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Home > Bankruptcy News

Bankruptcy News Apr 2007

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GM says Delphi bankruptcy deal still possible
SHANGHAI, April 20 (Reuters) - General Motors Corp. said on Friday that Delphi Corp. , its biggest auto parts supplier, had "ample solutions" to emerge from bankruptcy, even if the co-leader of a proposed $3.4 billion investment quit plans to support it. (Fri, 20 Apr 2007 10:44:21 GMT)

Bankruptcy court approves Hancock Fabrics cash plan
A U.S. Bankruptcy Court has approved plans to help Hancock Fabrics generate more cash. (Fri, 20 Apr 2007 13:47:13 GMT)

Bankruptcy court approves ways for Hancock Fabrics to raise cash
BALDWYN, Miss. A U-S Bankruptcy Court has approved plans to help Hancock Fabrics generate more cash. On yesterday (Thursday), the court issued a final order... (Fri, 20 Apr 2007 13:47:59 GMT)

Davenport diocese sells 2 homes in bankruptcy
The Roman Catholic Diocese of Davenport has accepted offers on two of the properties it is selling in bankruptcy to settle claims of sexual abuse by... (Fri, 20 Apr 2007 14:40:11 GMT)

Northwest Airlines names new board as it prepares to exit bankruptcy
Northwest Airlines today named its new 12-member board of directors -- including two men with ties to Michigan -- who will assume their position upon the company's emergence from bankruptcy sometime in June. (Fri, 20 Apr 2007 21:04:22 GMT)

Toronto not facing bankruptcy: city
City officials have backtracked after saying Toronto will be left on the brink of bankruptcy without major help from the Ontario government, hours later painting a more positive picture. (Fri, 20 Apr 2007 21:57:59 GMT)

Northwest Airlines shakes up board as it nears bankruptcy exit
Northwest Airlines Corp. named a new chairman and five new board members on Friday as it gets closer to its planned June emergence from bankruptcy. (Fri, 20 Apr 2007 22:28:59 GMT)

San Diego bishop testifies before bankruptcy committee
SAN DIEGO -- The bishop of the Roman Catholic Diocese of San Diego appeared in federal court Friday to answer questions about church finances amid accusations that the diocese is shielding assets in bankruptcy proceedings. (Sat, 21 Apr 2007 03:05:19 GMT)

Former mayor files for bankruptcy
Mike Rundle, a former mayor and 12-year Lawrence city commissioner, has filed for personal Chapter 7 bankruptcy protection. (Sat, 21 Apr 2007 05:15:32 GMT)

Bankruptcy claims on the rise in Lake Area (4/21)
Three weeks after Hurricane Rita pounded Southwest Louisiana, the most sweeping bankruptcy reform in 25 years went into effect, making it more difficult for debtors to file Chapter 7 bankruptcy. (Sat, 21 Apr 2007 05:23:41 GMT)

Homebuilders face growing risk of bankruptcy
The collapse of the subprime-mortgage market may push some big U.S. homebuilders toward Chapter 11 beginning next year, according to bankruptcy... (Sat, 21 Apr 2007 07:21:48 GMT)

Slotky files for bankruptcy
BLOOMINGTON — Former Castle Theater owner Ben Slotky filed for Chapter 7 bankruptcy to void almost $1.8 million in debt owed to banks, credit-card companies and other creditors. (Sat, 21 Apr 2007 10:30:01 GMT)

Lawyers talking bankruptcy
LAWYERS can learn about a change in bankruptcy legislation at a free seminar. (Sat, 21 Apr 2007 10:55:43 GMT)

Bankruptcy filings down
WASHINGTON, D.C. -- 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. (Sun, 22 Apr 2007 09:59:42 GMT)

Sentencing scheduled for Stanton Heights man in bankruptcy fraud
Andrew Andros, 45, of Stanton Heights, pleaded guilty in federal court to bankruptcy fraud. (Mon, 23 Apr 2007 04:35:13 GMT)

Bankruptcy filings
The following people and organizations filed for bankruptcy protection from the U.S. Northern District Bankruptcy Court from April 13-19. Arthur Luecken of 2940B Route 17C filed for Chapter 13 on April 13. (Mon, 23 Apr 2007 06:51:40 GMT)

Bankruptcy judge's group teaches youth money skills
NEW YORK - A bankruptcy judge who has tired of seeing people in his courtroom burdened with credit-card debt has decided to do more than help them untangle their finances. (Mon, 23 Apr 2007 08:02:31 GMT)

Causes of Business Bankruptcy
There are several factors that can cause a business to go bankrupt. Sometimes bankruptcy can be the cause of financial mismanagement; other times, it is due to circumstances beyond the owner’s control. (Mon, 23 Apr 2007 08:08:08 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. (Mon, 23 Apr 2007 12:06:00 GMT)

Vonage, Facing Bankruptcy on Patent Case, Seeks Court Reprieve
April 23 (Bloomberg) -- Vonage Holdings Corp., ordered to stop adding customers after it lost a patent ruling, may get a reprieve allowing the Internet phone company to conduct business as usual while it appeals the decision. (Mon, 23 Apr 2007 12:12:07 GMT)

Delta narrows loss as bankruptcy exit nears
Bankrupt Delta Air Lines Inc. , which expects to exit Chapter 11 within days, posted a narrower first-quarter loss on Monday on higher fares and lower costs. (Mon, 23 Apr 2007 13:46:35 GMT)

Co-Head of Alvarez & Marsal's Corporate Finance Group Inducted as a Fellow to The American College of Bankruptcy
ATLANTA----Alvarez & Marsal, the independent global professional services firm, announced that James Decker, a managing director and co-head of the Corporate Finance Group, is among 26 elite nominees recently inducted into the Eighteenth Class of Fellows to The American College of Bankruptcy, an honorary professional and educational association of bankruptcy and insolvency professionals. (Mon, 23 Apr 2007 13:49:00 GMT)

Crowell & Moring Boosts Financial Services Team With Three Bankruptcy Lawyers
Crowell & Moring LLP has bolstered its financial services team with the addition of three bankruptcy and restructuring attorneys just months after it added nine lawyers to the same practice. (Mon, 23 Apr 2007 14:00:00 GMT)

Delta trims loss ahead of emergence from bankruptcy
Delta Air Lines said Monday it trimmed its losses for the first quarter as the number three US carrier prepared to emerge from bankruptcy protection. (Mon, 23 Apr 2007 15:45:36 GMT)

US airline Delta trims losses ahead of emergence from bankruptcy
Delta Airlines said Monday it trimmed its losses for the first quarter as the third-largest US carrier prepared to emerge from bankruptcy protection. (Mon, 23 Apr 2007 16:03:20 GMT)

Delta narrows loss as bankruptcy exit nears
Delta reported a $130 million loss for the first quarter, a result that comes just days before the company is expected to emerge from Chapter 11 bankruptcy protection, Reuters reports. The carrier technically lost $2.07 billion during the same quarter... (Mon, 23 Apr 2007 18:16:15 GMT)

J B Jeyaretnam gets conditional discharge from bankruptcy
SINGAPORE : Former opposition figure J B Jeyaretnam on Monday got what is known as a "conditional discharge from bankruptcy" from the Court of Appeal. (Mon, 23 Apr 2007 18:17:04 GMT)

Air bonds rally as companies ready to emerge from bankruptcy
NEW YORK (MarketWatch) -- Junk-rated corporate bonds of Delta Air Lines Inc. and Northwest Airlines Inc. have been flying high in April, bolstered by investor hopes that the two carriers face bright prospects in coming weeks as they emerge from bankruptcy status. (Mon, 23 Apr 2007 18:23:17 GMT)

Delta narrows loss as bankruptcy exit nears
Bankrupt Delta Air Lines, which expects to exit Chapter 11 within days, posted a narrower first-quarter loss Monday on higher fares and lower costs. The No. 3 U.S. airline, which aims to emerge from bankruptcy by the end of this month and list new shares in early May, reported a loss of $130 million compared with a loss of $2.1 billion in the year-ago quarter. Results in both periods were ... (Mon, 23 Apr 2007 18:56:11 GMT)

Dana's '07 bankruptcy bills could be $180M, trustee warns
Lawyers, consultants, and other experts involved in Dana Corp.'s bankruptcy could rack up bills totaling as much as $180 million by year's end, according to the U.S. trustee overseeing the case. (Tue, 24 Apr 2007 10:42:32 GMT)

Samaritan's Bankruptcy Stirs Worry
By Karla Ward, The Lexington Herald-Leader, Ky. Apr. 24--Unless Samaritan Hospital's bankruptcy moves along quickly, the University of Kentucky's attempts to take over and keep the hospital from closing could fail, a UK hospital official said yesterday. (Tue, 24 Apr 2007 13:15:06 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, 24 Apr 2007 14:51:39 GMT)

Diocese's bankruptcy plan to be approved
A plan to allow the Catholic Diocese of Spokane to emerge from bankruptcy and pay victims of sex abuse $48 million will be confirmed, a judge said Tuesday. (Tue, 24 Apr 2007 22:37:05 GMT)

Mesaba Emerges From Bankruptcy
Mesaba Airlines became a wholly owned subsidiary of Northwest Airlines Corp. on Tuesday after emerging from Chapter 11 bankruptcy protection, the two carriers announced in a joint statement. (Wed, 25 Apr 2007 01:29:33 GMT)

Diocese's bankruptcy plan approved
A bankruptcy judge on Tuesday confirmed a plan to allow the Catholic Diocese of Spokane to emerge from bankruptcy and pay victims of sex abuse $48 million. (Wed, 25 Apr 2007 03:49:36 GMT)

Bankruptcy trustee charges Faiella hides behind ex-wife
Former Newark Deputy Mayor Al Faiella conspired with his ex- wife to fraudulently transfer more than $1 million in assets from his name to hers to evade creditors whom he owed millions, according to a complaint filed in federal court by the trustee overseeing Al Faiel la's bankruptcy proceedings. (Wed, 25 Apr 2007 05:13:49 GMT)

Auburn Memorial files for bankruptcy
Saying it will help ensure its long-term viability, Auburn Memorial Hospital officials Tuesday filed a petition for Chapter 11 bankruptcy in U.S. Bankruptcy Court for the Northern District of New York in Syracuse. (Wed, 25 Apr 2007 09:06:21 GMT)

Lawyers to talk bankruptcy
LAWYERS can find out more about a change in bankruptcy legislation at a seminar tomorrow evening. (Wed, 25 Apr 2007 11:28:54 GMT)

Auburn hospital files for Chapter 11 bankruptcy protection
AUBURN, N.Y. A central New York hospital has filed for Chapter Eleven bankruptcy protection. Officials at Auburn Memorial Hospital say the move should help ensure... (Wed, 25 Apr 2007 11:55:56 GMT)

Once on the 'brink of extinction,' Mesaba exits bankruptcy and joins NWA
Regional carrier Mesaba officially exited Chapter 11 bankruptcy protection on Tuesday and became a wholly owned subsidiary of long-time partner Northwest Airlines, The Associated Press reports. AP adds that Mesaba Aviation, which has operated as a feeder airline with Northwest... (Wed, 25 Apr 2007 14:18:32 GMT)

Auburn hospital files for Chapter 11 bankruptcy protection
AUBURN, N.Y. A central New York hospital has filed for Chapter Eleven bankruptcy protection. (Wed, 25 Apr 2007 14:51:23 GMT)

Judge approves Delta's bankruptcy exit plan
A federal bankruptcy judge approved on Wednesday a Delta Air Lines plan to exit bankruptcy after the nation's third-largest airline spent nearly 20 months in a wrenching reorganization that cut 6,000 jobs and slashed $3 billion in costs. (Wed, 25 Apr 2007 21:09:16 GMT)

Delta Air Lines cleared to exit bankruptcy
A U.S. bankruptcy court on Wednesday gave Delta Air Lines Inc. the go-ahead to exit bankruptcy at the end of this month. (Wed, 25 Apr 2007 22:19:12 GMT)

Delta to exit bankruptcy next week
Delta Air Lines is exiting bankruptcy and re-entering an increasingly competitive market in which its success depends on operating with a lean labor force and expanding its international flights. (Thu, 26 Apr 2007 05:33:57 GMT)

Bankruptcy woes to end at Delta
A US judge approves a plan by Delta Air Lines for the firm to emerge from Chapter 11 bankruptcy protection. (Thu, 26 Apr 2007 06:02:25 GMT)

Judge Approves Delta Bankruptcy Exit Plan
A federal bankruptcy judge approved a Delta Air Lines plan to exit bankruptcy after the nation's third-largest airline spent nearly 20 months in a wrenching reorganization that cut 6,000 jobs and slashed $3 billion in costs. (Thu, 26 Apr 2007 09:30:02 GMT)

Delta leaving bankruptcy
The way has been cleared for Delta Air Lines to officially end its 19-month bankruptcy on Monday. U.S. (Thu, 26 Apr 2007 13:04:44 GMT)

Court confirms Delta bankruptcy exit
The U.S. Bankruptcy Court for the Southern District of New York has approved Delta Air Lines' plan of reorganization, clearing the way for the carrier to come out of Chapter 11 bankruptcy April 30. (Thu, 26 Apr 2007 13:37:25 GMT)

Delta to emerge from bankruptcy on April 30
Delta Air Lines Inc., which entered Chapter 11 on the same day in 2005 as Northwest Airlines Corp., will beat Northwest out of bankruptcy after the U.S. Bankruptcy Court in New York on Wednesday approved Delta's reorganization plan. That paves the way for the Atlanta airline to fly out of Chapter 11 on April 30. (Thu, 26 Apr 2007 13:37:56 GMT)

Delta to emerge from bankruptcy April 30
The U.S. Bankruptcy Court in New York has approved Delta Air Lines Inc.'s reorganization plan, paving the way for Delta to fly out of Chapter 11 on April 30. (Thu, 26 Apr 2007 14:07:16 GMT)

Delta to emerge from bankruptcy on April 30
The U.S. Bankruptcy Court in New York on Wednesday approved Delta Air Lines Inc.'s reorganization plan, clearing the way for Delta to fly out of Chapter 11 on April 30. (Thu, 26 Apr 2007 14:43:43 GMT)

Bankruptcy Among Seniors Rising Faster
Americans over the age of 55 are filing for bankruptcy at a faster rate than the general population as growing mortgage debt and higher health care costs make them more vulnerable, a new study shows. (Thu, 26 Apr 2007 19:47:21 GMT)

Boomers increase bankruptcy filings
Americans over the age of 55 are filing for bankruptcy at a faster rate than the general population, as growing mortgage debt and higher health-care costs make them more vulnerable, a study shows. (Fri, 27 Apr 2007 07:32:17 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, 27 Apr 2007 09:27:12 GMT)

More boomers filing bankruptcy
NEW YORK -- Americans older than 55 are filing for bankruptcy at a faster rate than the general population as growing mortgage debt and higher health care costs make them more vulnerable, a new study shows. (Fri, 27 Apr 2007 09:39:46 GMT)

Boomer bankruptcy: slippery slope
Americans older than 55 are filing for bankruptcy at a faster rate than the general population, as growing mortgage debt and higher health care costs make them more vulnerable, a study shows. (Fri, 27 Apr 2007 09:41:23 GMT)

Fort Smith : Barry is sworn in as bankruptcy judge
FORT SMITH — Fort Smith attorney Ben T. Barry was sworn in Thursday as a federal bankruptcy judge for Arkansas after being appointed by the chief judge of the 8th U.S. Circuit Court of Appeals in St. Louis. (Arkansas Democrat-Gazette Northwest Edition) (Fri, 27 Apr 2007 12:30:38 GMT)

Dana pays lawyers $26 million in bankruptcy case
WASHINGTON (Dow Jones/AP) - A judge on Thursday authorized Toledo, Ohio-based Dana Corp. to pay about $26 million to the cluster of law firms, restructuring consultants and financial advisers working on its bankruptcy reorganization. (Fri, 27 Apr 2007 13:40:34 GMT)

Delta Airlines to emerge from bankruptcy next week
NEW YORK, April 27 (newratings.com) – Delta Airlines ( DAL.NYS ) was allowed by US Bankruptcy Judge Adlai Hardin on Wednesday to exit bankruptcy on April 30. (Fri, 27 Apr 2007 18:19:05 GMT)

Landis Says He May Have To Declare Bankruptcy
LANCASTER, Pa. -- Tour de France champion Floyd Landis says he is running out of money. The Lancaster County native says he has lost nearly $10 million in potential earnings since being accused of doping in last year's Tour de France. Landis says he may have to declare bankruptcy. (Fri, 27 Apr 2007 20:59:30 GMT)

Bankruptcy on rise for older Americans
Americans aged 55 and older are filing for bankruptcy at a faster rate than the general population, a study released Friday reveals. (Fri, 27 Apr 2007 22:29:25 GMT)

Developers For Running Horse Golf Course Declare Bankruptcy
Developers for Running Horse Golf Course have paperwork Friday, declaring chapter 11 bankruptcy. A major PGA Tournament was scheduled for that development this fall, but now it may not happen. (Sat, 28 Apr 2007 00:52:28 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, 28 Apr 2007 03:08:27 GMT)

New Running Horse owners declare bankruptcy
KSEE 24 news has learned the newest owners of the Running Horse golf course, Hole-In-One management, declared bankruptcy Friday. (Sat, 28 Apr 2007 04:15:19 GMT)

EZ Dumper owner says business back on track after bankruptcy
WAYNESBORO Despite negative comments from competitors, EZ Dumper on East Ninth Street is pulling out of bankruptcy and “business is booming,” according to the company s president, Donovan Bachtell. (Sat, 28 Apr 2007 13:07:48 GMT)

EZ Dumper owner says business back on track after bankruptcy
WAYNESBORO Despite negative comments from competitors, EZ Dumper on East Ninth Street is pulling out of bankruptcy and “business is booming,” according to the company s president, Donovan Bachtell. (Sat, 28 Apr 2007 19:52:48 GMT)

Delta to emerge from bankruptcy Monday
ATLANTA, Ga. - After spending 19 months in bankruptcy, Delta Airlines will officially emerge from Chapter 11 on Monday. (Sat, 28 Apr 2007 21:53:42 GMT)

Delta to exit bankruptcy as US airlines sees sunnier skies
A Delta Airlines aircraft at Dulles International Airport in Chantilly, Virginia 28 March 2007. Delta Airlines is set to emerge from 19 months of bankruptcy protection in another sign that one of the bleakest chapters for the US airline industry may be coming to an end. (Sun, 29 Apr 2007 03:52:08 GMT)

Delta to exit bankruptcy as US airlines sees sunnier skies
Delta Airlines is set to emerge from 19 months of bankruptcy protection in another sign that one of the bleakest chapters for the US airline industry may be coming to an end. (Sun, 29 Apr 2007 07:00:08 GMT)

Older than 55: Bankruptcy trends rise
NEW YORK -- Americans over the age of 55 are filing for bankruptcy at a faster rate than the general population as growing mortgage debt and higher health care costs make them more vulnerable, a new study shows. (Sun, 29 Apr 2007 09:09:20 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, 29 Apr 2007 13:26:59 GMT)

Delta exits bankruptcy with planes full
Delta Air Lines emerged from bankruptcy early Monday as a leaner but still independent carrier after a 19-month reorganization that saw it fight off a $10 billion hostile takeover. (Mon, 30 Apr 2007 11:13:55 GMT)

Delta Air Lines exits bankruptcy
Delta Air Lines Inc. on Monday emerged from bankruptcy after a 19-month restructuring that resulted in $3 billion in annual financial improvements, the third-largest U.S. airline said. (Mon, 30 Apr 2007 12:08:00 GMT)

Delta Air Lines Emerges From Bankruptcy
Delta Air Lines emerged from bankruptcy on Monday, 19 months after it began restructuring. (Mon, 30 Apr 2007 12:22:57 GMT)

Delta Exiting Bankruptcy, Faces Changes
After Major Facelift, Day for Delta to Exit Bankruptcy Arrives (Mon, 30 Apr 2007 12:27:09 GMT)

Delta exits bankruptcy protection
Delta Air Lines emerges from bankruptcy protection after completing a 19-month restructuring programme. (Mon, 30 Apr 2007 13:17:28 GMT)

Delta Air Lines exits bankruptcy
Delta Air Lines emerged from bankruptcy Monday, after completing a $3 billion restructuring over the past 19 months. (Mon, 30 Apr 2007 13:47:39 GMT)

Delta Air Lines exits bankruptcy
Delta Air Lines emerged from bankruptcy Monday, after completing a $3 billion restructuring over the past 19 months. "This is a great day in Delta's history," Chief Executive Gerald Grinstein said in a statement. "Delta is now a fierce competitor in a tough industry." (Mon, 30 Apr 2007 14:20:25 GMT)

Delta exiting bankruptcy, faces changes
Delta Air Lines Inc. has undergone a major facelift during more than a year and a half in bankruptcy, but other changes are on the way as the nation's No. 3 carrier exits Chapter 11 on Monday. (Mon, 30 Apr 2007 14:21:01 GMT)

Delta Air Lines emerges from bankruptcy
Delta Air Lines said Monday it has emerged from bankruptcy protection, after a 19-month reorganization to help get past the long crisis in the US airline industry. (Mon, 30 Apr 2007 14:36:41 GMT)

Delta exits bankruptcy
Delta Air Lines Inc. emerged from bankruptcy protection Monday as an independent carrier after surviving a hostile takeover bid during a 19 1/2-month reorganization that saw it eliminate jobs, cut costs, restructure its fleet and focus more on international flying. (Mon, 30 Apr 2007 14:40:31 GMT)

Delta exits bankruptcy
Delta Air Lines Inc. emerged from bankruptcy protection Monday as an independent carrier after surviving a hostile takeover bid during a 19 1/2-month reorganization that saw it eliminate jobs, cut costs, restructure its fleet and focus more on international flying. (Mon, 30 Apr 2007 15:54:04 GMT)

Delta Air Lines emerges from bankruptcy
Delta Air Lines emerged Monday from bankruptcy protection after a 19-month reorganization that helped the third-largest US carrier get past the long crisis in the airline industry. (Mon, 30 Apr 2007 18:56:19 GMT)

Delta exits bankruptcy after 19-month restructuring
Delta Air Lines Inc. emerged from bankruptcy on Monday, following a 19-month, $3 billion restructuring during which the carrier thwarted a hostile takeover, cut costs and jobs, and eliminated some unprofitable routes. (Mon, 30 Apr 2007 19:13:27 GMT)

Delta exits bankruptcy, pledges to be 'fierce competitor'
Delta Air Lines emerged Monday from bankruptcy protection pledging to be a "fierce competitor in a tough industry" after a 19-month reorganization. (Mon, 30 Apr 2007 19:38:18 GMT)

Delta Air Lines exits bankruptcy leaner than before
Delta Air Lines emerged from bankruptcy protection Monday after surviving a hostile takeover bid during a 19 1/2-month reorganization that saw it eliminate jobs, restructure its fleet and focus more on international flying. (Mon, 30 Apr 2007 22:27:33 GMT)

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