MLM Counties News. Notices. Need-to-know Information.

Patriot is negotiating with the two investors, who may participate in a rights offering that could serve as the basis for an exit from its Chapter 11 case.

Tagged with: Aurelius Capital Management Chapter 11 bankruptcy Knighthead Capital Management Patriot Coal Corp. Peabody Energy Corp.

The two sides were $30 million to $35 million apart on an agreement that would determine how retirees are treated.

Tagged with: Kathy Surratt-States Patriot Coal Corp. union United Mine Workers of America

General Motors Corp.’s plan to liquidate unwanted businesses in bankruptcy was accepted by creditors holding $17.9 billion, or 85 percent, of its unsecured debt, according to court documents.

Pfizer Inc. and its bankrupt Quigley Co. unit are close to a settlement with a group of alleged asbestos victims that would resolve the drugmaker’s liability for billions of dollars in potential claims, a lawyer said.

Tagged with: asbestos Pfizer Quigley Co. settlement

Chrysler LLC creditors won permission to sue Daimler AG over $9 billion in transfers, saying law firm Susman Godfrey LLP will take the case on contingency after the U.S. Treasury said they can’t use the estate’s assets to fund it. ...

Tagged with: Chrysler Daimler AG Susman Godfrey

Chrysler was a “melting ice cube” with no alternative to a sale to Italy’s Fiat, a U.S. appeals court said in explaining why it allowed the deal to proceed. The sale was legal under the U.S. bankruptcy code, a three-judge ...

Tagged with: Chrysler Fiat

St. Louis-based Charter Communications Inc.’s four largest investors in a $1.6 billion rights offering didn’t do a “club deal” to take control of the bankrupt cable company, a senior partner at Apollo Management testified. Eric Zinterhofer said Tuesday in U.S. ...

Tagged with: Charter Communications

St. Louis-based Charter Communications Inc.’s bankruptcy plan should be rejected because it lets Apollo Global Management and other hedge funds take control using bank lenders’ money, a lawyer for JPMorgan Chase & Co. said. JPMorgan attorney Peter Pantaleo read excerpts ...

Tagged with: Charter Communications

Charter Communications Inc.’s bankruptcy plan shouldn’t be approved because it would bar lawsuits against the cable company’s officers and directors, the U.S. Securities and Exchange Commission told a bankruptcy court. The agency added its objection Monday to others filed under ...

Tagged with: Charter Communications

Charter Communications creditor Wells Fargo Bank seeks permission to file an objection to the bankrupt cable-TV operator’s reorganization plan under seal. Wells Fargo, agent for third-lien lenders to Charter unit CCO Holdings, said in court documents filed Monday in Manhattan ...

Tagged with: Charter Communications Wells Fargo

Chrysler LLC shouldn’t provide a legal shield for directors and other parties until at least July 20, when an investigation into potential claims related to Daimler AG will be complete, unsecured creditors said. A committee of unsecured creditors said in ...

Tagged with: Chrysler Daimler AG Fiat