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BUSINESS
August 28, 1992 | NANCY RIVERA BROOKS, TIMES STAFF WRITER
Air Canada teamed with two Texas investors Thursday to announce a $400-million bid to buy a controlling interest in Houston-based Continental Airlines, the third offer for the financially troubled carrier. Continental, which is operating under Chapter 11 bankruptcy protection, already has attracted a $350-million offer from Houston money man Charles E. Hurwitz and his company, Maxxam, as well as a $385-million proposal from a group led by Mexican investor Alfredo Brener.
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BUSINESS
August 28, 1992 | NANCY RIVERA BROOKS, TIMES STAFF WRITER
Air Canada teamed with two Texas investors Thursday to announce a $400-million bid to buy a controlling interest in Houston-based Continental Airlines, the third offer for the financially troubled carrier. Continental, which is operating under Chapter 11 bankruptcy protection, already has attracted a $350-million offer from Houston money man Charles E. Hurwitz and his company, Maxxam, as well as a $385-million proposal from a group led by Mexican investor Alfredo Brener.
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BUSINESS
January 9, 1993 | From Times Staff and Wire Reports
Court Approves Continental's Disclosure Statement: U.S. Bankruptcy Judge Helen Balick in Wilmington, Del., approved a disclosure statement for Continental Airlines, freeing the company's reorganization plan for a vote by creditors. Balick also set a Feb. 23 confirmation hearing for the Houston-based company's reorganization. Continental filed for Chapter 11 bankruptcy in December, 1990. Air Canada and Ft.
BUSINESS
November 18, 1992 | From Associated Press
Unsecured creditors of Continental Airlines could get as little as 4.8 cents or as much as 36.1 cents on the dollar for their claims, according to details of the airline's bankruptcy reorganization plan released Tuesday. The plan, based on a $450-million cash infusion from Air Canada and other investors, would give most secured debt holders nearly everything they are owed. It comes one week after Continental announced that it had selected the $450-million buyout offer from Air Canada.
BUSINESS
April 24, 1993 | JOHN O'DELL, TIMES STAFF WRITER
In the first prosecution under a 1988 state law that effectively outlawed the once-booming--and often-abused--business of auto subleasing, Thomas Charles Carter of Lake Forest was sentenced Friday to three years in prison. In an Orange County Superior Court trial late last year, a former employee testified that Carter defrauded clients of more than $1 million during the two years he operated his subleasing business, U.S. Financial. Carter closed the Santa Ana firm after his arrest in 1990.
BUSINESS
November 3, 1992 | From Times Wire Services
At least two investor groups met a Monday deadline to make formal bids for Continental Airlines, giving the carrier a choice between reorienting itself toward Canada or Mexico. At the same time, Lufthansa German Airlines, which had shown an interest in making a formal bid with Los Angeles businessman Marvin Davis, dropped out on Monday.
BUSINESS
November 10, 1992 | JESUS SANCHEZ, TIMES STAFF WRITER
In a deal that would unite two struggling carriers, Continental Airlines on Monday accepted a $450-million offer from Air Canada and other investors that is expected to allow the U.S. carrier to emerge from a long stay in bankruptcy court. The partnership between the U.S. and Canadian carriers, which is subject to court and government approval, continues a trend toward international airline alliances. Both airlines left the door open to future partnerships with carriers of other countries.
CALIFORNIA | LOCAL
December 20, 2008 | My-Thuan Tran
The former city official who headed a troubled $650-million rail project for Placentia pleaded no contest Friday to felony conflict-of-interest charges in a deal that could allow him to avoid a jail sentence. Prosecutors alleged that as the city's public works director, Christopher Becker violated conflict-of-interest laws in the creation of the OnTrac rail project in April 2000 and used his influence to be hired by the city to manage the project as a private consultant.
BUSINESS
November 22, 1995 | MARTHA GROVES and DAN BERGER, SPECIAL TO THE TIMES
In the most valuable deal in the history of the U.S. wine industry, Nestle is set to announce today that it is selling its extensive and prestigious California wine holdings, including Beringer Vineyards and Chateau Souverain, to private investors, industry sources said Tuesday. Texas Pacific Group, an investment partnership with $720 million in capital and offices in San Francisco and Ft. Worth, is paying an estimated $350 million for Nestle's Wine World Inc.
BUSINESS
May 29, 1994 | SUSAN HIGHTOWER, ASSOCIATED PRESS
It's called the silk-scarf syndrome. Howard Hughes, Carl Icahn, Donald Trump, Alfred Checchi, Frank Lorenzo--the airline industry has a history of luring tycoons to the romance of the skies only to have them run into high-flying trouble. "It's the idea that it's a company like other companies: You throw the silk scarf around your neck, sell tickets and off you go. It's a lot more complicated than that," said Philip Roberts, a Hayward, Calif., aviation consultant. Fort Worth investor David Bonderman and his partners led the bankruptcy bailout of Continental Airlines and are angling to do the same with America West.
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