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The company, which is based in Clinton, Miss., sought a bankruptcy court's approval yesterday to make severance payments to employees laid off before its filing.
Texas Pacific made overtures to United before its filing, as well, but the airline's executives were focused on their unsuccessful effort to win a $1.8 billion federal loan guarantee and told the firm they were not interested.
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And the fact that the state-court suit was filed before the federal suit is not sufficient reason to justify the stay order, where because petitioner's refusal to arbitrate did not occur until less than a day before it filed its state suit, respondent had no reasonable opportunity to file its federal suit first.
UAL said in court papers that before it filed its plan it wanted to resolve certain issues, such as whether it will receive a $1.6 billion loan guarantee from the Air Transportation Stabilization Board.
Meet The Fastest Growing Company Ever, our August 2010 cover story on Groupon, long before it filed its S-1.
Before it filed its ILC application, company representatives consulted with a small number of pivotal staff members on Capitol Hill, and were advised to delay the filing until a resolution could be reached on Wal-Mart, says a Washington lobbyist with close ties to the House and Senate financial services committees and knowledge of the situation.
There is a likelihood that the bid amount of public sector insurer is leaked before it files its bid.
Prosecutors are said to believe that Mr. Lay secured a loan of $7.5 million from Enron shortly before its bankruptcy filing, never intending to pay it back.
Last month, just days before its bankruptcy filing, Detroit reached its first settlement with creditors.
Even before its bankruptcy filing and the attacks, ANC was struggling financially.
Executives said that Cable and Wireless had been interested in Exodus even before its bankruptcy filing.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com