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.
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.
March 31, 1995
A county committee has recommended that the jobs of treasurer-tax collector, clerk-recorder, auditor-controller and public administrator be appointed by the Board of Supervisors rather than elected by the voters. Filling the positions by appointment will result in the selection of "the best people for the job, not the people who run the best campaigns," said Bruce Sumner, a retired judge and chairman of the Orange County Charter Committee.
October 18, 2011
Two years after Frank and Jamie McCourt began their long, ugly, record-breakingly expensive battle over their divorce and their holdings, they have finally reached a truce on the most contested issue: whether the Dodgers are community property. You can have them, Jamie says. Neither has talked about the details, but The Times has reported that Jamie agreed to relinquish her claim to the team for a settlement of $130 million. While that may put a stop to the McCourts' personal fight, it doesn't end the painful saga that Dodgers fans have had to endure, watching their team languish on the field and be put into bankruptcy.