American Airlines has reached an agreement with creditors to explore whether a merger with US Airways would create more value than its plan to exit bankruptcy as a stand-alone carrier.
In re Osborne (Bankr. D. Kan.)
MEMORANDUM OPINION - Revocation of discharge was denied where Trustee failed to show debtor’s intent or willful disobediance in failing to appear at hearings, list property interests, identify assets and creditors and engaging in substantial business activities not disclosed in his schedules or to the Trustee.
In re Qimonda AG (E.D. Va.)
OPINION – This case is appropriate for direct appeal to the Court of Appeals from the Bankruptcy Court, because it addresses a direct conflict between U.S. bankruptcy law and U.S. public policy favoring comity with courts of other nations. German law would allow debtor to terminate licensing agreements, but 11 U.S.C. 365(n) allows licensors to maintain licenses.
In re D & W Ltd., LLC (Bankr. E.D. Mich.)
OPINION - President of the LLC debtor was not a shareholder and had no authority to file Chapter 7 petition for bankruptcy; secured creditors were entitled to have petition dismissed.
Major General William Lynch, who led Pennsylvania's military affairs department, takes over as arbiter for the state's debt-laden capital.
William Bell was New York on to push the message that despite the county's woes, Birmingham is in good fiscal shape.
Ally and ResCap creditors are in general agreement on a plan that could put the mortgage subsidary into bankruptcy in a deal that could speed up and ease the process.
Potential investors in the privately-held company were not disclosed. The maker of Twinkies is working its way out of its second bankruptcy in less than a decade.
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