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Home > Bankruptcy News

Bankruptcy News Sep 2007

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Dana Corp. files bankruptcy reorganization plan
NEW YORK -- Dana Corp., a major auto parts supplier, moved a step closer to exiting bankruptcy Friday by filing a reorganization plan that calls for up to $750 million in new... (Sat, 01 Sep 2007 00:21:33 GMT)

Dana Corp. files bankruptcy reorganization plan
NEW YORK (AP) - Dana Corp., a major auto parts supplier, moved a step closer to exiting bankruptcy Friday by filing a reorganization plan that calls for up to US$750 million in new investments in the company, largely from Centerbridge Capital Partners LP, a private equity firm. (Sat, 01 Sep 2007 00:39:42 GMT)

Law firms recruiting bankruptcy specialists
Here's one business group that's delighted with the sudden corporate credit crunch: bankruptcy lawyers. (Sat, 01 Sep 2007 04:07:39 GMT)

Medical technology firm files for bankruptcy
Cardiac Telecom Corp., a medical technology company in Greensburg, on Friday filed for bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code. (Sat, 01 Sep 2007 04:19:51 GMT)

Biotech firm files for bankruptcy
Two weeks after hiring a new chief executive officer, Greensburg biotechnology firm Cardiac Telecom Corp. filed for Chapter 11 bankruptcy protection yesterday, citing a cash problem. ... (Sat, 01 Sep 2007 06:47:30 GMT)

Two Bear Stearns funds denied bankruptcy protection
NEW YORK, September 1 (newratings.com) – A Manhattan bankruptcy judge Thursday denied The Bear Stearns Cos ( BSC.NYS ) bankruptcy protection for two of its hedge funds. (Sat, 01 Sep 2007 23:12:27 GMT)

Delphi finalizes settlement in bankruptcy-related lawsuits
WASHINGTON -- Delphi Corp. has finalized a settlement worth as much as $342.1 million to resolve bankruptcy-related lawsuits brought by employees, retirees and shareholders. (Sun, 02 Sep 2007 06:10:49 GMT)

US Judge Rejects Bear Stearns Hedge Funds' Bankruptcy Plea,
An US federal judge has denied a bankruptcy request from investment bank Bear Stearns in relation to two failed Cayman Island domiciled hedge funds, both victims of the sub-prime mortgage crisis. (Mon, 03 Sep 2007 03:50:14 GMT)

Judge dismisses Cutaia's personal bankruptcy
U.S. Bankruptcy Court Judge Paul Hyman dismissed the $7.8 million personal Chapter 7 filing of former TV and radio host Anthony Cutaia case because Cutaia did not file his statement of monthly income on time. Boca Raton resident Cutaia, whose filing includes debt to investors in his real estate investment companies, cannot file for Chapter 7 protection again until Feb. 24 - 180 days after the ... (Mon, 03 Sep 2007 04:15:05 GMT)

Salud rebounds from bankruptcy to ease overload on hospital’s ER
Salud Para la Gente Inc. has emerged from bankruptcy to become a safety valve for the overloaded emergency room at Watsonville Community Hospital. The administrators behind this financial turnaround say they plan more health initiatives for the poor and uninsured in Watsonville. (Mon, 03 Sep 2007 08:07:54 GMT)

Auto-parts maker files bankruptcy plan
The auto-parts maker is to receive a $750 million investment from a private equity firm and other investors. (Mon, 03 Sep 2007 08:27:32 GMT)

Diocese awaits bankruptcy fate
Sep. 3 (UNION-TRIBUNE): After being threatened with contempt of court and suffering the slings and arrows of a less-than-flattering financial review, the Roman Catholic Diocese of San Diego is on the verge of getting kicked out of bankruptcy court. (Mon, 03 Sep 2007 10:35:57 GMT)

Dana Corp. files bankruptcy plan
NEW YORK (AP) - Dana Corp., a major auto parts supplier, moved a step closer to exiting bankruptcy Friday by filing a reorganization plan that calls for up to $750 million in new investments in the company, largely from Centerbridge Capital Partners LP, a private equity firm. (Mon, 03 Sep 2007 10:52:30 GMT)

NCSU, Others Help Students Caught in Bankruptcy of Training Firm
RALEIGH — Ultimately, it was a lesson learned the hard way for students across the country who were counting on a new career in the computer industry as promised by Charlotte-based Solid Computer Decisions (SCD). (Mon, 03 Sep 2007 11:42:32 GMT)

Bankruptcy and distressed debt
A legal cloud has been partly lifted from the $500bn US distressed debt market at a particularly opportune time for investors hovering around the wreckage left by the subprime mortgage crisis. (Tue, 04 Sep 2007 10:53:26 GMT)

Opposition politician Chee Soon Juan loses appeal, now faces jail
SINGAPORE: Opposition politician Chee Soon Juan will be jailed after refusing to pay a fine slapped on him for violating the Bankruptcy Act. (Tue, 04 Sep 2007 11:47:04 GMT)

Dana Corp. files bankruptcy reorganization plan
NEW YORK (AP) - Dana Corp., a major auto parts supplier, moved a step closer to exiting bankruptcy Friday by filing a reorganization plan that calls for up to US$750 million in new investments in the company, largely from Centerbridge Capital Partners LP, a private equity firm. (Tue, 04 Sep 2007 12:56:39 GMT)

Bankruptcy court sides with Motorola
Judge rules that the communications company cannot be forced by creditors of once-bankrupt satellite system Iridium to pay damages. (Tue, 04 Sep 2007 16:17:21 GMT)

Krispy Kreme franchisee files for bankruptcy
The franchise operator of five Krispy Kreme doughnut shops in metro St. Louis has filed for Chapter 11 bankruptcy protection. Des Peres-based Sweet Traditions LLC said it decided to reorganize after evaluating all options to restructure its debt, legal liabilities and lease-related issues. (Tue, 04 Sep 2007 20:31:16 GMT)

Illinois Krispy Kreme franchisee files bankruptcy
The Krispy Kreme franchisee for Illinois filed for Chapter 11 bankruptcy today, and said it plans to close about half of its 15 Chicago area stores as it reorganizes under court protection. (Tue, 04 Sep 2007 20:40:31 GMT)

Krispy Kreme files for bankruptcy in Illinois
The Illinois franchise for Krispy Kreme doughnuts has filed for chapter 11 bankruptcy protection. (Tue, 04 Sep 2007 23:29:48 GMT)

AHM gets bankruptcy backing
American Home Mortgage won final court approval Tuesday to borrow $50 million to finance its Chapter 11 bankruptcy liquidation. (Tue, 04 Sep 2007 23:36:37 GMT)

Local owner of Krispy Kreme franchises files for bankruptcy
The franchise operator of five Krispy Kreme doughnut shops in the St. Louis area has filed for bankruptcy, but the company doesn't expect any impact on local daily operations. (Wed, 05 Sep 2007 04:04:07 GMT)

(AFX UK Focus) 2007-09-05 05:31 GMT: Indonesia govt to appeal bankruptcy ruling on Dirgantara to Supreme Court
JAKARTA (Thomson Financial) - The government will appeal the Jakarta commercial court's bankruptcy ruling on state-owned aircraft maker PT Dirgantara Indonesia to the Supreme Court, State Enterprise Minister Sofyan Djalil said. (Wed, 05 Sep 2007 05:05:28 GMT)

New York: Manhattan: Hospital Group Clears Its Debt
Two years after filing for bankruptcy under the strain of mounting debt, St. Vincent Catholic Medical Centers announced yesterday that it had managed to climb out of its financial hole. A federal court lifted the hospital company’s Chapter 11 status and approved a new financial plan on Friday, St. Vincent said. The move came as St. Vincent, which operates a hospital in Greenwich Village, a ... (Wed, 05 Sep 2007 06:21:21 GMT)

Area bankruptcy filings up 29% from August, ’06
Area bankruptcy filings were up 29 percent last month over the same period a year ago, although they rose less than 1 percent from July. (Wed, 05 Sep 2007 09:54:46 GMT)

Judge kicks Zoomers out of bankruptcy protection
A federal judge kicked Zoomers Family Amusement Park out of bankruptcy protection today — giving the almost-complete attraction in south Fort Myers... (Wed, 05 Sep 2007 19:09:29 GMT)

Cutaia bankruptcy filing reinstated
The bankruptcy court judge who dismissed Boca Raton real estate investment manager Anthony Cutaia's Chapter 11 filing reversed himself and reinstated the case after a "clerical error." (Wed, 05 Sep 2007 20:33:33 GMT)

Doughnut parent co. files for bankruptcy
PEORIA -- Krispy Kreme's parent company filed for Chapter 11 bankruptcy Tuesday. (Wed, 05 Sep 2007 20:40:13 GMT)

Bankruptcy administrator files suit on behalf of hostpital's creditors
The plan administrator for Brownsville General Hospital's bankruptcy filed suits against 29 creditors paid nearly $1 million shortly before the facility filed for bankruptcy in January 2006. (Thu, 06 Sep 2007 04:06:47 GMT)

Crucial hearing postponed in diocese bankruptcy case
SAN DIEGO -- A crucial hearing over the fate of a bankruptcy case filed by the Roman Catholic bishop of San Diego is on hold for a week, amid reports that settlement talks are heating up with dozens who want the diocese to pay for alleged sex abuse by priests. (Thu, 06 Sep 2007 04:56:55 GMT)

St. Vincent hospitals out of bankruptcy
Saint Vincent Catholic Medical Centers, which runs a mental health and substance abuse center in Harrison, is out of bankruptcy protection. (Thu, 06 Sep 2007 06:45:02 GMT)

Bankruptcy Judge Dabs With San Diego Diocese
When the Roman Catholic Diocese of San Diego filed for bankruptcy six months ago, it hoped to find shelter from potentially embarrassing and costly lawsuits from people claiming they were sexually abused by priests. (Thu, 06 Sep 2007 07:45:00 GMT)

Saint Vincent touts fiscal health after bankruptcy
STATEN ISLAND ADVANCE -- Saint Vincent Catholic Medical Centers has emerged from a two-year period of bankruptcy, with system officials saying the streamlined organization is now better able to serve its clients, including those on Staten Island who use St. Elizabeth Ann's Health Care and Rehabilitation Center and other facilities. (Thu, 06 Sep 2007 12:29:39 GMT)

USW Supporting Overhaul of Corporate Bankruptcy Law for Workers
WASHINGTON----News From USW: Fred Redmond, International vice president of the United Steelworkers testified today before a U.S. House subcommittee on the need for an overhaul of the corporate bankruptcy law to provide fairness for America's active and retired workers, while requiring accountability of employers and the courts. (Thu, 06 Sep 2007 14:29:00 GMT)

Bankruptcy Hearing For Diocese Thursday
A hearing is scheduled Thursday to determine if the San Diego Catholic Diocese should lose its bankruptcy protection in the alleged sexual abuse scandal. (Thu, 06 Sep 2007 14:58:49 GMT)

Delphi signs settlement with General Motors in bankruptcy case
DETROIT (AP) - Delphi Corp. announced Thursday it has signed comprehensive settlement and restructuring agreements with former parent General Motors Corp. - a major milestone in its nearly two-year quest to emerge from bankruptcy protection. (Thu, 06 Sep 2007 20:55:01 GMT)

Monthly bankruptcy filings top 1,000 mark
Bankruptcy filings in Arizona hit their highest level of the year last month. (Thu, 06 Sep 2007 21:05:44 GMT)

Delphi signs settlement with General Motors, files bankruptcy reorganization plan
Jeff Karoub September 6, 2007 - 7:54 p.m. DETROIT (AP) - Delphi Corp. announced Thursday it has signed settlement and restructuring agreements with former parent General Motors Corp., clearing a major obstacle to its emergence from bankruptcy protection. (Fri, 07 Sep 2007 00:10:01 GMT)

Crucial hearing postponed in diocese bankruptcy case
SAN DIEGO -- A crucial hearing over the fate of a bankruptcy case filed by the Roman Catholic bishop of San Diego is on hold for a week, amid reports that settlement talks are heating up with dozens who want the diocese to pay for alleged sex abuse by priests. (Fri, 07 Sep 2007 03:26:45 GMT)

Pact with GM aids Delphiin plan to exit bankruptcy
Automotive-parts supplier Delphi said yesterday that it reached a definitive agreement with former parent and main customer General Motors and will file its reorganization plan and disclosure statement -- moves aimed at exiting bankruptcy -- by the end of the year. (Fri, 07 Sep 2007 10:01:43 GMT)

Parks File for Bankruptcy
You must be a member to add a comment! A lawyer says Florida's Cypress Gardens and its sister amusement park in Georgia will be sold later this month at an auction as part of their parent company's pending Chapter Eleven bankruptcy case. (Fri, 07 Sep 2007 12:22:11 GMT)

3 N.H. Mayoral Candidates Declared Bankruptcy
Three candidates vying to become Nashua's next mayor once found themselves in such financial hardship they were forced to declare bankruptcy, according to federal court records. More New Hampshire News (Fri, 07 Sep 2007 14:03:00 GMT)

Some of Nashua's mayoral candidates had filed for bankruptcy
Three candidates vying to become Nashua's next mayor once found themselves in such financial hardship they were forced to declare bankruptcy, according to federal court records. (Fri, 07 Sep 2007 14:15:44 GMT)

Creator of Backstreet Boys, 'N Sync loses Orlando home in bankruptcy
ORLANDO -- Boy band mogul Lou Pearlman is losing his lakefront Orlando home and a New Jersey condominium in bankruptcy proceedings, as he faces separate federal charges of defrauding a bank out of $20 million. (Fri, 07 Sep 2007 14:42:23 GMT)

Life After Bankruptcy
After her husband's death, Louise Tripplett found herself alone with four children, while bills poured in faster than she could pay them. "The bills amounted to more money than I had coming in," she explains. Tripplett decided filing for bankruptcy was the best option. (Fri, 07 Sep 2007 17:33:00 GMT)

Lou Pearlman loses his property in bankruptcy
Backstreet Boys and 'N Sync's creator is losing homes in Florida and New Jersey in bankruptcy proceedings. A bankruptcy judge Thursday approved the $7.1 million sale of Lou Pearlman 's homes. (Fri, 07 Sep 2007 20:08:10 GMT)

IWT Tesoro Files for Bankruptcy
IWT Tesoro Corp., a ceramic-tile seller, has sought Chapter 11 bankruptcy protection, weighed down by its high debt load and a declining housing market in Florida that has cooled demand for flooring and building materials. (Fri, 07 Sep 2007 21:34:34 GMT)

Pearlman Loses Two Homes In Bankruptcy Case
A bankruptcy judge has approved the sale of boy band svengali LOU PEARLMAN's homes in Orlando, Florida and Atlantic City, New Jersey. The 53-year-old (Sat, 08 Sep 2007 00:44:48 GMT)

Boy-band mogul loses Florida home in bankruptcy
ORLANDO - THE man who created the boy bands the Backstreet Boys and 'N Sync is losing homes in Florida and New Jersey in bankruptcy proceedings, as he faces separate US charges of defrauding a bank out of US$20 million (S$30.5 million). (Sat, 08 Sep 2007 01:39:44 GMT)

GM deal to help Delphi escape from bankruptcy
Delphi Corp. announced last week it has signed settlement and restructuring agreements with former parent General Motors Corp., clearing a major obstacle to its emergence from bankruptcy protection. (Sun, 09 Sep 2007 07:15:31 GMT)

Dana files its map to exit bankruptcy
If executives have their way, Dana Corp. will emerge from Chapter 11 bankruptcy late this year or in early 2008 as a transformed company. (Sun, 09 Sep 2007 09:24:42 GMT)

How did Norman Hsu become such a big donor to Democrats?
Files offer a glimpse into the finances of a Hong Kong native who went from bankruptcy and a fraud conviction to being a big fund-raiser for Democrats, including Hillary Clinton. (Sun, 09 Sep 2007 13:15:10 GMT)

How did Norman Hsu become such a big donor to Democrats?
Files offer a glimpse into the finances of a Hong Kong native who went from bankruptcy and a fraud conviction to being a big fund-raiser for Democrats, including Hillary Clinton. (Sun, 09 Sep 2007 13:15:10 GMT)

Security Aviation bankruptcy case takes on new status
Attorneys for U.S. Bankruptcy Court trustees entered motions to place the Security Aviation case into Chapter 7 liquidation during an Aug. 22 hearing. (Sun, 09 Sep 2007 23:51:54 GMT)

Leading Houston Bankruptcy and Family Law Firm Busby & Lee Address Vulnerabilities in Recent Bankruptcy Reform, ...
As single mom cashes out retirement to save home and goes from victim to accused, Busby & Lee step up efforts to educate clients, spotlight flaws in bankruptcy legislation. (PRWeb Sep 10, 2007) (Mon, 10 Sep 2007 07:08:36 GMT)

Delphi deal paves way for end to bankruptcy
AccountancyAge.com, Accountancy Age , Monday 10 September 2007 at 00:00:00 Agreements reached with former parent, GM Delphi, the US car parts manufacturer, may soon emerge from a two year stint under Chapter 11 bankruptcy protection after reaching agreements with its former parent company, General Motors (GM).... > Read the full article (Mon, 10 Sep 2007 08:12:14 GMT)

Delphi deal paves way for end to bankruptcy
AccountancyAge.com, Accountancy Age , Monday 10 September 2007 at 00:00:00 Agreements reached with former parent, GM Delphi, the US car parts manufacturer, may soon emerge from a two year stint under Chapter 11 bankruptcy protection after reaching agreements with its former parent company, General Motors (GM).... (Mon, 10 Sep 2007 09:20:30 GMT)

Spokane diocese bankruptcy lawyers seek closed proceedings on fees
Associated Press - September 10, 2007 8:35 AM ET SPOKANE, Wash. (AP) - Bankruptcy lawyers who have billed the Roman Catholic Diocese of Spokane are asking that proceedings on their fees be... (Mon, 10 Sep 2007 12:37:09 GMT)

Church bankruptcy suit
SPOKANE, Wash.- Bankruptcy lawyers, who have billed the Roman Catholic Diocese of Spokane, are asking that proceedings on their fees be closed to the public. (Mon, 10 Sep 2007 12:56:33 GMT)

Spokane diocese bankruptcy lawyers seek closed proceedings on fees
Bankruptcy lawyers who have billed the Roman Catholic Diocese of Spokane are asking that proceedings on their fees be closed to the public. At issue is more than ten million million dollars the lawyers are seeking for their work. The case stems from a $48 million settlement to resolve claims of sexual abuse by priests decades ago. In ten days, lawyers for Bishop William Skylstad and for people ... (Mon, 10 Sep 2007 13:06:16 GMT)

Tarragon deal with GECC helps eliminate near-term bankruptcy threat; future asset sales to boost value, CEO says
Please email [email protected] or call us at Americas : +1 212-686-5374 Europe : +44 (0)20 7059 6113 Asia-Pacific : +852 2158 9731 for further information on Debtwire and how to receive more articles like the one below. (Mon, 10 Sep 2007 14:04:51 GMT)

Bell Boyd Expands Bankruptcy Practice
Bell, Boyd & Lloyd LLP has expanded its bankruptcy practice with the addition of eight attorneys who have joined the firm from Freeborn & Peters LLP. Harley J. Goldstein who has been noted for his skill as counsel in some of the nation's highest profile corporate insolvency proceedings, will chair Bell Boyd's Bankruptcy and Restructuring Group. (Mon, 10 Sep 2007 21:50:00 GMT)

Collinsville man sentenced to a year for bankruptcy fraud
Associated Press - September 10, 2007 9:15 PM ET TULSA, Okla. (AP) - A Collinsville man was sentenced to a year in prison and three years of supervised release today for bankruptcy... (Tue, 11 Sep 2007 01:26:32 GMT)

Collinsville man sentenced to a year for bankruptcy fraud
Associated Press - September 10, 2007 9:15 PM ET TULSA, Okla. (AP) - A Collinsville man was sentenced to a year in prison and three years of supervised release today for bankruptcy... (Tue, 11 Sep 2007 01:26:32 GMT)

Collinsville man sentenced to a year for bankruptcy fraud
TULSA, Okla. (AP) - A Collinsville man was sentenced to a year in prison and three years of supervised release today for bankruptcy fraud. Joseph L. Marinari was charged with knowingly and fraudulently making a false statement in connection with a filing in federal bankruptcy court in Tulsa. (Tue, 11 Sep 2007 01:28:54 GMT)

Collinsville man sentenced to a year for bankruptcy fraud
TULSA, Okla. (AP) - A Collinsville man was sentenced to a year in prison and three years of supervised release today for bankruptcy fraud. Joseph L. Marinari was charged with knowingly and fraudulently making a false statement in connection with a filing in federal bankruptcy court in Tulsa. (Tue, 11 Sep 2007 01:28:54 GMT)

Man Sentenced To Prison For Bankruptcy Fraud
TULSA, Okla. (AP) _ A Collinsville man has been sentenced to a year in prison and three years of supervised release for bankruptcy fraud. Joseph L. Marinari was charged with knowingly and fraudulently making a false statement in connection with a filing in federal bankruptcy court in Tulsa. (Tue, 11 Sep 2007 11:48:37 GMT)

Man Sentenced To Prison For Bankruptcy Fraud
TULSA, Okla. (AP) _ A Collinsville man has been sentenced to a year in prison and three years of supervised release for bankruptcy fraud. Joseph L. Marinari was charged with knowingly and fraudulently making a false statement in connection with a filing in federal bankruptcy court in Tulsa. (Tue, 11 Sep 2007 11:48:37 GMT)

ATA is still losing money post-bankruptcy
ATA Airlines is still losing money nearly 18 months after exiting bankruptcy, the Indianapolis Business Journal (IBJ) reports. The airline's parent company -– now known as Global Aero Logistics (GAL) following its acquisition of the World Air Group –- lost... (Tue, 11 Sep 2007 18:08:42 GMT)

Judge OKs Custom Food Bankruptcy Plan
A judge has approved Custom Food Products Inc.'s Chapter 11 plan, clearing the way for the meat processor to exit bankruptcy protection under the control of a Connecticut hedge fund. (Tue, 11 Sep 2007 18:29:57 GMT)

Bankruptcy judge denies NWA lawyer bonuses
NEW YORK - Bankruptcy lawyers for Northwest Airlines were denied $4.2 million in end-of-case bonuses Tuesday, and a judge said their average rates of about $500 an hour had provided adequate compensation. U.S. Bankruptcy Judge Allan Gropper rejected a $3.5 million bonus for Northwest Airlines' lead law firm, Cadwalader, Wickersham & Taft, which ushered the airline out of bankruptcy in May. A law ... (Tue, 11 Sep 2007 19:42:24 GMT)

Judge denies US$4.2 million in bonuses for Northwest bankruptcy lawyers
Vinnee Tong September 11, 2007 - 4:27 p.m. NEW YORK (AP) - Bankruptcy lawyers for Northwest Airlines Corp. were denied US$4.2 million in end-of-case bonuses Tuesday, with a judge saying their average rates of about $500 an hour had already provided adequate compensation. (Tue, 11 Sep 2007 20:39:42 GMT)

Bankruptcy Judge Gives Running Horse an Extension
On Tuesday, a bankruptcy judge decided to give the owners of Running Horse two more weeks to reach a deal with a new developer. (Tue, 11 Sep 2007 21:08:10 GMT)

Judge denies $4.2M in bonuses for Northwest bankruptcy lawyers
NEW YORK - Bankruptcy lawyers for Northwest Airlines Corp. were denied $4.2 million in end-of-case bonuses today, with a judge saying their average rates of about $500 an hour had already provided adequate compensation. (Tue, 11 Sep 2007 21:34:28 GMT)

Judge Denies $4.2M in Bonuses for Northwest Bankruptcy Lawyers
Bankruptcy lawyers for Northwest Airlines Corp. were denied $4.2 million in end-of-case bonuses Tuesday, with a judge saying their average rates of about $500 an hour had already provided adequate compensation. U.S. Bankruptcy Judge Allan Gropper said that for the attorneys to deserve a so-called fee enhancement, their work should have a remarkable result that couldn't be expected from lawyers ... (Wed, 12 Sep 2007 04:10:29 GMT)

Bonuses denied for 2 law firms in NWA bankruptcy
Two law firms involved with Northwest Airlines' bankruptcy case were denied end-of-case bonuses Tuesday, with a judge deciding that the hourly rates they were paid had already provided fair compensation. (Wed, 12 Sep 2007 07:33:46 GMT)

Judge denies $4.2 million in bonuses for NWA bankruptcy lawyers
Bankruptcy lawyers for Northwest Airlines were denied $4.2 million in end-of-case bonuses Tuesday, with a judge saying their average rates of about $500 an hour had already provided adequate compensation. (Wed, 12 Sep 2007 12:04:30 GMT)

Judge denies $4.2 million in bonuses for NWA bankruptcy lawyers
NEW YORK (AP) - A judge has denied more than $4 million in end-of-case bonuses for lawyers who represented Northwest Airlines in its bankruptcy case. U.S. Bankruptcy Judge Allan Gropper said their average rates of about $500 an hour had already provided adequate compensation. (Wed, 12 Sep 2007 13:10:01 GMT)

Judge denies bonuses for NWA bankruptcy lawyers
NEW YORK -- Bankruptcy lawyers for Northwest Airlines Corp. were denied $4.2 million in end-of-case bonuses Tuesday, with a judge saying their average rates of about $500 an hour had already provided adequate compensation. U.S. Bankr (Wed, 12 Sep 2007 15:16:46 GMT)

Judge denies $4.2 million in bonuses for NWA bankruptcy lawyers
Lawyers from two law firms that helped Northwest with its Chapter 11 bankruptcy case were denied in their requests for hefty end-of-case bonuses. Judge Allan Gropper of the U.S. Bankruptcy Court said the lawyers' average rates of about $500 an... (Wed, 12 Sep 2007 17:20:00 GMT)

Changes to Bankruptcy Code Simplify Preferential Payment Defenses
Defending preferential payments has traditionally been a complicated process for creditors involved in bankruptcy cases. However, significant amendments to section 547 of the U.S. Bankruptcy Code have turned the tide, according to Dorene Robotti, a Managing Director of Clear Thinking Group LLC, headquartered here. (Wed, 12 Sep 2007 17:42:00 GMT)

Federal Bankruptcy Judge Rules for Change of Control in ICC Case
HERNDON, Va.----On Friday, September 7, 2007, U.S. Bankruptcy Court Judge Judith K. Fitzgerald ruled to turn control of Innovative Communication Corporation over to court-appointed Trustee Stan Springel. (Wed, 12 Sep 2007 19:31:00 GMT)

Judge Tells NWA Bankruptcy Lawyers They've Earned Enough
Denies Bonuses For Two Firms It isn't often we get to report on lawyers NOT receiving large amounts of money. Two law firms involved in Northwest Airlines' Chapter 11 bankruptcy case were denied bonuses Tuesday, as the judge said the firms had already earned more than enough. (Thu, 13 Sep 2007 09:09:22 GMT)

Trash hauler says bankruptcy won't affect service
The long-troubled company that disposes of Westland's trash has filed a Chapter 11 plan to reorganize in U.S. Bankruptcy Court in Detroit. (Thu, 13 Sep 2007 11:06:22 GMT)

Bonuses Denied for 2 Law Firms in NWA Bankruptcy
Sep. 12 -- Two law firms involved with Northwest Airlines' bankruptcy case were denied end-of-case bonuses Tuesday, with a judge deciding that the hourly rates they were paid had already provided fair compensation. (Thu, 13 Sep 2007 14:39:50 GMT)

Delphi seeks approval from bankruptcy court to pay late bonuses
WASHINGTON – Auto-parts supplier Delphi Corp. is seeking approval from the bankruptcy court to pay up to $37.6 million in bonuses to more than 400 executives for the second half of 2007 – a plan that consistently has angered union workers. (Fri, 14 Sep 2007 04:14:44 GMT)

End to Pittsburgh Brewing's bankruptcy on horizon
Pittsburgh Brewing Co.'s long stay in bankruptcy could end Monday when its sale is expected to be completed to a group of private investors who promise to revitalize the maker of Iron City, IC Light and Augustiner brands. (Fri, 14 Sep 2007 04:17:40 GMT)

Bankruptcy court OKs Kara Homes reorganization plan
WASHINGTON -- A bankruptcy judge has confirmed the reorganization plan of Kara Homes, enabling the once-leading builder to exit Chapter 11 protection as a smaller company controlled by a Connecticut hedge fund and a New Jersey developer. (Fri, 14 Sep 2007 08:16:50 GMT)

Race car driver files bankruptcy
The driver of a modified race car that plowed into a Selmer parade crowd in June has filed for bankruptcy protection in Texas. (Fri, 14 Sep 2007 10:32:28 GMT)

Credia Files for Bankruptcy With Debts of 75.8 Billion Yen
Sept. 14 (Bloomberg) -- Credia Co., the Japanese consumer lender partly owned by the nation's biggest credit card firm, filed for bankruptcy protection today with 75.8 billion yen ($658 million) of liabilities. (Fri, 14 Sep 2007 10:39:24 GMT)

Credia Files for Bankruptcy With Debts of 75.8 Billion Yen
Sept. 14 (Bloomberg) -- Credia Co., the Japanese consumer lender partly owned by the nation's biggest credit card firm, filed for bankruptcy protection today with 75.8 billion yen ($658 million) of liabilities. (Fri, 14 Sep 2007 10:39:24 GMT)

York County probate judge files for bankruptcy
A York County probate judge who was censured for violating the Maine Code of Judicial Conduct has filed for bankruptcy. (Fri, 14 Sep 2007 11:31:41 GMT)

York County probate judge files for bankruptcy
A York County probate judge who was censured for violating the Maine Code of Judicial Conduct has filed for bankruptcy. (Fri, 14 Sep 2007 11:31:41 GMT)

Driver in deadly car show files for bankruptcy protection
The driver in a deadly car show crash in Selmer has filed for bankruptcy protection in Texas. (Fri, 14 Sep 2007 13:40:23 GMT)

Driver in deadly car show files for bankruptcy protection
The driver in a deadly car show crash in Selmer has filed for bankruptcy protection in Texas. (Fri, 14 Sep 2007 13:40:23 GMT)

Driver in deadly car show files for bankruptcy protection
JACKSON, Tenn. (AP) - The driver in a deadly car show crash in Selmer, Tennessee, has filed for bankruptcy protection in Texas. Troy Warren Critchley filed for Chapter 7 bankruptcy in federal court last week. (Fri, 14 Sep 2007 13:57:28 GMT)

Driver in deadly car show files for bankruptcy protection
JACKSON, Tenn. (AP) - The driver in a deadly car show crash in Selmer, Tennessee, has filed for bankruptcy protection in Texas. Troy Warren Critchley filed for Chapter 7 bankruptcy in federal court last week. (Fri, 14 Sep 2007 13:57:28 GMT)

Driver in deadly car show files for bankruptcy protection
Associated Press - September 14, 2007 9:45 AM ET JACKSON, Tenn. (AP) - The driver in a deadly car show crash in Selmer, Tennessee, has filed for bankruptcy protection in Texas. (Fri, 14 Sep 2007 13:58:35 GMT)

Driver in deadly car show files for bankruptcy protection
Associated Press - September 14, 2007 9:45 AM ET JACKSON, Tenn. (AP) - The driver in a deadly car show crash in Selmer, Tennessee, has filed for bankruptcy protection in Texas. (Fri, 14 Sep 2007 13:58:35 GMT)

Driver in Selmer car show crash files for bankruptcy
The driver in a Selmer car show crash that killed six people has filed for bankruptcy in Texas. (Fri, 14 Sep 2007 14:36:44 GMT)

Racer in parade tragedy seeks bankruptcy
A drag racer being sued for millions of dollars after his car plowed into a parade crowd, killing six people and injuring dozens more, has filed for bankruptcy protection, records show. (Fri, 14 Sep 2007 21:46:41 GMT)

Update: SCO seeks bankruptcy protection
With its cash reserves running out, the SCO Group Inc. has filed for bankruptcy protection. (Sat, 15 Sep 2007 00:11:16 GMT)

SCO Group files for bankruptcy
The SCO Group Inc., licenser of the Unix operating system, filed for bankruptcy protection Friday, drained by unsuccessfully filing lawsuits claiming its software code was misappropriated by developers of the open-source Linux operating system. (Sat, 15 Sep 2007 00:44:51 GMT)

SCO, a Software Maker, Is Seeking Bankruptcy
The SCO Group, the software maker that sued I.B.M. for copyright infringement, filed for bankruptcy yesterday, 10 days after conceding that much of the case should be dropped. (Sat, 15 Sep 2007 04:22:00 GMT)

SCO, a Software Maker, Is Seeking Bankruptcy
The SCO Group, the software maker that sued I.B.M. for copyright infringement, filed for bankruptcy yesterday, 10 days after conceding that much of the case should be dropped. (Sat, 15 Sep 2007 04:22:00 GMT)

SCO files for bankruptcy
The SCO Group Inc., on the eve of a court trial on remaining intellectual property issues it has with Novell Inc., filed for Chapter 11 bankruptcy protection on Friday. (Sat, 15 Sep 2007 06:56:46 GMT)

Unix licenser files for bankruptcy
The SCO Group, licenser of the Unix operating system, filed for bankruptcy protection, drained by unsuccessfully filing lawsuits claiming its software code was misappropriated by developers of the open-source Linux operating system. (Sat, 15 Sep 2007 07:45:01 GMT)

SCO Group Files for a "Reorganization" Bankruptcy
'Chapter 11 reorganization provides the company with an opportunity to protect its assets during this time while focusing on building our future plans,' said Darl McBride, president and CEO of Lindon, Utah-based SCO Group in a statement accompanying the company's voluntary petition for reorganization under Chapter 11 of the United States Bankruptcy Code. (Sat, 15 Sep 2007 09:14:27 GMT)

Contractor filed for bankruptcy six times
Five bankruptcy filings for Joe Salvatico, one of the brothers accused in a contracting scam, were unsuccessful. (Sat, 15 Sep 2007 12:02:24 GMT)

SCO Starts Down Bankruptcy Protection Path
The SCO Group, licenser of the Unix operating system, filed for bankruptcy protection Friday, drained by unsuccessfully filing lawsuits claiming its software code was misappropriated by developers of the open source Linux operating system. The Lindon, Utah, company said it is seeking protection from creditors under Chapter 11 as it continues to license and improve Unix for corporate servers. (Sat, 15 Sep 2007 12:07:22 GMT)

Death crash drag racer files for bankruptcy protection
Australian drag racer Troy Critchley has filed for bankruptcy protection, following a high-speed crash that killed six people. (Sat, 15 Sep 2007 14:41:09 GMT)

Death crash drag racer files for bankruptcy protection
Australian drag racer Troy Critchley has filed for bankruptcy protection, following a high-speed crash that killed six people. (Sat, 15 Sep 2007 14:41:09 GMT)

SCO Declares Bankruptcy
With its cash reserves running out, the SCO Group Inc. has filed for bankruptcy protection. (Sat, 15 Sep 2007 15:00:00 GMT)

Kentucky Breeder files Chapter 11 bankruptcy
A top thoroughbred breeder in Kentucky has filed for bankruptcy protection, listing nearly $70 million in debts and more than 300 creditors. ClassicStar LLC filed for Chapter eleven bankruptcy Friday in Lexington. Many of its top creditors were investors who are suing the company. Former investors have sued ClassicStar, ClassicStar Farms and parent company GeoStar in five states over its mare ... (Sat, 15 Sep 2007 17:00:51 GMT)

SCO Group files for bankruptcy
The SCO Group Inc, licenser of the Unix operating system, filed for bankruptcy protection, drained by unsuccessfully filing lawsuits claiming its software code was misappropriated by developers of the open-source Linux OS (Sun, 16 Sep 2007 03:10:57 GMT)

Embattled United States tech firm, licenser of Unix operating system, files for bankruptcy
SALT LAKE CITY -- The SCO Group Inc., licenser of the Unix operating system, filed for bankruptcy protection, drained by unsuccessfully filing lawsuits claiming its software code was misappropriated by developers of the open-source Linux operating system. (Sun, 16 Sep 2007 03:19:28 GMT)

Unix company files for bankruptcy
Unix-focused SCO Group has filed for Chapter 11 in the United States. In a press release today, the company said it had filed a voluntary petition for reorganisation under Chapter 11 of the US Bankruptcy Code. (Mon, 17 Sep 2007 03:29:54 GMT)

Legal tussles send biotech to bankruptcy
A long-running legal battle between an Alameda biotech and one of its founders is reaching a new level: bankruptcy court. (Mon, 17 Sep 2007 04:35:11 GMT)

Arriva Pharmaceuticals seeking protection in bankruptcy
Arriva Pharmaceuticals Inc., a privately held Alameda drug developer, filed for bankruptcy Aug. 29 in a bid to escape long-running legal woes and move its potentially lucrative respiratory therapies toward market. (Mon, 17 Sep 2007 04:35:21 GMT)

Simms building loan in default as owner files bankruptcy
The future of Downtown's landmark Simms building is in limbo. Owner Troy Baillio has filed for bankruptcy, and is considering offers to sell the building while scrambling to finance it. (Mon, 17 Sep 2007 04:35:51 GMT)

SCO Group files for bankruptcy protection
Three and a half years after launching a high-profile legal attack on Linux, The SCO Group has filed for Chapter 11 bankruptcy protection. (Mon, 17 Sep 2007 07:22:33 GMT)

Suspense builds ahead of SCO's bankruptcy hearing
ON TUESDAY MORNING , SCO will appear before Judge Kevin Gross in US Bankruptcy Court of Delaware for the first time. (Mon, 17 Sep 2007 10:27:09 GMT)

Suspense builds ahead of SCO's bankruptcy hearing
ON TUESDAY MORNING , SCO will appear beforeJudge Kevin Gross in US Bankruptcy Court of Delaware for the first time. (Mon, 17 Sep 2007 10:59:58 GMT)

ClassicStar Files for Bankruptcy Protection
ClassicStar LLC has filed for bankruptcy protection under Chapter 11, listing nearly $70 million in debts and more than 300 creditors. (Mon, 17 Sep 2007 13:54:48 GMT)

The Staubach Company Represents US Bankruptcy Court and US Trustees Services in Lease Renewal
Staubach, Los Angeles, a leading global real estate advisory firm has represented the US Bankruptcy Court and US Trustees Services in renewing its Woodland Hills leases. (Mon, 17 Sep 2007 14:30:00 GMT)

SCO files for bankruptcy
The SCO Group has filed for Chapter 11 bankruptcy after continuing to struggle in the market amid its expensive legal battle against the likes of Novell and IBM over the development of Linux. (Mon, 17 Sep 2007 14:53:42 GMT)

Sentinel bankruptcy lists $2 billion in assets
Sentinel Management Group Inc., the Northbrook-based cash management firm that filed for bankruptcy last month only days after freezing client withdrawals, has about $2 billion in assets, according to a filing in its Chapter 11 case. (Mon, 17 Sep 2007 15:34:30 GMT)

Bally expects to emerge from bankruptcy this month
Bally Total Fitness Holding Corp. said Monday that the U.S. Bankruptcy Court for the Southern District of New York has approved the Chicago fitness chain's amended "prepackaged" Chapter 11 Bankruptcy reorganization plan, and that as a result Bally's expects to emerge from bankruptcy "by the end of September." (Mon, 17 Sep 2007 18:19:40 GMT)

Viragen subsidiary files bankruptcy
Viragen and its majority-owned subsidiary, Viragen International, announced that Viragen International's wholly owned subsidiary, Umea, Sweden-based ViraNative AB, filed an application seeking protection under the bankruptcy laws of Sweden. (Mon, 17 Sep 2007 20:38:35 GMT)

Pacific Lumber to File Bankruptcy Plan
Pacific Lumber Co. said Monday that it will file its bankruptcy-exit plan by the end of September to comply with the ruling of a judge who declined to give the company a deadline extension. (Mon, 17 Sep 2007 21:33:47 GMT)

Daughter of Jacobs files for bankruptcy
The daughter of Twin Cities businessman Irwin Jacobs has filed for Chapter 7 liquidation under federal bankruptcy rules with Jacobs identified as the largest secured creditor. In the Texas bankruptcy filing, Randi Lebowitz, who now lives in Dallas, lists assets totaling $3.1 million and liabilities of nearly $3.6 million. The largest liability is a block of shares in Jacobs' Genmar Holdings, the ... (Tue, 18 Sep 2007 00:15:18 GMT)

AEXJet files for bankruptcy
Financially strapped Aspen Executive Air has filed for Chapter 11 bankruptcy protection, the latest setback for the upscale charter airline service. (Tue, 18 Sep 2007 07:15:41 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, 18 Sep 2007 08:29:02 GMT)

Peter Bronson: Bailout through bankruptcy?
This week: A quick survey of some bankruptcy trends. (Tue, 18 Sep 2007 08:56:43 GMT)

SCO bankruptcy filing delays start of SCO-Novell trial
The start of Monday's scheduled trial between The SCO Group Inc. and Novell Inc. has been postponed indefinitely because of the Chapter 11 bankruptcy and reorganization SCO announced on Friday. (Tue, 18 Sep 2007 09:57:44 GMT)

Bankruptcy should be a last resort
Bankruptcy is becoming a household word with the recent trouble of the giant public companies in retailing, manufacturing and the airline industry in the news. Some have successfully reorganized under Chapter 11. However, if you are considering bankruptcy as a viable option, stop and think. (Tue, 18 Sep 2007 10:22:55 GMT)

SCO Blames Linux For Bankruptcy Filing
InformationWeek: "SCO Group CEO Darl McBride says competition from the open source Linux operating system was a major reason why the company was forced to file for Chapter 11 bankruptcy protection on Friday..." (Tue, 18 Sep 2007 15:00:09 GMT)

SCO has its first bankruptcy hearing
THE FIRST HEARING on SCO's Chapter 11 bankruptcy petition was held this morning in US Bankruptcy Court of Delaware, located in beautiful downtown Wilmington. A few Groklaw members attended the hearing and Pamela Jones has already posted their first notes and impressions online. (Tue, 18 Sep 2007 17:42:09 GMT)

SCO Blames Linux For Bankruptcy Filing
Stony Stevenson writes "SCO Group CEO Darl McBride is now claiming that competition from Linux was behind the company's filing of Chapter 11 bankruptcy. 'In a court filing in support of SCO's bankruptcy petition, McBride noted that SCO's sales of Unix-based products "have been declining over the past several years." The slump, McBride said, "has been primarily attributable to significant ... (Tue, 18 Sep 2007 18:41:11 GMT)

SCO's Last Bankruptcy Straw
The company revealed in a filing what finally pushed it over the edge into bankruptcy court protection. (Tue, 18 Sep 2007 19:53:32 GMT)

Wachovia Sued Over Le Nature Bankruptcy
A Wachovia Corp. unit has been sued over the collapse of Le Nature's into bankruptcy in 2006 on allegations that it was aware of the beverage maker's financial problems prior to its public disclosure. (Tue, 18 Sep 2007 21:45:20 GMT)

Wachovia blamed in Le Nature's bankruptcy
Wachovia unit sued over beverage maker Le Nature's fall into bankruptcy (Tue, 18 Sep 2007 22:40:28 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. (Wed, 19 Sep 2007 13:18:07 GMT)

Wachovia sued over bankruptcy fallout
Wachovia Corp. is being sued in Manhattan federal court over claims it was aware of the financial problems at Le-Nature's Inc. while arranging a $285 million loan for the company. (Wed, 19 Sep 2007 14:42:04 GMT)

Bankruptcy trustee files motion against former Pearlman lawyer
Bankruptcy trustee Soneet Kapila has asked that Lou Pearlman's former lawyer be jailed if she doesn't provide documents and information sought by the bankruptcy estate. (Wed, 19 Sep 2007 18:25:17 GMT)

With bankruptcy, SCO now facing Nasdaq delisting
Following its bankruptcy filing, The SCO Group may be booted off of the Nasdaq stock exchange as early as next week, the Unix vendor said Wednesday. (Wed, 19 Sep 2007 22:15:02 GMT)

With bankruptcy, SCO now facing Nasdaq delisting
( InfoWorld ) - Following its bankruptcy filing, The SCO Group may be booted off of the Nasdaq stock exchange as early as next week, the Unix vendor said Wednesday. The stock exchange informed SCO on Tuesday that "the Company's securities will be delisted from Nasdaq on September 27, 2007, pending an appeal," SCO said in a statement . This comes as a result of  SCO's recent filing ... (Wed, 19 Sep 2007 22:48:52 GMT)

Judges need training in bankruptcy, says Mark
Opposition Senator Wade Mark is calling for judges to be trained to rule in matters to be covered by a proposed new bankruptcy and insolvency law. Mark made the call on Tuesday during his contribution to the Senate's debate on the Bankruptcy and Insolvency Bill at the Red House, Port of Spain. (Thu, 20 Sep 2007 01:48:28 GMT)

With bankruptcy, SCO now facing Nasdaq delisting
Updated: 20 Sep 2007 Following its bankruptcy filing, The SCO Group may be booted off of the Nasdaq stock exchange as early as next week, the Unix vendor said Wednesday. (Thu, 20 Sep 2007 05:36:13 GMT)

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