United Airlines’ parent company is preparing to emerge from Chapter 11 this week, but that doesn’t mean the bonanza is over for bankruptcy lawyers. The aviation bust has proven to be a goldmine for law firms like Kirkland & Ellis, Davis Polk and Stroock & Stroock, according to our study of legal fees in airline bankruptcy proceedings.
Beleaguered brokerage firm Refco Inc. has enlisted the help of Christie’s auction house in its struggle to emerge from bankruptcy and repay $16.8 billion in debts.
The U.S. Bankruptcy Court in New York has approved Calpine’s motions to retain Kirkland & Ellis as counsel, PA Consulting Group as energy industry consultant and Curtis, Mallet-Prevost, Colt & Mosle as conflicts counsel.
The archbishop of the bankrupt Archdiocese of Portland in Oregon rebutted the idea Thursday that he had "foolishly" fallen victim to poor advice from bankruptcy attorneys when declaring the organization insolvent in July 2004.
In a blow to Mesaba Aviation’s rank and file workers, a federal bankruptcy judge has ruled that the struggling regional carrier can proceed with a plan that would offer executives millions of dollars in proposed incentives and severance benefits.
As the deadline for compromise draws near, Delta Airlines and the pilots union are still at each other’s throats over the carrier’s bankruptcy reemergence plan, making arbitration seem like an increasingly likely option.
A media tycoon’s allegations that Deutsche Bank AG’s chairman helped bankrupt his company through remarks in a news interview will be heard in court, after a federal judge in Germany allowed the case to move forward.
A federal judge has given his final approval to bankrupt Calpine Corp.’s $2 billion refinancing plan, led by Deutsche Bank and Credit Suisse, to help the fallen energy giant keep its head above water as its bankruptcy case proceeds.
Bankrupt cable television provider Adelphia Communications Corp. has turned up the heat on its former law firm after deciding Tuesday to launch an investigation into its attorneys' alleged conflict of interest.
Northwest Airlines’ management and pilots have bought more time this week to negotiate cost-saving deals that will determine whether the carrier will fold.
With shaky finances and labor problems growing more severe by the day, Italian airline Alitalia is scrambling to come up with a restructuring plan that will appease both union workers and creditors and allow the airline to escape bankruptcy.
Scandal-ridden auto parts giant Delphi Corp. has admitted that it is facing at least $19 billion in liabilities, a plethora of unresolved environmental pollution charges, and unspecified income tax debts owed to states and cities nationwide.
Although a judge denied her demand for control of the bankruptcy proceedings for futures broker Refco, U.S. Trustee Deirdre Martini has refused to concede, asking the judge to reconsider her proposal that she take command of the case.
Hoping to emerge from bankruptcy by 2007, embattled Delta Air Lines Inc. announced its intention to cut up to 1,000 maintenance positions while simultaneously seeking to pass an incentive package that will convince some of its critical technology employees to stay.
When United Airlines holding company UAL Corp. comes out of bankruptcy next week, its stock will trade on the Nasdaq Stock Market, according to the latest in a string of announcements related to the carrier’s much-anticipated financial recovery.
In a decision reached by a single-vote margin, the Supreme Court has ruled that states can be sued in certain bankruptcy cases.
33-year-old ATA Airlines is readying to step into second adulthood this spring, when the bankrupt airline expects to emerge from Chapter 11 protection, add four new routes, and increase flights to Hawaii, its signature leisure destination.
Although Adelphia is working toward emerging from Chapter 11 bankruptcy protection, obstacles continue to slow the struggling cable company’s progress.
A surge in consumer bankruptcy filings has unexpectedly forced Bank of America Corp., the second-largest U.S. bank, to report its first profit decline in more than four years, losses felt by many consumer lenders in the wake of the new bankruptcy law.
Delphi Corp. shareholders refuse to take no for an answer. Investors in the embattled auto parts maker have appealed last week’s ruling, which allowed a Deloitte & Touche audit of the company’s 2005 books, alleging that the firm signed off on accounting improprieties.