Southern Air Holdings Inc., an air- cargo company that transported troops into Afghanistan, won court permission to exit bankruptcy under the control of a group of lenders lead by Canadian Imperial Bank of Commerce.
Washington Mutual Inc., the former owner of the biggest bank to fail, settled a battle between shareholders and noteholders that was blocking a bankruptcy-exit plan valued at more $7 billion, lawyers said.
Washington Mutual Inc., the former owner of the biggest U.S. bank to fail, resolved a dispute that had threatened to block common shareholders from getting stock in the only part of the company to exit bankruptcy.
Preferred shareholders of Washington Mutual Inc., the former owner of the biggest U.S. bank to fail, voted against the company’s $7 billion reorganization proposal, jeopardizing a plan to pay common shareholders.
Eight banks failed the European Union stress tests after regulators said July 15 they had a combined capital shortfall of 2.5 billion euros ($3.5 billion), less than predicted by analysts and investors.
Washington Mutual Inc., former owner of the biggest U.S. bank to fail, may need four more days of testimony before a judge can rule on claims of insider trading that threaten to disrupt the company’s plan to exit bankruptcy, lawyers said.