Bankruptcy & Restructuring >>>
AmericanWest Bancorp, a bank holding company in reorganization just short of two years, secured a commitment from the bankruptcy judge at a confirmation hearing yesterday to sign an order approving the Chapter 11 plan. To read more, click here.
Detroit’s bankruptcy mediator appointed a team of current and former judges to help him settle disputes between the insolvent city and creditors as the parties try to negotiate cuts in about $18 billion of debt. Click here to continue reading.
Energy Future Holdings Corp.’s October and November interest payments on its $43.6 billion of total debt will prompt the former TXU Corp. to restructure, according to Marathon Asset Management LP’s Bruce Richards. To read more, click here.
AMR Corp. urged a judge to approve its plan to exit bankruptcy protection by merging its American Airlines with US Airways Group Inc. two days after the U.S. sued to block the combination as a threat to consumers. To read more, click here.
Residential Capital LLC’s disclosure statement for its reorganization was opposed by the U.S. Trustee, which oversees bankruptcy cases for the government. To read more, click here.
The number of U.S. businesses filing Chapter 11 petitions with $1 million or more in debt fell 17 percent in the first half of 2013 compared to the same period of 2012. California’s central district was the most active venue and many of the largest cases were taken on by Delaware’s court. While Detroit’s July 18 Chapter 9 [...]
California, Florida, Texas and New York were the biggest sources of Chapter 11 petitions from businesses listing liabilities of $1 million or more in the second quarter, the same as in the first quarter. To read more and view graph, click here.
The Bloomberg Corporate Bankruptcy Index ended the second quarter of 2013 at a reading of 72, down 3.8 percent from the first quarter and down 42.5 percent from the second quarter of 2012. To read more and view graph, click here.
To view Detroit by the Numbers, click here.
AMERICAN ROADS FILES CHAPTER 11. The provider of toll road facilities and services listed debt of as much as $1 billion. New York’s southern district is the venue for the case. To read more, click here.