Unprecedented Muni Deal Will Gut Investors in Alabama Sewer Project
The costly sewage system revamp in Jefferson Counly, Ala., looks like a raw deal for muni debt holders who, for the first time, will be forced to accept a loss of principal.
Lehman Payouts to Former Clients Will Begin in 2012: Trustee
American Airlines Parent Files for Bankruptcy
AMR, the parent company of American Airlines and American Eagle, filed for Chapter 11 bankruptcy on Tuesday, citing its “very substantial cost disadvantage” compared with competitors and its labor costs. It had been the last of the “legacy” airlines to do so, and its action could affect the municipal bond...
Court Approves Man-Refco Sale
NEW YORK (HedgeWorld.com)--Refco Inc. announced that it has received approval from the U.S. Bankruptcy Court to sell substantially all the assets of its regulated commodities futures business to Man Financial Inc., a wholly owned subsidiary of Man Group plc, the hedge fund management firm. It as also announced a memorandum...