Creditor's Rights. Legal news and articles for November 16 - 17, 2012

German central bank chief: Greece will eventually need debt haircut, after ...TV executive Peter Liguori to be new CEO of Tribune Co., sources sayHawker Beechcraft seeks to renege on warrantiesHostess Snacks Flying Off Shelves After Company Shuts DownAmerican Airlines pilots to hold 2nd ratification vote on potential new labor ...Hostess forces store closureTwinkies maker Hostess to go out of business, lay off 18500Peter Liguori expected to become Tribune CEOArgentina to argue debt repayments immune to US lawA Tribute to TwinkieWho's to Blame for the Hostess Bankruptcy?Why an order affirming Roy Roberts' power may be about more than Detroit ...Argent Mortgage Company vs NeiSources: New owners plan Peter Liguori as Tribune Co. CEOBattery maker A123 got US funds as it sought bankruptcy

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Kingfisher Woes Show Need for Bankruptcy Law: Corporate India
BloombergNovember 1, 2012

Kingfisher Airlines Ltd. (KAIR), controlled by liquor tycoon Vijay Mallya, is struggling to resume services after five straight years of losses and mounting debt forced it to ground planes. India's bankruptcy laws aren't helping. The carrier can't ...more »

Texas company makes bid to buy Vann's retail locations
Ravalli RepublicNovember 1, 2012

A Texas-based company looking to buy five bankrupt Vann's stores in Montana is a “family business” with roots in the electronics industry, looking to expand out of the southwestern U.S. into new markets. McMagic Partners LP has made a $4.5 million ...more »

Creditor's Rights. News and Stories

German central bank chief: Greece will eventually need debt haircut, after ...
Washington PostNovember 17, 2012

BERLIN — Greece's creditors will eventually have to write down the value of the country's debt further, but only after Athens has done the hard work of getting its budget into shape and reforming its economy, Germany's top central banker said Friday ...more »

TV executive Peter Liguori to be new CEO of Tribune Co., sources say
Chicago TribuneNovember 17, 2012

When Tribune Co. emerges from bankruptcy, the new owners plan to name television executive Peter Liguori as the company's chief executive, according to sources familiar with the situation. Liguori is a former top TV executive at Fox and Discovery.more »

Hawker Beechcraft seeks to renege on warranties
Hutchinson NewsNovember 17, 2012

WICHITA -- Hawker Beechcraft has asked a bankruptcy court to allow it to renege on warranties and other support obligations for its discontinued Hawker 4000 and Premier I and IA business jets, saying that support for those aircraft could cost it tens ...more »

Hostess Snacks Flying Off Shelves After Company Shuts Down
CBS2 ChicagoNovember 17, 2012

Hostess had warned employees that it would file a motion in U.S. Bankruptcy Court to unwind its business and sell assets if plant operations didn't return to normal levels by Thursday evening. Hostess bakeries in Illinois are located in Schiller Park ...more »

American Airlines pilots to hold 2nd ratification vote on potential new labor ...
Washington PostNovember 17, 2012

DALLAS — Pilots at American Airlines will vote again on whether to approve a contract offer from the company, which has been operating under bankruptcy protection for nearly a year. The Allied Pilots Association board on Friday accepted a tentative ...more »

Hostess forces store closure
Danville Commercial NewsNovember 17, 2012

According to a Hostess press release, Hostess Brands Inc. on Friday announced that it is winding down operations and has filed a motion with the U.S. Bankruptcy Court seeking permission to close its business and sell its assets, including its iconic ...more »

Twinkies maker Hostess to go out of business, lay off 18500
Los Angeles TimesNovember 17, 2012

... the popular cream-filled spongecake. Hostess has asked a bankruptcy judge for permission to go out of business and lay off 18,500 workers, blaming a strike by members of the Bakery, Confectionary, Tobacco Workers and Grain Millers International Union.more »

Peter Liguori expected to become Tribune CEO
Los Angeles TimesNovember 17, 2012

Peter Liguori, a former top executive at News Corp. and Discovery Communications, is expected to be named chief executive of Tribune Co. after the company emerges from bankruptcy, according to people familiar with the matter. Liguori is in advanced ...more »

Argentina to argue debt repayments immune to US law
CNBC.comNovember 17, 2012

State news agency Telam said the government would argue that the repayments were "immune to U.S. law" because "the payment of creditors is conducted outside that country." "When the money arrives in New York, it already belongs to the creditors, not to ...more »

A Tribute to Twinkie
ForbesNovember 17, 2012

16th: Hostess Brands Inc. announced that it is winding down operations and has filed a motion with the U.S. Bankruptcy Court seeking permission to close its business and sell its assets, including its iconic brands and facilities. This means the ...more »

Who's to Blame for the Hostess Bankruptcy?
The AtlanticNovember 17, 2012

After failing to win major contract concessions from one of its key labor unions, the beleaguered 82-year-old company has asked a federal bankruptcy court for permission to start liquidating its assets -- or, in real person speak, begin the process of ...more »

Why an order affirming Roy Roberts' power may be about more than Detroit ...
Crain's Detroit Business (blog)November 17, 2012

Barring further action by the state Legislature, Act 72 may offer Michigan's only legal mechanism for which Detroit or any other cash-strapped community could seek protection in municipal bankruptcy. The Maurice and Jane Sugar Law Center for Economic ...more »

Argent Mortgage Company vs Nei
Farmington IndependentNovember 16, 2012

THE RIGHT TO VERIFICATION OF THE DEBT AND IDENTITY OF THE ORIGINAL CREDITOR WITHIN THE TIME PROVIDED BY LAW IS NOT AFFECTED BY THIS ACTION. NOTICE IS HEREBY GIVEN, that default has occurred in the conditions of the ...more »

Sources: New owners plan Peter Liguori as Tribune Co. CEO
Chicago TribuneNovember 16, 2012

When Tribune Co. emerges from bankruptcy, the new owners plan to name television executive Peter Liguori as the company's chief executive, according to sources familiar with the situation. Liguori is a former top TV executive at Fox and Discovery.more »

Battery maker A123 got US funds as it sought bankruptcy
Fox BusinessNovember 16, 2012

WASHINGTON – The Obama administration provided struggling battery maker A123 Systems Inc with nearly $1 million on the day it filed for bankruptcy, the company told lawmakers investigating its government grant. The company, which makes lithium ion ...more »

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