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Home > Bankruptcy News

Bankruptcy News Apr 2007

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Firm in heating-oil spill files bankruptcy papers
An Akron gas company that ran afoul of the Ohio Environmental Protection Agency and faces a civil lawsuit for mistakenly dumping heating oil into a homeowner's basement has filed for bankruptcy protection. (Sun, 01 Apr 2007 05:06:29 GMT)

How another's bankruptcy can hurt you
At the end of last year, my distributor went into bankruptcy. Since then, I've learned a lot about the effects of others' bankruptcies on small companies. (Sun, 01 Apr 2007 09:30:18 GMT)

New judge eases bankruptcy load
Addition of jurist for Syracuse area is expected to reduce the cases handled by the Albany office (Sun, 01 Apr 2007 10:54:53 GMT)

Blackwell files for bankruptcy
GRAHAM — A local businessman filed for bankruptcy protection on the same day four of his properties were scheduled to be auctioned. Faiger M. Blackwell filed a petition for bankruptcy under Chapter 11 in the U.S. Bankruptcy Court in Greensboro on Wednesday morning. (Mon, 02 Apr 2007 06:13:16 GMT)

Bankruptcies
These were recently filed in U.S. Bankruptcy Court for the Southern District of Florida. (Mon, 02 Apr 2007 07:19:06 GMT)

New Century files for Chapter 11 bankruptcy
New Century Financial Corp. said Monday it will immediately cut 3,200 jobs, or 54 percent of its work force, as part of its Chapter 11 bankruptcy reorganization. (Mon, 02 Apr 2007 15:28:55 GMT)

Huge Mortgage Lender Files for Bankruptcy
New Century Financial, a lender that came to symbolize the fast-and-loose mortgage practices of recent years, filed for bankruptcy protection yesterday and said it would lay off 3,200 employees, more than half its workforce. (Mon, 02 Apr 2007 16:20:48 GMT)

Big subprime lender New Century seeks bankruptcy
Mortgage lending group New Century Financial Corp. said Monday it was seeking bankruptcy protection following the maelstrom in the so-called subprime segment of the US housing market. (Mon, 02 Apr 2007 16:47:02 GMT)

New Century files for Chapter 11 bankruptcy
NEW YORK (Reuters) - New Century Financial Corp. filed for bankruptcy protection on Monday amid a surge in homeowner defaults, the biggest mortgage lender to collapse in the slumping U.S. housing market. (Mon, 02 Apr 2007 18:59:31 GMT)

New Century files for Chapter 11 bankruptcy
New Century Financial Corp. filed for bankruptcy protection on Monday amid a surge in homeowner defaults, the biggest mortgage lender to collapse in the slumping U.S. housing market. (Mon, 02 Apr 2007 21:21:53 GMT)

Major home lender files for bankruptcy
New Century Financial Corp., once the nation's second-largest provider of home loans to high-risk borrowers, filed for bankruptcy protection on Monday, the victim of its own financial missteps as well as pressures felt by its rival lenders. (Mon, 02 Apr 2007 22:18:59 GMT)

Mortgage lender begins bankruptcy process
New Century Financial, once the largest independent maker of mortgages to high-risk borrowers, sank into bankruptcy proceedings Monday... (Tue, 03 Apr 2007 07:18:11 GMT)

New Century files for bankruptcy amid crisis over risky mortgages
LOS ANGELES New Century Financial Corp., once the nation's second-biggest provider of higher-risk mortgages, filed for Chapter 11 bankruptcy protection Monday and fired 3,200 workers -- more than half its work force. (Tue, 03 Apr 2007 07:18:28 GMT)

Subprime lender New Century files for bankruptcy
Subprime lender New Century Financial Corp., once the nation's second-largest provider of mortgages to high-risk borrowers, filed Monday for bankruptcy protection and immediately fired 3,200 workers, or 54 percent of its workforce. (Tue, 03 Apr 2007 07:22:01 GMT)

Big subprime lender files for bankruptcy aid
New Century Financial Corp. yesterday became the largest company in the troubled subprime mortgage industry to file for bankruptcy protection amid growing delinquencies by borrowers. (Tue, 03 Apr 2007 09:21:21 GMT)

Big Subprime Lender Files for Bankruptcy
Subprime mortgage giant New Century Financial Group has filed for bankruptcy. The company loaned tens of billions of dollars to people with weak credit. When the housing market went flat those homeowners couldn't pay their mortgages. (Tue, 03 Apr 2007 13:32:45 GMT)

Subprime Lender Files For Bankruptcy
New Century Financial files for bankruptcy protection and fires more than half its workforce. (Tue, 03 Apr 2007 20:42:44 GMT)

Lender Files For Bankruptcy, Fires 3,200
Subprime lender New Century files for bankruptcy and fires 3,200 employees. (Tue, 03 Apr 2007 20:47:36 GMT)

Pitcher in middle of bankruptcy suit
MANCHESTER – A business dispute with between a Hollis man and Detroit Tigers pitcher Kenny Rogers has landed in the state's bankruptcy court. David Castelhano, of 49 W. Hollis Road, Hollis, filed for bankruptcy in October 2005, U.S. Bankruptcy Court records show. ... - By ANDREW WOLFE Telegraph Staff (Wed, 04 Apr 2007 06:11:15 GMT)

Judge pulls plug on challenge to Adelphia bankruptcy payouts
Adelphia Communications Corp. bondholders, including Banc of America Corp., lost their latest challenge to the company's $17 billion bankruptcy payment plan after a judge ruled it had already been "substantially consummated." (Wed, 04 Apr 2007 07:23:32 GMT)

Major subprime mortgage lender files for bankruptcy, fires 3,200 workers
LOS ANGELES (AP) -- Subprime lender New Century Financial Corp., once the nation's second-largest provider of mortgages to high-risk borrowers, filed Monday for bankruptcy protection and immediately fired 3,200 workers, or 54 percent of its work force. (Wed, 04 Apr 2007 08:54:25 GMT)

New Century To Get Interim Approval For Bankruptcy Finance Package
Judge Kevin Carey, who is overseeing New Century Financial Corp.'s bankruptcy filing is granting interim approval for a finance package, which will hopefully preserve the value of the company's business. (Wed, 04 Apr 2007 12:32:50 GMT)

Bankruptcy Filings Surged in Q1
Spurred by a sputtering U.S. economy, bankruptcy filings are on the rise in 2007, an increase analysts predict will continue. (Wed, 04 Apr 2007 21:22:48 GMT)

There are even more ways that another's bankruptcy hurts you
At the end of last year, my distributor went into bankruptcy. Since then, I've learned a lot about the effects of others' bankruptcies on small companies. (Thu, 05 Apr 2007 06:03:58 GMT)

Many layers to New Century bankruptcy
The Irvine subprime lender, which also cut 3,200 jobs, hopes to auction assets. (Thu, 05 Apr 2007 08:50:41 GMT)

Bankruptcy filings surged in first quarter of 2007
Bankruptcy filings are on the rise in 2007, an increase analysts predict will continue. (Thu, 05 Apr 2007 09:19:47 GMT)

Tower Automotive retains Chicago employees despite impending bankruptcy
Tower Automotive Inc. will retain all 458 employees at its Southeast Side plant, despite an announcement last month that the company will file a bankruptcy reorganization plan by April 20, a company representative said on Tuesday. (Thu, 05 Apr 2007 09:45:36 GMT)

New Century granted $150 mln bankruptcy financing
New Century Financial Corp. , the largest U.S. subprime lender under bankruptcy protection, was on Thursday authorized to obtain up to $150 million of financing to keep it operating while in Chapter 11. (Thu, 05 Apr 2007 18:07:11 GMT)

New Century granted $150 mln bankruptcy financing
NEW YORK (Reuters) - New Century Financial Corp. (NEWC.PK), the largest U.S. subprime lender now under bankruptcy protection, was authorized on Thursday to obtain up to $150 million of financing to keep operating under Chapter 11. (Thu, 05 Apr 2007 19:28:45 GMT)

Examiner Named in Northwest Bankruptcy
An investment banker was appointed on Thursday to examine the details of the Northwest Airlines bankruptcy case, in response to a request from an ad hoc committee of shareholders who claim the airline is worth more than it says it is. (Thu, 05 Apr 2007 21:23:54 GMT)

Court names NWA bankruptcy examiner
A bankruptcy judge on Thursday appointed a New York investment bank to examine Northwest Airlines Corp.'s bankruptcy case after a group of shareholders claimed the company is worth more than it claims, the Associated Press reports. (Thu, 05 Apr 2007 22:13:52 GMT)

Sebastopol's Palm Drive Hospital to file for bankruptcy
The board of directors for Palm Drive Hospital voted unanimously Wednesday to seek bankruptcy protection while the cash-strapped facility develops a plan to restructure about $3 million in debt. (Thu, 05 Apr 2007 23:22:36 GMT)

Bankruptcy filings surging
Because of a sputtering U.S. economy, bankruptcy filings are on the rise in 2007, and analysts predict it will continue. (Fri, 06 Apr 2007 01:08:26 GMT)

Timeline set for objections to Marion’s bankruptcy case
The city of Meridian has until May 9 to object in U.S. Bankruptcy Court for the Southern District of Mississippi to the town of Marion’s petition for Chapter 9 bankruptcy protection. (Fri, 06 Apr 2007 04:30:12 GMT)

Tower Automotive retains employees despite bankruptcy woes
CHICAGO | Tower Automotive Inc. will retain all 458 employees at its Chicago plant, despite recently announcing it will file a bankruptcy reorganization plan by April 20, a company representative said Tuesday. (Fri, 06 Apr 2007 05:57:13 GMT)

California monitoring Pleasant Care facilities after bankruptcy
Health inspectors have been monitoring facilities owned by the state's second-largest nursing home chain to ensure they stay open and care for patients as they go through bankruptcy proceedings. (Fri, 06 Apr 2007 06:07:46 GMT)

Airport vendor $1 million in debt: Firm run by mayor's ex-husband faces bankruptcy court deadline
A high-profile vendor at Atlanta's Hartsfield-Jackson International Airport must tell a court next week how it plans to pay off nearly $1.3 million in debt, including thousands in unpaid taxes and fees to the state, city and federal governments. Franklin and Wilson Airport Concessions, owned by David Franklin and Ron Wilson, declared bankruptcy just two weeks after state officials issued a lien ... (Fri, 06 Apr 2007 09:10:38 GMT)

Court names NWA bankruptcy examiner
A bankruptcy judge on Thursday appointed a New York investment bank to examine Northwest Airlines Corp.'s bankruptcy case after a group of shareholders claimed the company is worth more than it claims, the Associated Press reports. (Fri, 06 Apr 2007 15:07:56 GMT)

Judge OKs Citation' Bankruptcy Plan
Less than a month after filing for Chapter 11 protection, Citation Corp. is on its way out of bankruptcy after a federal judge confirmed the auto-parts maker's reorganization plan. (Fri, 06 Apr 2007 16:23:09 GMT)

Strategies: Surviving another's bankruptcy
Dec. 29 was not a good day. That's the day my distributor declared bankruptcy. (Fri, 06 Apr 2007 18:43:19 GMT)

Marilyn Miglin to seek end to short-lived bankruptcy
(Crain's) -- Marilyn Miglin will ask to have her Chapter 11 bankruptcy petition dismissed eight days after filing for court protection. The request for dismissal, to be filed shortly, was precipitated by a settlement reached late Thursday regarding a multi-million-dollar lawsuit that involved ... (Fri, 06 Apr 2007 21:30:40 GMT)

Report: Diocese Gave $$ Away Before Bankruptcy Filing
The Roman Catholic Diocese of San Diego gave at least $1.5 million to individual parishes and schools before filing for bankruptcy, according to a published report. (Fri, 06 Apr 2007 22:09:13 GMT)

KDHE secretary, wife file for bankruptcy
Rod Bremby, who oversees an annual budget of nearly $216 million as a state Cabinet secretary, filed this week for personal Chapter 13 bankruptcy protection along with his wife, physician April Bremby. (Sat, 07 Apr 2007 05:09:58 GMT)

Bankruptcy protection is sought by Paper Zone
Paper Zone has filed for Chapter 11 bankruptcy protection as it reorganizes to reflect its original format. The specialty-paper retailer plans... (Sat, 07 Apr 2007 07:14:39 GMT)

Miglin reaches deal on lawsuit Settlement likely to avoid bankruptcy
Chicago cosmetics queen Marilyn Miglin reached a settlement of a lawsuit in Las Vegas that had forced her to file for bankruptcy protection from creditors last week, her attorney said Friday. (Sat, 07 Apr 2007 10:32:08 GMT)

Bankruptcy court OKs Hancock plan to close stores, hold sales
BALDWYN – A federal bankruptcy judge in Delaware has approved Hancock Fabrics’ plan to close 134 stores across the county. U.S. Bankruptcy Judge Brenden L. Shannon signed an order Thursday that will allow the going-out-of-business sales to begin immediately. (Sat, 07 Apr 2007 19:43:35 GMT)

Bankruptcy court OKs Hancock plan to close stores, hold sales
A federal bankruptcy judge in Delaware has approved Hancock Fabrics' plan to close 134 stores across the county. (Sat, 07 Apr 2007 21:17:13 GMT)

First for company came textiles, then grills ... now, bankruptcy
SANFORD - A venerable Sanford manufacturing company has laid off its remaining 55 employees as the firm liquidates its operations in bankruptcy proceedings. (Mon, 09 Apr 2007 05:53:33 GMT)

Koala declares bankruptcy
Koala Corp., known for making diaper-changing stations for public restrooms, has filed for bankruptcy protection. (Mon, 09 Apr 2007 06:16:19 GMT)

A slow-motion power struggle
As Asarco asks a bankruptcy judge for a sixth extension for submitting a reorganization plan, its parent company moves to take back control. WASHINGTON - Asarco's Mexican owner is maneuvering to regain control of the 100-year-old mining and smelting company, promising to pay "in full" roughly $6 billion worth of environmental claims in the process. (Mon, 09 Apr 2007 08:46:28 GMT)

Mixed blame in mortgage bankruptcy case
HARTFORD, CT (2007-04-09) The former chief executive of bankrupt Mortgage Lenders Network, Mitchell Heffernan, has blamed his financial advisers for the non-payment of millions of dollars in commissions to sales staff. (Mon, 09 Apr 2007 11:28:50 GMT)

CCI files for bankruptcy, Coast home loans part of default
MANATEE - A homebuilder that left millions of loans issued through Coast Bank of Florida in limbo has filed for bankruptcy. (Mon, 09 Apr 2007 16:22:06 GMT)

New Century Loan Sale Opposed by Bankruptcy Trustee (Update4)
April 9 (Bloomberg) -- New Century Financial Corp., the largest subprime lender in bankruptcy, shouldn't be allowed to sell $50 million worth of mortgages to a Royal Bank of Scotland Group PLC subsidiary, the U.S. trustee said in court papers. (Mon, 09 Apr 2007 22:11:47 GMT)

Victims group addresses archdiocese bankruptcy plan
On the eve of what could be the final hearing for approving a bankruptcy reorganization plan for the Roman Catholic Archdiocese of Portland, a victims' rights group protested a gag order by two judges who presided over the settlement leading to the plan. (Tue, 10 Apr 2007 02:00:14 GMT)

Bankruptcy Trustee Opposes New Century?s Sale of Mortgages
New Century Financial should not be allowed to sell $50 million worth of mortgages to a subsidiary of the Royal Bank of Scotland, a U.S. trustee said. (Tue, 10 Apr 2007 03:27:16 GMT)

Mesaba wins court OK of bankruptcy-exit plan
Mesaba Airlines won permission from U.S. Bankruptcy Judge Gregory Kishel in Minneapolis to pay off its creditors in full and exit bankruptcy by the end of the month as a regional subsidiary of Northwest Airlines. Company spokeswoman Elizabeth Costello said in an interview that the company is "clearly in the final stage." Under its exit plan, creditors would be paid in full plus interest, while ... (Tue, 10 Apr 2007 05:16:44 GMT)

Mesaba bankruptcy exit OK'd
U.S. Bankruptcy Judge Gregory Kishel approved Mesaba Airlines' reorganization plan Monday, clearing the regional carrier to exit bankruptcy during the last week of April. Kishel, who grew up on Minnesota's Iron Range, said that he watched the toll on employees who lost their jobs when the steel industry declined and that he did not want to see Mesaba "go down on my watch." Mesaba employs about ... (Tue, 10 Apr 2007 06:15:06 GMT)

CCI files for Chapter 11 bankruptcy
The Coast Bank loan saga has entered yet another legal venue: federal bankruptcy court. (Tue, 10 Apr 2007 07:07:44 GMT)

Judge warns San Diego Diocese of contempt in bankruptcy case
The federal jurist says lawyers and priests apparently lied to parishes about the court's orders. SAN DIEGO — A federal bankruptcy judge on Monday ordered three lawyers and two priests from the local Catholic diocese to explain why they should not be held in contempt for allegedly moving to transfer money as well as other actions that were prohibited while the diocese's bankruptcy case is ... (Tue, 10 Apr 2007 07:19:50 GMT)

Kara Homes buyers lose deposits in court bankruptcy-sale decision
TRENTON — Several prospective Kara Homes Inc. homebuyers all but lost their deposits Monday after a bankruptcy court judge approved the sale of six uncompleted developments to developers and a bank. (Tue, 10 Apr 2007 08:34:53 GMT)

Mesaba bankruptcy plan approved
A U.S. bankruptcy judge in Minneapolis granted regional carrier Mesaba Airlines permission to exit Chapter 11 bankruptcy on Monday. (Tue, 10 Apr 2007 17:08:47 GMT)

Mesaba to exit bankruptcy by end of April
SAN FRANCISCO -- Mesaba Airlines, a subsidiary of MAIR Holdings Inc., said a bankruptcy court confirmed the airline's plan of reorganization. (Tue, 10 Apr 2007 18:34:22 GMT)

Save Our Springs files for bankruptcy protection
The Save Our Springs Alliance has filed for Chapter 11 bankruptcy protection in federal court in Austin. (Tue, 10 Apr 2007 20:37:02 GMT)

Save our Springs files for bankruptcy
One of the most powerful environmental groups in Central Texas has filed for bankruptcy Tuesday. Save Our Springs Alliance filed for Chapter 13 protection from a $300,000 judgment against it in a lawsuit with the Lazy Nine Municipal Utility District. (Wed, 11 Apr 2007 00:24:41 GMT)

Guides provide advice on filing for bankruptcy
Declaring bankruptcy is not an easy choice. But for individuals in dire financial straits, it can prove a welcome option. There are different types of bankruptcy. For instance, Chapter 7 bankruptcy is designed for individuals, while Chapter 11 deals with businesses. (Wed, 11 Apr 2007 02:41:19 GMT)

Judge Considers Archdiocese Bankruptcy Plan
PORTLAND, Ore. -- The judge overseeing the first bankruptcy in the nation filed by a Roman Catholic diocese said Tuesday she expects to decide whether to approve the plan by the end of the week. (Wed, 11 Apr 2007 04:01:20 GMT)

Firm works through bankruptcy
A Lawrence-based signs company is reorganizing under protection from the U.S. Bankruptcy Court. (Wed, 11 Apr 2007 05:11:34 GMT)

Rockaway Bedding seeks bankruptcy protection
New Jersey-based Rockaway Bedding Inc. has asked the federal bankruptcy court in Newark for protection from creditors as it reorganizes its finances. (Wed, 11 Apr 2007 06:40:39 GMT)

CCI files for bankruptcy, Coast home loans part of default
MANATEE - A homebuilder that left millions of loans issued through Coast Bank of Florida in limbo has filed for bankruptcy. (Wed, 11 Apr 2007 07:23:17 GMT)

Water authority contests Pittsburgh Brewing bankruptcy plan
PITTSBURGH The Pittsburgh Water-and-Sewer Authority is fighting a bankruptcy plan that would keep Pittsburgh Brewing Company open. (Wed, 11 Apr 2007 11:11:59 GMT)

Bankruptcy Doesn't Avert Foreclosures
More financially stretched borrowers are realizing even declaring bankruptcy can't save their homes from foreclosure. Take, for example, Bernice and Harlan King in Cleveland. The couple, saddled with about $30,000 in credit-card and other debts and behind on their $1,650 monthly mortgage payments, filed Chapter 13 late last year to prevent their mortgage lender from repossessing their house. (Wed, 11 Apr 2007 17:35:40 GMT)

Bankruptcy Judge Teaches Credit Skills
NEW YORK -- A bankruptcy judge who has tired of seeing people burdened with credit card debt in his courtroom has decided to do more than help them untangle their finances. (Wed, 11 Apr 2007 19:37:20 GMT)

City's Water-Sewer Authority Fighting Pittsburgh Brewing Bankruptcy Plan
The Pittsburgh Water and Sewer Authority is fighting a bankruptcy plan that would keep Pittsburgh Brewing open. (Wed, 11 Apr 2007 20:14:33 GMT)

Bankruptcy may not save home
NEW YORK — More financially stretched borrowers are realizing even declaring bankruptcy can’t save their homes from foreclosure. Take, for example, Bernice and Harlan King in Cleveland. (Thu, 12 Apr 2007 05:06:12 GMT)

Northwest gets new bankruptcy examiner
An examiner appointed to evaluate Northwest Airlines' net worth in its bankruptcy case has been replaced less than a week after being approved by the bankruptcy court. Investment banker Harvey Tepner resigned on Friday, one day after being approved by the bankruptcy court, according to court documents filed Wednesday. No reason was provided for his resignation. Bankruptcy Court Judge Allan ... (Thu, 12 Apr 2007 05:17:28 GMT)

Utah bankruptcy filings rise for the 3rd straight month
Bankruptcy filings in Utah have grown for the third consecutive month, according to statistics released Wednesday by U.S. Bankruptcy Court. (Thu, 12 Apr 2007 06:26:03 GMT)

San Diego diocese faces bankruptcy audit
SAN DIEGO — A federal bankruptcy judge Wednesday ordered an external audit of the Roman Catholic Diocese of San Diego, chastising church lawyers for a lack of transparency in court filings. (Thu, 12 Apr 2007 07:11:10 GMT)

Homeowners find bankruptcy fails to prevent foreclosure
More financially stretched borrowers are realizing that even declaring bankruptcy can't save their homes from foreclosure. (Thu, 12 Apr 2007 07:11:47 GMT)

Taiwan fixed-line telecom carrier APBT requests bankruptcy ruling against 68 Rebar group paper firms
Asia Pacific Broadband Telecom (APBT), one of the three new operators of fixed-line telecommunication services in Taiwan, on April 11, requested that courts judge for the bankruptcy of 68 paper companies which were established by the Rebar Asia Pacific Group and have financial relations with APBT, in an attempt to protect its creditor rights, according to APBT chairman Chun-tien Lai. (Thu, 12 Apr 2007 09:53:17 GMT)

Bankruptcy Judge Orders External Audit Of San Diego Diocese Accounts
San Diego (AP) - A federal bankruptcy judge Wednesday ordered an external audit of the Roman Catholic Diocese of San Diego amid accusations church leaders ... (Thu, 12 Apr 2007 10:47:58 GMT)

Groups call for bankruptcy fix to aid pinched subprime borrowers
WASHINGTON (MarketWatch) -- Consumer groups called Thursday for Congress to enact bankruptcy-law reform to save the homes of borrowers drowning in the rising tide of subprime mortgage foreclosures and stem the loss up to $164 billion in home-based wealth. (Thu, 12 Apr 2007 17:07:38 GMT)

Groups say bankruptcy reform needed to protect U.S. homeowners
As the U.S. housing slump worsens, Congress needs to make it easier for families facing foreclosure to file for bankruptcy and keep their homes, consumer groups and a bankruptcy lawyers' organization said Thursday. (Thu, 12 Apr 2007 17:54:58 GMT)

Delta Pilots Sell Bankruptcy Claim
More than 91 percent of eligible Delta Air Lines Inc. pilots have opted to sell their portion of a $2.1 billion unsecured bankruptcy claim the carrier had given them as part of pay cut talks last year, the union said Thursday. (Thu, 12 Apr 2007 18:50:18 GMT)

Van Dyck owner declares bankruptcy
The owner of the closed Van Dyck Brewery and Restaurant in Schenectady has filed for bankruptcy. (Thu, 12 Apr 2007 18:59:47 GMT)

Mortgage lender SouthStar in Chapter 7 bankruptcy
NEW YORK, April 12 (Reuters) - SouthStar Funding LLC, a mortgage lender that earlier this month said it stopped making home loans, has filed for Chapter 7 bankruptcy protection, meaning it plans to liquidate. (Thu, 12 Apr 2007 21:02:27 GMT)

Groups Want Bankruptcy, Mortgage Reform
As the housing slump worsens, Congress needs to make it easier for families facing foreclosure to file for bankruptcy and keep their homes, consumer groups and a bankruptcy lawyers' organization said Thursday. (Thu, 12 Apr 2007 22:22:10 GMT)

Defendant's bankruptcy filing delays Linden trial
LINDEN — The civil lawsuit against two of the men involved in the 2003 beating of a mentally handicapped Linden man was stalled for at least a day Thursday, after Christopher Colt Amox — one of the defendants — filed for Chapter 7 bankruptcy protection the day before, essentially excluding him from the trial. (Fri, 13 Apr 2007 04:23:40 GMT)

Most Delta pilots opt to sell bankruptcy claim
More than 91 percent of eligible Delta Air Lines Inc. pilots have opted to sell their portion of a $2.1 billion unsecured bankruptcy claim the carrier had given them as part of pay cut talks last year, the union said Thursday. The amount of cash each participating pilot will receive after the Atlanta-based airline exits Chapter 11 on April 30 will vary. But the average payout would be about ... (Fri, 13 Apr 2007 05:17:07 GMT)

Congress urged to protect homes from bankruptcy
As the housing slump worsens, Congress needs to make it easier for families facing foreclosure to file for bankruptcy and keep their homes, consumer groups and a bankruptcy lawyers (Fri, 13 Apr 2007 07:07:21 GMT)

Bankruptcy filings up in Utah
SALT LAKE CITY -- Bankruptcy filings in Utah have increased for the third consecutive month, according to statistics from U.S. Bankruptcy Court. The court saw 593 filings in March, up from 368 in January and 400 in February. (Fri, 13 Apr 2007 08:13:50 GMT)

Iusacell's Debt Workout Plan Is Approved by Bankruptcy Court
April 13 (Bloomberg) -- Grupo Iusacell SA, Mexico's second- biggest mobile telephone company, said a Mexican bankruptcy court approved a debt workout plan with creditors. (Fri, 13 Apr 2007 14:42:52 GMT)

Deal in Portland Archdiocese bankruptcy
A judge overseeing the bankruptcy filing of the Archdiocese of Portland will confirm a proposed $75-million deal for current and future sex abuse claims against priests and other church officials, according to court documents filed Friday. (Fri, 13 Apr 2007 18:41:58 GMT)

Deal in Portland Archdiocese bankruptcy
PORTLAND, Ore. A judge overseeing the bankruptcy filing of the Archdiocese of Portland will confirm a proposed $75-million deal for current and future sex abuse claims against priests and other church officials, according to court documents filed Friday. (Fri, 13 Apr 2007 19:01:20 GMT)

Oregon archdiocese ends bankruptcy with abuse deal
The Roman Catholic Archdiocese of Portland formally emerged from bankruptcy on Friday with a $75 million settlement plan after 2-1/2 years of court wrangling over how to pay victims of alleged sex abuse by priests. (Fri, 13 Apr 2007 20:16:14 GMT)

SouthStar to liquidate in bankruptcy
Subprime mortgage lender SouthStar Funding LLC filed for Chapter 7 bankruptcy and will sell off what's left of its remaining assets before going out of business. (Fri, 13 Apr 2007 20:31:52 GMT)

Bankruptcy filing puts auction of Simpson book rights on hold
An auction for the rights to the canceled O.J. Simpson book "If I Did It" was put on hold after the company that struck the book deal with HarperCollins filed for bankruptcy Friday. (Fri, 13 Apr 2007 22:52:46 GMT)

Bankruptcy judge lets stand NWA pay cuts to flight attendants
A federal bankruptcy judge denied requests by Northwest Airlines flight attendants to reverse company-imposed pay cuts and award compensation for their lost wages. (Fri, 13 Apr 2007 23:47:36 GMT)

Bankruptcy filing puts auction of Simpson book rights on hold
LOS ANGELES An auction for the rights to the canceled O.J. Simpson book "If I Did It" is on hold for now. The company that struck the book deal with HarperCollins filed for bankruptcy today. (Sat, 14 Apr 2007 00:26:21 GMT)

Company's bankruptcy halts auction for rights to Simpson book
LOS ANGELES (AP) - An auction for the rights to the cancelled O.J. Simpson book "If I Did It" was put on hold after the company that struck the book deal with HarperCollins filed for bankruptcy on Friday. (Sat, 14 Apr 2007 04:15:05 GMT)

Pleasant Care Corp. Files for Bankruptcy
Pleasant Care Corp., a La Cañada-based company, filed for bankruptcy late last month in the midst of elder abuse and wrongful death allegations related to its operations. (Sat, 14 Apr 2007 05:59:40 GMT)

O.J. Simpson Book Sale Thwarted By Bankruptcy
A bankruptcy proceeding has thwarted the planned auction of O.J. Simpson's controversial 'If I Did It' book. But the story isn’t over yet. (Sat, 14 Apr 2007 19:03:04 GMT)

U.S. Homebuilders Face Bankruptcy Risk in '08, Lawyers Say
April 14 (Bloomberg) -- The collapse of the subprime mortgage market may push some big U.S. homebuilders toward Chapter 11 beginning next year, according to bankruptcy advisers and lawyers who specialize in the real estate industry. (Sat, 14 Apr 2007 21:39:23 GMT)

Home builder files bankruptcy: Homeowners left with unfinished work, liens on property, attorney says
Local home builder Jason Cross, who is alleged to have misused funds he was issued to pay subcontractors and purchase construction materials, has filed for Chapter 13 bankruptcy. Home owners who have claims against Cross are not named as creditors in the court documents pertaining to the bankruptcy. (Sun, 15 Apr 2007 03:24:12 GMT)

Bankruptcy judge denies flight attendants' bid
NEW YORK -- A federal bankruptcy judge denied requests by Northwest Airlines flight attendants to reverse company-imposed pay cuts and award compensation for their lost wages. (Sun, 15 Apr 2007 06:27:25 GMT)

Bankruptcy judge has true tales to tell
A BANKRUPTCY JUDGE who has tired of seeing people burdened with credit-card debt in his courtroom has decided to do more than help them untangle their finances. (Sun, 15 Apr 2007 08:43:23 GMT)

Foreclosures not stoppedby bankruptcy
NEW YORK - More financially stretched borrowers are realizing even declaring bankruptcy can't save their homes from foreclosure. (Sun, 15 Apr 2007 11:06:49 GMT)

For many deep in debt, bankruptcy can't stave off foreclosure
NEW YORK ? More financially stretched borrowers are realizing that even declaring bankruptcy can?t save their homes from foreclosure. Take Bernice and Harlan King in Cleveland. (Sun, 15 Apr 2007 14:01:00 GMT)

Bankruptcy judge tackles credit cards
Bankruptcy judge tries to keep kids out of credit card debt -- and out of his courtroom. (Mon, 16 Apr 2007 05:51:00 GMT)

U.S. home builders risk bankruptcy in 2008, experts say
The collapse of the subprime mortgage market may push some big U.S. home builders toward Chapter 11 bankruptcy protection starting next year. (Mon, 16 Apr 2007 06:31:48 GMT)

Bankruptcy filings
The following people and organizations filed for bankruptcy protection from the U.S. Northern District Bankruptcy Court from April 6-12. Carmen Roman of 524 Castle Creek Road, Apt. 44 filed for Chapter 7 on April 6. (Mon, 16 Apr 2007 06:51:30 GMT)

Leading Legal Firm, Busby & Lee, Helps Clients Understand Divorce Decrees Under New Bankruptcy Law
The bankruptcy and family law attorneys explain importance of wording in divorce decree when seeking spousal support or alimony. (PRWeb Apr 16, 2007) (Mon, 16 Apr 2007 07:01:42 GMT)

NJ Hospital Files for Bankruptcy
Bayonne Medical Center has filed for bankruptcy protection but will operate normally while it reorganizes its finances, the hospital said Monday. (Mon, 16 Apr 2007 16:57:46 GMT)

Delta Air Lines moves nearer to emerging from bankruptcy
SAN FRANCISCO (MarketWatch) -- More than 95% of Delta Air Lines Inc.'s creditors voted in favor of its reorganization plan, the carrier said Monday in marking a key milestone in its planned emergence from bankruptcy. (Mon, 16 Apr 2007 17:53:20 GMT)

Bankruptcy Filings Plunge in Calendar Year 2006
April 16, 2007 — Bankruptcy filings in the federal courts dropped 70 percent in calendar year 2006, according to data released today by the Administrative Office of the U.S. Courts. (Mon, 16 Apr 2007 19:42:50 GMT)

NYC bankruptcy filings plunged in 2006
Bankruptcy filings in the New York City area fell by 77% in the first full year after major reform legislation was enacted. (Mon, 16 Apr 2007 20:05:09 GMT)

Bayonne Medical Center Files Bankruptcy
Bayonne Medical Center has filed for bankruptcy protection but will operate normally while it reorganizes its finances, the hospital said Monday. The community hospital said in a statement that it has filed a voluntary petition toreorganize under Chapter 11 in U.S. Bankruptcy Court in Newark. (Mon, 16 Apr 2007 22:41:19 GMT)

China issues regulation on selection of trustees in bankruptcy
China's Supreme People's Court (SPC) issued two regulations on Monday on the selection of bankruptcy trustees in China. (Tue, 17 Apr 2007 00:40:24 GMT)

Delta Plans To Emerge From Bankruptcy April 30th
ATLANTA (AP) - Delta Air Lines Inc. said Monday unofficial voting results show its reorganization plan has received enough creditor support to be approved, paving the way for it to emerge from bankruptcy protection on April 30. (Tue, 17 Apr 2007 04:31:02 GMT)

Bayonne hospital declares bankruptcy, but will keep running
Bayonne Medical Center has filed for bankruptcy protection but will operate normally while it reorganizes its finances, the hospital said yesterday. The community hospital said in a statement that it has filed a voluntary petition to reorganize under Chapter 11 in U.S. Bankruptcy Court in Newark. (Tue, 17 Apr 2007 05:22:07 GMT)

Bayonne hospital in surprise Chapter 11 bankruptcy filing
Squeezed by debt, Bayonne Medical Center filed for Chapter 11 bankruptcy in Federal Court in Newark yesterday morning. (Tue, 17 Apr 2007 06:26:39 GMT)

Samaritan Hospital files for bankruptcy protection
Samaritan Hospital, which is in the midst of negotiating a sale or lease agreement with the University of Kentucky, filed for bankruptcy protection late yesterday. (Tue, 17 Apr 2007 07:17:22 GMT)

Filings for bankruptcy decline 70 percent
Experts are not sure of the exact cause for the sharp dip. U.S. rules that took effect in 2006 made it harder to declare bankruptcy. (Tue, 17 Apr 2007 08:02:21 GMT)

Bayonne hospital files for bankruptcy
TRENTON (AP) --Bayonne Medical Center has filed for bankruptcy protection but will operate normally while it reorganizes its finances, the hospital said Monday. (Tue, 17 Apr 2007 08:09:09 GMT)

Take care mingling money in bankruptcy
If two unrelated people share a bank account and one goes bankrupt, creditors might come after the money, regardless of who deposited it, says the Bankruptcy Adviser. (Tue, 17 Apr 2007 10:00:00 GMT)

Flooded into bankruptcy
Floods in 2003 and 2004 have forced the owner of Maumee Valley Golf Club in New Haven to file for Chapter 11 bankruptcy protection. (Tue, 17 Apr 2007 11:33:15 GMT)

Take care mingling money in bankruptcy
Dear Bankruptcy Adviser, If you have your name on a savings account as a second name just for the purpose of doing transactions for the account holder and the account holder is not a spouse to you, in case of filing bankruptcy will that person lose his money or is it still considered his account? (Tue, 17 Apr 2007 12:02:47 GMT)

Delta Air Creditors Approve Bankruptcy Plan
Plans to emerge from bankruptcy by end of month. (Tue, 17 Apr 2007 12:23:26 GMT)

Vonage says bankruptcy is possible
U.S. Internet phone carrier Vonage Holdings Corp. said Tuesday its patent troubles with Verizon Communications Inc. could lead to its bankruptcy. (Wed, 18 Apr 2007 03:04:44 GMT)

Vonage Says That It May Face Bankruptcy
The Internet phone service provider said its recent legal woes over patents could lead to bankruptcy. (Wed, 18 Apr 2007 03:25:55 GMT)

Vonage says it may face bankruptcy
The Internet phone service provider says its legal woes could lead to bankruptcy, according to a regulatory filing. (Wed, 18 Apr 2007 04:20:54 GMT)

Samaritan's bankruptcy helps UK
Samaritan Hospital's bankruptcy puts the University of Kentucky in position to purchase the hospital's assets with a clear title for $12 million. (Wed, 18 Apr 2007 07:17:20 GMT)

Vonage says patent fight could force bankruptcy filing
Vonage Holdings, the pioneer of Internet-based phone calls, said patent fights could lead to bankruptcy and the company's liquidation. (Wed, 18 Apr 2007 09:30:43 GMT)

NYC bankruptcy filings plunged in 2006
Bankruptcy filings in the New York City area fell by 77% in the first full year after major reform legislation was enacted. (Wed, 18 Apr 2007 11:05:42 GMT)

Vonage warns that legal woes could lead to bankruptcy
Internet phone service provider Vonage Holdings (VG), which was found to have infringed on three patents owned by Verizon Communications (VZ) by a U.S. court, said its legal woes could lead to bankruptcy, according to a regulatory filing. (Wed, 18 Apr 2007 13:13:17 GMT)

Vonage shares slide on bankruptcy risk warning
Shares of Vonage Holdings Corp. dropped 6 percent on Wednesday after it warned in a regulatory filing of a risk of bankruptcy due to legal woes stemming from a court's finding that it infringed on Verizon Communications Inc.'s patents. (Wed, 18 Apr 2007 14:16:22 GMT)

Bankruptcy filings plummet 70 percent
WASHINGTON — A year after a massive reworking of bankruptcy laws went into effect, the number of bankruptcy filings nationwide dropped last year to the lowest level in nearly 20 years, though experts say they could rise again this year. (Wed, 18 Apr 2007 14:24:24 GMT)

Bankruptcy cases plummet in Louisiana
NEW ORLEANS (AP) - As has happened in the rest of the United States, the number of bankruptcy filings in Louisiana plummeted in 2006, the first full year of a revised federal law that makes it much tougher to wipe out debt. (Wed, 18 Apr 2007 14:38:40 GMT)

Bankruptcy filings hit 18-year low
The number Americans filing for bankruptcy tumbled to its lowest level in nearly two decades last year - in part because filings had surged in late 2005 before a new bankruptcy law went into effect. (Wed, 18 Apr 2007 19:29:00 GMT)

Vonage shares plunge on bankruptcy fears
Shares in Vonage Holdings fell by another 6 per cent on Wednesday after the struggling broadband telephony provider acknowledged for the first time that costs related to a series of patent lawsuits may force it into bankruptcy. (Thu, 19 Apr 2007 01:32:54 GMT)

Bankruptcy Filings Down 70 Percent
Washington (April 19, 2007) - A year after the the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 became law, government statistics show that the number of bankruptcy filings nationwide dropped nearly 70 percent last year. (Thu, 19 Apr 2007 04:09:27 GMT)

Bankruptcy cases plummet in Louisiana
Bankruptcy filings in the Western District of Louisiana, which includes Shreveport-Bossier City, dropped dramatically from 2005 to 2006 "" the first full year of a revised federal law that makes it much tougher to wipe out debt. (Thu, 19 Apr 2007 07:26:19 GMT)

Bankruptcy-tested executive to replace Owens Corning’s retiring boss
Having finished his biggest task — steering a $6.5 billion company through and then out of bankruptcy — Owens Corning Chief Executive Dave Brown said yesterday he will retire from the Fortune 500 firm by year’s end. (Thu, 19 Apr 2007 10:42:52 GMT)

NYC bankruptcy filings plunged in 2006
Bankruptcy filings in the New York City area fell by 77% in the first full year after major reform legislation was enacted. (Thu, 19 Apr 2007 13:04:53 GMT)

Feds Oppose Pittsburgh Brewing Bankruptcy Plan
Another day, another objection to Pittsburgh Brewing Co.'s bankruptcy financing plan. (Thu, 19 Apr 2007 14:02:24 GMT)

GM Says Agreement for Delphi to Exit Bankruptcy Still Possible
April 20 (Bloomberg) -- General Motors Corp., the world's largest automaker, said an agreement for Delphi Corp. to exit bankruptcy is still possible after the parts maker said a potential investor would likely not participate. (Fri, 20 Apr 2007 00:54:13 GMT)

Lawyers cope with bankruptcy law online
Patrick McMahon, a consumer-bankruptcy lawyer in San Francisco, had only a couple of days to help a client file for bankruptcy to prevent foreclosure on his home. (Fri, 20 Apr 2007 05:52:28 GMT)

GM Says Delphi Bankruptcy Agreement Still Possible (Update5)
April 20 (Bloomberg) -- General Motors Corp., the world's largest automaker, said an agreement for Delphi Corp., its largest parts supplier, to exit bankruptcy is still possible even as a prospective investor will likely not participate. (Fri, 20 Apr 2007 06:56:57 GMT)

Samaritan bankruptcy filing bothers judge
Bankruptcy Judge William S. Howard expressed concern yesterday that the Samaritan Hospital bankruptcy filing caters to the needs of the University of Kentucky while overlooking the unsecured creditors and other possible buyers for the hospital. (Fri, 20 Apr 2007 07:19:49 GMT)

GM Says Delphi Bankruptcy Agreement Still Possible (Update6)
April 20 (Bloomberg) -- General Motors Corp., the world's largest automaker, said an agreement for Delphi Corp., its biggest parts supplier, to exit bankruptcy is still possible even as a prospective investor will likely not participate. (Fri, 20 Apr 2007 08:24:13 GMT)

Investor pulls out of Delphi bankruptcy deal
DETROIT (AP) - Delphi's planned exit from bankruptcy protection will be delayed, and a key investor is likely to pull out of a deal to pump up to $3.4 billion into the troubled auto parts maker, the company said Thursday. (Fri, 20 Apr 2007 08:46:36 GMT)

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