Rochelle on American Airlines, Vitro, Madoff, Kodak: Audio
A long-term contract to provide hotel rooms for airline crews could end up being deemed a "forward contract," if American Airlines Inc. loses a dispute erupting in the bankruptcy court in New York. A loss by the airline would set a precedent where many companies in bankruptcy reorganization might be unable to compel performance under contracts to supply goods and services, as Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle discuss on their podcast. Vitro SAB may have an appeal heard near the end of the year where the glass maker will try to reinstate the Mexican reorganization plan a bankruptcy judge refused to enforce in the U.S. Rochelle talks about two recent events in the liquidation of Bernard L. Madoff Investment Securities Inc., one a $1 billion victory on appeal and the other a suggestion that a district judge will extend the sweep of the safe harbor protecting swaps. The podcast wraps up describing the importance of hearings on July 2 and July 26 bearing on the sale of technology owned by Eastman Kodak Co.
Running time 12:50