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BUSINESS
December 25, 2001 | Reuters
Instant film and camera maker Polaroid Corp., which filed for bankruptcy protection in October, said it is seeking court approval for $3.3 million in severance payments for up to 500 workers whose jobs will be eliminated over the next few months, recent Bankruptcy Court filings show. Cambridge, Mass.-based Polaroid, whose cameras deliver pictures in just seconds, expects to eliminate those jobs by March 31, according to Bankruptcy Court papers filed Friday.
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BUSINESS
April 12, 2000 | Bloomberg News
Hedstrom Corp., a unit of leveraged buyout firm Hicks, Muse, Tate & Furst Inc., filed for Bankruptcy Court protection after slumping sales and mounting debts left the maker of children's outdoor toys struggling to survive. Hedstrom, best-known as a maker of swing sets and slides, listed $399 million in assets and $337 million in debts in its Chapter 11 petition filed in U.S. Bankruptcy Court in Wilmington, Del.
SPORTS
September 23, 2011 | By Bill Shaikin
Major League Baseball on Friday asked a federal bankruptcy judge to order the sale of the Dodgers, arguing in court papers that Frank McCourt's plan to retain ownership of the team is "dead on arrival. " MLB does not intend to approve any sale of television rights that would help McCourt maintain ownership of the Dodgers, according to the filing, and the league could enforce its ability to strip McCourt of the team once it emerged from bankruptcy protection. "Mr. McCourt cannot hide the Dodgers in bankruptcy forever," the filing read.
BUSINESS
March 19, 2013 | By Hugo Martin
American Airlines is defending a plan to pay its departing chief executive a severance payout of nearly $20 million after the airline completes a merger with US Airways. The parent company of American Airlines, AMR Corp., which filed for bankruptcy in 2011, recently submitted a request to a bankruptcy court to make the payment to its chief executive, Thomas Horton. After the merger is completed, Horton will be replaced by US Airways Chief Executive Doug Parker and will take the post of board chairman for the new airline.
BUSINESS
February 27, 1986 | BILL RITTER, San Diego County Business Editor
A San Diego man whose real estate investment and management company went bankrupt more than four years ago was indicted by a federal grand jury Tuesday on 18 counts of mail and bankruptcy fraud, as well as filing false declarations in bankruptcy court. Lewis W. Shurtleff, 65, was charged with transferring title to two apartment complexes from his company, Frontier Properties, to himself, his wife and his brother in July, 1981, one month before the company filed for bankruptcy.
BUSINESS
September 15, 2004 | From Bloomberg News
US Airways Group Inc.'s unions, defying management's efforts to win labor concessions to keep the company afloat, are unlikely to give up pay and benefits despite a threat of court-imposed cuts, a labor leader and consultants said Tuesday. US Airways sought bankruptcy protection from creditors Sunday after failing to win agreements for $800 million in concessions from the unions, including pilots, who refused to vote on a proposal, and mechanics, who declined to discuss the request.
SPORTS
March 7, 2012 | By Bill Shaikin
U.S. Bankruptcy Judge Kevin Gross on Wednesday urged attorneys for Bryan Stow and the Dodgers to settle their dispute without his intervention. Stow is the San Francisco Giants fan who was beaten and critically injured in the Dodger Stadium parking lot on opening day last year. His attorneys filed a civil suit against the Dodgers in Los Angeles Superior Court and a subsequent claim against the team in Bankruptcy Court. They have said Stow will need lifelong medical care and cited $50 million as a "conservative total estimate" of his damages.
BUSINESS
August 2, 1985
The Houston-based high-fashion speciality store--one of the last still owned by its founding family--reported that it will seek protection from its creditors under the U.S. Bankruptcy Code rather than sell to a competitor. The 83-year-old business filed a petition with the U.S. bankruptcy court seeking time to scale down its operations, reorganize and return to profitability.
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