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Local and state governments, as well as the federal government, are not the only ones closely watching Detroit’s municipal bankruptcy proceedings. It appears that Detroit, which recently filed the largest municipal bankruptcy in U.S. history, has also garnered the attention of global investors who are making determinations about future investments into the struggling city. China, […]

American Airlines parent AMR Corporation is gearing up to make its formal exit from bankruptcy proceedings, and to enter into a multibillion-dollar merger agreement with US Airways, after receiving approval of its restructuring plan from creditors. AMR announced that preliminary results reveal at least 88 percent of ballots in each creditor class were cast in favor […]

Iconic photography pioneer Eastman Kodak said it will seek court approval for a $406 million rights offering upon exit from bankruptcy proceedings that will give creditors a large equity stake in the company. Many of its key creditors have already agreed to the backstop, which would enable Kodak to issue 34 million common shares at $11.94 each. […]

Cengage Learning, the elite academic content and software corporation, is strongly considering seeking bankruptcy proceedings following the release of disappointing third quarter financial results. In a conference call with reporters, Cengage CEO Michael Hansen explained that the company was forced to borrow the whole of its remaining available credit limit – approximately $430 million – in […]

 Cable and newspaper network, Tribune Co. is prepared to exit Chapter 11 bankruptcy protection and start the new year with a fresh start. The company, which owns news outlets the Los Angeles Times and Chicago Tribune, announced its plans to emerge from bankruptcy before January, bringing an end to four years of bankruptcy proceedings. The […]