Posts Tagged ‘St.’
American Airlines: Files for Bankruptcy Protection
American Airlines parent AMR Corp. (AMR) filed for bankruptcy after failing to secure cost-cutting labor agreements and sitting out a round of mergers that dropped it from the world’s largest airline to No. 3 in the U.S.
With the filing, American became the final large U.S. full- fare airline to seek court protection from creditors. The Fort Worth, Texas-based company, which traces its roots to 1920s air- mail operations in the Midwest, listed $24.7 billion in assets and $29.6 billion in debt in Chapter 11 papers filed today in U.S. Bankruptcy Court in Manhattan.
“They will have to go through the whole process that their peers have gone through,” John Strickland, an aviation analyst at JLS Consulting in London, said today in a telephone interview. “It’s painful but probably necessary. They have fallen behind what others have done.”
Chairman and Chief Executive Officer Gerard Arpey, 53, will retire and be replaced by Thomas Horton, AMR said. Normal flight schedules will continue on American and its American Eagle regional unit, along with the airline’s frequent-flier program, the company said.
AMR was determined to avoid Chapter 11 in the years after the 2001 terrorist attacks, as peers used bankruptcy to shed costly pension and retiree benefit plans and restructure debt. American later watched as rival carriers combined, giving them larger route networks that were more attractive to lucrative corporate travel customers.
http://www.bloomberg.com/news/2011-11-29/amr-files-for-bankruptcy-protection-in-new-york-as-talks-with-pilots-end.html
http://blip.tv/wiv-news/american-airlines-files-for-bankruptcy-5614412
Duration : 0:1:26
Bankruptcy Update IV – Spring 2008
Video from Minneapolis St. Paul Minnetonka, Minnesota attorney David Kelly. It’s not OK to try to pay your attorney fee for a Chapter 7 Bankruptcy and the court filing fee by pulling out a credit card. If you run up a debt intending to list it in a bankruptcy, that is fraud. It can be grounds to have a particular debt not discharged in your case; or it could be grounds to have the entire bankruptcy thrown out. Worse yet, it’s fraud and could be prosecuted as a felony.
Kelly Law Office
A Debt Relief Agency under the Federal Bankruptcy Statute
10709 Wayzata Blvd. #205
952-544-6356
dave@kelly-law.com
http://www.mn-bankruptcy.com
This video is for general information only and does not create an attorney-cleint relationship. This is not legal advice. It is suggested that you consult the attorney of your choice concerning the details of your case.
Duration : 0:3:45
Claiming Assets as Exempt in a Minnesota Chpt 7 Bankruptcy
Minneapaolis Minnesota area Minnetonka Attorney Dave Kelly discusses how to claim your assets as exempt when filing a personal Chapter 7 bankrutpcy – so your debts disappear and you can keep all or most of your assets. Kelly Law Office is a Debt Relief Agency providing relief under the federal bankruptcy laws.
Nothing contained herein is intended as a substitute for legal advice, and does not create an attorney-client relationship. It is for general information purposes only.
This video and these comments are for general information purposes only and are not intended to be legal advice. Viewing these materials does not create an attorney-client relationship. I recommend that you consult the attorney of your choice concerning the details of your case.
Kelly Law Office
A Debt Relief Agency under the Federal Bankruptcy Statute
10709 Wayzata Blvd. #205
Minnetonka, MN 55305
dave@kelly-law.com
952-544-6356
http://www.mn-bankruptcy.com
Kelly Law Office represents bankruptcy clients throughout the Twin Cities – Minneapolis, Minnesota area including Champlin, Crystal Bay, Dayton, Eden Prairie, Edina, Excelsior, Hamel, Hopkins, Howard Lake, Long Lake, Loretto, Maple Plain, Minneapolis, Minnetonka Beach, Minnetonka, Monticello, Mound, Navarre, Osseo, Otsego, Rogers, Saint Bonifacius, Saint Paul, Spring Park, Wayzata, Young America, Bloomington, Edina, St. Louis Park, Wayzata, Plymouth, Maple Grove, Brooklyn Park, Anoka, Shakopee, Hastings, Eagan, Burnsville, Buffalo, Waverly, Montrose, Hennepin County, Anoka County, Carver County, Scott County, Ramsey County, Dakota County, and Wright County.
The information you obtain at this site is for general information purposes on and is not legal advice. You should consult the attorney of your choice for individual advice regarding your own situation. The use of the Internet for communications with the firm will not establish an attorney-client relationship and messages containing confidential or time-sensitive information should not be sent.
Duration : 0:4:44
