By Rida Cork
Creditors of Edison International’s commercial power unit are seeking more than $1 billion from the parent company, which vowed on Thursday to fight their effort. Read the Daily Bankruptcy Review article via The Wall Street Journal.
Residential Capital LLC has reached a deal with borrowers to settle a class-action lawsuit over so-called high-cost mortgage loans. Click here for the DBR article.
A year into the San Bernardino, Calif., bankruptcy case, Judge Meredith Jury agreed to put a Nevada judge on call as a mediator for labor union and bondholder disputes that could arise in the city’s Chapter 9 case. The DBR Small Cap article is available here.
(Daily Bankruptcy Review and DBR Small Cap are daily newsletters with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit our homepage, scroll to the bottom and click “try for free.”)
Based on a preliminary count, creditors of American Airlines parent AMR Corp.approved the company’s bankruptcy plan, WSJ reports.
Genesee County, Mich., postponed its planned $53 million bond sale, WSJ reports.
Federal bankruptcy monitors say Orchard Supply Hardware Corp.'s top leaders are in line for bonuses that are “quite large, and excessive” for executives of a troubled chain being auctioned off in bankruptcy. Read the DBR article via Nasdaq.
DealBook discusses how a court ruling involving firm Sun Capital Partners Inc. will make it more difficult for private-equity groups to ignore unfunded pension liabilities of companies they’ve bought if the company files for bankruptcy.
Airplane maker Beechcraft Corp. has landed a $1.4 billion order, the Associated Press reports.
People are balking at Brooklyn, N.Y.-based Interfaith hospital’s imminent closure, the Associated Press reports.
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