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Home > Bankruptcy News

Bankruptcy News Feb 2007

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A Viable Alternative to Bankruptcy
(ARA) - If you're carrying thousands of dollars in credit card debt, struggling to pay the rent every month and getting calls from collections agencies, you might be considering bankruptcy. Yet for almost all circumstances, a good financial advisor will tell you that's the last thing you should do. (Thu, 01 Feb 2007 03:48:20 GMT)

Incubator battles back from bankruptcy
The First Flight Venture Center has battled back from a financial scandal that dried up its state funding and pushed it into bankruptcy. (Thu, 01 Feb 2007 05:22:58 GMT)

Chit Chat America files for Ch. 11 bankruptcy
A Wichita-based wireless phone reseller has filed for Chapter 11 bankruptcy protection, saddled with more than $1 million in debt after expanding too quickly. (Thu, 01 Feb 2007 07:09:08 GMT)

Davenport Diocese Wants More Time in Bankruptcy Case
DAVENPORT (AP) - The Roman Catholic Diocese of Davenport and a creditors committee in its bankruptcy case have asked for more time for people to file claims. (Thu, 01 Feb 2007 17:30:47 GMT)

A Viable Alternative to Bankruptcy
(ARA) - If you're carrying thousands of dollars in credit card debt, struggling to pay the rent every month and getting calls from collections agencies, you might be considering bankruptcy. Yet for almost all circumstances, a good financial advisor will tell you that's the last thing you should do. (Thu, 01 Feb 2007 18:15:28 GMT)

Davenport Diocese asks for more time in bankruptcy case
DAVENPORT, Iowa - The Roman Catholic Diocese of Davenport and a creditors committee in its bankruptcy case have asked for more time for potential church abuse victims to file claims. (Thu, 01 Feb 2007 18:17:29 GMT)

FMXIQ: Bankruptcy Court Approves Chapter 11 Plan of Reorganization
Foamex International Inc. (FMXIQ) announced that the United States Bankruptcy Court for the District of Delaware has confirmed the Company's Second Amended Joint Plan of Reorganization, setting the stage for the Company's emergence from chapter 11, which is expected to occur on February 12, 2007. (Thu, 01 Feb 2007 18:37:55 GMT)

Davenport diocese wants more time in bankruptcy case
DAVENPORT, Iowa The Roman Catholic Diocese of Davenport and a creditors committee in its bankruptcy case have asked for more time for people to file claims. (Thu, 01 Feb 2007 20:26:02 GMT)

Area bankruptcy filings up from last January
Bankruptcy filings in northwest Ohio jumped in January from a year ago, perhaps indicating that the caseload may be on the rise again. (Fri, 02 Feb 2007 11:36:07 GMT)

Bankruptcy Looms For Eastern Oklahoma Town
MOFFETT, Okla. (AP) -- A small eastern Oklahoma town is filing for bankruptcy. (Fri, 02 Feb 2007 18:50:10 GMT)

Bankruptcy looms for small town
MOFFETT, Okla. A small eastern Oklahoma town is filing for bankruptcy. The town of Moffett is filing for Chapter 9 bankruptcy protection after trustees... (Fri, 02 Feb 2007 18:52:03 GMT)

Bankruptcy. Hostile Bid. What Next?
Gerald Grinstein, head of Delta, discussed the recent takeover battle and Delta?s future. (Sat, 03 Feb 2007 04:02:59 GMT)

Creditors back Delta bankruptcy recovery
ATLANTA - Lawyers for Delta Air Lines Inc., the nation's third-largest carrier, said Friday in court papers that the company's creditors' committee has approved the terms of the $2.5billion in financing that Delta has secured to emerge from bankruptcy protection. (Sat, 03 Feb 2007 04:47:57 GMT)

Delta creditors OK bankruptcy exit
ATLANTA - Lawyers for Delta Air Lines, the nation's third-largest carrier, said Friday in court papers that the company's creditors' committee has approved the terms of the $2.5 billion in financing that Delta has secured to emerge from bankruptcy protection. (Sat, 03 Feb 2007 05:57:39 GMT)

The hard choice between an IVA and bankruptcy
Banks cannot be blamed for all consumer debt, nor can they always be expected to pick up the pieces when credit problems prove terminal, says Emma Thelwell. (Sat, 03 Feb 2007 08:40:39 GMT)

Delta creditors OK $2.5 billion for bankruptcy exit financing
ATLANTA -- Lawyers for Delta Air Lines Inc., the third-largest U.S. carrier, said Friday in court papers that the company's creditors' committee has approved the terms of the $2.5 billion in financing that Delta has secured to emerge from bankruptcy protection. (Sat, 03 Feb 2007 10:01:12 GMT)

Moffett files for bankruptcy
After being banned from issuing highway traffic tickets, the town is having difficulty paying its debts. (Sat, 03 Feb 2007 10:32:26 GMT)

Plastics plant with 460 workers files for bankruptcy
One of St. Clair County's biggest manufacturers has filed for bankruptcy, but jobs for its more than 460 local employees are not in danger, company officials said. (Sat, 03 Feb 2007 11:46:36 GMT)

Man sentenced to prison for bankruptcy fraud
PROVIDENCE, R.I. (AP) -- A man is sentenced to eight months in federal prison for lying in his bankruptcy filings. Richard Cecca, of Plymouth, Massachusetts, must also serve eight months in home confinement. (Sun, 04 Feb 2007 03:50:40 GMT)

Pizzeria venture mired in $11 million bankruptcy
The operator of five state Pizzeria Uno restaurants has filed for personal bankruptcy, saying he owes more than $11 million to creditors, including 2002 Powerball winner Jack Whittaker. (Sun, 04 Feb 2007 05:06:33 GMT)

Alderman candidates have filed for bankruptcy
Tyrone De'Andre Hawthorne wants Chicago's vote for the 17th Ward aldermanic seat. He has been endorsed by the Service Employees International Union Local 20 and the Illinois Committee for Honest Government. (Sun, 04 Feb 2007 08:55:25 GMT)

A Viable Alternative to Bankruptcy
(ARA) - If you're carrying thousands of dollars in credit card debt, struggling to pay the rent every month and getting calls from collections agencies, you might be considering bankruptcy. Yet for almost all circumstances, a good financial advisor will tell you that's the last thing you should do. (Sun, 04 Feb 2007 13:10:37 GMT)

Latest bankruptcy gives Sunny's Surplus a gloomy forecast
Well-known local retailer Sunny's Surplus has filed Chapter 11 bankruptcy for the second time in seven years. (Mon, 05 Feb 2007 05:47:12 GMT)

Solutia bankruptcy benefits Blackwell, Spencer Fane
Two local law firms are making gains amid the pain of Solutia Inc.'s ongoing bankruptcy case. (Mon, 05 Feb 2007 05:47:32 GMT)

Washington Group thrives following 2 bankruptcies
Five years ago, when Washington Group International was emerging from its second bankruptcy filing in six years, it appeared the company's image would be severely tarnished. (Mon, 05 Feb 2007 07:16:58 GMT)

Bankruptcy filings
The following people and organizations filed for bankruptcy protection from the U.S. Northern District Bankruptcy Court from Jan. 26-Feb. 1. Mary K. and Robert L. Zirkle Jr. of 129 Echo Lake Lane filed for Chapter 7 on Jan. 31. (Mon, 05 Feb 2007 07:56:16 GMT)

GM succeeds in being taken seriously again
General Motors Corp., bleeding money and the subject of bankruptcy speculation a year ago, needed a dramatic change. (Mon, 05 Feb 2007 08:07:38 GMT)

Federal Mogul's final bankruptcy hearing set for May
Federal Mogul Corp., a Southfield-based auto supplier of pistons and transmission products, said its bankruptcy judge set May 8 as a final hearing date before it emerges from bankruptcy. (Mon, 05 Feb 2007 18:02:19 GMT)

Mortgage Lenders Network files for Ch. 11 bankruptcy protection
Mortgage Lenders Network USA Inc. , which caters to borrowers with weak credit, filed for bankruptcy-court protection Monday, the latest in a string of subprime home-loan providers to be hit by slowing home sales and rising delinquencies. (Mon, 05 Feb 2007 21:18:59 GMT)

Indicted lawmaker filed twice for bankruptcy protection
JEFFERSON CITY — A state lawmaker indicted for bank and credit card fraud has twice filed for bankruptcy. (Mon, 05 Feb 2007 23:29:19 GMT)

A Viable Alternative to Bankruptcy
(ARA) - If you're carrying thousands of dollars in credit card debt, struggling to pay the rent every month and getting calls from collections agencies, you might be considering bankruptcy. Yet for almost all circumstances, a good financial advisor will tell you that's the last thing you should do. (Tue, 06 Feb 2007 01:33:28 GMT)

Mortgage Lenders Network files for bankruptcy
(New York-AP, Feb. 5, 2007 10:35 PM) _ The Middletown-based mortgage finance company filed for protection from a bankruptcy court Monday. (Tue, 06 Feb 2007 03:50:28 GMT)

Federal-Mogul is set to emerge from bankruptcy
Federal-Mogul Corp., a Southfield-based auto supplier of pistons and transmission parts, said Monday its bankruptcy judge set May 8 as a final hearing date before it emerges from bankruptcy after half a decade of court protection from creditors. (Tue, 06 Feb 2007 08:08:31 GMT)

Federal-Mogul hearing on bankruptcy exit set for May
Southfield-based Federal-Mogul Corp. (OTC Bulletin Board: FDMLQ) said Monday that a bankruptcy judge has set May 8 as its final hearing date before exiting bankruptcy. (Tue, 06 Feb 2007 08:11:39 GMT)

MLN In Bankruptcy Court
A Middletown-based mortgage company that once promoted itself as a model for building employment in Connecticut filed for bankruptcy Monday after a monthlong downward spiral that cost hundreds of workers their jobs. (Tue, 06 Feb 2007 08:17:40 GMT)

Troubled Conn. mortgage firm seeks bankruptcy protection
MIDDLETOWN, Conn. Mortgage Lenders Network is seeking bankruptcy protection as it tries to keep afloat. (Tue, 06 Feb 2007 11:39:41 GMT)

United pays down debt from bankruptcy
Remaining $2 billion refinanced at cut rate United Airlines said Monday that it paid off $972 million of the borrowings it used to exit bankruptcy a year ago and refinanced the remaining $2 billion, reducing interest costs. (Tue, 06 Feb 2007 11:46:12 GMT)

Ky. Petroleum Recycling aims for bankruptcy exit
A new partner in Kentucky Petroleum Recycling Inc. at 6911 Grade Lane says the company plans to emerge from Chapter 11 bankruptcy protection later this month. Skip Whitaker, who bought one-third of the business, said five employees were laid off during the reorganization, and five remain. The company, founded in 1962, accepts anti-freeze, used oil and oil filters. The other owners are Jim and ... (Tue, 06 Feb 2007 17:49:43 GMT)

Delta: Bankruptcy statement approved
Attorney Marshall Huebner made the comment in a brief filing ahead of Wednesday's bankruptcy court hearing on Delta's request to approve the disclosure statement. Huebner wrote that details of the objections that have been resolved will be discussed at the hearing in New York. (Tue, 06 Feb 2007 18:22:06 GMT)

A Viable Alternative to Bankruptcy
(ARA) - If you're carrying thousands of dollars in credit card debt, struggling to pay the rent every month and getting calls from collections agencies, you might be considering bankruptcy. Yet for almost all circumstances, a good financial advisor will tell you that's the last thing you should do. (Tue, 06 Feb 2007 20:10:04 GMT)

Asbestos concerns sink Congoleum bankruptcy plan
TRENTON, N.J.—A federal bankruptcy judge has rejected Congoleum Corp.’s 10th attempt at a Chapter 11 reorganization plan to resolve hundreds of millions of dollars of asbestos claims, citing its unequal treatment of claimants and other flaws. (Tue, 06 Feb 2007 21:54:21 GMT)

Mortgage Lenders files for bankruptcy
A Connecticut-based mortgage company that had been aggressively expanding across the country just months ago is seeking bankruptcy court permission to liquidate. (Tue, 06 Feb 2007 22:20:43 GMT)

Delta bankruptcy: Airline says objections resolved
ATLANTA - Delta Air Lines, which is operating under bankruptcy protection, has resolved all the objections to the disclosure statement to its reorganization plan, a company lawyer said in court papers Tuesday. Attorney Marshall Huebner made the comment in a brief filing ahead of today's bankruptcy court hearing on Delta's request to approve the disclosure statement. (Wed, 07 Feb 2007 07:11:38 GMT)

Indicted lawmaker filed twice for bankruptcy protection
JEFFERSON CITY, Mo. (AP) – A state lawmaker indicted for bank and credit card fraud has twice filed for bankruptcy. (Wed, 07 Feb 2007 09:05:09 GMT)

. . . as its bankruptcy case enters the home stretch
Delta Air Lines Inc., which is operating under bankruptcy protection, has resolved all the objections to the disclosure statement to its reorganization plan, a company lawyer said in court papers Tuesday. (Wed, 07 Feb 2007 10:12:02 GMT)

Judge Extends Brewery's Bankruptcy Date
A federal bankruptcy judge has given Pittsburgh Brewing Co. three more weeks to cut deals with creditors and file a reorganization plan with the court. (Wed, 07 Feb 2007 17:54:10 GMT)

Delta to Begin Bankruptcy Plan Vote
Delta to Begin Soliciting Votes for Bankruptcy Reorganization Plan After Judge's Approval (Wed, 07 Feb 2007 20:18:16 GMT)

Delta to begin bankruptcy plan vote
Delta Air Lines moved a giant step closer to emerging from bankruptcy Wednesday when a judge approved a disclosure statement that will be sent to creditors along with its reorganization plan. (Wed, 07 Feb 2007 23:50:39 GMT)

Delta closer to exiting bankruptcy
Delta Air Lines moved a giant step closer to emerging from bankruptcy when a judge approved a disclosure statement that will be sent to creditors along with its reorganization plan. U.S. Bankruptcy Judge Adlai Hardin also ruled to block any strike action by pilots of Delta subsidiary Comair, if it imposes wage cuts and other concessions on them. Hardin's approval of Delta's disclosure statement ... (Thu, 08 Feb 2007 03:01:57 GMT)

Bankruptcy judge blocks Comair pilots from striking
Comair filed for Chapter 11 bankruptcy protection in September 2005. CINCINNATI -- A federal bankruptcy judge on Wednesday blocked Comair pilots from going on strike if the Delta Air Lines subsidiary imposes wage cuts and other concessions on them, the regional airline said. (Thu, 08 Feb 2007 07:12:43 GMT)

Delta clears obstacle in bankruptcy
ATLANTA - A week after defeating a hostile takeover bid, Delta Air Lines got clearance to start taxiing toward a departure from bankruptcy court this spring. After a short hearing Wednesday in New York, U.S. Bankruptcy Judge Adlai Hardin approved Delta's description of its reorganization plan, allowing the Atlanta carrier to begin seeking creditors' backing for the plan. (Thu, 08 Feb 2007 07:13:07 GMT)

Judge OKs key step for Delta to exit bankruptcy
A judge approved a disclosure statement Wednesday that will be sent to creditors along with a Delta Air Lines reorganization plan, a step that accelerates the airline's exit from bankruptcy protection. U.S. Bankruptcy Judge Adlai Hardin's approval allows Delta Air Lines Inc. to begin soliciting votes for its plan to emerge this spring. The court action came a week after US Airways withdrew its ... (Thu, 08 Feb 2007 08:16:56 GMT)

Delta steps toward bankruptcy exit
NEW YORK -- A judge approved a disclosure statement that will be sent to creditors along with a Delta Air Lines reorganization plan, a big step forward in the airline's effort to exit bankruptcy. U.S. Bankruptcy Judge Adlai Hardin's approval allows Delta Air Lines Inc. (Thu, 08 Feb 2007 10:01:02 GMT)

Delta bankruptcy exit plan clears hurdle
A week after defeating a hostile takeover bid, Delta Air Lines got clearance to start taxiing toward a departure from bankruptcy court this spring. After a short hearing Wednesday in New York, U.S. Bankruptcy Judge Adlai Hardin approved Delta's description of its reorganization plan, allowing the Atlanta carrier to begin seeking creditors' backing for the plan. The decision marks a "momentous" ... (Thu, 08 Feb 2007 11:37:30 GMT)

Delta to begin soliciting votes for bankruptcy reorganization
A judge has approved a disclosure statement that will be sent to creditors along with a Delta Air Lines reorganization plan , a big step forward in the airline's effort to exit bankruptcy. read more (Thu, 08 Feb 2007 11:48:21 GMT)

Delta hopes to quit bankruptcy in late April
US carrier Delta Air Lines plans to exit bankruptcy as soon as late April after winning court backing for its latest plans to go it alone as an independent company. (Thu, 08 Feb 2007 17:23:01 GMT)

A Viable Alternative to Bankruptcy
(ARA) - If you're carrying thousands of dollars in credit card debt, struggling to pay the rent every month and getting calls from collections agencies, you might be considering bankruptcy. Yet for almost all circumstances, a good financial advisor will tell you that's the last thing you should do. (Thu, 08 Feb 2007 21:50:16 GMT)

Country singer Kershaw files for bankruptcy
Country singer Sammy Kershaw has filed for bankruptcy, listing his creditors as the Internal Revenue Service, banks, lawyers and others. In his Chapter 13 filing Tuesday in U.S. Bankruptcy Court in Tennessee, he listed both his assets and liabilities between $100,001 and $1 million. (Fri, 09 Feb 2007 01:56:03 GMT)

Fast-growing computer retailer files bankruptcy
The owners of a once rapidly growing computer builder and retailer have filed for liquidation bankruptcy, claiming assets of $228,000 and debts of $2.2 million. (Fri, 09 Feb 2007 07:10:17 GMT)

Bankruptcy filings dive 71 percent
Just 3,350 bankruptcy petitions were filed in Eastern Washington last year, abruptly ending a five-year trend of filings hovering near or above the 10,000 mark. (Fri, 09 Feb 2007 08:23:58 GMT)

 Company winding up and bankruptcy petition court statistics - fourth quarter 2006
The Department for Constitutional Affairs today publishes statistics for company winding up, and creditors' and debtors' bankruptcy petitions issued in the High Court and county courts of England and Wales during the fourth quarter of 2006. (Fri, 09 Feb 2007 09:35:31 GMT)

Dwek may be forced into bankruptcy
Creditors of failed real-estate mogul Solomon Dwek speculated Thursday that Dwek may be forced into bankruptcy, moving the complex and sprawling case to federal court. (Fri, 09 Feb 2007 09:44:40 GMT)

Russian bankruptcy official: Chevron interested in acquiring Yukos assets
U.S. oil company Chevron Corp. has expressed interest in acquiring assets of oil giant OAO Yukos , a Russian bankruptcy official said Friday. (Fri, 09 Feb 2007 11:37:05 GMT)

Bankruptcy sidesteps trial for diocese
The Roman Catholic Diocese of Davenport is in bankruptcy. (Fri, 09 Feb 2007 12:01:45 GMT)

Russian bankruptcy official says Chevron interested in buying Yukos
A Russian bankruptcy official says that San Ramon-based Chevron is expressing interest in buying the assets of the bankrupt Russian oil company Yukos. (Fri, 09 Feb 2007 23:56:20 GMT)

EnerNorth Files Notice of Intention to Make a Proposal Under the Bankruptcy and Insolvency Act (Canada)
EnerNorth Industries Inc. (AMEX: ENY)(FRANKFURT: EPW1) (www.enernorth.com) ('EnerNorth' or the 'Company') announces that it has filed a Notice of Intention to make a proposal to its creditors under the Bankruptcy and Insolvency Act (Canada) ('BIA'). The BIA stays all actions against the Company to give it time to make a proposal to its creditors to satisfy their claims without bankruptcy. The ... (Sat, 10 Feb 2007 00:38:35 GMT)

Kershaw Files For Bankruptcy
Country star SAMMY KERSHAW has filed for bankruptcy. The SHE DON'T KNOW SHE'S BEAUTIFUL singer listed his liabilities between $100,001 (GBP51,280) an (Sat, 10 Feb 2007 02:09:53 GMT)

Sammy Kershaw Files for Bankruptcy
Sammy Kershaw, who hit No. 1 in 1993 with "She Don't Know She's Beautiful," has filed for bankruptcy in U.S. Bankruptcy Court in Nashville. (Sat, 10 Feb 2007 07:29:14 GMT)

Woman gets prison for fraud in bankruptcy
ROCKFORD — A local woman was sentenced Friday in federal court to five months in prison without parole for concealing property during her bankruptcy proceedings. (Sat, 10 Feb 2007 08:01:14 GMT)

SCHAFER: BANKRUPTCY, PROPERTY TAX INCREASE THE ONLY OPTIONS FOR COUNTY
Failure of Congress to provide safety net funding will leave Curry County the choice of voting for a temporary property tax increase or facing bankruptcy, citizens at a town hall meeting in Brookings Thursday were told. (Sat, 10 Feb 2007 08:38:56 GMT)

Creditors request Dwek bankruptcy
PNC Bank and two other creditors have filed papers to force real estate magnate Solomon Dwek into an involuntary bankruptcy, which would abruptly end the efforts of a local judge to sell Dwek's sprawling assets himself. (Sat, 10 Feb 2007 09:33:30 GMT)

A Viable Alternative to Bankruptcy
(ARA) - If you're carrying thousands of dollars in credit card debt, struggling to pay the rent every month and getting calls from collections agencies, you might be considering bankruptcy. Yet for almost all circumstances, a good financial advisor will tell you that's the last thing you should do. (Sat, 10 Feb 2007 10:33:35 GMT)

Diocese dodges bullet in bankruptcy filing
The Roman Catholic Diocese of Davenport is in bankruptcy. Its headquarters will go on the auction block this spring. The bishop's home also is going to be sold, and the diocese has paid $9 million to resolve cases in which 37 men say they were sexually abused as boys by priests. (Sat, 10 Feb 2007 11:20:34 GMT)

Another Catholic diocese in bankruptcy
IOWA CITY, Iowa — The Roman Catholic Diocese of Davenport is in bankruptcy. Its headquarters will go on the auction block this spring. (Sat, 10 Feb 2007 15:25:29 GMT)

Treasury stands firm as Lloyd's Names voice bankruptcy fears
Lloyd's Names are claiming they are still at real risk of bankruptcy, despite last year's deal to remove outstanding liabilities. (Sun, 11 Feb 2007 00:33:38 GMT)

Repossesion, bankruptcy will add to financial woes
Q Which is worse: Calling the bank and telling them you want them to repossess your car because you can't make the loan payments? Or filing for bankruptcy? If we turn in our cars, we can make our other bills. (Sun, 11 Feb 2007 07:12:02 GMT)

A Viable Alternative to Bankruptcy
(ARA) - If you're carrying thousands of dollars in credit card debt, struggling to pay the rent every month and getting calls from collections agencies, you might be considering bankruptcy. Yet for almost all circumstances, a good financial advisor will tell you that's the last thing you should do. (Sun, 11 Feb 2007 22:05:55 GMT)

Adelphia Asks for Bankruptcy Court Approval of $5.2M Worker Bonus Plan
Feb. 12, 2007 (Associated Press) NEW YORK - Adelphia Communications Corp. and its creditors have asked a bankruptcy judge to approve a $5.2 million retention plan to keep key accounting personnel on board while its Chapter 11 reorganization plan has been put on hold. (Mon, 12 Feb 2007 00:35:01 GMT)

Bankruptcy filings
These bankruptcies were filed Jan. 30-Feb. 8 in U.S. District Court, Indianapolis, for the Southern District of Indiana. D-debt; A-assets. (Mon, 12 Feb 2007 07:52:33 GMT)

AUTOS: Unions try to stall sale of Dana unit
Unions representing Dana Corp. workers want a bankruptcy judge to put the brakes on the sale of the company's engine hard-parts business because the buyer won't honor retiree benefits. In December, Dana said it had reached an agreement to sell the business to German supplier Mahle GmbH for $157 million, in an effort to further its Chapter 11 reorganization. (Mon, 12 Feb 2007 08:14:44 GMT)

Bankruptcy judges back homeowners
It's rare that the three federal bankruptcy judges in South Carolina are forced to make the call on a state law that could affect the financial futures of thousands of cash-strapped homeowners. (Mon, 12 Feb 2007 14:02:39 GMT)

More debt, less bankruptcy
OTTAWA -- The tide of consumer debt continued rising in 2006, but fewer Canadians drowned in it, according to data from the Office of the Superintendent of Bankruptcy. (Mon, 12 Feb 2007 18:29:53 GMT)

A Viable Alternative to Bankruptcy
(ARA) - If you're carrying thousands of dollars in credit card debt, struggling to pay the rent every month and getting calls from collections agencies, you might be considering bankruptcy. Yet for almost all circumstances, a good financial advisor will tell you that's the last thing you should do. (Mon, 12 Feb 2007 18:33:56 GMT)

Bankruptcy Topics
What is Bankruptcy? Bankruptcy allows the person in debt get a "fresh start". Find out more here. (Mon, 12 Feb 2007 18:57:22 GMT)

Adelphia bankruptcy exit plan ruled effective by judge
NEW YORK, Feb 12 (Reuters) - A U.S. district court judge lifted the stay on the bankruptcy plan of cable operator Adelphia Communications Corp. on Monday, allowing the company to distribute $17 billion in stock and cash owed to creditors. (Mon, 12 Feb 2007 19:06:19 GMT)

Foamex says emerges from chapter 11 bankruptcy protection
Feb 12 (Reuters) - Foam products maker Foamex International Inc. said it has completed its reorganization and emerged from chapter 11 bankruptcy protection. (Mon, 12 Feb 2007 19:10:14 GMT)

FMXIQ: Emerges from Chapter 11 Bankruptcy; Gregory J. Christian Named President
Foamex International Inc. (FMXIQ) announced that its Plan of Reorganization has become effective and the Company has successfully emerged from chapter 11 bankruptcy protection. (Mon, 12 Feb 2007 19:39:29 GMT)

Foamex exits bankruptcy, names president
Foamex International Inc. said Monday that its plan of reorganization has become effective and the company has emerged from Chapter 11 bankruptcy protection. (Mon, 12 Feb 2007 20:07:20 GMT)

ChoicePoint(R) Sells Bulk Bankruptcy, Liens and Judgments Records Business; Enters into Long-Term Access Agreement
ALPHARETTA, Ga., Feb. 12 /PRNewswire-FirstCall/ -- ChoicePoint ( Nachrichten ) announced today that it has sold part of its public records operations, specifically the businesses that collect bankruptcy, lien and judgment (BLJ) records and provide them on a wholesale, bulk basis to commercial enterprises around the country. (Mon, 12 Feb 2007 22:15:58 GMT)

ChoicePoint(R) Sells Bulk Bankruptcy, Liens and Judgments Records Business; Enters into Long-Term Access Agreement
ChoicePoint announced today that it has sold part of its public records operations, specifically the businesses that collect bankruptcy, lien and judgment (BLJ) records and provide them on a wholesale, bulk basis to commercial enterprises around the country. The terms of the sale and the buyer were not disclosed but the transaction is not expected to have a material impact on ChoicePoint's ... (Tue, 13 Feb 2007 02:39:16 GMT)

ResMae Files for Bankruptcy, Will Sell Assets to Credit Suisse
Feb. 13 (Bloomberg) -- ResMae Mortgage Corp., a U.S. home lender to people with bad credit, said it filed for bankruptcy protection and agreed to sell some of its assets to Switzerland's Credit Suisse Group. (Tue, 13 Feb 2007 14:05:55 GMT)

Adelphia confirms bankruptcy plan effective
NEW YORK, Feb 13 (Reuters) - Bankrupt cable operator Adelphia Communications Corp. said on Tuesday that its bankruptcy exit plan had taken effect. (Tue, 13 Feb 2007 16:03:43 GMT)

Bankruptcy filings nearly double in January
Bankruptcy filings in Arizona nearly doubled in January to 592 compared with 303 filings a year ago. (Tue, 13 Feb 2007 16:31:32 GMT)

Adelphia Bankruptcy Plan Takes Effect
Bankrupt cable operator Adelphia Communications Corp. confirmed its bankruptcy exit plan became effective Tuesday, clearing the way for it to distribute $17 billion in cash and stock to creditors. (Tue, 13 Feb 2007 17:28:27 GMT)

ResMae Seeks Bankruptcy; Credit Suisse to Buy Assets (Update2)
Feb. 13 (Bloomberg) -- ResMae Mortgage Corp., a U.S. home lender to people with bad credit, filed for bankruptcy protection and said Switzerland's Credit Suisse Group agreed to buy most of its assets for $19.1 million. (Tue, 13 Feb 2007 17:36:00 GMT)

Adelphia confirms bankruptcy plan
Adelphia Communications Corp.'s Chapter 11 bankruptcy plan has taken effect, the company said Tuesday. (Tue, 13 Feb 2007 17:39:00 GMT)

Brea subprime lender ResMae files for bankruptcy protection
It agrees to sell assets to Credit Suisse Group for $19.08 million. Brea-based ResMae Mortgage Corp ., a U.S. lender to Americans with poor credit, has filed for bankruptcy protection and agreed to sell its assets to Credit Suisse Group Inc . for $19.08 million, court papers show. (Tue, 13 Feb 2007 19:31:08 GMT)

Another subprime lender, ResMAE, files for bankruptcy
SAN FRANCISCO (MarketWatch) - Subprime lender ResMAE Mortgage Corp. filed for bankruptcy protection this week, the latest sign of stress in the market for low-end home loans. (Tue, 13 Feb 2007 20:08:56 GMT)

A Viable Alternative to Bankruptcy
(ARA) - If you're carrying thousands of dollars in credit card debt, struggling to pay the rent every month and getting calls from collections agencies, you might be considering bankruptcy. Yet for almost all circumstances, a good financial advisor will tell you that's the last thing you should do. (Wed, 14 Feb 2007 05:43:59 GMT)

Bankruptcy Jolts Indie Publishers
Within the world of independent books, publishers are normally preoccupied this time of year with getting their new titles to distributors so distributors can include them in the annual catalogue they market to booksellers. (Wed, 14 Feb 2007 07:56:26 GMT)

Is new bankruptcy law confusing public?
A new law that makes it harder for individuals to wipe out debt may have had an unintended result. It could be working too well. Far fewer people are declaring bankruptcy, and that has court officials in New Jersey and elsewhere concerned that potential filers may not understand their rights. (Wed, 14 Feb 2007 12:56:54 GMT)

Brea subprime lender ResMae files for bankruptcy protection
It agrees to sell assets to Credit Suisse Group for $19.08 million. Brea-based ResMae Mortgage Corp ., a U.S. lender to Americans with poor credit, has filed for bankruptcy protection and agreed to sell its assets to Credit Suisse Group Inc . for $19.08 million, court papers show. (Wed, 14 Feb 2007 13:31:09 GMT)

Emerge Interactive, Inc. Files for Bankruptcy Protection
eMerge Interactive, Inc. ('eMerge') announced that today it filed for voluntary protection under Chapter 11 of the United States Bankruptcy Code in the federal bankruptcy court for the Southern District of Florida, West Palm Beach division. eMerge also announced that today it and PRIME BioSolutions, LLC ('PRIME') mutually agreed to terminate the previously announced merger agreement between them ... (Wed, 14 Feb 2007 19:25:22 GMT)

Latvian Supreme Courts rules on bankruptcy case
RIGA - The Latvian Supreme court has sentenced Aleksandrs Lavents, a defendant in a criminal case over the malicious bankruptcy of Banka Baltija bank, to a seven year and seven month jail term plus confiscation of property. Co- defendant Talis Freimanis was sentenced to six years in jail plus confiscation of property. (Wed, 14 Feb 2007 20:38:06 GMT)

Bankruptcy filings double in Jan.
By WILL ASTOR Rochester Business Journal February 14, 2007 More than twice as many Rochester-area residents filed bankruptcy petitions in January as did a year ago. (Wed, 14 Feb 2007 20:56:33 GMT)

Sheldon Drobny: The AAR Bankruptcy Should Be Investigated
On February 8th I wrote about the pending sale of AAR. In that post, Air America Radio Sold For $4.25 Million: When figures Lie and Liars Figure at http://www.huffingtonpost.com/sh I described how 3 former directors who provided the post bankruptcy financing were using the bankruptcy provisions to effectively screw the unsecured creditors ... (Thu, 15 Feb 2007 02:18:06 GMT)

A Viable Alternative to Bankruptcy
(ARA) - If you're carrying thousands of dollars in credit card debt, struggling to pay the rent every month and getting calls from collections agencies, you might be considering bankruptcy. Yet for almost all circumstances, a good financial advisor will tell you that's the last thing you should do. (Thu, 15 Feb 2007 02:51:46 GMT)

Utah bankruptcy filings rose 58#x25 in January
Utah bankruptcies in January climbed to 368 filings, up 58 percent from 233 filings in January 2006, according to the U.S. Bankruptcy Court for the District of Utah. (Thu, 15 Feb 2007 07:11:46 GMT)

Dwek amenable to bankruptcy if it lets him reorganize business
Real estate mogul Solomon Dwek will not oppose a move by PNC Bank to force him into bankruptcy, his lawyer said Wednesday. (Thu, 15 Feb 2007 09:47:31 GMT)

Town loses its train to bankruptcy
WASHINGTON, Ind. – A miniature train that generations of children rode at a drive-in theater and later at a park cannot be recovered from a restoration expert who has declared bankruptcy, city officials said. (Thu, 15 Feb 2007 10:49:36 GMT)

Bankruptcy Judge OKs $145M Delphi Fees
A federal bankruptcy judge on Thursday approved $145 million in fees to lawyers and financial advisers for the first year of the restructuring of auto parts supplier Delphi. (Thu, 15 Feb 2007 18:36:34 GMT)

NWA projects $7B value after bankruptcy
Northwest Airlines Corp. said Thursday it expects to be worth roughly $7 billion when it emerges from bankruptcy later this year, and will pay its unsecured creditors roughly three-quarters of what they are owed. (Thu, 15 Feb 2007 19:10:58 GMT)

NWA says it'll be worth $7billion post-bankruptcy
MINNEAPOLIS — Northwest Airlines Corp., Michigan's biggest passenger air carrier, said Thursday it expects to be worth roughly $7 billion when it emerges from bankruptcy later this year, and will pay its unsecured creditors roughly three-quarters of what they are owed. (Thu, 15 Feb 2007 19:18:13 GMT)

NWA Projects $7B Value After Bankruptcy
Northwest Airlines Projects It'll Be Worth $7B Post-Bankruptcy (Thu, 15 Feb 2007 19:33:25 GMT)

Northwest Airlines to exit bankruptcy
The No. 5 carrier says it is on track to exit bankruptcy in the second quarter, with a value of about $7 billion. (Thu, 15 Feb 2007 21:48:48 GMT)

Bankruptcy Judge Approves $145 Million in Fees for Lawyers, Advisers in Delphi Case
A New York federal bankruptcy judge on Thursday approved $145 million in fees for about 30 law firms, financial advisers and others for the first year of the restructuring of auto parts supplier Delphi Corp. Among the advisers for the former General Motors subsidiary, the biggest bill comes from Skadden, Arps, Slate, Meagher & Flom, which recorded fees and expenses of $32.79 million for the year. (Fri, 16 Feb 2007 05:10:14 GMT)

A Viable Alternative to Bankruptcy
(ARA) - If you're carrying thousands of dollars in credit card debt, struggling to pay the rent every month and getting calls from collections agencies, you might be considering bankruptcy. Yet for almost all circumstances, a good financial advisor will tell you that's the last thing you should do. (Fri, 16 Feb 2007 06:20:15 GMT)

NWA projects $7B value after bankruptcy
MINNEAPOLIS Northwest Airlines says it expects to be worth about seven (m) billion dollars when it emerges from bankruptcy later this year. (Fri, 16 Feb 2007 07:17:45 GMT)

Northwest expects to be worth $7B when it taxis out of bankruptcy
MINNEAPOLIS - Northwest Airlines Corp. said Thursday it expects to be worth roughly $7 billion when it emerges from bankruptcy later this year, and will pay its unsecured creditors roughly three-quarters of what they are owed. Continental Airlines Inc., the next-largest airline, is worth about $4 billion based on Thursday's stock valuation. (Fri, 16 Feb 2007 07:27:40 GMT)

Northwest to be worth $7b after bankruptcy
Northwest Airlines Corp. said yesterday it expects to be worth roughly $7 billion when it emerges from bankruptcy this year, and will pay its unsecured creditors roughly three-quarters of what they are owed. (Fri, 16 Feb 2007 09:07:55 GMT)

South West tops bankruptcy league
Torquay tops the bankruptcy table, with five other hotspots in the South West, according to research. (Fri, 16 Feb 2007 14:59:11 GMT)

Bankruptcy judge approves sale of Air America Radio
A federal bankruptcy judge approved on Friday the sale of the liberal talk radio network Air America Radio for $4.25 million to Stephen L. Green, founder of a New York real estate firm (Fri, 16 Feb 2007 17:30:44 GMT)

Bankruptcy judge approves Air America Radio sale
A U.S. bankruptcy judge on Friday approved the sale of Air America, the politically liberal talk-radio network launched by comedian Al Franken, to an investment group led by New York real estate mogul Stephen L. Green for $4.28 million. (Fri, 16 Feb 2007 19:39:18 GMT)

Bankruptcy judge approves sale of Air America Radio to founder of SL Green Realty
NEW YORK - A federal bankruptcy judge on Friday approved the sale of the liberal talk radio network Air America Radio for $4.25 million to Stephen L. Green, founder of a New York real estate firm. Green... (Fri, 16 Feb 2007 21:22:11 GMT)

W.Va. Gas Utility Files Bankruptcy
The fight for control of three troubled Clay County natural gas utilities is moving to U.S. Bankruptcy Court. The state Public Service Commission convinced Clay County Circuit Judge Richard Facemire to take away control of Valley, Beechy and Wagner gas companies from Pennsylvania businessman John Habjan on Friday. (Fri, 16 Feb 2007 22:19:43 GMT)

Bankruptcy judge approves sale of Air America Radio
NEW YORK — A federal bankruptcy judge on Friday approved the sale of the liberal talk radio network Air America Radio for $4.25 million to Stephen L. Green, founder of a New York real estate firm. (Sat, 17 Feb 2007 06:08:05 GMT)

Mingo County Ambulance Service Files Bankruptcy
Friday, February 16, 2007 4:07 PM CST CHARLESTON - Mingo County's current ambulance service provider has filed for Chapter 11 bankruptcy protection. (Sat, 17 Feb 2007 06:43:01 GMT)

NWE execs: Bonuses survived bankruptcy
The jury in a civil trial brought by a group of Montana Power Co. retirees heard videotaped testimony Friday from past and present NorthWestern Energy executives who said they continued to receive healthy bonuses after the company went through bankruptcy. (Sat, 17 Feb 2007 08:43:23 GMT)

Three George's Candy Shop files for bankruptcy
Three George's Candy Shop, a Mobile landmark that sells candy, peanuts and Mardi Gras king cakes, filed for bankruptcy protection this week. (Sat, 17 Feb 2007 10:43:28 GMT)

A Viable Alternative to Bankruptcy
(ARA) - If you're carrying thousands of dollars in credit card debt, struggling to pay the rent every month and getting calls from collections agencies, you might be considering bankruptcy. Yet for almost all circumstances, a good financial advisor will tell you that's the last thing you should do. (Sat, 17 Feb 2007 12:03:04 GMT)

NWE execs: Bonuses survived bankruptcy
The jury in a civil trial brought by a group of Montana Power Co. retirees heard videotaped testimony Friday from past and present NorthWestern Energy executives who said they continued to receive healthy bonuses after the company went through bankruptcy. (Sat, 17 Feb 2007 12:43:21 GMT)

Bankruptcy or IVA? With creditors at the door, take the right escape route
Almost 30,000 people in the UK entered into bankruptcy or an individual voluntary arrangement (IVA) during the last three months of last year - nearly 300 a day. (Sun, 18 Feb 2007 00:20:33 GMT)

A Viable Alternative to Bankruptcy
(ARA) - If you're carrying thousands of dollars in credit card debt, struggling to pay the rent every month and getting calls from collections agencies, you might be considering bankruptcy. Yet for almost all circumstances, a good financial advisor will tell you that's the last thing you should do. (Sun, 18 Feb 2007 06:55:10 GMT)

Lawyers ready for a boom in bankruptcy
Experts in field believe business cycle will soon yield a surge in defaults Business bankruptcy filings are down by 45 percent and corporate debt default rates remain near all-time lows. Yet bankruptcy pros are buzzing with anticipation. (Sun, 18 Feb 2007 11:46:34 GMT)

Northwest Airlines Heals From Bankruptcy
One of the airlines that flies into Ozarks says its future is looking a lot brighter tonight. As it emerges from bankruptcy, Northwest Airlines says the next four years will be profitable. (Mon, 19 Feb 2007 01:20:21 GMT)

S.D. Diocese could face bankruptcy
SAN DIEGO (CNS) - The Roman Catholic Diocese of San Diego may be forced to file bankruptcy rather than pay up 200 million in claims stemming from lawsuits alleging sexual abuse by priests. (Mon, 19 Feb 2007 04:56:19 GMT)

San Diego Diocese Considers Bankruptcy
San Diego Diocese Considers Filing Bankruptcy to Seek Protection in Clergy Sex Abuse Scandal (Mon, 19 Feb 2007 06:18:59 GMT)

Diocese Of San Diego Considers Bankruptcy
In a letter to parishioners this weekend, the Roman Catholic Diocese of San Diego said it's considering declaring bankruptcy to avoid going to trial on over 150 lawsuits alleging sexual abuse by priests. (Mon, 19 Feb 2007 06:34:00 GMT)

Bankruptcy Survey Highlights Lack of Awareness
Debt help experts The Debt Counsellors are concerned that many people with debt problems are unaware of the serious nature of bankruptcy, following analysis of The Debt Counsellors Annual UK Debt Survey 2007 (Mon, 19 Feb 2007 07:01:00 GMT)

Bankruptcy Survey Highlights Lack of Awareness
Debt help experts The Debt Counsellors are concerned that many people with debt problems are unaware of the serious nature of bankruptcy, following analysis of The Debt Counsellors Annual UK Debt Survey 2007 (PRWeb Feb 19, 2007) Post Comment:Trackback URL: http://www.prweb.com/chachingpr. (Mon, 19 Feb 2007 08:12:15 GMT)

San Diego Diocese considers bankruptcy
The Roman Catholic Diocese of San Diego said in a letter to parishioners this weekend that it is considering declaring bankruptcy to avoid going to trial on more than 140 lawsuits alleging sexual abuse by priests. (Mon, 19 Feb 2007 09:30:37 GMT)

San Diego diocese faces bankruptcy
The Catholic Diocese of San Diego has said in a letter to parishioners that it is considering declaring for bankruptcy. The diocese is the subject of more than 140 lawsuits alleging sexual abuse by priests. (Mon, 19 Feb 2007 09:44:09 GMT)

Catholic diocese weighs bankruptcy
Infusion of sand worries surfers K.C. ALFRED / Union-Trobune Surfers such as David Thomas (left) and Serge Dedina are concerned that Imperial Beach's sand replenishment project could drastically alter waves and affect marine life. The city says no one has been excluded from commenting on the project. (Mon, 19 Feb 2007 10:34:30 GMT)

California: Diocese Considers Bankruptcy
The Roman Catholic Diocese of San Diego said in a letter to parishioners this weekend that it was considering declaring bankruptcy to avoid going to trial on more than 140 lawsuits accusing priests of sexual abuse. The pastoral statement, signed by Bishop Robert Brom, said the diocese was concerned that settlements might ?cripple the ability of the church to accomplish its mission and ... (Tue, 20 Feb 2007 03:48:26 GMT)

Lawyer says San Diego diocese's bankruptcy threat is a ploy
An attorney representing people who claim they were abused by priests sharply criticized the Catholic Diocese of San Diego Monday, saying its threat to file for bankruptcy was an attempt to suppress full disclosure of the sex abuse scandal. (Tue, 20 Feb 2007 05:32:05 GMT)

Diocese's bankruptcy threat upsets abuse victims in San Diego
San Diego's Catholic churches may file in face of lawsuits over alleged sexual abuse by priests. Critics call it an attempt to avoid disclosures. SAN DIEGO — A threat by the Roman Catholic diocese to file for bankruptcy in the face of lawsuits by people alleging they were sexually abused by priests is an attempt to prevent disclosure about the diocese covering up for such priests, an attorney ... (Tue, 20 Feb 2007 05:42:11 GMT)

Diocese of San Diego Considers Bankruptcy
The Diocese is threatening to file for Chapter 11 Bankruptcy just days before the first lawsuit alleging sexual abuse by a priest goes to trial. (Tue, 20 Feb 2007 06:29:14 GMT)

S.D. Diocese could face bankruptcy
SAN DIEGO (CNS) - The Roman Catholic Diocese of San Diego may be forced to file bankruptcy rather than pay up 200 million in claims stemming from lawsuits alleging sexual abuse by priests. (Tue, 20 Feb 2007 06:41:18 GMT)

San Diego Diocese's possible bankruptcy declaration decried
Victims' advocates lambasted a weekend announcement that the Roman Catholic Diocese of San Diego is considering declaring bankruptcy to avoid trial in almost 145 pending clergy sexual abuse lawsuits, some of which also name the San Bernardino Diocese. (Tue, 20 Feb 2007 07:04:28 GMT)

Lawyer calls San Diego diocese's bankruptcy threat a ploy
Bishop announced possibility of bankruptcy in Sunday letter to parishioners. (Tue, 20 Feb 2007 07:42:42 GMT)

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