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Tag Archives: Bankruptcy

EDC hired firm to respond to SEC on 38 Studios

PROVIDENCE, R.I. — Rhode Island’s economic development agency hired legal counsel to respond to an inquiry from the federal Securities and Exchange Commission about its $75 million loan guarantee to former Red Sox pitcher Curt Schilling’s failed video game company. ...

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Judge: Airline-merger trial to start in November

WASHINGTON — A federal judge said Friday that the government’s lawsuit to block the proposed merger of American Airlines and US Airways will start Nov. 25, a timetable favored by the airlines. The U.S. Justice Department had wanted the trial ...

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Judge likely to approve bankruptcy exit of American Airlines’ parent co.

NEW YORK — A federal judge signaled Thursday that he is leaning toward approving American Airlines’ emergence from bankruptcy protection but wanted more time to reflect. “I’m finding the arguments in favor of confirmation fairly persuasive,” Judge Sean H. Lane ...

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Creditors reach deadline to object to Detroit bankruptcy

DETROIT — The deadline day has arrived for creditors to oppose Detroit’s request for bankruptcy protection. Federal Judge Steven Rhodes has set Monday as the eligibility objection deadline in the bankruptcy petition by Detroit’s state-appointed emergency manager Kevyn Orr. Creditors ...

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European watchdog approves US Airways, AMR merger

AMSTERDAM — European authorities have cleared US Airways Group Inc.’s proposed merger with American Airlines’ parent company, AMR Corp. — on the condition that they give up one slot at London’s Heathrow airport and take steps to foster competition on ...

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American Airlines parent AMR says creditors approve reorganization plan

FORT WORTH, Texas — Creditors overwhelmingly approved the bankruptcy reorganization plan for American Airlines parent AMR Corp., which includes a merger with US Airways that would create the world’s biggest airline. AMR said Thursday that preliminary results show that at ...

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Report: Detroit’s bankruptcy could set tone

DETROIT — Moody’s Investors Service says Detroit’s road through bankruptcy could set the tone or precedent for other financially distressed communities. The report released Friday says it doesn’t anticipate numerous defaults and bankruptcies, but more could come if Detroit successfully ...

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