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Oct 4, 2011

Top U.S. Mexican dining chain files for bankruptcy

By Tom Hals

(Reuters) – The leading Mexican restaurant operator in the United States filed for bankruptcy on Tuesday and put the company’s El Torito, Chevys Fresh Mex and Acapulco Mexican Restaurant chains up for sale.

Real Mex Restaurants Inc REALM.UL said in documents filed in Delaware’s bankruptcy court that it would soon run out of money. The company said it was suffering from a sluggish economy, high lease and debt obligations and sharp increases in food costs.

Oct 4, 2011

Plan B for UK bank lending might just work

(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own)

By George Hay

LONDON, Oct 4 (Reuters Breakingviews) – George Osborne is
gazing across the Rubicon, and hesitating. It is still hard to
see what exactly the UK Chancellor of the Exchequer meant when
he talked about “credit easing” in his speech to the
Conservative Party conference on Oct 3. But the concept looks
more radical than the ill-fated Project Merlin earlier this
year.

Oct 4, 2011

Breakingviews-Plan B for UK bank lending might just work

(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own)

By George Hay

LONDON, Oct 4 (Reuters Breakingviews) – George Osborne is
gazing across the Rubicon, and hesitating. It is still hard to
see what exactly the UK Chancellor of the Exchequer meant when
he talked about “credit easing” in his speech to the
Conservative Party conference on Oct 3. But the concept looks
more radical than the ill-fated Project Merlin earlier this
year.

Oct 3, 2011

Mediator named to find peace between LA Dodgers, MLB

Oct 3 (Reuters) – A retired federal judge was appointed
mediator on Monday to try to settle the battle for control of
the bankrupt Los Angeles Dodgers that has pitted Major League
Baseball against team owner Frank McCourt.

Joseph Farnan, who retired as a Delaware District Court
judge last year, was appointed retroactive to July 5, when he
began working as a mediator in the case, according to an order
from Delaware’s bankruptcy court on Monday.

Oct 3, 2011

LA Dodgers press to widen battle with baseball league

By Tom Hals

(Reuters) – The Los Angeles Dodgers said a bankruptcy judge has unfairly limited the team in its fight to prove Major League Baseball overstepped its bounds, according to new court documents filed on Monday.

The team and the league are battling for control of the Dodgers, which filed for bankruptcy in June.

Sep 28, 2011

Fox sues Dodgers to stop possible TV rights sale

By Tom Hals

(Reuters) – Fox Sports, a division of News Corp, sued the Los Angeles Dodgers late on Tuesday to stop a proposed sale of television rights that the team has said is key to emerging from bankruptcy protection.

The Fox complaint was largely expected but it opens another legal front for the team, which is already battling Major League Baseball for control of the team.

Sep 27, 2011

Solyndra cleared for Oct. 27 bankruptcy auction

, Sept 27 (Reuters) – Solar panel maker
Solyndra LLC, which filed for bankruptcy after borrowing $535
million from the U.S. government, on Tuesday was cleared to
begin a quick sale process that some creditors criticized as
“rushed.”

U.S. Bankruptcy Judge Mary Walrath in Delaware approved the
plan for an Oct. 27 auction of the business, citing the support
for the plan by the Department of Energy (DOE). She also
directed the company to attend a major trade show next month to
find a buyer for the business.

Sep 26, 2011

MLB: Dodgers’ lawyers conflicted, should be removed

Sept 26 (Reuters) – The lawyers for the bankrupt Los
Angeles Dodgers have put the interests of the owner, Frank
McCourt, ahead of the baseball team they represent and they
should be disqualified, according to Major League Baseball.

The disqualification request steps up the battle between
the league and McCourt over ultimate control of one of the
sport’s most storied franchises.

Sep 22, 2011

Angry HP investors seen having thin legal case

By Tom Hals

(Reuters) – Hewlett-Packard Co directors may have embarrassed themselves by keeping former Chief Executive Leo Apotheker on the job for less than a year, but the board is unlikely to face serious legal action from shareholders angry over its drooping stock price.

Legal experts said directors are generally protected from making bad decisions that were done in good faith, so any shareholder lawsuit related to the executive shake-up likely would be a stretch. In addition, showing the door to the CEO of a company with a plummeting stock price is generally considered a sign of a responsive board.

Sep 21, 2011

Analysis: WaMu ruling may change big bankruptcy negotiations

By Tom Hals

(Reuters) – For big hedge funds that throw themselves into large bankruptcies with an eye on outsized profits, the Chapter 11 case of Washington Mutual Inc may be remembered as a game-changer.

A Delaware bankruptcy judge’s ruling in the case rejecting the company’s reorganization plan could chip away at the funds’ underlying investing strategy and change how large restructurings are negotiated, according to legal experts.

    • About George

      "George Hay writes about the banking and property sectors. He joined from Thomson Financial News, where he was a companies correspondent. Before that he worked at United Business Media, where he was news editor of Building Magazine. He has a first in English Literature from Edinburgh University, and was nominated in two categories at the 2009 Business Journalist of the Year Awards."
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