October 7, 2011 5:42 PM
The Bankruptcy Files: Friendly’s and Other Distressed Delicacies
Posted by Brian Baxter
It’s been a big week for corporate bankruptcies, which trailed off earlier this year from the peak levels of 2009 and 2010 but have begun to mount again recently amid fears of a double-dip recession. At the same time, the spate of actual filings didn’t stop the insolvency-minded from focusing their attention on others that might be looming.
Consider American Airlines parent AMR, whose shares plunged early in the week after a series of reports speculating about a possible bankruptcy spooked investors about the state of the Fort Worth–based company’s financial health. Despite losing a third of their value, AMR shares had rallied by Friday and fears about a potential Chapter 11 filing appeared to have dissipated. (AMR generated plenty of non-bankruptcy legal work this summer through a massive plane purchase and the spin-off of regional carrier American Eagle.)
Also facing a fluctuating share price this week—its stock both dipped and jumped—was famed imaging and photography company Eastman Kodak. As previously reported by The Am Law Daily,
Read More from the Article Source: Full Article
