July 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 MoreAMR Corporation, the parent of American Airlines, has sought court permission to reduce retiree health benefits and impose out-of-pocket costs for access to certain other health coverage. The Airline announced that it would discontinue retiree life insurance and would end medical coverage for those over the age of 65. The over-65 group would, instead, have […]
Read MoreOn May 18, 2012, the Bankruptcy Court for the Northern District of Texas confirmed Reddy Ice’s chapter 11 plan, paving the way for the Company to exit bankruptcy. The Company announced that it would be prepared to exit bankruptcy in the next week or so. Reddy Ice filed for chapter 11 bankruptcy on April 12 […]
Read MoreOn April 23, 2012, the United States Supreme Court heard oral argument on the issue of whether secured creditors have the absolute right to credit bid their secured claims in sales of encumbered assets pursuant to a chapter 11 plan. There is currently a split amongst the Circuit Courts of Appeal on this issue. In […]
Read MoreOn April 12, 2012, Reddy Ice filed for chapter 11 bankruptcy in the Northern District of Texas, revealing that it has secured $70 million in debtor-in-posssion financing, which will allow the Company to pay for operating and restructuring costs during its bankruptcy case. Reddy Ice is the largest manufacturer and distributor of packaged ice in the United States. […]
Read MoreOn March 22, 2012, American Airlines, which filed bankruptcy on November 29, 2011, obtained bankruptcy court approval to extend its exclusive right to file a plan of reorganization until September 28, 2012. Under section 1121 of the Bankruptcy Code, a debtor has an exclusive period of time (120 days after the commencement of a case) […]
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