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Judge Sean Lane of the U.S. Bankruptcy Court for the Southern District of New York gave the OK to a series of motions filed by American Airlines to facilitate American's and American Eagle's continued normal business operations throughout the reorganization process. AMR Corp., the parent company of American Airlines Inc. and AMR Eagle Holding Corp., filed to reorganize under Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of New York on Tuesday.
The affidavit of David F England, senior vice president and chief financial officer of Simon & Schuster, filed with the U.S. Bankruptcy Court of the Southern District of New York, seeks $1,961,257.80 on behalf of the publishing house, claiming that "significant portions of this debt have remained unpaid for more than six months.
The affidavit of David F. England, senior vice president and chief financial officer of Simon & Schuster, filed with the U.S. Bankruptcy Court of the Southern District of New York, seeks $1,961,257.80 on behalf of the publishing house, claiming that "significant portions of this debt have remained unpaid for more than six months.
Montvale-based Great Atlantic & Pacific Tea Co., parent of the A&P grocery chain, said Monday it reached an agreement with its principal wholesale supplier that will allow the supermarket company to save more than $50 million annually, after it exits from Chapter 11 bankruptcy. The new accord must be approved by the Bankruptcy Court. Great Atlantic & Pacific had a net loss in April of $48 million, and a loss from continuing operations of $33 million, according to documents the company filed with the U.S. Bankruptcy Court for the Southern District of New York last week. Compared with March, the company had a wider net loss but a smaller loss from continuing operations. For March, the company reported a net loss of $35 million, and a loss from continuing operations of $34.6 million.
DALLAS, Oct. 27 /PRNewswire-FirstCall/ -- Blockbuster Inc. (OTHER OTC: BLOKA, BLOKB), a leading global provider of rental and retail movie and game entertainment, today announced that it has received final authorization from the U.S. Bankruptcy Court for the Southern District of New York to obtain $125 million in "debtor-in- possession" (DIP) financing from certain of the Company's senior noteholders. This funding is available to help Blockbuster meet its obligations to customers, suppliers and employees in the ordinary course as it implements a plan to recapitalize its balance sheet and substantially reduce debt. The Court had previously authorized Blockbuster access to $20 million of the DIP financing on an interim basis. Today's final order allows Blockbuster to access the entire $12...
NEW YORK - Borders Group is seeking court approval to liquidate its 399 stores after it failed to receive any bids that would keep the 40-year-old chain in operation and canceled an auction process. Liquidation sales could start as soon as Friday. The U.S. Bankruptcy Court of the Southern District of New York is set to approve the move on Thursday.
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