AMR Corporation, the parent of American Airlines, has sought court permission to reduce retiree health benefits and impose out-of-pocket costs for access to certain other health coverage. The Airline announced that it would discontinue retiree life insurance and would end medical coverage for those over the age of 65. The over-65 group would, instead, have […]
Read MoreStockton, California has filed for Chapter 9 protection, making it the largest American city ever to declare bankruptcy. The filing comes after officials were unable to reach a deal with the city’s creditors to restructure hundreds of millions of dollars of debt under a new state law designed to help municipalities avoid bankruptcy. A detailed […]
Read MoreAppearing at Brazos Emergency Physicians Assn. v. Woods (In re Brazos Emergency Physicians Assn.). Via Volo 5th Circuit: Brazos Emergency Physicians Assn. v. Woods (In re Brazos Emergency Physicians Assn.) Citation: Brazos Emergency Physicians Association, P.A., et al. v. Patrick G. Woods, M.D., et al. (In re Brazos Emergency Physicians Association, P.A.), Case No. 11-50927 […]
Read MoreCitation: Halo Wireless, Inc. v. Alenco Communications Inc. (In re Halo Wireless, Inc.), Case No. 12-40122 (5th Cir. June 18, 2012) Facts: Halo Wireless, Inc. was a small telecommunications company that provides wireless phone and data service to its customers pursuant to a license from the Federal Communications Commission (“FCC”). Starting in May 2011, private telephone […]
Read MoreThe Eleventh Circuit recently avoided, as fraudulent transfers, certain liens pledged by subsidiaries to secure a $500 million loan made to their parent, Tousa, Inc. See Senior Transeastern Lenders v. Official Comm. of Unsecured Creditors (In re Tousa, Inc.), No. 11-11071, 2012 WL 1673910 (11th Cir. May 15, 2012). These liens were avoided as upstream transfers that, pursuant […]
Read MoreOn May 29, 2012, the U.S. Supreme Court decided the well-monitored appeal in RadLAX Gateway Hotel, LLC, et al. v. Amalgamated Bank, where a chapter 11 debtor appealed the ruling of Seventh Circuit Court of Appeals that a debtor may not confirm a cramdown plan, proposing to sell encumbered assets free and clear of liens, without permitting the […]
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