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Home > Bankruptcy News

Bankruptcy News Feb 2008

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Two banks close to settling claims in A&B bankruptcy
More than a year and a half after the collapse of A&B Check Cashing, the trustee in its bankruptcy case has reached a proposed settlement with two banks where A&B deposited checks. (Mon, 18 Feb 2008 06:05:29 GMT)

Minority suppliers face peril
Plastech, the largest U.S. minority-owned auto parts maker, is fighting for more than its survival in bankruptcy court. The Dearborn-based company's struggle symbolizes the troubles besetting many minority-run suppliers in today's turbulent auto industry. (Mon, 18 Feb 2008 06:15:42 GMT)

Ugly bankruptcy opens up beautiful office space
Tenants looking to get into the coveted JP Morgan Chase building at 560 Mission St. will now have a chance, thanks to the misfortunes of Pay By Touch. The bankrupt biometric firm, which burned through $300 million in funds, has cleared out of its space on floors 6 through 9. (Mon, 18 Feb 2008 07:00:58 GMT)

Bankruptcies
Voluntary petitions filed recently in U.S. Bankruptcy Court for the Western District of New York in Rochester. (Mon, 18 Feb 2008 08:02:24 GMT)

Vallejo bankruptcy woes prompt police, fire exodus
With the city of Vallejo on the brink of bankruptcy, 20 police and fire employees in the past three days have submitted their retirement papers and more are expected to follow, officials reported. (Mon, 18 Feb 2008 10:55:13 GMT)

South Africa: Purple Shares Dive 23 Percent on UK Unit Bankruptcy
PURPLE Capital's share price plunged 23% on Friday after the financial services group said it had asked British authorities to place the UK unit of its subsidiary, Global Trader, under administration after losses by a client caused a shortfall of regulatory capital. (Mon, 18 Feb 2008 13:26:06 GMT)

Loudoun Independent Files Bankruptcy, Publication To Continue
The parent company of the Loudoun Independent newspaper last week filed for Chapter 11 bankruptcy. The owners say the action would permit the newspaper to continue publication while pursuing options to reorganize its debt. (Mon, 18 Feb 2008 13:30:29 GMT)

Fort Lauderdale condo developer files bankruptcy
The developer of Fort Lauderdale's Strada 315 condo sold about 40 percent of the 117 units in the two months since completing construction, but it wasn't enough to keep the builder out of bankruptcy. (Mon, 18 Feb 2008 20:33:41 GMT)

Plastech seeks bankruptcy protection
Chrysler LLC has asked a bankruptcy judge in Detroit to secure permission to retrieve tools and equipment from a troubled component maker. (Mon, 18 Feb 2008 21:29:28 GMT)

Two S. Fla. condo developers file for bankruptcy
Two condo developers filed for bankruptcy last week. The developer of Fort Lauderdale's Strada 315 condo filed for Chapter 11 despite selling about 40 percent of the 117 units in the two months since completing construction. Strada 315 LLC of Delray Beach couldn't persuade Regions Bank to extend a $34.8 million construction loan on the project at 315 NE Fourth St. in Flagler Village. The builder ... (Tue, 19 Feb 2008 08:19:57 GMT)

MSPs to consider making bankruptcy claims easier
NEW regulations aimed at making it easier for people on low incomes to seek bankruptcy came before MSPs today. (Tue, 19 Feb 2008 10:47:12 GMT)

Hedge Funds Holding Up Investors Face Involuntary Bankruptcy
Feb. 19 (Bloomberg) -- Ritchie Capital Management LLC, the operator of four hedge funds that failed since 2006, is fighting what may be an unprecedented bid by investors to recover their money by forcing one of the funds into bankruptcy. (Tue, 19 Feb 2008 13:37:02 GMT)

Cheap bankruptcy deals backed for Scots
Scottish politicians today endorsed a Holyrood Government move to provide a cheap route into bankruptcy for people on low incomes. (Tue, 19 Feb 2008 13:55:45 GMT)

Bankruptcy fear high in Vallejo
Police and fire union negotiators met with city representatives Monday in an urgent effort to hammer out a crisis resolution before the Vallejo City Council votes either for drastic budget cuts or to pursue bankruptcy. Mayor Osby Davis said a resolution to the current crisis - a $10 million cash shortfall - may be presented to the council by Feb. (Tue, 19 Feb 2008 14:22:03 GMT)

Low-paid bankruptcy scheme backed
MSPs have endorsed Scottish Government moves to provide a cheap route into bankruptcy for people on low incomes. But they voiced concerns that this could be abused and justice secretary Kenny MacAskill pledged to report back on how the scheme is found to be working after its first six months. (Tue, 19 Feb 2008 14:48:56 GMT)

South Florida developers file for bankruptcy
Two South Florida condominium developers filed for bankruptcy last week. (Tue, 19 Feb 2008 15:03:44 GMT)

Budget crisis may lead city to bankruptcy
Labor negotiators met Monday in an urgent effort to hammer out a budget crisis resolution before the Vallejo City Council votes for drastic cuts or to pursue bankruptcy. Officials from both sides declined to comment publicly on the (Tue, 19 Feb 2008 15:09:30 GMT)

Music label TVT Records to file for bankruptcy
Former high-flying label TVT Records, home to such hip-hop artists as Lil Jon, Pitbull and Ying Yang Twins, will file for Chapter 11 bankruptcy this week, the company's founder said Tuesday. (Tue, 19 Feb 2008 23:10:29 GMT)

Delphi cuts CEO bonus for bankruptcy exit
Delphi Corp. has cut the cash bonus it had planned to give its chief executive when the company exits bankruptcy by more than $4 million. (Wed, 20 Feb 2008 08:07:38 GMT)

Sharper Image Files for Bankruptcy After Sales Fall (Update1)
Feb. 20 (Bloomberg) -- Sharper Image Corp., the seller of massage chairs and vacuuming robots, filed for bankruptcy protection, citing declining sales and profitability. (Wed, 20 Feb 2008 09:51:57 GMT)

Sharper Image files for bankruptcy
Sharper Image Corp, the store and catalog retailer whose products include air purifiers and massage chairs, has filed for Chapter 11 bankruptcy protection. (Wed, 20 Feb 2008 13:58:22 GMT)

Sharper Image files for Chapter 11 bankruptcy
Retailer Sharper Image Corp has filed for Chapter 11 bankruptcy protection, citing declining sales, three straight years of losses and litigation involving its Ionic Breeze air purifiers. (Wed, 20 Feb 2008 15:08:34 GMT)

Two gift retailers file for bankruptcy
Troubled retailers Sharper Image Corp. and Lillian Vernon Corp. have filed for bankruptcy, pointing to the effects of a weak holiday season and a struggling economy. (Wed, 20 Feb 2008 15:11:51 GMT)

Sharper Image files for Chapter 11 bankruptcy protection
Sharper Image, the store and catalog retailer whose products include air purifiers and massage chairs, has filed for Chapter 11 bankruptcy protection, saying declining sales and three straight years of losses led to a shortage of liquidity. (Wed, 20 Feb 2008 15:13:10 GMT)

Sharper Image Files for Bankruptcy Protection
The San Francisco-based retailer filed for Chapter 11 bankruptcy protection, saying declining sales and three straight years of losses led to a shortage of liquidity. (Wed, 20 Feb 2008 15:38:45 GMT)

Two Gift Retailers File for Bankruptcy
Troubled retailers Sharper Image Corp. and Lillian Vernon Corp. have filed for bankruptcy, pointing to the effects of a weak holiday season and a struggling economy. Both Sharper Image, known for its high-tech novelty gadgets, and Lillian Vernon, which... (Wed, 20 Feb 2008 15:54:44 GMT)

Bankruptcy hits Lillian Vernon, Sharper Image
Weak holiday season and a struggling economy have forced the gadget retailers to file for bankruptcy; Shaper Image hurt by liquidity crisis, tough competition. (Wed, 20 Feb 2008 15:55:55 GMT)

Two gift retailers file for bankruptcy
A weak holiday season and a struggling economy led retailers Sharper Image Corp. and Lillian Vernon Corp. to file for bankruptcy this week, and analysts predict others could soon follow them as consumer spending worsens. (Wed, 20 Feb 2008 21:27:58 GMT)

Bankruptcy
BANKRUPTCY....Megan McArdle reaches back into prehistory (blog years are like dog years) and explains why the 2005 bankruptcy bill was a bad idea:There is [] substantial evidence — good, solid research, not awful surveys — that easy bankruptcy is one... (Thu, 21 Feb 2008 00:01:33 GMT)

Sharper Image Files for Bankruptcy Protection
The San Francisco-based retailer filed for Chapter 11 bankruptcy protection, saying declining sales and three straight years of losses led to a shortage of liquidity. (Thu, 21 Feb 2008 04:38:41 GMT)

Sharper Image, Lillian Vernon in bankruptcy
A weak holiday season and a struggling economy led retailers Sharper Image Corp. and Lillian Vernon Corp. to file for bankruptcy this week, and analysts predict others soon could follow them as consumer spending worsens. (Thu, 21 Feb 2008 09:39:44 GMT)

Recent retailers to declare bankruptcy
Recent retailers to declare bankruptcy Some other retailers that have filed for bankruptcy over the past several months: • Canton, Mass. (Thu, 21 Feb 2008 10:28:10 GMT)

Weak sales lead Lillian Vernon, Sharper Image to bankruptcy
NEW YORK -- A weak holiday season and a struggling economy led Sharper Image Corp. and Lillian Vernon Corp. to file for bankruptcy this week, and analysts predict other retailers could soon, as consumer spending worsens. (Thu, 21 Feb 2008 11:12:11 GMT)

Vallejo in danger of declaring bankruptcy
Vallejo is on the brink of a dubious distinction - becoming the first city in California to declare bankruptcy. The fiscal crisis, which comes more than three years after the state took over the city's debt-ridden public schools, is a result of snowballing... (Thu, 21 Feb 2008 15:58:53 GMT)

Tampa telecom moving out of bankruptcy
NetWolves Corp. has found its exit financing that should be enough to help bring it out of Chapter 11 bankruptcy protection while still maintaining its place in the over-the-counter market. (Thu, 21 Feb 2008 17:41:49 GMT)

Sharper Image Bankruptcy Loans Approved
Specialty retailer Sharper Image Corp. won interim court approval to tap $35 million worth of financing to operate its business while it restructures in bankruptcy. (Thu, 21 Feb 2008 21:26:21 GMT)

Sharper Image files Chapter 11 bankruptcy
Sharper Image Corp., which operates two stores in the St. Louis area, plans to close 90 stores and has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware, the company said Wednesday. (Thu, 21 Feb 2008 22:42:54 GMT)

Vallejo bankruptcy could have far-reaching impact
VALLEJO -- If Vallejo becomes one of the first California cities to file for bankruptcy, the negative effects could be far-reaching, but also may leave the city with a fresh start, experts said Thursday. (Fri, 22 Feb 2008 05:29:57 GMT)

Metropolitan Deluxe closes after battle with bankruptcy
Metropolitan Deluxe, a high-end retail fixture on the peninsula for almost 15 years, closed this week after 18 months of trying to climb out of bankruptcy. (Fri, 22 Feb 2008 06:55:20 GMT)

Wickes Furniture files Chapter 11 bankruptcy
The immediate impact of the bankruptcy on the new Beaumont Wickes Furniture store is unclear at this time. Wickes CEO John Disa's office referred questions on the bankruptcy and possible liquidation to parent company Sun Capital Partners. (Fri, 22 Feb 2008 12:23:26 GMT)

Sharper Image Loses Focus, Files For Bankruptcy
Sharper Image has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware. The San Francisco-based company said it intends to conduct business as usual while it develops a reorganization plan. (Fri, 22 Feb 2008 14:14:49 GMT)

Facing $6M shortfall, Calif city mulls filing for bankruptcy
Residents packed a town hall meeting Thursday night to discuss the city's struggles with a growing deficit that has it on the brink of declaring bankruptcy. (Fri, 22 Feb 2008 15:29:22 GMT)

Facing $6M shortfall, Calif city mulls filing for bankruptcy
Residents packed a town hall meeting Thursday night to discuss the city's struggles with a growing deficit that has it on the brink of declaring bankruptcy. Vallejo officials said the city northeast of San Francisco is faced with a $6 million shortfall... (Fri, 22 Feb 2008 15:51:33 GMT)

Calif City Considers Bankruptcy Filing
Residents packed a town hall meeting Thursday night to discuss the city's struggles with a growing deficit that has it on the brink of declaring bankruptcy. (Fri, 22 Feb 2008 17:23:38 GMT)

Creditors Seek FCDC Coal Bankruptcy
Creditors claiming FCDC Coal Inc. owes them $158 million are trying to push the Pikeville, Ky.-based company into bankruptcy and get a trustee appointed to run its operations. (Fri, 22 Feb 2008 20:20:26 GMT)

Former used-car dealer convicted of bankruptcy fraud
Nazer Ali Haidar, who owned MNJ Used Cars in Wichita, was convicted Thursday on federal charges of bankruptcy fraud. (Fri, 22 Feb 2008 21:32:05 GMT)

Kimball Hill home builder restructures debt to avoid possible bankruptcy
Facing possible bankruptcy, home builder Kimball Hill, Inc. amended agreements with its lenders on Thursday to return the company to compliance with loan covenants, according to a Securities and Exchange Commission filing. (Fri, 22 Feb 2008 21:53:08 GMT)

City of McCall could declare bankruptcy
A long-running legal dispute has the city of McCall on the brink of bankruptcy. After months of struggling to avoid filing for bankruptcy - this time the city may not have a choice.City is deeply in debt (Sat, 23 Feb 2008 00:05:43 GMT)

McCall considering filing for bankruptcy
Town officials are considering filing for Chapter 9 bankruptcy. The city manager says a Chapter 9 municipal bankruptcy may be needed to protect the town. (Sat, 23 Feb 2008 01:20:59 GMT)

Facing $6M Shortfall, Vallejo Considers Bankruptcy
Residents packed a town hall meeting Thursday night to discuss the city's struggles with a growing deficit that has it on the brink of declaring bankruptcy. (Sat, 23 Feb 2008 02:41:41 GMT)

Thompson weighs in on PALCO bankruptcy
Category: Local News Topics: Briefs U.S. Rep Mike Thompson added his name to the growing list of elected state and federal representatives weighing in on the Pacific Lumber Co. bankruptcy proceedings taking place in Texas. (Sat, 23 Feb 2008 07:54:28 GMT)

Bill would help debtors rebound from bankruptcy
Filing for bankruptcy is undoubtedly always painful. (Sat, 23 Feb 2008 08:47:27 GMT)

Cathy Jayne battles bankruptcy
EMBATTLED developer Cathy Jayne Pearce will tomorrow try to delay a bankruptcy notice served on her. (Sat, 23 Feb 2008 14:35:26 GMT)

Bankruptcy courts' help sought on mortgages
With tens of thousands of Americans facing foreclosure unless their mortgage payments are reduced, support is growing to let bankruptcy courts modify mortgage loans. Mortgage companies "are not doing it on their own," said U.S. Rep. Brad Miller, an N.C. Democrat who has proposed legislation allowing courts to modify mortgage loans. "I think that borrowers should have some rights and not just ... (Sat, 23 Feb 2008 16:27:51 GMT)

Bankruptcy Boot Camp: Basic training in bogus mortgage fees
People across the country are losing their homes in the mortgage meltdown. A leading attorney based in Western North Carolina says its often due to hidden and illegal fees on their mortgages. That's why he holds a Bankruptcy Boot Camp to teach other attorneys how to spot bogus fees. (Sun, 24 Feb 2008 14:55:31 GMT)

Bankruptcy filings climb in Dayton area
Kenneth Jordan figured the rash of bankruptcy filings would slow following a 2005 change in the bankruptcy laws. But the Clerk of Courts for the U.S. Bankruptcy Court of Southern Ohio saw a rise of bankruptcy filings last year, which put more pressure on his already lean staff of about 20 people. (Mon, 25 Feb 2008 05:20:09 GMT)

Jurist cuts to chase in PVI bankruptcy case
The opening shots in the bankruptcy battle that will determine the fate of Protected Vehicles Inc. were fired last week. And it took no time at all for the presiding federal jurist to cut to the chase. (Mon, 25 Feb 2008 05:40:40 GMT)

Used-car co. cruises into bankruptcy court
A Dallas venture that had aimed to build a national network of used car lots has filed for Chapter 11 bankruptcy protection, just 15 months after embarking on that strategy. (Mon, 25 Feb 2008 06:17:59 GMT)

Sirva relocation firm declares bankruptcy
Some local real estate firms are waiting to see if Sirva Inc.'s huge Chapter 11 bankruptcy filing will have any impact on their businesses. (SIR) (Mon, 25 Feb 2008 06:18:29 GMT)

You can rebuild your credit after bankruptcy
There is life after bankruptcy, even though your credit is shot. (Mon, 25 Feb 2008 06:36:25 GMT)

When bankruptcy is the best option
A single mom has a good job, but also has two kids, another on the way, an SUV, a time share, student loans and back taxes. Shirley Apollon is going into debt to pay down debts, and after a Money makeover, has determined bankruptcy to be a viable option. (Mon, 25 Feb 2008 09:49:59 GMT)

Congress to consider bankruptcy relief, foreclosure assistance proposals for homeowners
WASHINGTON — Congress is set to examine another round of possible repairs for consumers and investors threatened by widening cracks in the housing market. Proposals include easing bankruptcy rules, shielding banks from lawsuits and providing government assistance to homeowners facing foreclosure. (Mon, 25 Feb 2008 10:02:18 GMT)

Federal court digest: Prosecutors seek lifetime bankruptcy ban
Federal government lawyers last week asked a bankruptcy judge in Mobile to take the unusual step of prohibiting a Stockton woman from ever filing for bankruptcy again in light of her conviction on fraud charges. (Mon, 25 Feb 2008 10:32:03 GMT)

Leverage Inc. Announces Bankruptcy Insurance Policy, Offers Complementary Balance Transfer to Holders of Gift Cards ...
Leverage Inc. today announced a new bankruptcy insurance policy that allows customers holding gift cards purchased via its LeverageCard.com destination from Sharper Image and other merchants filing for Chapter 11 bankruptcy protection to transfer remaining, unredeemable balances to gift cards from other retailers available on the Leverage site. (Mon, 25 Feb 2008 13:00:00 GMT)

Union leader Douglas Fraser helped save Chrysler from bankruptcy
Detroit – Douglas Fraser, who led the United Auto Workers union through dark hours in the 1970s and ’80s and was instrumental in saving Chrysler from bankruptcy, has died. He was 91. (Mon, 25 Feb 2008 15:18:29 GMT)

Vallejo talks break off, city manager recommends bankruptcy
VALLEJO -- A labor agreement aimed at staving off Vallejo's insolvency fell apart Monday, prompting top administrators to recommend the City Council file for bankruptcy protection. (Tue, 26 Feb 2008 05:45:00 GMT)

Vallejo teeters closer to declaring bankruptcy
A labor agreement aimed at keeping Vallejo's general fund from going broke fell apart Monday, prompting top administrators to recommend the city file for bankruptcy protection. (Tue, 26 Feb 2008 07:15:18 GMT)

Sharper Image to be delisted from Nasdaq in wake of bankruptcy
Sharper Image says its shares will stop trading on the Nasdaq Stock Market because of concerns raised by the specialty retailer's recent bankruptcy. (Tue, 26 Feb 2008 09:47:07 GMT)

Fort Mill-based firm files for bankruptcy
Wellman Inc., a Fort Mill-based company and one of the nation’s largest polyester producers, has filed for bankruptcy, saying it lost its ability to pay its debts from a combination of Hurricane Katrina to foreign competition. The company filed a Chapter 11 petition in U.S. Bankruptcy Court in New York on Friday, listing $684 million in liabilities and $499 million in assets. The company has 820 ... (Tue, 26 Feb 2008 12:00:36 GMT)

Vallejo City Council to discuss filing for bankruptcy
The city of Vallejo appears edging closer to bankruptcy. (Tue, 26 Feb 2008 13:14:22 GMT)

Vallejo City Council to discuss filing for bankruptcy
VALLEJO, Calif. (AP) - The city of Vallejo appears edging closer to bankruptcy. After labor talks aimed at keep Vallejo solvent broke off Monday night, the city manager recommended the City Council file for bankruptcy protection. (Tue, 26 Feb 2008 13:17:25 GMT)

Drought Causes Pike's Nursery Bankruptcy
A well-known 50-year-old Atlanta nursery forced to file bankruptcy after the drought gripping the Southeast killed sales will be auctioned Tuesday. Pike Nursery Holding employed more than 750 people when it filed for bankruptcy in November. (Tue, 26 Feb 2008 14:04:25 GMT)

Flight training school files for bankruptcy
Silver State Helicopters, a Nevada-based flight training school, filed for Chapter 7 bankruptcy, leaving former students with thousands of dollars in student loans for training they never received. (Tue, 26 Feb 2008 15:25:01 GMT)

White House: Can't Support Proposed Bankruptcy-Rule Changes
WASHINGTON -(Dow Jones)- The White House said Tuesday that it won't back legislation easing bankruptcy rules, a measure expected to be taken up this week in the Senate as part of the effort to ease the housing crisis. (Tue, 26 Feb 2008 15:27:47 GMT)

McCall authorizes bankruptcy resolution
The McCall City Council passed a resolution Monday allowing the city to file Chapter 9 bankruptcy, but they did so conditionally. An attorney for one of the parties in litigation with the city showed up - prompting an impromptu negotiation. (Tue, 26 Feb 2008 15:35:31 GMT)

Solutia granted bankruptcy court approval for exit financing package
Solutia Inc. said Tuesday it received bankruptcy court approval of its $2.05 billion exit financing package that will allow the company to emerge from bankruptcy on Thursday, more than four years after originally filing for Chapter 11 protection. (Tue, 26 Feb 2008 20:37:53 GMT)

Solutia ready to exit bankruptcy Thursday
The final piece of Solutia Inc.'s bankruptcy puzzle fell into place Tuesday. It looked like blue sky to Chief Executive Jeffry Quinn. (Wed, 27 Feb 2008 04:35:45 GMT)

Emotions run high as Vallejo mulls bankruptcy options
VALLEJO -- An agreement to head off Vallejo's bankruptcy was about to be cemented when the city manager stepped in and nixed it, the president of Vallejo's powerful fire union told the Vallejo City Council and hundreds of worried residents Tuesday. (Wed, 27 Feb 2008 06:59:57 GMT)

Vallejo may file for bankruptcy
A labor agreement aimed at staving off Vallejo's general fund insolvency fell apart Monday, prompting top administrators to recommend the City Council file for bankruptcy protection. (Wed, 27 Feb 2008 11:08:19 GMT)

Bankruptcy judge cues students on solvency
At one time, bankruptcy was the last resort of families suffering through the depletion of life savings because of serious illness, divorce or death. (Wed, 27 Feb 2008 11:58:08 GMT)

Bankruptcy forces sale of FARR property
Bankruptcy, foreclosure and acquisition explain why a company that once had operations in Bowling Green recently had its building sold. (Wed, 27 Feb 2008 14:28:51 GMT)

Vallejo City Council discusses filing for bankruptcy
Vallejo officials met tonight to discuss the city's financial troubles, which are pushing it closer to declaring bankruptcy. (Wed, 27 Feb 2008 15:01:22 GMT)

Vallejo City Council expected to vote tomorrow night on bankruptcy
Associated Press - February 27, 2008 10:04 AM ET VALLEJO, Calif. (AP) - Emotions are running high in Vallejo as the city moves closer to bankruptcy. (Wed, 27 Feb 2008 15:08:44 GMT)

Vallejo City Council expected to vote tomorrow night on bankruptcy
VALLEJO, Calif. (AP) - Emotions are running high in Vallejo as the city moves closer to bankruptcy. More than 250 people crowded into a meeting last night as the Vallejo City Council met to discuss the city's financial troubles. (Wed, 27 Feb 2008 15:17:25 GMT)

Vallejo Inching Closer To Bankruptcy
Emotions are running high in Vallejo as the city moves closer to bankruptcy. (Wed, 27 Feb 2008 15:31:36 GMT)

Senate Dems Stick To Controversial Bankruptcy Change
Senate Majority Leader Harry Reid (D-Nev.) signaled Wednesday that Democrats will not back down on their commitment to a controversial bankruptcy provision of their “housing stimulus” package, even if it means the defeat of the measure. The White House issued a veto threat against the legislation yesterday, singling out the bankruptcy piece as one of the main reasons for administration ... (Wed, 27 Feb 2008 20:15:20 GMT)

Cash-strapped Vallejo faces bankruptcy in worsening budget crisis
The city of Vallejo may be forced to declare bankruptcy as it grapples with a worsening budget crisis caused by falling tax revenue, rising payroll expenses and a slumping housing market. (Thu, 28 Feb 2008 02:29:32 GMT)

Cash-strapped Vallejo faces bankruptcy in worsening budget crisis
The city of Vallejo may be forced to declare bankruptcy as it grapples with a worsening budget crisis caused by falling tax revenue, rising payroll expenses and a slumping housing market. The Vallejo City Council is expected to vote Thursday on whether... (Thu, 28 Feb 2008 02:51:44 GMT)

City Leaders Scramble To Save Vallejo From Bankruptcy
Vallejo city leaders will be negotiating with public safety unions Thursday morning in hopes of coming to an agreement to stave off bankruptcy. (Thu, 28 Feb 2008 03:59:26 GMT)

City works to avoid going into bankruptcy
VALLEJO -- As Vallejo geared up for tonight's showdown on the city's fiscal crisis, the mayor, staff and public safety unions held eleventh-hour negotiations Wednesday to fashion a deal to stave off bankruptcy. (Thu, 28 Feb 2008 11:31:36 GMT)

Cash-strapped SF suburb of Vallejo, Calif., faces bankruptcy in worsening budget crisis
SAN FRANCISCO (AP) -- A Bay Area suburb grappling with declining revenue and ballooning employee expenses may become the first city in the state to declare bankruptcy. (Thu, 28 Feb 2008 11:46:37 GMT)

US: Fibre maker Wellman in bankruptcy filing
This article is locked. You need to be a Full Member of just-style to view this article. Existing users, please login at the top of the page. Summary: Polyester fibre maker Wellman Inc has filed for Chapter 11 bankruptcy protection after struggling against rising raw material costs and high levels of debt. (Thu, 28 Feb 2008 14:24:45 GMT)

Solutia emerges from bankruptcy
Solutia Inc. this morning announced that it has emerged from Chapter 11 bankruptcy protection after receiving $2.05 billion in exit financing. The financing was provided by Citigroup Inc., Goldman Sachs Group Inc. and Deutsche Bank AG. (Thu, 28 Feb 2008 14:35:12 GMT)

Vallejo may file for bankruptcy
Vallejo may become the first city in the state to declare bankruptcy. (Thu, 28 Feb 2008 14:55:31 GMT)

Cash-Strapped Vallejo to Decide on Bankruptcy Tonight
The Vallejo City Council is expected to decide tonight whether to file for bankruptcy. (Thu, 28 Feb 2008 15:52:48 GMT)

Calif. city faces bankruptcy
A Bay Area suburb grappling with declining revenue and ballooning employee expenses may become the first city in the state to declare bankruptcy over a budget shortfall. (Thu, 28 Feb 2008 19:00:08 GMT)

NY prosecutor asks changes in bankruptcy code
A top New York prosecutor on Thursday called on the U.S. Congress to amend federal bankruptcy rules, saying a double standard in the way individuals and corporations are treated could be seen as unpatriotic. (Thu, 28 Feb 2008 22:52:12 GMT)

Slump, Costs, Put Vallejo on Brink of Bankruptcy
A San Francisco suburb that has been hit hard by the sagging housing market is on the verge of going broke. Officials in Vallejo, Calif., will decide whether to declare bankruptcy this week, as they face big increases for police and fire protection -- and sagging tax revenues. (Thu, 28 Feb 2008 23:00:57 GMT)

Calif. city of 120,000 faces bankruptcy
A Bay Area suburb grappling with declining revenue and ballooning employee expenses postponed a vote on Thursday on whether to become the first city in the state to declare bankruptcy over a budget shortfall. (Fri, 29 Feb 2008 03:27:11 GMT)

California City May Avert Bankruptcy After Labor Deal Struck
Feb. 29 (Bloomberg) -- Vallejo, California, may avert becoming the largest city in the state to file for bankruptcy after 11th-hour talks with police and fire unions led to a deal to help the San Francisco suburb avoid going broke. (Fri, 29 Feb 2008 05:45:36 GMT)

California city has deal to stave off bankruptcy
Officials in Vallejo, California hammered out a financial agreement late on Thursday with police and fire-fighters that may allow the cash-strapped former Navy town to avoid becoming the first sizeable city in the state to file for bankruptcy. (Fri, 29 Feb 2008 05:59:09 GMT)

Vallejo to unveil deal to avoid bankruptcy
The city was hit hard by the closure of Mare Island Naval Yard and public safety costs. Its mayor says an agreement with labor leaders has been reached. This onetime shipyard city turned Bay Area commuter village appears to have averted a move that is rare in California and across the nation -- declaring bankruptcy. (Fri, 29 Feb 2008 08:41:46 GMT)

Vallejo strikes deal to avoid bankruptcy
A last-minute deal between city leaders and labor unions could allow this cash-strapped Bay Area suburb to avoid becoming the first city in the state to declare bankruptcy over a budget shortfall. (Fri, 29 Feb 2008 10:42:45 GMT)

11th-hour deal halts bankruptcy
VALLEJO -- An 11th-hour deal was struck Thursday between Vallejo and its public safety unions that could head off bankruptcy. Mayor Osby Davis told an overflow crowd at City Hall on Thursday night that details of the proposed agreement will be available in a staff report today. (Fri, 29 Feb 2008 11:22:12 GMT)

Vallejo May Avoid Bankruptcy
A last-minute deal between Vallejo city leaders and labor unions could allow this cash-strapped municipality to temporarily solve its budget crisis and avoid filing for bankruptcy. (Fri, 29 Feb 2008 14:34:47 GMT)

Bankruptcy: a Drastic Step but Sometimes the Wisest One
John Ventura is on a mission to inform consumers about their credit, debt and rights in a bankruptcy. (Fri, 29 Feb 2008 21:29:48 GMT)

Bankruptcy Court approves settlement in Decker College case
Attorney General Jack Conway says the U.S. Bankruptcy Court has approved a settlement in the Decker College bankruptcy case in Louisville. (Fri, 29 Feb 2008 22:21:59 GMT)

Bankruptcy Watchdogs Battle Countrywide
In a move that escalates the legal trouble faced by Countrywide Financial Corp., federal watchdogs have asked courts to sanction the big mortgage lender for alleged abuses of the bankruptcy system. (Fri, 29 Feb 2008 22:48:05 GMT)

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