Reuters: Bankruptcy News: PRESS DIGEST - Wall Street Journal - March 28

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PRESS DIGEST - Wall Street Journal - March 28 Mar 28th 2013, 07:25 March 28 | Thu Mar 28, 2013 3:25am EDT March 28 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy. * Some of the largest global banks lodged an unusual legal protest to overturn rulings that they said could limit their ability to beat back multibillion-dollar lawsuits filed two years ago by the federal regulator for Fannie Mae and Freddie Mac. () * A U.S. bankruptcy judge said it would be "inappropriate" to approve a $20 million exit package for the outgoing chief executive of American Airlines parent AMR Corp, calling it his only "hang-up" as he cleared the way for a merger with US Airways Group Inc. () * Standard & Poor's Ratings Services wants to merge the 17 lawsuits piled against it - by state attorneys general who claim the firm churned out shoddy ratings before or after the financial crisis - into a single lawsuit in federal court. () * Cyprus's government raced on Wednesday to prepare for its banks' scheduled reopening after a two-week hiatus, announcing temporary capital controls to prevent deposits from fleeing the weakened institutions. () * A prominent proxy adviser said MetroPCS Communications Inc shareholders should vote against a merger with Deutsche Telekom AG unit T-Mobile USA, saying they would receive an unfair split of the combined company and would do fine owning shares of a standalone carrier. () * A divided U.S. Supreme Court on Wednesday put the brakes on a class-action lawsuit against Comcast Corp, the latest example of the court's conservative majority limiting large suits against companies. () * Sharp Corp is banking on a proprietary technology with an unproven track record to revive its fortunes after it soon reports what's expected to be the largest annual loss in its 100-year history. () * Suncor Energy Inc, Canada's largest oil-sands producer, said it and partner Total SA won't proceed with a plan to build a multibillion-dollar facility designed to refine heavy bitumen into a light, low-sulfur synthetic crude. () * Frank Bennack is stepping down as chief executive of Hearst Corp, the media giant said late Wednesday, to be succeeded by company President Steven Swartz. () Link this Share this Digg this Email Reprints

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