NEWS
May 14, 2012 | By David Patrick Stearns, Inquirer Music Critic
Like several previous Philadelphia Orchestra conductors, Charles Dutoit appears to be leaving a bit wounded. After visiting for more than 30 years — as guest conductor, director of the orchestra's two summer seasons, and finally as chief conductor of the regular subscription concerts — Dutoit, who is 75, this week concludes a four-year appointment that encompassed the most troubled period of the institution's history. He'll no doubt return as a guest, though not for awhile, as he maintains a respectful distance while Yannick Nézet-Séguin launches his own music-director tenure in the fall.
NEWS
April 16, 2012 | By Peter Dobrin, Inquirer Culture Writer
When the Philadelphia Orchestra filed for Chapter 11 last spring, its leaders said the reorganization would cost $2.9 million in legal and administrative fees, and they predicted the orchestra would be out of bankruptcy in the latter part of 2011. The legal tab now looks likely to be triple that initial estimate, and the case is entering its second year. On April 16, 2011, the ensemble's 75-member board voted - with a few abstentions, and all five musicians on the board voting "no" - to become the first major U.S. orchestra to file for bankruptcy.
NEWS
January 19, 2012
Lower Bucks Hospital in Bristol emerged from bankruptcy Thursday, two years after the 186-bed facility filed for protection from creditors. Bondholders, still owed $24.9 million, are expected to receive 35 percent of their claims, according to Moody's Investors Service. The hospital's bankruptcy plan was approved last month. Key to the bankruptcy plan was a $14 million loan, secured by the hospital's campus, through the Bucks County Redevelopment Authority. The hospital said it employs more than 900. - Harold Brubaker
BUSINESS
November 22, 1995 | By Julie Stoiber, INQUIRER STAFF WRITER
Loyal buyers of Reisman pretzels need not worry: Although J. Reisman & Sons Inc., of Pennsauken, has filed for Chapter 11 bankruptcy, its pips, twists, rings, rods and minis won't disappear from store shelves. The family-owned company, which has been making pretzels for more than 75 years, received approval yesterday from U.S. Bankruptcy Judge Gloria M. Burns in Camden to use future receivables to keep the company rolling. "From what I understand, it's business as usual," said Arthur J. Abramowitz, a Cherry Hill lawyer who is representing the company in the bankruptcy proceedings.
NEWS
September 27, 2011
WILMINGTON - The Roman Catholic Diocese of Wilmington has emerged from bankruptcy with the funding of a $77.4 million trust for victims of priest sex abuse. Attorneys told a Delaware bankruptcy judge that a check deposit and wire transfers had been made in compliance with Monday's deadline for funding of the trust. Under the diocese's reorganization plan, about 150 alleged abuse victims will share proceeds of the trust in return for releasing all legal claims against the diocese, its parishes, and affiliated entities.
NEWS
August 5, 2009 | By CHRISTINE OLLEY, olleyc@phillynews.com 215-854-5184
The bankruptcy proceedings involving the owner of the Daily News and Inquirer have been assigned to a new judge, according to a filing made yesterday in federal bankruptcy court. Judge Jean K. FitzSimon had been handling the case since the company filed for Chapter 11 bankruptcy protection in February. Stephen Raslavich, chief judge of the Eastern District of Pennsylvania's U.S. Bankruptcy Court, will now preside over the case, according to the filing. Sources said that they believe that the case was reassigned because FitzSimon had health issues.
BUSINESS
June 2, 1989 | By Richard Burke, Inquirer Staff Writer
A bankruptcy judge in Philadelphia has approved a plan of reorganization for the Carlton House at 1801 John F. Kennedy Boulevard, ending what is believed to be one of the largest and most complex bankruptcy cases ever in this area. Judge David A. Scholl confirmed the plan Wednesday night. The limited partnership that owns the 30-story apartment, retail and office building, TM Carlton House Partners, will emerge from bankruptcy June 30 when the plan becomes effective, Lawrence G. McMichael, a Center City lawyer who represented the group in the case, said yesterday.
NEWS
January 28, 1986 | BY LEONARD P. GOLDBERGER
It will be weeks before a federal judge decides where the Bhopal gas disaster case will be heard - in the U.S. or India. It may be years before the Bhopal victims receive settlements, and perhaps a lifetime before some recover from injuries suffered in what has been called the world's worst industrial accident. Environmental disasters, occurring as sudden accidents or slow contamination, seem to be happening with ever increasing frequency. They all have several common features: exposure of persons, property and the environment to highly toxic substances, strict liability for polluters, extensive litigation and huge damage claims.
NEWS
September 30, 2010 | By Christopher K. Hepp, INQUIRER STAFF WRITER
The Philadelphia Inquirer and Daily News took a big step toward exiting bankruptcy Thursday, when a federal judge approved the reorganization plan of the newspapers' parent company. Chief Bankruptcy Judge Stephen Raslavich approved the plan that calls for Philadelphia Newspapers L.L.C., which owns the papers and the website Philly.com, to be sold to the company's senior lenders for about $139 million. The senior lenders, a collection of about 30 financial institutions, are to settle on the sale by Oct. 8. The debtholders include Angelo, Gordon & Co., Credit Suisse, and Alden Global Capital.