March 19, 2013 |
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.
October 21, 2000
Troubled Premier Laser Systems Inc. said Friday that it has tentatively agreed to sell assets of its EyeSys Corneal Topography division to ProLaser Ltd. in Duesseldorf, Germany. ProLaser will acquire the intellectual property, customer base and inventory of the EyeSys division. ProLaser expects to close the deal Dec. 8.
June 1, 2006 |
A $280-million-a-year concession agreement between Delta Air Lines Inc. and its pilots was approved Wednesday by a U.S. Bankruptcy Court judge. The decision rejected claims by the government's pension insurer that it should receive the compensation the pilots were promised if their pension is terminated. The decision came hours after pilots approved the deal. The agreement, which runs through 2009, will take effect today.
January 9, 1987 |
The controversial saga of Financial Dynamics founder Richard E. Donovan continued Thursday, as a bankruptcy trustee prepared to take control of millions of dollars in assets once held by the investment entrepreneur who ran afoul of state officials. The move follows a decision by U.S. Bankruptcy Court Judge Barry Russell to turn down the request of Nancy R. Schauer, an attorney who previously had been sorting out Donovan's dealings, to terminate the bankruptcy proceeding.
July 12, 2011 |
Reporting from Phoenix — The Dodgers might not emerge from Bankruptcy Court for months, but Commissioner Bud Selig alluded Tuesday to the future of the team without Frank McCourt as its owner. Selig avoided speaking directly about McCourt, but the commissioner recalled hearing last year how bad the Texas Rangers' bankruptcy would be for baseball. The Rangers were sold in a Bankruptcy Court auction. "It didn't turn out terrible," Selig said. "They wound up getting a great price and a wonderful ownership group.
April 19, 2012 |
Detroit native Mitt Romney has long contended that the U.S. automobile industry would be better off had the federal government not bailed out General Motors and Chrysler. In particular, he argued in 2008 and again in February (while campaigning in Michigan's Republican primary) that the companies should have restructured themselves without the feds' involvement through a "managed bankruptcy" process. But that ignores a crucial fact: Companies that are broke require money to keep operating, even while under the protection of a Bankruptcy Court.
February 8, 2014 |
WASHINGTON -- In a new milestone for gay rights, Atty. Gen. Eric H. Holder Jr. will issue a directive Monday expanding government recognition of same-sex marriages to all federal courtrooms and prisons, and some federal benefits programs. The new policy, which Holder plans to announce Saturday night at a gay rights dinner in New York City, means the Justice Department will not object if gay or lesbian partners refuse to testify against their spouses in federal criminal and civil cases, and will push for them to be accorded the same rights in Bankruptcy court as other married couples.