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Home > Bankruptcy News

Bankruptcy News Sep 2007

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A Viable Alternative to Bankruptcy
(ARA) - If you're carrying thousands of dollars in credit card debt, struggling to pay the rent every month and getting calls from collections agencies, you might be considering bankruptcy. Yet for almost all circumstances, a good financial advisor will tell you that's the last thing you should do. (Thu, 20 Sep 2007 08:14:21 GMT)

Bankruptcy judge to set Dana EPA liability
NEW YORK — The judge overseeing Dana Corp.’s bankruptcy case said yesterday he plans to estimate the value of environmental cleanup claims the U.S. Environmental Protection Agency made against the Toledo-based maker of car axles and frames. (Thu, 20 Sep 2007 09:18:05 GMT)

York County Probate Judge files for bankruptcy
KENNEBUNK — York County Probate Judge Robert Nadeau has filed for bankruptcy, saying that his recent divorce judgment left him with few assets and alimony and child support payments that eat up three quarters of his paychecks. (Thu, 20 Sep 2007 10:14:47 GMT)

Pa. Mortgage Broker Files for Bankruptcy
A Berks County mortgage broker and its five subsidiaries filed for bankruptcy this week, affecting more than 800 customers who face higher payments on their home loans. (Thu, 20 Sep 2007 12:46:25 GMT)

Bombay files for bankruptcy
By SHERYL JEAN Struggling retailer Bombay Co. filed for bankruptcy on Thursday, after failing to find an investor and failing reverse three years of declining sales and mounting losses. The Fort Worth-based home decor retailer has 384 stores nationwide. Shares of the company, which trade on the OTC Bulletin Board, fell 67 percent in morning trading to 6 cents per share. In just two years, the ... (Thu, 20 Sep 2007 14:44:11 GMT)

Bombay Co. files for bankruptcy 10:52 AM CT
The Bombay Co., a specialty home-furnishings retailer, sought bankruptcy protection from creditors with a plan to sell its assets. The company listed debt of $173.4 million and assets of $239.4 million in documents filed Thursday in U.S. Bankruptcy Court in Fort Worth, where it is based. (Thu, 20 Sep 2007 15:43:02 GMT)

Developer Harry Stinson Puts Businesses in Bankruptcy (Update1)
Sept. 20 (Bloomberg) -- Harry Stinson, the Toronto real- estate developer who was in competition with Donald Trump to build the city's highest residential building, placed four of his businesses in bankruptcy and, according to the receiver running the operations, violated a court order by doing so. (Thu, 20 Sep 2007 22:38:12 GMT)

Bombay Co. Files for Bankruptcy
Home furnishings retailer Bombay Co. said Thursday it has filed for bankruptcy protection but will keep stores open as it continues to look for a buyer. (Thu, 20 Sep 2007 23:24:15 GMT)

Lawyers to cut fees in church bankruptcy
SPOKANE -- Lawyers involved in the bankruptcy of the Roman Catholic Diocese of Spokane have agreed to cut their legal bills by about 5 percent, producing an extra $400,000 for victims of sexual abuse by priests. (Fri, 21 Sep 2007 04:52:19 GMT)

Pascack Valley Hospital to file for bankruptcy and close down
WESTWOOD, N.J. - Pascack Valley Hospital, which has lost more than $50 million over the last four years, will file for bankruptcy and close by the end of the year, its trustees announced Thursday. (Fri, 21 Sep 2007 06:12:56 GMT)

Bombay seeks help in Chapter 11 bankruptcy
By SHERYL JEAN FORT WORTH -- Unable to find a buyer after three years of declining sales and mounting losses, Bombay Co. is looking for help in the sanctuary of last resort: bankruptcy court. The home-furnishings retailer filed for Chapter 11 protection from creditors Thursday in what it says is the best option to restructure the company and reduce debt in an effort to make itself more ... (Fri, 21 Sep 2007 11:14:21 GMT)

Retailer files for bankruptcy, but says stores will stay open
FORT WORTH, Texas -- Home furnishings retailer Bombay Co. said it has filed for bankruptcy protection but will keep stores open as it continues to look for a buyer. (Fri, 21 Sep 2007 13:54:35 GMT)

(AFX UK Focus) 2007-09-21 15:11 GMT: French PM repeats pledge for balanced budget by 2012 to end govt 'bankruptcy'
PARIS (Thomson Financial) - French prime minister Francois Fillon reiterated his government's target for balancing its budget by 2012, declaring that France's public finances have been "in a state of bankruptcy". (Fri, 21 Sep 2007 14:37:17 GMT)

FRENCH STATE NEARING BANKRUPTCY, SAYS PM
CALVI, France, Sept 21, 2007 (AFP) - Prime Minister Francois Fillon warned Friday that the French state was nearing bankruptcy because of the many assistance programmes that it finances. (Fri, 21 Sep 2007 15:51:09 GMT)

Bombay Co. Files for Bankruptcy Protection
The Bombay Co. Inc., Fort Worth, Texas, announced that it has filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code for itself and its U.S. subsidiaries. (Fri, 21 Sep 2007 16:18:40 GMT)

Center for Responsible Lending Supports Plan to Extend Bankruptcy Relief to Homeowners
The Center for Responsible Lending congratulates Representative Brad Miller for proposing legislation that provides homeowners equal access to bankruptcy relief. Current bankruptcy law specifically bars homeowners from restructuring their mortgage, even when foreclosure is imminent due to abusive exploding subprime ARMs. Yet the same law allows financial relief for loans taken out on vacation ... (Fri, 21 Sep 2007 21:35:00 GMT)

Home-furnishings retailer files Chapter 11 bankruptcy
The Bombay Co., a Fort Worth-based specialty home-furnishings retailer, filed for Chapter 11 bankruptcy protection Sept. 20 from creditors. The company listed debt of $173.4 million and assets of $239.4 million in documents filed at U.S. Bankruptcy Court in Fort Worth. (Fri, 21 Sep 2007 23:34:32 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, 22 Sep 2007 07:12:01 GMT)

Court: Harassment Decree Excluded From Bankruptcy Filing
HOT SPRINGS -- A federal appeals panel says a man who was found liable for retaliating against an employee who complained of sexual harassment cannot get out from paying the judgment by filing for bankruptcy. (Sat, 22 Sep 2007 10:18:40 GMT)

Dana shareholder makes offer on bankruptcy exit
Appaloosa Management LP, the largest shareholder in auto-parts maker Dana Corp., has made an offer to finance the company’s exit from bankruptcy, competing with a bid from Centerbridge Capital Partners LP. (Sat, 22 Sep 2007 10:33:05 GMT)

Social service nonprofit files for bankruptcy
The long-struggling Middlesex County Economic Opportunities Corp., a nonprofit social service agency based in Perth Amboy, filed for bankruptcy in federal court last week. (Sun, 23 Sep 2007 04:55:46 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, 23 Sep 2007 08:14:12 GMT)

Bankruptcy not the end of the world
Jesse Austin, an attorney with Paul Hastings Janofsky & Walker LLP who frequently handles Chapter 7 and Chapter 11 filings, and a board member of the Turnaround Management Association, Georgia chapter, weighs in on how companies can avoid -- and deal with -- bankruptcy. (Mon, 24 Sep 2007 04:53:38 GMT)

Bankruptcy filings
These bankruptcies were filed Sept. 9-20 in U.S. District Court, Indianapolis, for the Southern District of Indiana. D-debt; A-assets. (Mon, 24 Sep 2007 06:47:58 GMT)

Neighbor saves day after builder's bankruptcy
HAMILTON -- When developer Kara Homes went bankrupt last year, Jerry Davis and 10 other buyers at the upscale golf community Glen Eyre were left without homes -- and nearly without hope. (Mon, 24 Sep 2007 10:01:09 GMT)

Getting paid through bankruptcy court
DEAR CARRIE: The special-needs agency where I worked as an independent contractor has filed for bankruptcy. I'm especially upset because it still owes me thousands of dollars. What recourse do I have? (Mon, 24 Sep 2007 11:04:23 GMT)

EU insists on balanced 2010 budget as French PM pledges to end state bankruptcy
BRUSSELS (Thomson Financial) - The European Commission has welcomed French Prime Minister Francois Fillon's commitment to balancing the country's budget by 2012, but has insisted on the importance of moving forward "as quickly as possible", pointing to the 2010 deficit reduction deadline agreed in April by ministers at an informal meeting in Berlin. (Mon, 24 Sep 2007 11:39:42 GMT)

France Is " In A State Of Bankruptcy"; Says French PM
(RTTNews) - France's record of public spending to output ratio was the worst in the European Union, Jean-Claude Trichet, President of the European Central Bank, ECB, said in an interview to Europe 1 radio on Sunday. (Mon, 24 Sep 2007 13:11:51 GMT)

Deed and Note Traders files for bankruptcy
Deed and Note Traders LLC, a Tucson property-investment firm and foreclosure rescue service, has filed for Chapter 11 bankruptcy protection. (Mon, 24 Sep 2007 19:46:50 GMT)

Calpine cuts estimated return in bankruptcy plan
Bankrupt power producer Calpine Corp on Monday lowered an estimated return for existing shareholders under a revised disclosure statement filed at the U.S. Bankruptcy Court for the Southern District of New York. (Mon, 24 Sep 2007 22:26:30 GMT)

Judge denies bid for early appeal on Enron bankruptcy ruling
Associated Press - September 24, 2007 6:55 PM ET PHILADELPHIA (AP) - A federal judge in New York today rebuffed a bid for an early appeal of a 2006 ruling in Enron's bankruptcy case. (Mon, 24 Sep 2007 23:00:11 GMT)

Judge denies bid for early appeal on Enron bankruptcy ruling
PHILADELPHIA (AP) - A federal judge in New York today rebuffed a bid for an early appeal of a 2006 ruling in Enron's bankruptcy case. Houston-based Enron went bankrupt in 2001 after its stock collapsed. (Mon, 24 Sep 2007 23:12:47 GMT)

Customers of an Exeter Township firm that filed for bankruptcy protection may apply for assistance.
Customers of an Exeter Township firm that filed for bankruptcy protection may apply for assistance. (Tue, 25 Sep 2007 04:30:14 GMT)

File bankruptcy for $14,000?
I'm a single parent with two children. I bring home about $3,500 a month, but I have $14,000 in credit card debt. Our rent is $750 a month, and I've been funding my 401(k) at $700 per month. Should I file bankruptcy, stop funding my retirement or what? (Tue, 25 Sep 2007 05:12:57 GMT)

Bankruptcy means higher interest rate
The key to keeping a home is getting the right loan at right time, says the Bankruptcy Adviser. (Tue, 25 Sep 2007 10:00:00 GMT)

Federal Bankruptcy Judge Places Innovative Communication Corporation in Bankruptcy
HERNDON, Va.----On Friday, September 21, 2007, U.S. Bankruptcy Court Judge Judith K. Fitzgerald placed Innovative Communication Corporation in Chapter 11 bankruptcy over the objections of its principal, Jeffrey Prosser. (Tue, 25 Sep 2007 12:43:00 GMT)

Bend plane-maker files bankruptcy; seeks sale to Cessna
Columbia Aircraft Manufacturing announced it has filed for Chapter 11 bankruptcy protection and will be acquired by Cessna, the world's leading manufacturer of small planes. (Tue, 25 Sep 2007 13:51:43 GMT)

US bankruptcy judge approves Calpine disclosure
NEW YORK, Sept 25 - A U.S. bankruptcy judge approved power company Calpine Corp's disclosure statement on Tuesday, clearing a hurdle for the company to put its restructuring plan to creditors for approval. (Tue, 25 Sep 2007 20:03:49 GMT)

Democrats Push Bankruptcy Bill
Democrats say they intend to get Congress, before the end of the year, to consider legislation that would make it harder for companies reorganizing in bankruptcy to slash workers' pay and benefits. (Tue, 25 Sep 2007 21:47:23 GMT)

Cypress Gardens, Wild Adventure theme parks auctioned for $51.3 million at bankruptcy hearing
The Associated Press - VALDOSTA, Ga. Wild Adventure Theme Park and its sister amusement park in Winter Haven, Fla., were sold Tuesday at a private auction as part of a pending Chapter 11 bankruptcy case, according to a lawyer for the parks' parent company. (Wed, 26 Sep 2007 02:26:20 GMT)

euro adhoc: RHI AG / Justice/Processes / Bankruptcy Co.
euro adhoc: RHI AG / Justice/Processes / Bankruptcy Court approves Reorganization Plans - US Chapter 11 proceedings move towards final conclusion -------------------------------- Disclosure announcement transmitted by euro adhoc. (Wed, 26 Sep 2007 06:47:05 GMT)

euro adhoc: RHI AG / Justice/Processes / Bankruptcy Court approves Reorganization Plans - US Chapter 11 proceedings ...
Company Information 26.09.2007 On September 24, 2007, an order was entered by the Bankruptcy Court approving the PoRs and overruling all remaining objections to ... (Wed, 26 Sep 2007 07:08:55 GMT)

Bennett's parent claims bankruptcy
The parent company of Bennett's Bar-B-Que has filed for Chapter 11 bankruptcy protection as it attempts to reorganize. (Wed, 26 Sep 2007 08:27:43 GMT)

RHI says close to settling 40 mln eur Chapter 11 bankruptcy case in US
VIENNA (Thomson Financial) - Austrian industrial group RHI AG said it is very close to settling the ongoing Chapter 11 bankruptcy case in the US after a court in that country gave its final approval on RHI's former affiliate Honeywell International's reorganisation plan. (Wed, 26 Sep 2007 09:09:43 GMT)

Hedge fund details unsolicited bid to finance Dana bankruptcy exit
Hedge fund Appaloosa Management LP's bid for financing Dana Corp.'s emergence from bankruptcy said its offer is "substantially identical" to a prior proposal. (Wed, 26 Sep 2007 10:32:45 GMT)

Theme parks auctioned for $51.3 million at bankruptcy hearing
VALDOSTA, Ga. (AP) - A lawyer for the parks' parent company says that Wild Adventure Theme Park and its sister amusement park in Winter Haven, Florida, were sold at a private auction as part of a pending Chapter Eleven bankruptcy case. (Wed, 26 Sep 2007 15:21:20 GMT)

Cypress Gardens Auctioned At Bankruptcy Hearing
VALDOSTA, GA (AP) -- The oldest theme park in Florida and its sister amusement park in Georgia have been sold as part of a pending Chapter Eleven bankruptcy case. Cypress Gardens Adventure Park in Winter Haven, Florida, was sold for nearly 17 million dollars at a private auction. (Wed, 26 Sep 2007 16:33:16 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, 26 Sep 2007 19:06:55 GMT)

Solutia resolves bankruptcy
Solutia Inc. said Wednesday it has resolved conflicts with all major constituencies in its nearly four-year-old bankruptcy reorganization. Disputes from shareholders and some creditors had long stymied the company's efforts to emerge from bankruptcy. (Thu, 27 Sep 2007 04:32:14 GMT)

Bankruptcy case reveals McLean's $50M debt
Beverly Keel of The Tennessean contributed to this report. Robert W. McLean burned through almost $50 million over the past 5 years — all of the money his clients had given him to invest for them and more — and died broke, a U.S. Bankruptcy Court trustee told creditors on Wednesday. (Thu, 27 Sep 2007 08:04:30 GMT)

Benoit's doctor may seek bankruptcy
In his first known interview since his arrest in June, Chris Benoit's former doctor said Wednesday he is broke and expects to file for bankruptcy soon. (Thu, 27 Sep 2007 10:29:10 GMT)

Foxtons may file for bankruptcy
Foxtons, the one-time 800-pound gorilla of the 2 percent marketplace in the New York metropolitan area, said it may file for bankruptcy and close its business, explaining it "can't stand in the way of a hurricane" that has come about as a result of the decline in the home mortgage industry. (Thu, 27 Sep 2007 15:18:43 GMT)

DR. PHIL ASTIN PLANS BANKRUPTCY FILING, CLAIMS HE'S BEEN MADE A SCAPEGOAT FOR BENOIT TRAGEDY
The Atlanta Journal- Constitution reported today that Dr. Phil Astin is expected to file for bankruptcy protection. Astin was interviewed by the newspaper, commenting, " That's all I can do now. I don't have any funds. [The case] has disrupted every aspect of my life." (Thu, 27 Sep 2007 16:40:37 GMT)

Hollinger fights to keep bankruptcy protection, says legal claims biggest asset
TORONTO — Hollinger Inc., the insolvent holding company once controlled by Conrad Black, says it will fight to remain under bankruptcy protection so it can pursue its outstanding lawsuits. (Thu, 27 Sep 2007 17:37:34 GMT)

Hollinger fights to keep bankruptcy-court shelter, says legal claims main asset
TORONTO - Hollinger Inc. (TSX:HLG.C), the insolvent holding company once controlled by Conrad Black, says it will fight to remain under bankruptcy-court protection so it can pursue - and hopefully cash in on - its outstanding lawsuits against Black and major banks. (Thu, 27 Sep 2007 18:11:06 GMT)

Innovative Designs Petitions Bankruptcy Court to Dismiss Involuntary Chapter 11
On September 24, 2007, counsel for Innovative Designs, Inc. filed a motion to dismiss the bankruptcy case pending in the United States Bankruptcy Court for the Western District of Pennsylvania at case No. 06-23921-MBM. (Thu, 27 Sep 2007 19:19:00 GMT)

Decision of resignations reflects political bankruptcy of APDM leadership: Azeem
ISLAMABAD: Minister of State for Information and Broadcasting Senator Tariq Azeem on Thursday said that the decision of resigning from assemblies by APDM leadership reflects political bankruptcy on their part. Talking to a private television channel, .... (Thu, 27 Sep 2007 23:16:07 GMT)

Foxtons to shut doors, may file for bankruptcy
Foxtons, the West Long Branch-based discount real estate company, is shutting its doors and may file for bankruptcy. (Fri, 28 Sep 2007 01:37:20 GMT)

CPFilms' parent firm may exit bankruptcy
Solutia Inc., parent company of CPFilms in Fieldale, could emerge from bankruptcy by the end of this year since it has reached a deal on a reorganization plan with the major constituents in its Chapter 11 cases. (Fri, 28 Sep 2007 10:14:35 GMT)

GCO Declares Bankruptcy
Groupe Conseil Omnitech Inc. regrets to announce that it proceeded with an assignment of its assets for the benefit of its creditors in accordance with the provisions of the Bankruptcy and Insolvency Act. (Fri, 28 Sep 2007 20:27:00 GMT)

Councilwoman files for bankruptcy
Councilwoman files for bankruptcy WILMINGTON -- The financial problems continue to grow for Pat Delair. The Wilmington councilwoman has now filed for bankruptcy. This is not the first time Delair has had financial difficulties. And with the election just over a week away the big question now is: will this have an impact on voters? The building at 511 N. Third Street, where ... (Fri, 28 Sep 2007 22:01:25 GMT)

Delair Files for Bankruptcy
City councilwoman Pat Delair filed for bankruptcy on the same day her property was scheduled to be auctioned off. (Fri, 28 Sep 2007 22:33:38 GMT)

Omnitech Consultant Group files for bankruptcy, PwC appointed trustee
QUEBEC - Omnitech Consultant Group Inc.(TSXV:GCO) has filed for bankruptcy, with PricewaterhouseCoopers Inc. appointed as trustee in charge of liquidating the company's assets. (Fri, 28 Sep 2007 22:50:53 GMT)

Davenport Diocese again seeks extension from bankruptcy court
CEDAR RAPIDS, Iowa (AP) - The Diocese of Davenport is again seeking more time to file a reorganization plan in its bankruptcy case. The request is meant to give the diocese more time to resolve insurance issues that could add millions of dollars to the settlement involving victims of clergy abuse. (Fri, 28 Sep 2007 23:01:31 GMT)

Davenport Diocese again seeks extension from bankruptcy court
Associated Press - September 28, 2007 6:54 PM ET CEDAR RAPIDS, Iowa (AP) - The Diocese of Davenport is again seeking more time to file a reorganization plan in its bankruptcy case. (Fri, 28 Sep 2007 23:09:30 GMT)

A Viable Alternative to Bankruptcy
(ARA) - If you're carrying thousands of dollars in credit card debt, struggling to pay the rent every month and getting calls from collections agencies, you might be considering bankruptcy. Yet for almost all circumstances, a good financial advisor will tell you that's the last thing you should do. (Sat, 29 Sep 2007 01:07:06 GMT)

Foxtons to shut doors, may file for bankruptcy
Foxtons, the West Long Branch-based discount real estate company, is shutting its doors and may file for bankruptcy. (Sat, 29 Sep 2007 04:35:06 GMT)

Monorail developer denies bankruptcy
A hearing for a bankruptcy lawsuit against monorail developing consortium PT Jakarta Monorail on Thursday ended with both the plaintiff and the accused being told to prepare evidence for the next court session. (Sat, 29 Sep 2007 04:57:22 GMT)

Eastern Iowa Diocese Seeks Extension from Bankruptcy Court
Davenport (AP) - The Davenport arch-diocese is seeking another extension from bankruptcy court. The diocese needs more time to file a reorganization plan concerning insurance issues over settlements involving clergy sex abuse. (Sat, 29 Sep 2007 10:59:26 GMT)

Davenport Diocese Again Seeks Bankruptcy Extension
The Diocese of Davenport is again seeking more time to file a reorganization plan in its bankruptcy case. (Sat, 29 Sep 2007 18:35:36 GMT)

SMG was ‘six months from bankruptcy’
believed to have been six months from possible bankruptcy when the old management team was ousted in February. (Sat, 29 Sep 2007 22:45:17 GMT)

CM Development's bankruptcy leaves many In a bind
The collapse of CM Development has left some of the region's most vulnerable residents in a difficult spot. Living in houses that are no longer being maintained, renters have found the company also is . . . (Sun, 30 Sep 2007 04:12:47 GMT)

A Viable Alternative to Bankruptcy
(ARA) - If you're carrying thousands of dollars in credit card debt, struggling to pay the rent every month and getting calls from collections agencies, you might be considering bankruptcy. Yet for almost all circumstances, a good financial advisor will tell you that's the last thing you should do. (Sun, 30 Sep 2007 09:14:54 GMT)

NetBank Files for Bankruptcy After Regulators Take Over Unit
Sept. 29 (Bloomberg) -- The parent of NetBank, a pioneer in Internet banking, filed for bankruptcy protection after the savings-and-loan became the first in three years to fail. (Sun, 30 Sep 2007 13:56:42 GMT)

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