Bankruptcy Claims NEWS

Market News

August 2010

Sep 2 2010

Bankruptcy on horizon for Pennsylvania capitalwww.washingtonpost.com

  • The city of Harrisburg has said that in will not make an upcoming $3.3 million municipal bond payment due in two weeks
  • City officials are split on the prospect of filing for bankruptcy, with the mayor and the city controller taking opposing views
  • The city’s bond insurance company is expected to cover the missed payment

Sep 2 2010

Tronox amends reorganization planaf.reuters.com

  • Tronox Inc has filed an amended reorganization plan after coming to terms with key creditors and could emerge from bankruptcy in the coming months
  • The company now plans to fund an environmental liabilities trust with $270 million plus 88 percent of any recoveries from litigation against Anadarko Petroleum Corp
  • Existing shareholders will receive warrants to buy up to 5 percent of the reorganized company’s stock if the vote in favor of the plan  

Sep 1 2010

JAL to Submit Rehabilitation Plan Including 16,000 Job Cutswww.reuters.com

  • JAL Submitted bankruptcy emergence plan
  • The plan calls for its workforce to be cut by 1/3
  • Approximately 100 planes will be sold and 50 routes will be cut
 

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