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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.
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ENTERTAINMENT
March 8, 2013 | By Richard Verrier
JS Communications Co., a South Korean entertainment and media company, has signed a letter of intent to acquire the assets of El Segundo-based Rhythm & Hues, the visual effects house that recently filed for bankruptcy protection from creditors. JS Communications, a diversified entertainment and media company, on Thursday agreed to enter into negotiations to buy Rhythm & Hues, according to a document filed in U.S. Bankruptcy Court in Los Angeles. Rhythm & Hues retained investment banking firm Houlihan Lokey Capital Inc. to solicit bids for Rhythm & Hues, which recently won an Oscar for its work on the Ang Lee movie "Life of Pi," and is one of Hollywood's premiere visual effects companies.
BUSINESS
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.
BUSINESS
June 1, 2006 | From the Associated Press
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.
BUSINESS
January 9, 1987 | JONATHAN PETERSON, Times Staff Writer
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.
SPORTS
July 12, 2011 | By Bill Shaikin
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.
NEWS
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.
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