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Home > Bankruptcy News

Bankruptcy News Nov 2007

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Couple worried about bankruptcy at 30 should keep to a strict budget
My wife and I are both 30, and we're afraid we may have to file bankruptcy. We make $70,000 a year, have credit card debt of $23,000, a home with a $143,000 balance, $10,000 in student loans and $5,000 in medical expenses. (Sun, 18 Nov 2007 06:47:56 GMT)

Filing for bankruptcy more commonplace
Bankruptcy - the word carries a heavy stigma; the notion of irresponsible people running up credit card debt for luxury items then filing for bankruptcy to avoid paying for them. (Sun, 18 Nov 2007 12:20:54 GMT)

Bankruptcy puts W. Austin's One World Theatre up for sale
A dispute between business partners has led to a Chapter 11 bankruptcy filing and a move to sell the venue known as One World Theatre. (Mon, 19 Nov 2007 05:01:26 GMT)

Levitt and Sons bankruptcy hinges on dispute with lenders
A day after the first hearing in Levitt and Sons Chapter 11 bankruptcy, a standoff between Levitt Corp. Chairman and CEO Alan Levan and two major lenders seemed to be set in concrete. (LEV) (BFF) (Mon, 19 Nov 2007 05:01:46 GMT)

Tough sell: Bankruptcy is possible for homebuilders during slump
Homebuilders such as Centex Corp. and Pulte Homes Inc. aim to survive an industrywide unraveling by selling houses at bargain prices, slashing jobs and scrapping growth plans. (Mon, 19 Nov 2007 05:09:32 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. (Mon, 19 Nov 2007 14:07:51 GMT)

'Bankruptcy' warning for airport deal
Debt levels will be unsustainable if Canada Pension Plan Investment Board's bid for Auckland International Airport succeeds and the restructured company will face bankruptcy unless interest costs or capital spending are cut, an analyst says. (Mon, 19 Nov 2007 16:26:31 GMT)

Bankruptcy Adviser Tersigni Files Ch 11
L. Tersigni Consulting, which advised asbestos creditors in more than a dozen major bankruptcy cases, has filed for Chapter 11 protection in Connecticut. (Mon, 19 Nov 2007 18:37:51 GMT)

Movie Gallery Bankruptcy Will Not Affect Stores Across Southern Illinois
DU QUOIN - While Movie Gallery, Inc., has filed for bankruptcy in a move to reorganize, stores in Southern Illinois will not be affected, according to Du Quoin store manager Amanda Harrawood. (Mon, 19 Nov 2007 18:50:02 GMT)

Pope & Talbot agrees to move bankruptcy
At the request of creditors and several government agencies, Pope & Talbot Inc. has agreed to move its bankruptcy proceedings from Ontario to British Columbia. (Mon, 19 Nov 2007 22:45:31 GMT)

Pope & Talbot Files For Chapter 11 Bankruptcy Protection
Pope & Talbot Inc. (PTBT.PK) said Monday that it voluntarily filed for Chapter 11 bankruptcy protection. The Portland, Ore., pulp and wood products company also said it was selling three sawmills to International Forest Products Ltd., or Interfor, for $69 million. (Tue, 20 Nov 2007 00:41:00 GMT)

Analyst: ResCap Owners Might Push Into Bankruptcy
An analyst wrote on Monday that the owners of mortgage lender Residential Capital may want to put it into bankruptcy because of its exposure to homebuilders. (Tue, 20 Nov 2007 01:09:59 GMT)

Pope & Talbot files U.S. bankruptcy, reaches agreement to sell three mills
Pope & Talbot Inc. has filed a Chapter 11 bankruptcy in Delaware and reached an agreement to sell three of its sawmills, the company announced late Monday. (Tue, 20 Nov 2007 01:15:25 GMT)

Analyst: ResCap owners might push it into bankruptcy
MINNEAPOLIS (AP) - An analyst says the owners of mortgage lender Residential Capital may want to put it into bankruptcy because of its exposure to homebuilders. (Tue, 20 Nov 2007 01:46:57 GMT)

Whidbey Island boat builder files for bankruptcy
FREELAND -- Nichols Bros. Boat Builders has filed for Chapter 11 bankruptcy reorganization and the shipyard's operations may reopen in the near future, possibly with a new owner. (Tue, 20 Nov 2007 08:01:28 GMT)

Nichols Brothers Boat Builders files for bankruptcy
Nichols Brothers Boat Builders Inc., the Whidbey Island maker of tugboats and ferries, has filed for bankruptcy protection from creditors, while still working on plans to rehire the 180 workers it laid off earlier this month. (Tue, 20 Nov 2007 08:37:45 GMT)

Countrywide calls bankruptcy rumors false: report
Countrywide Financial Corp , the largest U.S. mortgage lender, on Tuesday characterized rumors of a possible bankruptcy filing as "absolutely false," The Wall Street Journal said. (Tue, 20 Nov 2007 19:55:42 GMT)

Amid bankruptcy rumors, Countrywide says it's solid
Countrywide Financial Corp., the nation's largest mortgage lender, sought to reassure investors Tuesday, declaring it has ample capital, access to cash and is well-positioned to benefit from the financial turmoil rocking the mortgage sector. The company's statement came amid rumors the Calabasas, Calif.-based company could be looking to seek bankruptcy protection and as its stock tumbled at one ... (Tue, 20 Nov 2007 22:25:30 GMT)

Sidestep Sick Bankruptcy
A million and a half American families file for personal bankruptcy every year. Half do so because of unpaid medical bills, according to the policy journal Health Affairs. (Tue, 20 Nov 2007 22:43:09 GMT)

Sidestep Sick Bankruptcy
A million and a half American families file for personal bankruptcy every year. Half do so because of unpaid medical bills, according to the... (Tue, 20 Nov 2007 22:43:09 GMT)

Hospitals pinch to avoid bankruptcy
Menifee Valley Medical Center and two other hospitals in the region will trim their staffs and attempt to renegotiate contracts in an effort to stem financial losses that threaten to put them into bankruptcy, the hospitals' new managers said Tuesday. (Wed, 21 Nov 2007 06:37:23 GMT)

Funny Bone files for bankruptcy
After falling behind on rent by more than $40,000, the Boise Funny Bone Comedy Club has filed bankruptcy putting its future in doubt. (Wed, 21 Nov 2007 07:18:35 GMT)

Nichols Brothers Boat Builders files for bankruptcy protection
Associated Press - November 21, 2007 5:54 AM ET SEATTLE (AP) - Nichols Brothers Boat Builders, which makes passenger ferries, tugboats and other work boats, has filed for bankruptcy... (Wed, 21 Nov 2007 11:02:45 GMT)

Nichols Brothers files for bankruptcy
Nichols Brothers Boat Builders Inc. voluntarily filed for Chapter 11 proceedings at U.S. Bankruptcy Court in the Western District of Washington on Friday, Nov. 16. (Wed, 21 Nov 2007 13:10:37 GMT)

About $758,000 in refunds unclaimed from Canada 3000 bankruptcy
VANCOUVER - About $758,000 in refunds owed to people who had flights booked with Canada 3000 Holidays before it went bankrupt remains unclaimed. The airline filed for bankruptcy in Nov. 2001, leaving many people holding vacation flight tickets. (Wed, 21 Nov 2007 13:38:04 GMT)

Whidbey Island boat builder files for bankruptcy
FREELAND -- Nichols Bros. Boat Builders has filed for Chapter 11 bankruptcy reorganization and the shipyard's operations may reopen in the near future, possibly with a new owner. (Wed, 21 Nov 2007 14:35:36 GMT)

Nursing Home Company Declares Bankruptcy
A nursing home company, run by the same executive who heads up the record label for country star Travis Tritt, has declared bankruptcy amid allegations of poor care and a state inquiry into whether it illegally used federal funds meant for patients for other purposes including a lakeside home and the record company's launch. (Wed, 21 Nov 2007 17:08:39 GMT)

Joan Fabrics Bankruptcy Moved to Ch 7
A federal judge approve Joan Fabrics Corp.'s request to convert its Chapter 11 bankruptcy case to a Chapter 7 liquidation. (Wed, 21 Nov 2007 17:30:23 GMT)

Nursing Home Operator in Connecticut Files for Bankruptcy
Connecticut’s second-largest operator of nursing homes filed for bankruptcy protection this week, amid accusations that it shortchanged patients. (Thu, 22 Nov 2007 04:42:26 GMT)

King to file bankruptcy papers
John A. King, the osteopathic surgeon who faces 122 medical malpractice cases in Putnam County, is getting ready to file for personal bankruptcy — a move that could delay the lawsuits against him for months. (Thu, 22 Nov 2007 06:11:57 GMT)

Care-home firm files for bankruptcy protection
HARTFORD, Conn. — A company that operates 15 nursing homes in Connecticut has filed for bankruptcy amid allegations that it mismanaged millions of dollars in patient-care money and illegally diverted some of it to a Nashville country music record label. (Thu, 22 Nov 2007 08:11:03 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, 22 Nov 2007 09:16:06 GMT)

Neumann bankruptcy info online
More than 25 frequently asked questions about the impact of Neumann Homes' bankruptcy on Antioch residents will be posted on the village's Web site, www.antioch.il.gov this week. (Thu, 22 Nov 2007 10:20:23 GMT)

Kerry Katona denies bankruptcy claims
Kerry Katona slams reports that she is on the verge of bankruptcy because of her spending habits. (Thu, 22 Nov 2007 12:14:49 GMT)

Hotline for Haven Healthcare bankruptcy
Hartford (WTNH, Nov. 22, 2007 9:14 AM) _ The state is launching a new hot line for people with questions about the bankruptcy filing by Haven Healthcare. (Thu, 22 Nov 2007 14:19:01 GMT)

Surgeon files petition for bankruptcy
The osteopathic surgeon who faces 122 medical malpractice cases in Putnam County has begun the process of filing for bankruptcy. (Thu, 22 Nov 2007 14:30:36 GMT)

Doctor in Putnam County malpractice cases to file for bankruptcy
CHARLESTON, W.Va. John King, the former West Virginia doctor facing 122 medical malpractice cases, is apparently planning to file for bankruptcy, which could mean lengthy delays for the lawsuits against him. (Thu, 22 Nov 2007 19:35:17 GMT)

Movie Gallery Bankruptcy Will Not Affect Stores Across Southern Illinois
DU QUOIN - While Movie Gallery, Inc., has filed for bankruptcy in a move to reorganize, stores in Southern Illinois will not be affected, according to Du Quoin store manager Amanda Harrawood. (Thu, 22 Nov 2007 21:17:41 GMT)

After Bankruptcy, a Hospital in Brooklyn Looks To Rebuild
With the ink barely dry on its plan to emerge from bankruptcy, a Brooklyn community hospital is trying to reinvent itself in the midst of a gentrifying neighborhood. Situated in the heart of Fort Greene, the Brooklyn Hospital Center is banking on an explosion of residential development nearby, including a new condominium building one block away. In addition to facility improvements and other ... (Fri, 23 Nov 2007 04:03:11 GMT)

Bankruptcy measure could cut foreclosures
Congress is considering legislation that would allow bankruptcy court judges to rewrite loan terms, a change that supporters say could save half a million borrowers from foreclosure. (Fri, 23 Nov 2007 06:43:42 GMT)

Bills offer relief for some owners facing foreclosure / Bankruptcy Court plan under fire from lenders' group
Congress is considering legislation that would allow Bankruptcy Court judges to rewrite loan terms for people at risk of losing their homes, a change that supporters say could save half a million borrowers from foreclosure through early 2009. Under this... (Fri, 23 Nov 2007 08:39:24 GMT)

Topps Files for Bankruptcy After Recall
The Topps Meat Co., which issued the nation's second-largest beef recall ever, has filed for bankruptcy. Elizabeth-based Topps said it will liquidate the company, which was one of the largest makers of frozen hamburgers before potentially fatal bacteria were found in its patties, compelling it to halt production and issue the recall. (Fri, 23 Nov 2007 16:16:01 GMT)

Topps files for bankruptcy after beef recall
After recalling 21.7 million pounds of frozen hamburger meat due to E. coli contamination, and making 40 people ill, Topps files for bankruptcy. (Fri, 23 Nov 2007 17:16:00 GMT)

Topps Meat Files Bankruptcy After September Recall (Update1)
Nov. 23 (Bloomberg) -- Topps Meat Co. filed for bankruptcy protection two months after beginning the second-biggest beef recall in U.S. history. The company didn't provide financial details in a filing in U.S. Bankruptcy Court in New Jersey. (Fri, 23 Nov 2007 19:12:24 GMT)

Topps Meat Files Bankruptcy After September Recall (Update3)
Nov. 23 (Bloomberg) -- Topps Meat Co. filed for bankruptcy protection two months after beginning the second-biggest beef recall in U.S. history. The company didn't provide financial details in a filing in U.S. Bankruptcy Court in Newark, New Jersey. (Fri, 23 Nov 2007 21:27:25 GMT)

Bill would aid borrowers in bankruptcy
Washington — Congress is considering legislation that would allow bankruptcy court judges to rewrite loan terms for people at risk of losing their homes, a change that supporters say could save half a million borrowers from foreclosure through early 2009. Under this plan, judges could lower the interest rate of a mortgage on a primary home, extend the life of the loan or forgive part of the debt ... (Sat, 24 Nov 2007 01:25:29 GMT)

Monitor Oil Files Bankruptcy
The directors of Monitor Oil plc wish to announce that the Company and two of its subsidiaries, Monitor Single Lift 1 Limited and Monitor US Finco, filed voluntary Chapter 11 petitions for reorganization under the US Bankruptcy Code. This action was taken by the Company after careful consultation with its advisers with a view to seeking to preserve value in the Company's material assets. (Sat, 24 Nov 2007 02:24:58 GMT)

Digest: Meat company files for bankruptcy
Topps Meat Co. has filed for bankruptcy protection two months after beginning a major beef recall. (Sat, 24 Nov 2007 06:43:12 GMT)

Topps files for bankruptcy after hamburger recall and shutdown
NEWARK, N.J.– Less than seven weeks after halting production of frozen hamburgers in the second-largest U.S. beef recall, Topps Meat Co. has filed for bankruptcy. (Sat, 24 Nov 2007 09:48:05 GMT)

Appaloosa Management reaches settlement with Dana Corp. over bankruptcy-exit plan
WASHINGTON - Hedge fund Appaloosa Management LP disclosed Friday that it will stop trying to block a bid by Centerbridge Capital Partners to pump $790 million into Dana Corp.'s bankruptcy exit. (Sat, 24 Nov 2007 13:36:08 GMT)

Topps Files for Bankruptcy
NEWARK, N.J. (AP) - The company behind a nationwide beef recall seven weeks ago has filed for bankruptcy. Topps Meat Company halted its production of frozen hamburgers and was forced to issue the nation's second-largest beef recall when potentially fatal bacteria were found in its patties. (Sat, 24 Nov 2007 15:48:27 GMT)

Topps Meat Files For Bankruptcy Protection
Topps Meat Co., which issued the nation's second-largest beef recall ever, has filed for bankruptcy protection. (Sat, 24 Nov 2007 20:05:36 GMT)

Topps Meat Company Files for Bankruptcy
NEWARK, N.J. (AP) -- The company behind a nationwide beef recall seven weeks ago has filed for bankruptcy. Topps Meat Company halted its production of frozen hamburgers and was forced to issue the nation's second-largest beef recall when potentially fatal bacteria were found in its patties. (Sun, 25 Nov 2007 01:11:05 GMT)

Bankruptcy law pushing up foreclosures
Washington Mutual Inc. got what it wanted in 2005: a revised bankruptcy code that no longer lets people walk away from credit-card bills. (Sun, 25 Nov 2007 07:21:33 GMT)

Many working, but Alabama No. 3 for bankruptcy filings
BIRMINGHAM, Ala. Alabama has record low unemployment, but the state ranks No. 3 in the nation for bankruptcy filings, according to court records. Experts say home foreclosures and surging consumer debt are contributing to the bankruptcy boost. (Sun, 25 Nov 2007 18:50:41 GMT)

Topps files for bankruptcy after shutdown and massive beef recall
NEWARK, N.J. (AP) — The Topps Meat Co., which issued the nation’s second-largest beef recall ever, has filed papers to liquidate the company. (Mon, 26 Nov 2007 07:19:23 GMT)

Bankruptcy filings has state No. 3 in rankings
BIRMINGHAM -- Alabama has record low unemployment, but the state ranks No. 3 in the nation for bankruptcy filings, according to court records. (Mon, 26 Nov 2007 10:00:40 GMT)

Bankruptcy In Alabama
Unemployment may be low in Alabama, but state ranks high in bankruptcy filings. more (Mon, 26 Nov 2007 11:47:58 GMT)

NetBank says to liquidate in bankruptcy
NetBank Inc , which became the largest U.S. bank to fail in 14 years when it filed for bankruptcy protection two months ago, said on Monday it expects to liquidate its assets. (Mon, 26 Nov 2007 17:44:17 GMT)

Monitor Oil PLC asks court for bankruptcy protection
Monitor Oil PLC, a global provider of oil and gas production support services, has filed for bankruptcy protection in a move that comes after the company failed to win contracts involving decommissioning platforms off Norway. (Mon, 26 Nov 2007 17:49:16 GMT)

Fieldstone Mortgage files Ch. 11 bankruptcy
Citing rising mortgage delinquencies and tightening credit markets, Fieldstone Mortgage Co. has filed for Chapter 11 bankruptcy protection. (MTG) (RDN) (Mon, 26 Nov 2007 20:11:26 GMT)

L&G bankruptcy procedures start
The Tokyo District Court decided Monday to start court-led bankruptcy procedures for L&G K.K., a Tokyo-based firm alleged to have run a fraudulent investment scheme using its own "Enten" currency. Read more ... (Mon, 26 Nov 2007 23:46:03 GMT)

Bankruptcy Trustee Suits Cause Increasing Concern for Law Firms
Though they get fewer headlines, bankruptcy trustee suits have largely replaced shareholder class actions in law firm managing partners' nightmares. The suits are often better funded, better lawyered and, with the U.S. Supreme Court likely to further limit third-party liability in securities fraud cases, they may soon have a distinct legal edge. "In the past, there was not a strong inclination ... (Tue, 27 Nov 2007 05:12:01 GMT)

Moore urged to support bankruptcy legislation
An industry trade association is urging U.S. Rep. Dennis Moore (D - 3rd District) to support legislation the group says will limit the consequences of an increase in bankruptcy filings. (Tue, 27 Nov 2007 07:14:56 GMT)

Bankruptcy Trustee Suits Cause Increasing Concern for Law Firms
Though they get fewer headlines, bankruptcy trustee suits have largely replaced shareholder class actions in law firm managing partners' nightmares. The suits are often better funded, better lawyered and, with the U.S. (Tue, 27 Nov 2007 08:03:26 GMT)

Should dad pay bankruptcy debt?
Co-signer's legal obligation in Chapter 7 depends on state statute, says the Bankruptcy Adviser. (Tue, 27 Nov 2007 11:00:00 GMT)

Should co-signer pay bankruptcy debt?
Dear Bankruptcy Adviser, I filed a Chapter 7 bankruptcy five years ago. My dad was a co-signer on a credit card and he did not file bankruptcy. The creditor has sold the $7,500 debt to a collection agency to try and collect from my father. (Tue, 27 Nov 2007 12:36:58 GMT)

RSL taken to bankruptcy brink
A SYDNEY RSL club is on the verge of bankruptcy after its CEO paid himself more than $600,000 and set up a $90,000 travel fund for board members. (Tue, 27 Nov 2007 13:00:00 GMT)

Bertone Seeks Bankruptcy Protection
TURIN, Italy — Carrozzeria Bertone, one of Italy's oldest and most renowned coachbuilders, said it is seeking the equivalent of Chapter 11 bankruptcy protection as it tries to reorganize its contract manufacturing business. (Tue, 27 Nov 2007 20:40:29 GMT)

Owner of defunct mortgage business skips bankruptcy hearing
WYOMISSING, Pa. - Hundreds of people victimized by a defunct mortgage company pressed authorities for answers Tuesday about the company's bankruptcy case, but the man they most wanted to hear from was a no-show. (Tue, 27 Nov 2007 21:12:26 GMT)

Bankruptcy case of Save Our Springs Alliance comes to a close
Environmental group and developer trade barbs over repayment plan. Austin's federal bankruptcy courts have long had to hear pleas of protection from developers gone bust. (Wed, 28 Nov 2007 03:56:07 GMT)

Levitz furniture files for bankruptcy
Levitz furniture used to be one of the biggest home furniture retailers in the country. Now it's going through its third bankruptcy in 10 years. What's that mean for you? (Wed, 28 Nov 2007 04:03:51 GMT)

Martin Weiss Takes a Closer Look at the Next Big Bankruptcy In This Issue of Money and Markets
Martin Weiss takes a closer look at the collision between mortgages and bankruptcy. In this issue of Money and Markets, Dr. Weiss examines the reasons why the U.S. could fall into a recession. (PRWeb Nov 28, 2007) (Wed, 28 Nov 2007 08:04:04 GMT)

Terra Securities Declares Bankruptcy
Oslo-based investment house Terra Securities ASA declared bankruptcy Wednesday after national regulators moved to revoke its license for failing to inform Norwegian townships of the high risks of their U.S. investments. (Wed, 28 Nov 2007 10:41:24 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, 28 Nov 2007 10:53:59 GMT)

Financing set for Dana to exit from bankruptcy
Dana Corp. said yesterday it has commitments for $2 billion in financing as it tries to exit Chapter 11 bankruptcy at least by the end of January. (Wed, 28 Nov 2007 11:06:28 GMT)

Senate's Dodd to offer bankruptcy reform bill
A senior lawmaker said on Wednesday that he planned to introduce a bankruptcy reform bill that would give new relief to individuals overwhelmed by mortgage, medical and student loan debt. (Wed, 28 Nov 2007 18:19:23 GMT)

Bankruptcy Judge: Dura Must Line Up Loan
A judge said Wednesday he won't consider confirming Dura Automotive Systems Inc.'s Chapter 11 plan until the company has lined up a $425 million loan to finance its exit from bankruptcy. (Wed, 28 Nov 2007 18:56:28 GMT)

Countrywide asked to turn over documents in bankruptcy cases
The U.S. Trustee has launched an inquiry into Countrywide Financial Corp.'s claims against two South Florida borrowers seeking bankruptcy protection to determine whether actions of the nation's largest mortgage lender "threatened an abuse of the bankruptcy... (Wed, 28 Nov 2007 21:37:59 GMT)

Business Bankruptcy Numbers Continue Upward Trend
Nov. 29, 2007 -- In the third quarter of 2007, 7,167 businesses declared bankruptcy in the third quarter of 2007, bringing the total for 2007 to 20,152 according to the U.S. Bankruptcy Courts. (Thu, 29 Nov 2007 05:03:00 GMT)

Countrywide gets subpoenas from feds for documents in 2 Florida bankruptcy cases
LOS ANGELES - The U.S. Trustee has launched an inquiry into Countrywide Financial Corp.'s claims against two South Florida borrowers seeking bankruptcy protection to determine whether actions of the nation's largest mortgage lender threatened an abuse of the bankruptcy system. (Thu, 29 Nov 2007 05:54:26 GMT)

Countrywide probed in bankruptcy cases
LOS ANGELES - The U.S. Trustee has launched an inquiry into Countrywide Financial Corp.'s claims against two Florida borrowers seeking bankruptcy protection to determine whether actions of the nation's largest mortgage lender "threatened an abuse of the bankruptcy system." (Thu, 29 Nov 2007 09:26:53 GMT)

Dana nears exit from bankruptcy
WASHINGTON–Dana Corp. has secured a $2 billion (U.S.) deal to fund its exit from bankruptcy, a financing package that will require the auto parts maker to emerge from Chapter 11 protection by the end of February, the company said. (Thu, 29 Nov 2007 09:48:58 GMT)

Feds probe Countrywide over bankruptcy cases
Los Angeles- The U.S. Trustee has launched an inquiry into Countrywide Financial Corp.'s claims against two South Florida borrowers who are seeking bankruptcy protection, to determine whether actions of the nation's largest mortgage lender "threatened an abuse of the bankruptcy system." (Thu, 29 Nov 2007 10:00:09 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, 29 Nov 2007 11:13:34 GMT)

Blondie’s files for bankruptcy
A prominent downtown Carlisle bar/restaurant has filed for bankruptcy. (Thu, 29 Nov 2007 15:18:01 GMT)

Solutia emerges from bankruptcy
Solutia Inc. has finally emerged from Chapter 11 bankruptcy after nearly four years thanks to U.S. Bankruptcy Judge Prudence Beatty's confirmation Thursday in New York of Soutia's business reorganization plan , according to a St. (Thu, 29 Nov 2007 20:39:08 GMT)

Calpine to End Pre-Bankruptcy Payments
Calpine Corp. is free to abandon $80 million in payments made to businesses before it filed for bankruptcy, a small portion of the $2 billion it plans to walk away from once its bankruptcy-exit plan is confirmed. (Thu, 29 Nov 2007 21:07:45 GMT)

Solar Stamping bankruptcy changed after it loses GM and financing
WASHINGTON - The assets of Solar Stamping and Manufacturing LLC will be liquidated under a Chapter 7 bankruptcy after the auto parts maker lost its financing and its sole customer, General Motors Corp. (Fri, 30 Nov 2007 00:13:43 GMT)

Bankruptcy court accepts NYRA's disclosure statement
NYRA clears a major hurdle on its way out of debt. A U.S. Bankruptcy court has accepted NYRA's disclosure statement and its plan to reorganize. (Fri, 30 Nov 2007 01:28:43 GMT)

Weil's Bankruptcy Co-Head Leaves for Dewey & LeBoeuf
The co-head of Weil, Gotshal & Manges' bankruptcy practice has left to launch a new practice group for Dewey & LeBoeuf. One of the nation's most well-known bankruptcy lawyers, Martin J. Bienenstock is the first high-profile partner to be recruited by Dewey & LeBoeuf, the product of a recent merger. The loss of Bienenstock follows the March departure of four prominent Weil Gotshal bankruptcy ... (Fri, 30 Nov 2007 05:11:11 GMT)

(AFX UK Focus) 2007-11-30 06:09 GMT: Federal-Mogul's corporate credit to be rated 'BB-' on exit from bankruptcy - S&P
BANGALORE (Thomson Financial) - Standard & Poor's Ratings Services said it expects Federal-Mogul Corp to be assigned its 'BB-' corporate credit rating when the company emerges from bankruptcy, which is likely before the end of the year. (Fri, 30 Nov 2007 06:20:30 GMT)

Federal-Mogul's corporate credit to be rated 'BB-' on exit from bankruptcy - S&P
BANGALORE (Thomson Financial) - Standard&Poor's Ratings Services said it expects Federal-Mogul Corp ( Nachrichten ) to be assigned its 'BB-' corporate credit rating when the company emerges from bankruptcy, which is likely before the end of the year. (Fri, 30 Nov 2007 06:21:09 GMT)

Blondie’s files for bankruptcy
A prominent downtown Carlisle bar/restaurant has filed for bankruptcy. (Fri, 30 Nov 2007 07:06:56 GMT)

Weil's Bankruptcy Co-Head Leaves for Dewey & LeBoeuf
The co-head of Weil, Gotshal & Manges' bankruptcy practice has left to launch a new practice group for Dewey & LeBoeuf. One of the nation's most well-known bankruptcy lawyers, Martin J. (Fri, 30 Nov 2007 08:02:12 GMT)

Ousted chief to chair Guild bankruptcy panel
Former Jockeys' Guild national manager Dr. Wayne Gertmenian, who was ousted in November 2005 amid allegations of financial mismanagement, has been selected to chair a five-member creditors' committee as part of the Guild's bankruptcy reorganization. The committee is made up of creditors with large claims against the Guild and also includes fellow former national manager Dwight Manley. Gertmenian ... (Fri, 30 Nov 2007 08:13:16 GMT)

Bankruptcy Filing Won't Protect SCO From Novell
A federal bankruptcy judge in Delaware has ruled that a trial can go ahead to determine whether the SCO Group owes Novell for licensing of the Unix computer operating system -- a potential bill of $35 million for the Lindon, Utah-based company. Judge Kevin Gross approved a motion by Novell to go ahead with the trial in U.S. District Court in Utah. (Fri, 30 Nov 2007 17:14:37 GMT)

Bankruptcy Filing Won't Protect SCO From Novell
A federal bankruptcy judge in Delaware has ruled that a trial can go ahead to determine whether the SCO Group owes Novell for licensing of the Unix computer operating system -- a potential bill of $35 million for the Lindon, Utah-based company. (Fri, 30 Nov 2007 18:16:17 GMT)

In Maryland Suburbs, Liberal Dems Make Bankruptcy An Issue
UPPER MARLBORO, Md. -(Dow Jones)- Liberal Democratic activists, angered at fellow Democrats for supporting business-friendly bills such as bankruptcy overhaul, plan to get even in the 2008 election cycle. (Fri, 30 Nov 2007 19:42:24 GMT)

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