Restitution hearing set for boy band creator Jul 16, 2008
Pearlman put together the Backstreet Boys and 'N Sync but is now serving a 25-year sentence after pleading guilty in March to two counts of conspiracy and single counts of money laundering and presenting a false claim in bankruptcy court. Prosecutors say Pearlman scammed individuals out of an estimated $200 million, and banks out of another $100 million. (New York Post)
Dana Corporation Agrees to Pay $125 Million Allowed Claim in Bankruptcy to Settle Environmental Liabilities at Six Toxic Waste Sites Jun 18, 2008
NEW YORK, June 17 /PRNewswire-USNewswire/ -- The United States has settled environmental claims of the Environmental Protection Agency (EPA), the Department of Commerce, and the Department of the Interior, brought against chapter 11 debtors Dana Corporation and 40 affiliated companies (Dana), under the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA), Michael J. Garcia, the U.S. Attorney for the Southern District of New York and Ronald J. Tenpas, the Assistant... (PR Newswire)
Obama's Social Security Plan: Some Will Pay More May 20, 2008
He complained about bankruptcy laws "that are more focused on protecting banks than on protecting pensions." As president, he said he would limit the circumstances under which retirement benefits can be cut -- and increase the wages and benefits that workers can claim in bankruptcy court. Finally, Obama said he would encourage personal savings. (CNSnews.com)
Aloha Airlines halts service Mar 31, 2008
Those who paid by cash or check may file a claim in bankruptcy court. Aloha has canceled Monday flights from Hawaii to the West Coast and between several cities in California and Nevada. (Pocatello Idaho State Journal, ID)
When your tour operator goes out of business Dec 28, 2007
Your sole recourse is filing a claim in bankruptcy court. Few businesses file for insolvency, but if they do, you become a creditor and stand a chance of recovering some of your lost funds -- just be prepared to wait a while, at least two or three years. (CNN -- Travel)
Mesaba Airlines, parent file claims of $281 million against NWA Aug 18, 2006
Minneapolis-based Mair (Nasdaq: MAIR) filed a claim in bankruptcy court to reclaim $31. 7 million, plus other unliquidated amounts. (Twin Cities Business Journal, MN)
Airline Pensions: a Vanishing Act? Jul 29, 2006
A PBGC estimate of a plan's underfunding normally doesn't become public until the agency files a claim in bankruptcy cases. Two carriers United, part of UAL Corp., and US Airways Group Inc. have already turned their pension plans over to the PBGC after declaring bankruptcy. (ABC News -- Wire)
Delta Pilots' Union Leaders Back Plan to Save Carrier $280 Million a Year Apr 23, 2006
1 billion claim in bankruptcy court for the pay cut and other benefit reductions if the pact is approved. Negotiators for Delta, the third-largest U.S. carrier, and the union reached agreement on terms April 14, averting a pilot strike. (Bloomberg -- US)
