $600,000 for AMR bonds with a face value of $1 million. While purchasing a claim does qualify US Airways as a party in interest, with a right to be […]
Read MoreOn July 12, 2012, Valence Technology, Inc., a developer and manufacturer of advanced energy storage solutions that is headquartered in Austin, filed for chapter 11 bankruptcy in the Western District of Texas. It has been assigned Case No. 12-11580. Valence is a global leader in the development of patented lithium iron magnesium phosphate advanced energy storage systems, and […]
Read MoreJuly 12 – Dallas. KRLD Radio was interested in American Airline‘s recent announcement that it would start considering merger options with several other airlines; not just US Airways. A portion of the interview is attached to this link: KRLD Interview. Related articles Now American Airlines says it will consider merger (bizjournals.com) Bankrupt American Airlines May […]
Read MoreRitz Camera & Image, the Washington, D.C. based photography retail chain, filed for chapter 11 bankruptcy protection last month for the second time in just 3 years. Founded in 1936, Ritz built a profitable business by selling cameras and then processing film for its consumers. As discussed an earlier submission to this blog, Kodak similarly filed the […]
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