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Home > Bankruptcy News

Bankruptcy News May 2007

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Delta exits bankruptcy with new look, new life
Delta Air Lines waved farewell to bankruptcy protection Monday and put down a welcome mat for a redesigned logo after surviving a hostile... (Tue, 01 May 2007 07:16:03 GMT)

Ignore arbitration, suits on bankruptcy's eve
If a debt-related lawsuit or arbitration is filed just before bankruptcy, just ignore the court and let the judgment come because the filing will cancel it, says the Bankruptcy Adviser. (Tue, 01 May 2007 10:00:00 GMT)

Personal Bankruptcy: What You Should Know
The last resort, if you find yourself unable to bail out of a debt situation, is filing for personal bankruptcy. While such a situation is very stressful and will all but put an end to your credit rating for a long time, the federal bankruptcy law is designed to provide someone with a fresh start. (Tue, 01 May 2007 12:00:00 GMT)

Northwest posts $292 million loss on bankruptcy expenses
Northwest Airlines, nearing the end of its bankruptcy reorganization, reported a $292 million first-quarter loss on Monday, all of it due to reorganization expenses. (Tue, 01 May 2007 14:32:55 GMT)

"The Source" Is Tapped Out, Files For Bankruptcy... Again
The Source Magazine and its affiliate Source Entertainment Inc. have reportedly filed for Chapter 11 bankruptcy, claiming former management put the company in the red. Visit SOHH.com for the complete story. (Tue, 01 May 2007 16:38:43 GMT)

Experts clash over success of bankruptcy reform
WASHINGTON (MarketWatch) -- Legislators heard two starkly different assessments of the nation's bankruptcy laws Tuesday, with critics saying consumers have been hit with higher costs and supporters pointing to a decline in filings since a major bankruptcy overhaul was enacted in 2005. (Tue, 01 May 2007 17:37:38 GMT)

Delta Workers Get Post-Bankruptcy Cash
A day after exiting bankruptcy protection, Delta Air Lines Inc. gave about 40,000 employees lump-sum payouts Tuesday equal to 8 percent of their 2006 earnings. (Tue, 01 May 2007 19:52:32 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. (Wed, 02 May 2007 01:37:39 GMT)

Leaner Delta Airlines emerges from bankruptcy protection
ATLANTA – Delta Air Lines Inc. waved farewell to bankruptcy protection Monday and put down a welcome mat for a redesigned logo after surviving a hostile takeover bid during a 19 1/2 -month reorganization that saw it shed billions in costs. (Wed, 02 May 2007 06:27:49 GMT)

Area bankruptcy filings increase 72% for month
Filings in U.S. Bankruptcy Court in Toledo rose 72 percent last month, the fourth straight month for double-digit increases. (Wed, 02 May 2007 10:42:13 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. (Wed, 02 May 2007 13:36:58 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, 02 May 2007 14:47:38 GMT)

New Century Alters Bankruptcy Bonuses
Liquidating subprime lender New Century Financial Corp. says it has dropped some top executives from its bankruptcy bonus plan but maintains that a new law restricting bonuses doesn't apply to those who stand to share more than $1 million in extra pay over the coming weeks. (Wed, 02 May 2007 19:10:20 GMT)

W.S. Lee bankruptcy plan OK'd; company to become Lee Food Service
A federal judge has approved a reorganization plan that will enable food-supply company W.S. Lee & Sons Inc. to emerge from bankruptcy as Lee Food Service Inc. (Wed, 02 May 2007 22:09:10 GMT)

Post-bankruptcy Delta stock to begin trading Thursday
Delta Air Lines new, post-bankruptcy stock will start trading Thursday morning on the New York Stock Exchange, using the ticket symbol DAL. (Thu, 03 May 2007 02:39:48 GMT)

Out of bankruptcy, can Delta entice new investors?
When Delta Air Lines Inc. formally emerged from bankruptcy Monday, it marked the end of a 19-month restructuring process that has enabled the carrier to fly high recently. (Thu, 03 May 2007 06:24:16 GMT)

Iraq, US plead for support
Iraqi Prime Minister Nuri al-Maliki and US Secretary of State Condoleezza Rice urged the world on Thursday to rescue Iraq from chaos and bankruptcy. (Thu, 03 May 2007 13:44:01 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, 03 May 2007 14:26:23 GMT)

Vanderbilt bankruptcy scholar is new USC law school dean
Bankruptcy scholar Robert K. Rasmussen is the new law school dean at the University of Southern California. (Thu, 03 May 2007 18:22:36 GMT)

Delta stock soars after new post-bankruptcy shares issued
Delta Airlines stock moved skyward Thursday as new shares traded for the first time since the third-largest US carrier emerged from bankruptcy this week. (Thu, 03 May 2007 18:32:21 GMT)

Delta stock rises after new post-bankruptcy shares issued
Delta Air Lines stock moved skyward Thursday as new shares traded for the first time since the third-largest US carrier emerged from bankruptcy this week. (Thu, 03 May 2007 22:00:13 GMT)

Delta flies out of bankruptcy
The nation's third largest airline will take to the skies today and will do something that it hasn't done for almost two years, fly without bankruptcy looming over its head. (Fri, 04 May 2007 00:46:37 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, 04 May 2007 04:57:05 GMT)

Bankruptcy judge approves Entergy New Orleans’ plan
NEW ORLEANS — A judge approved a bankruptcy reorganization plan Thursday for Entergy New Orleans, the electricity and natural gas utility devastated by Hurricane Katrina. (Fri, 04 May 2007 05:17:21 GMT)

Entergy N.O. to exit bankruptcy
As of Tuesday, Entergy New Orleans will no longer be hamstrung by bankruptcy, meaning in coming months customers may get a bit of relief on their utility rates. (Fri, 04 May 2007 05:25:54 GMT)

Hotel Zoso owner files for bankruptcy
A Las Vegas bankruptcy case involving nearly $1 billion owed to investors stretched to Palm Springs late last week when USA Investors VI, owner of the 163-room Hotel Zoso, filed for Chapter 11 bankruptcy protection. (Fri, 04 May 2007 05:34:35 GMT)

ASC files for bankruptcy protection
ASC Inc., the Southgate specialty automotive manufacturer formerly known as American Sunroof Co., filed for reorganization under Chapter 11 of the U.S. bankruptcy code on Wednesday. (Fri, 04 May 2007 07:29:27 GMT)

Briefs: Restaurant owner files bankruptcy
A Fremont restaurant will remain open despite the owner’s filing for bankruptcy, the owner said Thursday. (Fri, 04 May 2007 08:47:15 GMT)

Northwest to award CEO $26.6 million in equity post--bankruptcy
EAGAN, Minn. -- Chief executive Doug Steenland will be awarded $26.6 million in equity when Northwest Airlines Corp. emerges from Chapter 11 bankruptcy next month, the carrier announced... (Sat, 05 May 2007 02:36:32 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, 05 May 2007 02:40:31 GMT)

Northwest to award CEO $26.6 million in equity post--bankruptcy
EAGAN, Minn. Chief executive Doug Steenland will be awarded 26-point-six million dollars in equity when Northwest Airlines emerges from Chapter Eleven bankruptcy next... (Sat, 05 May 2007 02:47:59 GMT)

Northwest to award CEO $26.6 million in equity post--bankruptcy
EAGAN, Minn. Chief executive Doug Steenland will be awarded 26-point-six million dollars in equity when Northwest Airlines emerges from Chapter Eleven bankruptcy next month. (Sat, 05 May 2007 13:12:07 GMT)

Councillor denies bankruptcy claims
A LIBERAL Democrat councillor who was expelled from the party has denied all the allegations made against her. Cllr Sera Kentman, who is currently the subject of a police investigation, says she was not thrown out of the Liberal Democrat party, as the leader of the group had said on March 8. (Sun, 06 May 2007 01:32:12 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, 06 May 2007 05:57:30 GMT)

Northwest to award CEO $26.6 million in equity post--bankruptcy
EAGAN, Minn. Chief executive Doug Steenland will be awarded 26-point-six million dollars in equity when Northwest Airlines emerges from Chapter Eleven bankruptcy next month. (Sun, 06 May 2007 09:18:50 GMT)

Bankruptcy filings keep victims from recovering
There's one thing that's keeping David Sroge's victims from their money: Sroge's bankruptcy. (Sun, 06 May 2007 09:31:20 GMT)

Airlines dream up extra fees
Maybe there's something about finally coming out of bankruptcy that makes a company, well, a little goofy. Delta Air Lines emerged from 19 months of Chapter 11 proceedings last week and promptly announced a pair of "distinctive and enjoyable" new... (Sun, 06 May 2007 10:38:05 GMT)

Bankruptcies
Petitions filed with more than $100,000 in debts in federal bankruptcy court in Fresno. (Sun, 06 May 2007 13:16:22 GMT)

Schefenacker escapes bankruptcy
Schefenacker, a German car-parts manufacturer that has recently relocated its head office to the UK, escaped bankruptcy at the end of last week after bondholders narrowly approved a corporate restructuring plan under British insolvency laws. (Mon, 07 May 2007 02:15:51 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, 07 May 2007 06:57:35 GMT)

Rosneft to beat two rivals for YUKOS Samara -paper
MOSCOW, May 7 (Reuters) - Russia's state-controlled oil firm Rosneft will face competition from two smaller firms in a major YUKOS bankruptcy auction on Thursday but is still the most likely winner, a newspaper said on Monday. (Mon, 07 May 2007 11:34:40 GMT)

Northwest to award CEO $26.6 million in equity after bankruptcy
Chief executive Doug Steenland will be awarded $26.6 million in equity when Northwest Airlines emerges from Chapter 11 bankruptcy next month, the carrier announced Friday. According to a bankruptcy filing, the airline plans to give restricted stock with a grant date value of $20.8 million and stock options worth $5.8 million. Both types of stock are scheduled to vest over four years. (Mon, 07 May 2007 12:30:15 GMT)

New Colors, But No Price Breaks For Delta
Delta Airlines is celebrating its emergence from bankruptcy with new colors for its planes, but do not expect lower ticket prices. (Mon, 07 May 2007 12:57:43 GMT)

Northwest CEO to get $26.6 million stock award
Get ready for more fireworks between Northwest management and the airline's front-line works. That seems likely after an Associated Press report saying CEO Doug Steenland will be awarded $26.6 million in equity when Northwest … emerges from Chapter 11 bankruptcy... (Mon, 07 May 2007 14:14:43 GMT)

Delta launches new ad and marketing push
Fresh out of bankruptcy, Delta Air Lines is launching a new marketing campaign that amounts to a "pardon our dust" apology to customers and a promise to improve their travel experiences. The new campaign includes a minute-long TV commercial that starts Monday and seeks, in fast-changing snippets of video, to tell the story of the carrier's rebirth since the financial crisis that pushed it into ... (Mon, 07 May 2007 14:55:07 GMT)

Delphi Says First-Quarter Loss Widens to $533 Million (Update2)
May 7 (Bloomberg) -- Delphi Corp., the biggest U.S. auto- parts maker, said its first-quarter loss widened to $533 million because of costs to cut jobs in its bankruptcy reorganization and a drop in sales to General Motors Corp. (Mon, 07 May 2007 14:56:47 GMT)

American Bankruptcy Institute Names New Vice President of International Affairs
Josefina Fernandez McEvoy has been named the vice president of international affairs for the American Bankruptcy Institute (ABI), the largest multi-disciplinary, non-partisan organization dedicated to research and education on matters related to insolvency. (Mon, 07 May 2007 16:29:00 GMT)

Georgia airplane crash begins nursing home’s trip into bankruptcy
Jimmy Mitchell knew what he wanted when he had to find a nursing home for his 88-year-old mother. “Honesty, integrity with the patient’s concerns in heart and not just for financial gain,” the St. Matthews resident said. (Tue, 08 May 2007 06:21:12 GMT)

Consumers Seek Credit Information in Wake of Rising Bankruptcy Costs
With bankruptcy costs skyrocketing, consumers everywhere are seeking information and education on how to save their credit. (Tue, 08 May 2007 07:01:00 GMT)

Consumers Seek Credit Information in Wake of Rising Bankruptcy Costs
With bankruptcy costs skyrocketing, consumers everywhere are seeking information and education on how to save their credit. (PRWeb May 8, 2007) Post Comment:Trackback URL: http://www.prweb.com/pingpr.php/ (Tue, 08 May 2007 07:30:10 GMT)

German Corporate Bankruptcies Fall
The number of German companies filing for bankruptcy in February fell more than 15 percent compared with a year ago, even as consumer bankruptcies rose more than 22 percent, the government's Federal Statistics Office said Tuesday. (Tue, 08 May 2007 07:47:39 GMT)

Do we sell home before or after bankruptcy?
Check the laws of the state where you intend to move, and then file in the state where the rules are more favorable, says the Bankruptcy Adviser. (Tue, 08 May 2007 10:00:00 GMT)

Do we sell home before or after bankruptcy?
Dear Bankruptcy Adviser, Unfortunately, we are looking at filing bankruptcy because my husband has been without work for over a year. It looks like we will have to move out of state for him to find adequate employment. Our question is: Should we try to sell our house and move before filing or after? (Tue, 08 May 2007 11:48:14 GMT)

Entergy New Orleans Out of Bankruptcy
Entergy New Orleans emerged from bankruptcy Tuesday, nearly 20 months after the electric and natural gas utility was forced to reorganize by a loss of customers and massive rebuilding costs following Hurricane Katrina. (Tue, 08 May 2007 20:41:26 GMT)

FSA to review CDS in bankruptcy situations
The Financial Services Agency, the main UK regulator, is considering embarking on a new round of brainstorming about the way that credit default swaps would be handled in the event of a major European bankruptcy. (Tue, 08 May 2007 21:21:02 GMT)

Entergy New Orleans emerges from bankruptcy
Entergy New Orleans emerged from bankruptcy today, nearly 20 months after the electric and natural gas utility was forced to reorganize by a loss of customers and massive rebuilding costs following Hurricane Katrina. (Tue, 08 May 2007 23:02:00 GMT)

CEO: Entergy getting out of bankruptcy won't cut customer's prices quickly
Entergy New Orleans emerged from bankruptcy Tuesday, a move that financial observers said came very quickly. But that speedy turnaround isn’t expected to produce immediate rate relief for customers whose bills have gone sky high. (Tue, 08 May 2007 23:04:37 GMT)

Entergy N.O. Emerges From Bankruptcy
Entergy New Orleans emerges from bankruptcy nearly 20 months after it was forced to reorganize by a loss of customers and massive rebuilding costs. (Wed, 09 May 2007 00:14:45 GMT)

Judge: Appointment of Fee Examiner Warranted for Collins & Aikman Bankruptcy
A federal judge in Michigan has dealt a blow to professionals working on the Collins & Aikman bankruptcy by indicating that a fee examiner may be appointed to investigate millions of dollars in fees racked up by the liquidating auto parts maker. So far, lawyers have requested about $88 million, a figure that Judge Steven Rhodes said will "undoubtedly be much higher" by the time the case ... (Wed, 09 May 2007 04:08:08 GMT)

Filing for bankruptcy not easy, but often it’s necessary
Declaring bankruptcy is not an easy choice. But for individuals in dire financial straits, it can prove a welcome option. There are differant types of bankruptcy. For instance, Chapter 7 bankruptcy is designed for individuals, while Chapter 11 deals with businesses. (Wed, 09 May 2007 06:15:22 GMT)

Dick Bruhn Inc. Files for Bankruptcy After Closing Regional Stores
Hollister - A longtime downtown clothier filed for bankruptcy protection Friday, four days after closing its doors to the public following a 57-year run. (Wed, 09 May 2007 08:51:40 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, 09 May 2007 13:41:46 GMT)

Goldman Bullish On Delta, Post-Bankruptcy
FP Trading Desk submits: Last week, when Delta Air Lines Inc. emerged from bankruptcy and its new common stock began trading on the New York Stock Exchange, CEO Jerry Grinstein bought 1,000 shares to signal his confidence. (Wed, 09 May 2007 21:09:30 GMT)

97% of creditors OK Northwest bankruptcy plan
Taking a major step toward leaving bankruptcy protection, Northwest Airlines on Wednesday said a majority of its creditors has approved its reorganization plan. (Thu, 10 May 2007 02:48:47 GMT)

Cravath Adds a Bankruptcy Practice
Cravath, Swaine & Moore apparently sees what a lot of firms see: growth in restructuring work. The firm is starting a bankruptcy practice that will be headed up by Richard Levin, who will join from Skadden, Arps, Slate, Meagher & Flom, where he was a partner. Cravath's announcement comes at a time when major firms like Skadden Arps, Kirkland & Ellis and Cadwalader Wickersham have been ... (Thu, 10 May 2007 04:09:08 GMT)

Bankruptcy lawyer seeks Headliners liquidation
Comedy and dance club owner Headliners Entertainment Group, already in bankruptcy protection, should be liquidated, an attorney for a trustee overseeing the case said in court yesterday. (Thu, 10 May 2007 04:53:08 GMT)

Northwest creditors back bankruptcy plan
Northwest Airlines said on Wednesday that its creditors had approved its reorganization plan, another key step in its plan to emerge from bankruptcy protection next month. (Thu, 10 May 2007 05:35:28 GMT)

Utah bankruptcy filings climbed to 583 in April
Utah bankruptcy filings in April climbed to 583, up from 470 during the same month last year, according to the U.S. Bankruptcy Court for the District of Utah. (Thu, 10 May 2007 06:10:43 GMT)

Cravath Adds a Bankruptcy Practice
Cravath, Swaine & Moore apparently sees what a lot of firms see: growth in restructuring work. The firm is starting a bankruptcy practice that will be headed up by Richard Levin, who will join from Skadden, Arps, Slate, Meagher & Flom, where he was a partner. (Thu, 10 May 2007 07:02:15 GMT)

Northwest creditors OK bankruptcy recovery plan
Northwest Airlines said its creditors overwhelmingly approved its bankruptcy reorganization plan, another key step on its way toward emerging from bankruptcy protection next month. (Thu, 10 May 2007 07:14:30 GMT)

N.Y. Hooters owners dropping bankruptcy
The owners of five New York state Hooters franchises, including the Syracuse and Clay restaurants, want to pull the plug on the restaurants' bankruptcy cases, saying there is "no reasonable likelihood of rehabilitation." (Thu, 10 May 2007 09:35:48 GMT)

Over-55 segment of population leads in bankruptcy filings
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. (Thu, 10 May 2007 11:52:25 GMT)

Tweeter Home Entertainment considers bankruptcy
Electronics retailer Tweeter Home Entertainment Group , Inc., reported sharp second-quarter losses on Thursday, saying it may file for Chapter 11 bankruptcy protection. (Thu, 10 May 2007 22:27:38 GMT)

Stroock Bankruptcy Group Joins O'Melveny & Myers
O'Melveny & Myers has recruited a four-partner bankruptcy practice from Stroock & Stroock & Lavan. The practice is led by Michael J. Sage, who will be co-head of O'Melveny's restructuring group. O'Melveny's move comes just one day after Cravath, Swaine & Moore announced it was launching a bankruptcy practice with the recruitment of partner Richard Levin from Skadden, Arps, Slate, Meagher & Flom. (Fri, 11 May 2007 04:07:17 GMT)

Tweeter totters on brink of bankruptcy
A Chapter 11 bankruptcy filing may be in the offing for struggling Tweeter Home Entertainment Group. Shares of the company nosedived 70 percent yesterday, to a record-low 41 cents, after the high-end,... (Fri, 11 May 2007 04:14:57 GMT)

Bankruptcy puts many car warranties in limbo
An Illinois company's bankruptcy has put thousands of Texas vehicle warranties in limbo, but the owners may not be out of luck. A local dealer who sold service contracts issued by Automotive Professionals is honoring repair claims. And an insurer who underwrote Automotive Professionals said he hasn't heard of claims being denied elsewhere. (Fri, 11 May 2007 06:01:13 GMT)

Utah drops to 10th in bankruptcy filings
Just three years ago, Utah ranked first in the nation for its rate of personal bankruptcy filings. (Fri, 11 May 2007 06:13:52 GMT)

Developer files for bankruptcy
The company building 23 homes says money isn't its main problem. SEMINOLE - A local developer of a gated subdivision has asked a federal bankruptcy court for protection while a dispute among the corporation's shareholders is worked out. (Fri, 11 May 2007 07:31:38 GMT)

School chief's bankruptcy worries some
The year before the Livermore Valley Charter School hired school founder Lon Goldstein as its executive director for $160,000 a year, he filed for bankruptcy, claiming more than $2 million in liabilities. (Fri, 11 May 2007 10:35:54 GMT)

Wingfield Condo plan survives bankruptcy
The developer of the proposed Wingfield Towers said the high-profile downtown condo project is still a go despite the company filing for Chapter 11 bankruptcy protection on April 25. (Fri, 11 May 2007 13:56:32 GMT)

McCall flirts with bankruptcy
MCCALL — Officials in the resort town of McCall plan a town hall meeting Monday to announce whether they plan to file for bankruptcy protection after a series of losing court battles involving construction of a wastewater treatment facility. (Fri, 11 May 2007 14:16:01 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. (Fri, 11 May 2007 14:26:11 GMT)

Idaho Town Could File for Bankruptcy
Officials in the resort town of McCall plan a town hall meeting Monday to announce whether they plan to file for bankruptcy protection after a series of losing court battles involving the construction of a wastewater treatment facility. (Fri, 11 May 2007 17:52:39 GMT)

Environmental Organization Declaring Bankruptcy
Environmental Careers Organization, a nonprofit group that has steered thousands of young people into jobs for the environment, has filed for bankruptcy in the midst of an investigation conducted by the U.S. attorney in Boston, reports The Boston Globe. (Fri, 11 May 2007 18:02:15 GMT)

Dick Bruhn Clothing Files Bankruptcy
The Dick Bruhn clothing company declares bankruptcy and many investors are looking for ways to get their money back. (Fri, 11 May 2007 21:04:29 GMT)

Bankruptcy judge lets Catholic churches continue construction
SAN DIEGO -- The judge overseeing the bankruptcy of the Catholic Diocese in San Diego on Thursday authorized 10 parishes, including two in North County, to spend a total of more than 14 million on construction projects with money from parish accounts and loans from the diocese to the parishes. (Sat, 12 May 2007 02:37:12 GMT)

KC translation provider files for bankruptcy
“Things happen and you just move on.” Norman M. Burkart, principal owner of Language Link A local provider of translation services has filed for bankruptcy after getting hit with a trademark and copyright infringement verdict last year. (Sat, 12 May 2007 07:12:56 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. (Sat, 12 May 2007 14:56:50 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, 12 May 2007 22:34:05 GMT)

Bankruptcy may not be final act
Investors question how a high flier's assets disappeared. TALLAHASSEE - They trusted former Seminole Booster president Don Reinhard with millions of investment dollars. When they discovered their entire portfolios had evaporated, they accused him of fraud and deceit. (Sun, 13 May 2007 05:16:08 GMT)

Resort town facing bankruptcy to meet with companies it owes money
Officials in McCall say that the companies the city owes six million dollars have agreed to meet for negotiations tomorrow afternoon. The town is facing bankruptcy after a series of losing court battles involving the construction of a wastewater treatment facility. (Sun, 13 May 2007 23:49:39 GMT)

Japan April Corp Bankruptcy Cases Up 2.8% On Year
TOKYO (Dow Jones)--Japanese corporate bankruptcies rose 2.8% on year to 817 cases in April, increasing for the seventh straight month, private credit research agency Teikoku Databank Ltd. said Monday. (Mon, 14 May 2007 04:49:12 GMT)

Democrats prod automakers on mileage
Democratic-controlled Washington stepped in to help save Chrysler nearly 30 years ago when the automaker was on the verge of bankruptcy due to lackluster sales of its fuel-thirsty vehicles. (Mon, 14 May 2007 06:15:38 GMT)

A better bankruptcy picture
Utah's booming economy is credited with a positive trend in the state's financial picture: a curb on the number of Utahns filing for personal bankruptcy. (Mon, 14 May 2007 06:25:47 GMT)

Bankruptcy filings
The following people and organizations filed for bankruptcy protection from the U.S. Northern District Bankruptcy Court from May 4-10. LuAnne Marie Ludovici of 5880 State Route 434, Apt. C6 filed for Chapter 7 on May 10. (Mon, 14 May 2007 06:51:32 GMT)

Turnwald: Bankruptcy is no cause for shame
Do you believe in second chances? You should. Life gives you them every day. I seem to get a lot of phone calls or client interviews that say pretty much the same thing regarding bankruptcy. "I never thought I would be here." "I don't want to do this." "I have tried not to do this for years." "I don't want anyone to know." "I don't want my family member or friend listed on the bankruptcy." (Mon, 14 May 2007 08:26:52 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, 14 May 2007 09:12:02 GMT)

Increase in bankruptcy
Record numbers of Wigan people are declaring themselves bankrupt, latest figures reveal. (14/05/2007 10:11:18) (Mon, 14 May 2007 09:15:28 GMT)

News Tweeter Ponders Bankruptcy
electronics retailer is hurt by plunging high-def profits. Washington, D.C. (May 14, 2007) -- Tweeter, which sells high-end HDTVs and other electronics, is considering filing bankruptcy. (Mon, 14 May 2007 10:29:58 GMT)

AHIZQ: Bankruptcy Court Confirms Joint Plan of Reorganization
Allied Holdings, Inc. (AHIZQ) announced that the U.S. Bankruptcy Court for the Northern District of Georgia issued a ruling confirming Allied's Joint Plan of Reorganization filed by Allied, affiliates of Yucaipa and by the Teamsters National Automobile Transportation Industry Negotiating Committee. (Mon, 14 May 2007 12:47:23 GMT)

Global Power Equipment: Stock Performing Well, Despite Bankruptcy
George Spritzer submits: Back on October 3, I posted on an interesting bankruptcy play: Global Power Equipment . James Altucher describes the "buying bankruptcies" strategy in his book "Trade like a Hedge Fund". (Mon, 14 May 2007 19:11:39 GMT)

Court Seals NWA Bankruptcy Report
Northwest Airlines Corp. has made a deal with a group of shareholders that had opposed its bankruptcy reorganization plan, the airline said in a court filing on Monday. More Business News (Mon, 14 May 2007 20:20:00 GMT)

Brazil's small, midsized family farms risk bankruptcy
SAO PAULO (Dow Jones) -- Brazil's small and midsize farms face bankruptcy and many more are leaving farming altogether in favor of renting out their land to wealthier producers, Brazil business daily Gazeta Mercantil reported Monday. (Mon, 14 May 2007 20:29:29 GMT)

Composite Solutions Emerges From Bankruptcy - Quick Facts
(RTTNews) - Composite Solutions, Inc. (CPUT.PK) announced today that it has emerged from bankruptcy reorganization and completed the requirements of its reorganization plan. (Tue, 15 May 2007 00:01:44 GMT)

Digging Out of Debt: Recovering From Bankruptcy
William and Ann Keene were $70,000 in debt. Their last resort was to file bankruptcy. Watch Jocelyn Maner's Story | When Should You File for Bankruptcy? (Tue, 15 May 2007 02:07:41 GMT)

Bankruptcy talk hosted at Riverside County Law Library
The Riverside County Law Library will hold the free public presentation "The ABCs of Individual Bankruptcy" from 7 to 8:30 p.m. today. (Tue, 15 May 2007 06:36:33 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. (Tue, 15 May 2007 07:57:30 GMT)

Job loss' silver lining: a better bankruptcy
Those forced to file a repayment-style bankruptcy because they make too much money can qualify for debt dismissal if family income goes down, says the Bankruptcy Adviser. (Tue, 15 May 2007 10:00:00 GMT)

Bankruptcy is wake-up call for airlines
ATLANTA — Bankruptcy can be a wake-up call for airlines about the need to run their operations more efficiently, but it also can shine a light on a more basic challenge like making customers happy. (Tue, 15 May 2007 10:38:28 GMT)

CPUT: Emerges from Chapter 11 Bankruptcy; Seeks to Compile Info for Past Filings
Composite Solutions, Inc. (CPUT) announced that it has emerged from bankruptcy reorganization and completed the requirements of its reorganization plan. (Tue, 15 May 2007 12:32:46 GMT)

South Texans among creditors as 1031 Tax Group files for bankruptcy
A company that held more than $26 million of South Texas real estate investors' money has filed for bankruptcy. (Tue, 15 May 2007 18:51:53 GMT)

New Century judge rejects bankruptcy trustee
NEW YORK, May 15 (Reuters) - The judge overseeing New Century Financial Corp.'s bankruptcy case on Tuesday rejected a U.S. government motion to name a Chapter 11 trustee for the subprime lender, a lawyer involved in the case said. (Tue, 15 May 2007 19:43:10 GMT)

New Century bankruptcy judge won't oust management
NEW YORK, May 15 (Reuters) - The judge overseeing New Century Financial Corp.'s bankruptcy case rejected a U.S. government motion on Tuesday to oust the subprime lender's management and replace it with a court-appointed trustee, a lawyer involved in the case said. (Tue, 15 May 2007 20:05:44 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, 15 May 2007 22:41:57 GMT)

Brazil's small, midsized family farms risk bankruptcy
SAO PAULO (Dow Jones) -- Brazil's small and midsize farms face bankruptcy and many more are leaving farming altogether in favor of renting out their land to wealthier producers, Brazil business daily Gazeta Mercantil reported Monday. (Wed, 16 May 2007 01:30:19 GMT)

Dickstein Shapiro Launches Bankruptcy Practice
Dickstein Shapiro has recruited a pair of New York bankruptcy lawyers from Orrick, Herrington & Sutcliffe. Partner Arnold Gulkowitz and counsel Brian E. Goldberg will launch a New York bankruptcy practice for Washington, D.C.-based Dickstein Shapiro, which specializes in representing creditors' committees and financial institutions. (Wed, 16 May 2007 04:07:27 GMT)

Firm files bankruptcy owing $151 million
A Virginia company that owes investors in Colorado and elsewhere $151 million and faces a federal inquiry filed for bankruptcy protection this week. (Wed, 16 May 2007 09:06:45 GMT)

Delta's Grinstein on Exiting Bankruptcy
In 2004, Gerald Grinstein came out of retirement to become CEO of Delta Air Lines, just as the company was sinking into a financial crisis. Delta declared bankruptcy in September 2005. Over the next 18 months, Grinstein shepherded the airline through deep cost cutting, including pay cuts for pilots and other employees, along with major route restructurings and a 16 percent reduction in the ... (Wed, 16 May 2007 18:10:35 GMT)

Solutia files amended plan, hoping to exit bankruptcy in months
Solutia Inc., the Town and Country-based maker of chemicals and window films, proposed an amended reorganization plan in hopes of emerging within months from its 3 1/2-year stretch in Chapter 11 bankruptcy. (Thu, 17 May 2007 03:04:45 GMT)

Rumford Energy LLC files for bankruptcy
Rumford Energy LLC, the Concord fuel-oil company that suddenly closed its doors in April, filed yesterday for Chapter 7 bankruptcy. (Thu, 17 May 2007 04:07:44 GMT)

'Filing for bankruptcy isn't always the solution'
For some people with debt problems, their finances eventually get so out of hand that sometimes their only solution is bankruptcy. But navigating through the federal court system can be overwhelming, and that's where bankruptcy attorneys like Linda Hamm come into play. (Thu, 17 May 2007 05:38:06 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, 17 May 2007 12:18:56 GMT)

Closed energy company files for bankruptcy
Associated Press - May 17, 2007 8:35 AM ET Rumford Energy, the Concord fuel-oil company that suddenly closed last month, has filed for bankruptcy. (Thu, 17 May 2007 12:55:57 GMT)

Closed energy company files for bankruptcy
Rumford Energy, the Concord fuel-oil company that suddenly closed last month, has filed for bankruptcy. (Thu, 17 May 2007 12:59:34 GMT)

Nettleton's PeopLoungers files for bankruptcy protection
Associated Press - May 17, 2007 9:34 AM ET An upholstered motion furniture manufacturer in Nettleton has filed Chapter 11 bankruptcy protection citing debts of $$5.7 million. (Thu, 17 May 2007 13:39:33 GMT)

Nettleton's PeopLoungers files for bankruptcy protection
PeopLoungers, a manufacturer of upholstered motion furniture in Nettleton since 1979, has filed Chapter 11 bankruptcy protection, citing debts of $5.7 million to its 20 largest unsecured creditors. (Thu, 17 May 2007 13:47:03 GMT)

Debts, fees could force Rison into bankruptcy court
FLINT - Former Flint Northwestern and NFL star Andre Rison could be forced into bankruptcy because of overdue child support debts. (Thu, 17 May 2007 14:05:09 GMT)

NWA's bankruptcy plan in court
Northwest Airlines reaches the final stages of its plan to resolve its bankruptcy this week. But what is the legacy for the airlines' unions? And does the turbulence in airline industry affect customer service? (Thu, 17 May 2007 15:26:52 GMT)

SRLSQ: Reorganization Plan Becomes Effective; Emerges from Chapter 11 Bankruptcy
SeraCare Life Sciences, Inc. (SRLSQ) announced that its joint plan of reorganization has become effective and SeraCare has emerged from its Chapter 11 bankruptcy proceeding. (Thu, 17 May 2007 19:46:43 GMT)

Milk Processor Makes Bankruptcy Filing Against Dairy
By Adam Bosch, The Times Herald-Record, Middletown, N.Y. May 18--ROCK HILL, N.Y. -- A Pennsylvania milk processor has filed involuntary bankruptcy against Mountain Dairies Inc., based in Rock Hill, for allegedly skipping payment on more than $1 million worth of milk. (Fri, 18 May 2007 00:16:12 GMT)

Roark files for bankruptcy
Charles Roark, the owner of Media Six Corp., has filed for personal bankruptcy. Among the debts listed in the filing is a $75,000 judgment to Martinsville Commonwealth’s Attorney Joan Ziglar. (Fri, 18 May 2007 10:13:59 GMT)

Rumford oil files for bankruptcy
Rumford Energy owed at least $1 million to more than 1,000 people when the business closed without notice last month, according to a partial bankruptcy filing submitted this week by company lawyers. (Fri, 18 May 2007 12:08:46 GMT)

Ruling on Northwest bankruptcy today
USA TODAY writes in today's paper that a bankruptcy judge in New York is to rule today whether Northwest Airlines' reorganization plan should be approved, allowing the airline to emerge from Chapter 11 protection next month. Labor unions opposed the... (Fri, 18 May 2007 14:29:39 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, 18 May 2007 15:53:19 GMT)

Judge OKs Northwest bankruptcy plan
Northwest Airlines received approval on Friday to emerge from bankruptcy, freeing it to move out of court protection from its creditors and into an industry besieged by higher fuel costs and crowded with competitors. (Fri, 18 May 2007 15:54:44 GMT)

Northwest Airlines Wins Court Approval of Bankruptcy Exit Plan
May 18 (Bloomberg) -- Northwest Airlines Corp. won court approval to pay creditors and emerge from 20 months of bankruptcy protection after cutting capacity 10 percent and reducing costs by $2.5 billion a year, largely from worker concessions. (Fri, 18 May 2007 15:55:54 GMT)

Judge OKs bankruptcy exit for Northwest Airlines
Northwest Airlines received approval on Friday to emerge from bankruptcy, freeing it to move out of court protection from its creditors and into an industry besieged by higher fuel costs and crowded with competitors. Eagan, Minn.-based Northwest Airlines, the nation's fifth-largest airline, has spent more than 20 months cutting costs and slashing jobs in its reorganization effort and said it ... (Fri, 18 May 2007 16:56:53 GMT)

Judge OKs bankruptcy exit for Northwest Airlines
Northwest Airlines received approval on Friday to emerge from bankruptcy, freeing it to move out of court protection from its creditors and into an industry besieged by higher fuel costs and crowded with competitors. (Fri, 18 May 2007 17:04:06 GMT)

Northwest gets okay for bankruptcy exit
Federal judge's ruling means airline may soon emerge from Chapter 11 bankruptcy with $2.5 billion in cost savings. (Fri, 18 May 2007 17:28:55 GMT)

Northwest Airlines set to emerge from bankruptcy May 31
Northwest Airlines said Friday it had won court approval for its reorganization plan to allow the carrier to emerge from bankruptcy on May 31. (Fri, 18 May 2007 18:32:06 GMT)

Judge OKs Northwest bankruptcy plan
After 20 months of a wrenching reorganization, Northwest Airlines got approval on Friday to emerge from bankruptcy protection into an industry besieged by higher fuel costs and crowded with competitors. (Fri, 18 May 2007 22:07:20 GMT)

Judge Clears Way for Northwest Airlines to Exit Bankruptcy
Northwest Airlines received approval to emerge from bankruptcy, freeing it to move out of court protection from its creditors. (Sat, 19 May 2007 03:26:36 GMT)

NWA to fly out of bankruptcy
Despite objections from its flight attendants union, Northwest Airlines won court approval of its reorganization plan Friday and pushed up the date it will exit bankruptcy from June to May 31. (Sat, 19 May 2007 06:21:06 GMT)

Northwest clears last hurdle of bankruptcy
NEW YORK -- Northwest Airlines plans to leave bankruptcy protection May 31 after taking 20 months to cut costs -- including wages, planes and debt -- and transform itself from a company that its leaders had called broken into a smaller, stronger airline. (Sat, 19 May 2007 07:08:09 GMT)

Northwest Airlines gets the green light to exit bankruptcy
After 20 months of a wrenching reorganization, Northwest Airlines got approval Friday to emerge from bankruptcy protection into an industry... (Sat, 19 May 2007 07:17:04 GMT)

Northwest Airlines will leave bankruptcy soon
Eagan, Minn.-based Northwest Airlines Corp. announced it would exit bankruptcy on May 31, after Judge Allan Gropper approved its reorganization plan Friday. Northwest, the nation's fifth-largest airline, also plans to announce any post-bankruptcy marketing plans when it emerges. (Sat, 19 May 2007 09:13:07 GMT)

Diocese to sell farm to settle bankruptcy
Associated Press - May 19, 2007 4:04 PM ET DAVENPORT, Iowa (AP) - In its efforts to resolve a Chapter Eleven bankruptcy, the Diocese of Davenport will sell a farm in eastern Iowa for... (Sat, 19 May 2007 20:32:28 GMT)

Northwest gets judge's approval to exit bankruptcy
NEW YORK - After 20 months of a wrenching reorganization, Northwest Airlines got approval on Friday to emerge from bankruptcy protection into an industry besieged by higher fuel costs and crowded with competitors. (Sun, 20 May 2007 06:09:46 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, 20 May 2007 10:13:13 GMT)

Diocese to sell farm to settle bankruptcy
DAVENPORT, Iowa (AP) - In its efforts to resolve a Chapter Eleven bankruptcy, the Diocese of Davenport will sell a farm in eastern Iowa for $$310,000. (Sun, 20 May 2007 14:00:52 GMT)

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