Jefferson County, Alabama, and its creditors meet Nov. 21 for the first fight of the biggest U.S. municipal bankruptcy -- whether John S. Young Jr., the sewer system’s court-appointed receiver, should go home to New Jersey.
The U.S. joined Australia in scouring an area in the southern Indian Ocean about 1 1/2 times the size of California for missing Malaysian Air Flight 370, as the disappearance became the longest in modern airline history.
Patrol planes are resuming the hunt for Malaysia’s missing jetliner in the Indian Ocean off Australia after an initial foray failed to find objects seen in satellite images that kindled hopes for a breakthrough.
Energy Future Holdings Corp., the Texas power company that plans to leave bankruptcy in less than a year, can’t reduce its $50 billion in debt without fighting junior creditors who face losing their investment.
A group of Energy Future Holdings Corp.’s unsecured bondholders including billionaire Marc Lasry’s Avenue Capital Group are poised to walk off owning the most profitable asset of the bankrupt power producer after engineering a deal to avoid a free-for-all restructuring.