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Home > Bankruptcy News

Bankruptcy News May 2008

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Oregon's largest mental health provider fears bankruptcy
The new CEO of Cascadia Behavioral Healthcare says the agency doesn't have $2 million to pay a bank loan by a Thursday deadline. "If they call it on Thursday, there is a very high probability if that were to occur that we would file bankruptcy," said Dr. Derald Walker. (Thu, 01 May 2008 02:08:04 GMT)

Leawood company involved in energy project declares bankruptcy
A Leawood company that hoped to develop a wind-powered energy project in Pennsylvania has declared bankruptcy. (Thu, 01 May 2008 03:33:07 GMT)

Judge approves diocese's bankruptcy plan
A bankruptcy judge approved the plan Wednesday that will allow the Diocese of Davenport to emerge from bankruptcy, its parishes and schools to be released from liability for sex abuse claims and 156 claimants to begin receiving payments from a $37 million settlement this summer. (Thu, 01 May 2008 05:19:02 GMT)

Builder, his firms file for bankruptcy
The real estate bust has claimed another developer. Clackamas County homebuilder Tony Marnella and three of his companies filed for Chapter 11 bankruptcy earlier this month. (Thu, 01 May 2008 07:14:15 GMT)

Bankruptcy Fraud Sentencing Today For Contractor Cone
TAMPA – Eight years after the state Department of Transportation fired Cone Constructors as general contractor for a $75 million project to build a section of the Suncoast Parkway, Michael Cone is scheduled to be sentenced this morning for bankruptcy fraud. (Thu, 01 May 2008 12:33:33 GMT)

Nursing home operator Marathon files for bankruptcy protection
Marathon Healthcare Inc., an East Hartford-based nursing home company that operates six facilities in Connecticut, including in Waterbury, Torrington and Prospect, filed for bankruptcy protection late Thursday. (Thu, 01 May 2008 12:59:08 GMT)

Bankruptcy fraud: Gettysburg woman pleads guilty
A Gettysburg woman may face up to five years in prison after pleading guilty to bankruptcy fraud in Maryland. (Thu, 01 May 2008 14:45:04 GMT)

Linens 'n Things files for bankruptcy protection
Bedding- and home-furnishing retailer Linens 'n Things on Friday filed for Chapter 11 bankruptcy protection, the latest major retailer to succumb to the difficult consumer environment. The company's parent, Linens Holding Co., filed a petition in bankruptcy... (Fri, 02 May 2008 12:41:56 GMT)

Linens 'n Things files for bankruptcy 7:26 AM CT
NEW YORK – Linens 'n Things is filing for bankruptcy protection, the latest major retailer to succumb to the difficult retail environment. The bedding- and home-furnishings retailer's parent, Linens Holding Co., has filed a petition for Chapter 11 bankruptcy protection in Delaware. (Fri, 02 May 2008 12:52:43 GMT)

Linens 'n Things Files For Bankruptcy Protection
Bedding- and home-furnishing retailer Linens 'n Things on Friday filed for Chapter 11 bankruptcy protection, the latest major retailer to succumb to the difficult retail environment. (Fri, 02 May 2008 13:18:15 GMT)

Linens 'n Things files for bankruptcy protection
Linens 'n Things is filing for bankruptcy protection, the latest major retailer to succumb to the difficult retail environment. (Fri, 02 May 2008 13:29:45 GMT)

Linens ’n Things files for bankruptcy protection
NEW YORK — Clifton-based bedding- and home-furnishing retailer Linens ’n Things today filed for Chapter 11 bankruptcy protection, the latest major retailer to succumb to the difficult consumer environment. (Fri, 02 May 2008 13:52:23 GMT)

Linens 'n Things files for bankruptcy
Home goods retailer Linens 'n Things has filed for Chapter 11 bankruptcy protection and plans to close 120 underperforming stores, the company said on Friday. (Fri, 02 May 2008 13:59:02 GMT)

Linens 'n Things files for bankruptcy protection
Bedding- and home-furnishing retailer Linens 'n Things on Friday filed for Chapter 11 bankruptcy protection, the latest major retailer to succumb to the difficult consumer environment. (Fri, 02 May 2008 14:15:50 GMT)

Linens 'n Things files for bankruptcy protection
NEW YORK -- Bedding- and home-furnishing retailer Linens 'n Things today filed for Chapter 11 bankruptcy protection, the latest major retailer to succumb to the difficult consumer environment. (Fri, 02 May 2008 14:35:15 GMT)

Bankruptcy Judge Approves Financing For Plastech
Federal bankruptcy judge has approved financing that allows struggling auto parts maker to keep operating through Aug. 31. (Fri, 02 May 2008 14:42:53 GMT)

Linens 'n Things files for bankruptcy, plans to shut 120 stores
The operator of Linens ‘n Things home furnishings retail chain files for Chapter 11 bankruptcy protection with plans to shut 120 underperforming stores. (Fri, 02 May 2008 14:53:39 GMT)

Linens 'n Things files for bankruptcy
Home goods retailer Linens 'n Things has filed for Chapter 11 bankruptcy protection and plans to close 120 underperforming stores, the company said on Friday. (Fri, 02 May 2008 15:55:28 GMT)

Lionel steams out of bankruptcy, eyes new markets
Lionel LLC has emerged from bankruptcy protection, ending more than three years of restructuring and a bitter fight with a rival model train company. (Fri, 02 May 2008 21:59:19 GMT)

Bankruptcy for US linen retailer
Retailer Linens 'n Things files for bankruptcy protection, citing problems in the credit and housing markets. (Fri, 02 May 2008 22:40:22 GMT)

Nvidia wins federal lawsuit on bankruptcy of competitor 3dfx
Graphic chip supplier Nvidia Corp. said Friday that a federal bankruptcy court has rejected a $100 million claim that it unfairly obtained the assets of former competitor 3dfx Interactive Inc. (Fri, 02 May 2008 22:52:06 GMT)

Linens 'n Things files for bankruptcy protection
A Chapter 11 bankruptcy filing by Linens 'n Things is the latest sign that the retail sector is becoming leaner and meaner amid a difficult consumer environment. (Fri, 02 May 2008 23:02:54 GMT)

Vallejo city manager advises bankruptcy
Vallejo's city manager advised the City Council on Friday to declare bankruptcy next week after weeks of negotiations with police and fire unions failed to turn around the city's economic tailspin. If the council votes Tuesday to file for Chapter 9... (Sat, 03 May 2008 05:25:45 GMT)

Chapter 11 for Linens 'n Things / Retailer files for bankruptcy after big drop in profit
A Chapter 11 bankruptcy filing by Linens 'n Things is the latest sign that the retail sector is becoming leaner and meaner amid a difficult consumer environment. On Friday, the bedding and home-furnishing retailer filed a petition in bankruptcy court in... (Sat, 03 May 2008 07:45:41 GMT)

Vallejo, California, Manager Recommends Bankruptcy; Vote Set
May 3 (Bloomberg) -- The Northern California city of Vallejo should file for bankruptcy after talks with public safety labor unions failed to produce enough savings to keep the San Francisco suburb solvent, the city manager recommends. (Sat, 03 May 2008 08:08:08 GMT)

Linens 'n Things files for bankruptcy protection
Clifton-based housewares retailer Linens 'n Things filed for Chapter 11 bankruptcy protection Friday, a move the company said will allow it to get its financial house in order and emerge stronger. (Sat, 03 May 2008 13:37:00 GMT)

City manager says Vallejo should file for bankruptcy
Vallejo's city manager is advising the City Council to declare bankruptcy next week to deal with a worsening budget crisis. (Sat, 03 May 2008 17:24:24 GMT)

Vallejo city manager advises bankruptcy
Vallejo's city manager advised the City Council on Friday to declare bankruptcy next week after weeks of negotiations with police and fire unions failed to turn around the city's economic tailspin. If the council votes Tuesday to file for Chapter 9... (Sat, 03 May 2008 17:47:47 GMT)

Nursing home operator Marathon files for bankruptcy protection
Marathon Healthcare Inc., an East Hartford-based nursing home company that operates six facilities in Connecticut, including in Waterbury, Torrington and Prospect, filed for bankruptcy protection late Thursday. (Sun, 04 May 2008 05:12:31 GMT)

Area bankruptcy filings back on the rise
Mortgage debt, credit-card bills and business problems are sending people in the Lower Hudson Valley to Bankruptcy Court in sharply higher numbers this year. (Sun, 04 May 2008 06:34:13 GMT)

Bankruptcy conferences: Comfortable seat, uncomfortable circumstances
The debtors who appear in hearings before attorney and bankruptcy trustee Mark Tulis often speak in low voices. "You've got to be louder," Tulis told one young man with $48,000 in debt during Thursday's hearing at the federal courthouse in White Plains. (Sun, 04 May 2008 06:34:23 GMT)

State’s largest mental health provider fears bankruptcy
PORTLAND (AP) — Oregon’s largest provider of mental health and addiction services says it is on the verge of filing for bankruptcy protection. (Sun, 04 May 2008 09:46:35 GMT)

Linens ’n Things bankruptcy filing latest sign of bruised retail sector
NEW 2:20 p.m. NEW YORK -- A Chapter 11 bankruptcy filing by Linens ’n Things is the latest sign that the retail sector is becoming leaner and meaner amid a difficult consumer environment. (Sun, 04 May 2008 10:01:34 GMT)

Vallejo city manager recommends bankruptcy filing
Without an agreement to cut the costs of employee contracts, Vallejo's top administrators recommended Friday the council authorize the city manager to file for bankruptcy. Despite nearly two months of mediation sessions with employee union groups, Vallejo's finances are no better, a city report says. (Sun, 04 May 2008 14:36:42 GMT)

Star Tribune Bankruptcy Speculation
According to an article released by the New York Post Sunday, Minneapolis newspaper Star Tribune is on the verge of bankruptcy. The Star Tribune has denied these allegations. (Mon, 05 May 2008 04:14:17 GMT)

Housing woes join traditional causes to drive up bankruptcy filings
An economy on the edge of recession and a busted real estate market contributed to an increase in bankruptcy filings across Ohio, including the Columbus area, in the first quarter. (Mon, 05 May 2008 04:27:08 GMT)

Bankruptcy bill would let filers keep more money
A bill moving through the Ohio legislature could give those filing for bankruptcy a hand in their reach for a fresh start, but critics complain it also could trigger more problems. (Mon, 05 May 2008 05:24:24 GMT)

Assets squabble pushes Dorado to bankruptcy
A Dallas-based oil and gas producer and its sister company have filed for bankruptcy protection in a tug-of-war over their assets with their New York lenders. (Mon, 05 May 2008 05:24:54 GMT)

'Star Tribune' Disputes Report It Is Near Bankruptcy
MINNEAPOLIS The Star Tribune has hired a private equity firm to advise it, but is disputing a published report that says it's "on the brink of bankruptcy." (Mon, 05 May 2008 07:04:24 GMT)

Nursing home operator Marathon files for bankruptcy protection
Marathon Healthcare Inc., an East Hartford-based nursing home company that operates six facilities in Connecticut, including in Waterbury, Torrington and Prospect, filed for bankruptcy protection late Thursday. (Mon, 05 May 2008 10:56:58 GMT)

Hawaii bankruptcy filings rise by 25%
The number of bankruptcy filings in Hawai'i climbed during April, as overextended consumers sought to get out from mounting credit card debt and avoid foreclosure. (Mon, 05 May 2008 11:06:23 GMT)

Star Tribune disputes that it is on 'brink of bankruptcy'
The Star Tribune of Minneapolis has hired a private equity firm to advise it, but disputed a published report suggesting it is "on the brink of bankruptcy." (Mon, 05 May 2008 12:38:51 GMT)

Star Tribune denies bankruptcy report
The Minneapolis Star Tribune may be on the verge of bankruptcy, according to a report in the New York Post on Sunday. (Mon, 05 May 2008 14:10:49 GMT)

BANKRUPTCY: Linens 'n Things
A Chapter 11 bankruptcy filing by Linens 'n Things is the latest sign that the retail sector is becoming leaner and meaner amid a difficult consumer environment. (Mon, 05 May 2008 14:54:52 GMT)

GMAC Buys Time for ResCap Unit as Threat of Bankruptcy Looms
May 6 (Bloomberg) -- GMAC LLC, the car and home lender struggling to avert bankruptcy for Residential Capital LLC, may keep the mortgage business afloat long enough to find a buyer or break it up. (Tue, 06 May 2008 04:23:36 GMT)

Tropicana casino group files for bankruptcy
The owner of Tropicana Las Vegas Hotel and Casino filed for bankruptcy but promised to keep the roulette wheels cranking and the showgirls vamping while courts decide the company's fate. (Tue, 06 May 2008 08:52:38 GMT)

U.S. April Business Bankruptcy Filings Increase 49% (Update1)
May 6 (Bloomberg) -- U.S. business bankruptcy filings in April increased 49 percent from a year earlier, the biggest gain so far this year, as the slowing economy prompted more companies to shut down. (Tue, 06 May 2008 11:23:18 GMT)

Tropicana files for Chapter 11 bankruptcy protection
Casino operator Tropicana Entertainment filed for Chapter 11 bankruptcy protection late Monday after missing an interest payment on a loan last week, according to the Wall Street Journal. (Tue, 06 May 2008 11:50:52 GMT)

Casino's Bankruptcy Signals Gambling Boom's Bust
Casino operator Tropicana Entertainment has filed for bankruptcy protection. And there are signs the economic downturn is spreading to the gambling industry. (Tue, 06 May 2008 12:36:14 GMT)

Tropicana Casinos Co. Files for Bankruptcy
Tropicana files for bankruptcy after losing its Atlantic City license. (Tue, 06 May 2008 13:38:29 GMT)

Owner of the Tropicana casinos files for bankruptcy
The owner of Tropicana casinos in Atlantic City and Las Vegas has filed for Chapter 11 bankruptcy protection, nearly five months after New Jersey regulators stripped the Tropicana Casino and Resort of its license. (Tue, 06 May 2008 13:55:43 GMT)

Tropicana Entertainment files for bankruptcy protection
A smack administered in December by New Jersey regulators who stripped the Tropicana Casino and Resort of its casino license was felt in gambling markets across the country Monday as Tropicana Entertainment LLC filed for Chapter 11 bankruptcy protection. (Tue, 06 May 2008 14:12:52 GMT)

Casino Aztar parent files for bankruptcy
Tropicana Entertainment LLC, parent of Casino Aztar in Evansville, Ind., said Monday it has filed for protection under Chapter 11 of the U.S. Bankruptcy Code. (Tue, 06 May 2008 14:18:52 GMT)

U.S. April Business Bankruptcy Filings Increase 49% (Update2)
May 6 (Bloomberg) -- Business bankruptcy filings in the U.S. increased 49 percent in April from a year earlier, the biggest gain so far in 2008, as the slowing economy prompted more companies to shut down. (Tue, 06 May 2008 14:38:08 GMT)

Vallejo votes to declare bankruptcy
Vallejo voted to declare bankruptcy Tuesday night after months of last-ditch wrangling failed to rescue the city from financial catastrophy. The North Bay city of 117,000 now heads into largely unchartered territory, as no California city of this size has... (Wed, 07 May 2008 02:41:11 GMT)

Vallejo set to become the largest Calif. city to declare bankruptcy
Vallejo is set to become the largest California city to declare bankruptcy after leaders voted in favor of it to solve the San Francisco Bay Area suburb's spiraling budget crisis. (Wed, 07 May 2008 06:53:15 GMT)

Vallejo, California City Officials Vote to File for Bankruptcy
May 7 (Bloomberg) -- Vallejo, California's city council voted to go into bankruptcy, saying the city doesn't have enough money to pay its bills after talks with labor unions failed to win salary concessions from fire fighters and police. (Wed, 07 May 2008 07:53:18 GMT)

Vallejo to become largest city in state to file for bankruptcy
Vallejo is set to become the largest California city to declare bankruptcy after leaders voted in favor of the solution to its spiraling budget crisis. (Wed, 07 May 2008 08:02:19 GMT)

U.S. April business bankruptcy filings increase 49%
NEW YORK — Business bankruptcy filings in the U.S. increased 49 percent in April from a year earlier, the biggest gain so far in 2008, as the slowing economy prompted more companies to shut down. (Wed, 07 May 2008 08:12:07 GMT)

San Francisco Suburb To Declare Bankruptcy
Vallejo is set to become the largest California city to declare bankruptcy after leaders voted in favor of the solution to the city's spiraling budget crisis. (Wed, 07 May 2008 10:00:01 GMT)

Vallejo votes for bankruptcy unanimously
The Vallejo City Council voted unanimously Tuesday night to declare bankruptcy. (Wed, 07 May 2008 13:29:20 GMT)

Vallejo Votes For Bankruptcy
A City Council vote Tuesday night means the city of Vallejo will move ahead with plans to become the first California city to file for Chapter 9 bankruptcy protection. (Wed, 07 May 2008 13:38:54 GMT)

Vallejo To Become Largest Calif. City To File For Bankruptcy
Vallejo (vuh-LAY'-hoh) is set to become the largest California city to declare bankruptcy after leaders voted in favor of it to solve a spiraling budget crisis. (Wed, 07 May 2008 13:57:29 GMT)

Vallejo to become largest Calif. city to file for bankruptcy
VALLEJO, Calif. Vallejo is set to become the largest California city to declare bankruptcy after leaders voted in favor of the solution to its spiraling budget crisis. (Wed, 07 May 2008 14:45:40 GMT)

Vallejo, California, Plans to File for Bankruptcy (Update2)
May 7 (Bloomberg) -- Vallejo, California, officials voted to file for bankruptcy because the San Francisco suburb isn't able pay its bills after costs for police and firefighters soared and the housing market's slide cut into tax revenue. (Wed, 07 May 2008 18:08:25 GMT)

As filings soar, so does bankruptcy's personal toll
The saddest hour of Mary Smith's day started at 4 p.m. inside a hearing room at U.S. Bankruptcy Court in Sacramento. In just minutes, she would publicly reveal to everyone assembled how deeply mired she is in money problems. (Thu, 08 May 2008 07:21:30 GMT)

Vallejo to become largest Calif. city to file for bankruptcy
VALLEJO — Vallejo is set to become the largest California city to declare bankruptcy after leaders voted in favor of the solution to its spiraling budget crisis. (Thu, 08 May 2008 07:30:19 GMT)

City of Vallejo to declare bankruptcy
Vallejo has become the first city of its size in California to seek bankruptcy protection. The decision to file for bankruptcy came in a unanimous vote by the city council Tuesday night as hundreds of residents watched. (Thu, 08 May 2008 09:20:25 GMT)

Vallejo officials opt for bankruptcy
Vallejo city officials voted to file for bankruptcy because the San Francisco suburb isn't able pay its bills after costs for police and firefighters soared and the housing market's slide cut into tax revenue. (Thu, 08 May 2008 10:03:49 GMT)

SIRV: Bankruptcy Court Approves Chapter 11 Plan of Reorganization
SIRVA, Inc. (SIRV) announced that Judge James M. Peck of the U.S. Bankruptcy Court for the Southern District of New York has approved the Company's pre-packaged Chapter 11 Plan of Reorganization, clearing the way for SIRVA and its subsidiaries to emerge from Chapter 11 in short order. (Thu, 08 May 2008 13:21:11 GMT)

Vallejo, looking to bankruptcy, consoles citizens
In the wake of the city of Vallejo's decision to declare bankruptcy, city officials Wednesday assured citizens that municipal services will continue uninterrupted and that a move to bankruptcy court will begin immediately. The City Council late Tuesday night unanimously agreed to seek bankruptcy protection, after two months of intensive mediation sessions with employee unions failed to produce a (Thu, 08 May 2008 13:21:38 GMT)

Benicia, AmCan likely to feel effects of Vallejo's bankruptcy
Effects of Vallejo's momentous bankruptcy decision may transcend the city's borders, neighboring city officials said Wednesday. In Benicia, city officials' most oft-cited concern was an increased burden on public safety agencies. (Thu, 08 May 2008 14:09:25 GMT)

Vallejo residents weigh in on bankruptcy vote
While Vallejoans sipped drinks Wednesday at Panama Red on the waterfront, opinions shared on Vallejo's future were as varied as their coffee orders. About a day after the Vallejo City Council decided to file bankruptcy, many residents said (Thu, 08 May 2008 14:10:37 GMT)

Calif. City to File for Bankruptcy
Vallejo is set to become the largest California city to file for bankruptcy. (Thu, 08 May 2008 14:46:55 GMT)

Miami firm takes over Shapes/Arch bankruptcy financing
The Miami buyout firm H.I.G. Capital Partners L.L.C. has gained control of bankruptcy financing for Shapes/Arch Holdings L.L.C. (Thu, 08 May 2008 18:09:51 GMT)

Vallejo votes to file for bankruptcy
Vallejo will become the largest city in the state to file for bankruptcy. (Thu, 08 May 2008 20:05:20 GMT)

Valley-area bankruptcy filings skyrocket
Filings last month rose to its fastest pace since bankruptcy laws were tightened three years ago. (Thu, 08 May 2008 21:38:12 GMT)

Bankruptcy Filings Up Georgia...How You Can Avoid Becoming A Statistic
Columbus, GA (WTVM)--New statistics from the American Bankruptcy Institute show Georgia ranks 2nd in the nation in consumer bankruptcy filings. For the first quarter of the year, there were nearly 13,000 filings, up 16% from the same period last year. (Thu, 08 May 2008 22:28:03 GMT)

Bankruptcy may be Rezko's next challenge
A Wilmette businessman who testified last week against political fundraiser Antoin "Tony" Rezko at his federal corruption trial sought Thursday to force Rezko's bankruptcy over his failure to repay more than $18 million. (Fri, 09 May 2008 03:07:11 GMT)

Bankruptcy trustee sues McLean investors
Wayne Allen, who lost most of his life's savings in a financial swindle masterminded by the late Bob W. McLean of Murfreesboro, is outraged that the bankruptcy trustee handling McLean's estate is now going after him. (Fri, 09 May 2008 08:04:05 GMT)

Fremont General says may file for bankruptcy
NEW YORK, May 9 - Fremont General Corp , which is selling assets after regulators ordered it last year to stop subprime mortgage lending, on Friday said it may file for bankruptcy protection. (Fri, 09 May 2008 13:23:53 GMT)

City May Have To Declare Bankruptcy
According to a report, unless the city of Spring Hill does something drastic it might have to declare bankruptcy. Video (Fri, 09 May 2008 17:37:59 GMT)

Federal Reserve Joins Bankruptcy Pro Bono Efforts
A unique partnership between the federal government and the New York City Bar Association is the latest of several initiatives by which attorneys are volunteering to help individuals caught in the kind of financial distress registered by record numbers of bankruptcy filings, home foreclosures, evictions and debt recovery litigation. (Fri, 09 May 2008 18:38:28 GMT)

Lewisville home builder files for bankruptcy
John S. Card Residential Builders Inc. has filed for Chapter 7 bankruptcy in the Middle District of North Carolina of U.S. Bankruptcy Court. (Fri, 09 May 2008 18:46:06 GMT)

Peter Scheer: Vallejo's Bankruptcy Might Have Been Prevented
Vallejo is the first California municipality to declare bankruptcy in the current economic downturn; others are likely to follow, unfortunately. (Fri, 09 May 2008 19:15:53 GMT)

Delphi first-quarter loss grows to $589M, but company says it has credit to exit bankruptcy
NEW YORK - Auto parts maker Delphi Corp. reported on Friday that it lost more money in the first quarter than it did a year ago, but that an increased credit line will still allow it to emerge from bankruptcy protection intact. (Fri, 09 May 2008 19:37:36 GMT)

US city council files for bankruptcy
The city council of Vallejo in California late on Tuesday voted unanimously to file for bankruptcy, sparking a downgrade on Wednesday in some of its municipal bonds and prompting fears that other cash-strapped local governments might emulate it. (Fri, 09 May 2008 20:53:32 GMT)

Earnings roundup: Delphi loss wider, but sees bankruptcy protection exit; Iomega profit up
May 9, 2008 - 6:31 p.m. NEW YORK (AP) — Auto parts maker Delphi Corp. reported Friday that it lost more money in the first quarter than it did a year ago, but that an expanded credit line will still allow it to emerge intact from bankruptcy protection. (Fri, 09 May 2008 23:18:29 GMT)

Collins Signs Bankruptcy Trustee Wins Lawsuit
In 2002, Collins Signs filed for bankruptcy. The bankruptcy trustee for Collins Signs filed a federal lawsuit against Nissan North America. On Thursday, they won. They were awarded $13.8 million dollars. It’s one of the largest judgments to come out of a federal case in our area. (Sat, 10 May 2008 00:33:56 GMT)

Fresno TV stations KMPH, KFRE file for bankruptcy protection
Visalia-based Pappas Telecasting Companies announced late Friday it was filing for bankruptcy protection on behalf of 13 of its television stations. (Sat, 10 May 2008 17:39:46 GMT)

2 Fresno TV stations part of bankruptcy filing
Visalia-based Pappas Telecasting Companies filed Friday for bankruptcy protection for 13 of its affiliates, including two stations in Fresno. (Sat, 10 May 2008 20:46:12 GMT)

Attorney: Bankruptcy fraud claims against Jeffrey, Dawn Prosser are false
An attorney for Jeffrey Prosser says claims by a bankruptcy trustee that Prosser fraudulently transferred millions of dollars from his former company to his family for personal items are "a fabrication." (Sat, 10 May 2008 23:11:43 GMT)

Pappas Telecasting files for bankruptcy
Pappas Telecasting Inc., owner of KDBC-Channel 4 in El Paso and the largest privately held commercial broadcast operator in the U.S., filed for Chapter 11 bankruptcy on Saturday and plans to sell its 30 television stations under bankruptcy court protection, MarketWatch reported. (Sun, 11 May 2008 06:14:36 GMT)

Lessons from bailout of New York
Felix Rohatyn, the central player in the 1975 plan that saved New York City from bankruptcy, provided some insight on how to approach the current foreclosure mess. (Sun, 11 May 2008 08:42:48 GMT)

Bankruptcy option one to consider; don't be embarrassed
Q: I lost my job, my house is going to be foreclosed and I'm having difficulties paying my charge cards. I've talked to a bankruptcy attorney who recommended that I file a Chapter 7 bankruptcy. According to the attorney, I qualify to get rid of most of my debt. On the other hand, I've talked to a credit counselor who can work out a payment plan for my charge cards. I think bankruptcy is the way ... (Sun, 11 May 2008 11:05:27 GMT)

Bankruptcy option one to consider; don't be embarrassed
Q: Dear Rick: I lost my job, my house is going to be foreclosed and I'm having difficulties paying my charge cards. I've talked to a bankruptcy attorney who recommended that I file a Chapter 7 bankruptcy. According to the attorney, I qualify to get rid of most of my debt. On the other hand, I've talked to a credit counselor who can work out a payment plan for my charge cards. I think bankruptcy ... (Sun, 11 May 2008 11:11:00 GMT)

California man losing nine homes in mortgage mess
A California man who has defaulted on nine homes and expects banks to foreclose on all of them, forcing him into bankruptcy, says he now considers it a mistake to have invested in the real estate market. (Sun, 11 May 2008 12:52:50 GMT)

Delphi Asks Court to Increase Bankruptcy Loan by $254 Million
May 11 (Bloomberg) -- Delphi Corp ., the bankrupt former parts subsidiary of General Motors Corp., asked the court to approve a $254 million increase in its loan package, after more lenders showed interest in funding the loan than the company expected. (Sun, 11 May 2008 18:13:10 GMT)

A California Couple's Descent Into Foreclosure, Bankruptcy
Tracing one Vallejo, Calif., couple's descent into foreclosure and bankruptcy. (Sun, 11 May 2008 22:54:44 GMT)

Prospects for DeWitt Clinton unclear after judge dismisses bankruptcy case
A bankruptcy court petition filed by the owner of the DeWitt Clinton in downtown Albany has been dismissed on a technicality. (Mon, 12 May 2008 05:34:30 GMT)

Child care provider files for bankruptcy - roanoke.com
Little People Learning Center has closed three of its seven locations in the Roanoke Valley. A troubled Roanoke Valley child care provider has filed bankruptcy. The company, Little People Learning Center Inc., intends to reorganize financially after closing three of seven day care centers, leaving four operating, said Mark Black, the company's lawyer. (Mon, 12 May 2008 08:54:42 GMT)

Pappas Telecasting files for bankruptcy
Pappas Telecasting Inc, a private broadcasting group, filed for bankruptcy protection, citing a range of troubles from weak advertising revenue to poor network ratings that led to its current state. (Mon, 12 May 2008 08:59:49 GMT)

WCWG files for bankruptcy protection
Pappas Telecasting Inc., a private broadcasting group, said Saturday that 13 of its stations have filed for Chapter 11 bankruptcy protection, including WCWG-TV in Greensboro. (Credit: "From Staff Reports") (Mon, 12 May 2008 14:21:58 GMT)

Two building subcontractors file for bankruptcy protection
A 20-year-old cabinet maker is reorganizing its debt under Chapter 11 bankruptcy protection, and a Rockford tile company filed for Chapter 7 liquidation a couple of years after going out of business, according to public records. (Mon, 12 May 2008 18:53:53 GMT)

Rachlin LLP, Offers Advice on Bankruptcy after Divorce
Barry Mukamal, a partner with Rachlin LLP, the accounting and advisory firm, offers the following insight regarding recent divorces and bankruptcy consideration: (Mon, 12 May 2008 19:57:11 GMT)

Fire, Police Offer Plan To Halt Vallejo Bankruptcy
Unions representing police officers and firefighters proposed a plan Monday to keep the city of Vallejo out of bankruptcy. (Tue, 13 May 2008 00:53:52 GMT)

Money in from Amcast bankruptcy
GAS CITY — Money in back taxes from a company that filed for bankruptcy was received by Grant County last month. Amcast Automotive owes Grant County hundreds of thousands of dollars in back taxes and penalties. (Tue, 13 May 2008 05:21:28 GMT)

NOC seeks Rs 2 b grant from govt to bail it out from bankruptcy
Nepal Oil Corporation (NOC) has asked the government to grant 2 billion rupees to avert its impending bankruptcy. Managing Director of NOC, Digambar Jhapa, confirmed that the Ministry of Finance has been asked for Rs 2 billion, but no official response has come regarding the request. (Tue, 13 May 2008 09:07:33 GMT)

Mall heads into bankruptcy
The ownership of Six Flags Mall in Arlington has filed for Chapter 11 protection in bankruptcy court in Dallas. (Tue, 13 May 2008 09:56:12 GMT)

Bankruptcy assets and liabilities
When determining which assets to list in Chapter 7 bankruptcy, your home gets listed even if you owe more than it is worth, says the Bankruptcy Adviser. (Tue, 13 May 2008 10:00:00 GMT)

Creditor cries foul in candy shop bankruptcy
A Mobile contracting firm that claims it was put out of business by the failure of a well-known downtown candy store to pay it for roof repairs has appealed a bankruptcy judgment that gave it 10 cents on the dollar. (Tue, 13 May 2008 13:01:30 GMT)

Union offer would avoid bankruptcy
Unionized city employees in Vallejo have given the city a new $10.6 million salary reduction proposal which representatives said Monday would avert bankruptcy and even build city reserves. "We (city officials and union representatives) had a marathon session on Friday . (Tue, 13 May 2008 13:14:01 GMT)

Dura Automotive gets approval to exit bankruptcy
NEW YORK, May 13 - Dura Automotive Systems Inc said on Tuesday it has received court approval of its reorganization plan, clearing the way for it to exit bankruptcy protection. (Tue, 13 May 2008 19:39:24 GMT)

Pappas Telecasting files for bankruptcy as advertising drops
Pappas Telecasting Companies has filed for bankruptcy protection for roughly half of its television stations, blaming poor ratings and the "extraordinary downturn" in the economy. (Tue, 13 May 2008 23:19:45 GMT)

Pappas Telecasting files for bankruptcy as advertising drops
Pappas Telecasting Companies has filed for bankruptcy protection for roughly half of its television stations, blaming poor ratings and the "extraordinary downturn" in the economy. The private broadcasting group based in Visalia owns 30 television stations... (Tue, 13 May 2008 23:38:17 GMT)

Coffee Break: Ailing Pat O'Brien's bellies up for Chapter 11 bankruptcy protection
It's tough going for the local Big Easy, as Pat O'Brien's has filed for Chapter 11 bankruptcy. The move allows the New Orleans-based restaurant and bar to reorganize while it remains open. (Wed, 14 May 2008 05:07:42 GMT)

All eyes on Calif. city's bankruptcy
SAN FRANCISCO -- A northern California city that declared bankruptcy last week has thrust itself into the national spotlight as a test case for thousands of floundering cities desperate to unload their extravagant public employee contracts. (Wed, 14 May 2008 05:10:03 GMT)

Money in from Amcast bankruptcy
GAS CITY — Money in back taxes from a company that filed for bankruptcy was received by Grant County last month. Amcast Automotive owes Grant County hundreds of thousands of dollars in back taxes and penalties. (Wed, 14 May 2008 05:21:42 GMT)

Hospital seeks bankruptcy protection, eventual sale
The trustees of the Natchez Regional Medical Center, who only a month ago got state approval to file bankruptcy to deal with dwindling finances, are considering a plan to sell the hospital. (Wed, 14 May 2008 06:08:21 GMT)

IdleAire Files for Bankruptcy
5/14/2008 IdleAire Technologies is looking for a new start. The company, which provides idle-reduction technology at truckstops, filed for Chapter 11 bankruptcy Monday after exhausting months of efforts to obtain alternative financing. (Wed, 14 May 2008 07:02:28 GMT)

IdleAire files for Chapter 11 bankruptcy
KNOXVILLE , Tenn. — IdleAire Technologies Corp., which provides services to long-haul truckers at truck stops, has filed for bankruptcy. The Knoxville-based company filed Chapter 11 documents Monday in U.S. Bankruptcy Court in Delaware, where it was incorporated. (Wed, 14 May 2008 11:10:09 GMT)

Dana swings to profit after emerging from bankruptcy
Dana Holdings swings to a first-quarter profit on the back of a big one-time gain relating to its emergence from bankruptcy as well as the adoption of “fresh start” accounting. (Wed, 14 May 2008 15:19:43 GMT)

Valley attorney guilty of bankruptcy fraud
A federal grand jury has found a Valley attorney guilty of bankruptcy fraud and money laundering. (Thu, 15 May 2008 00:24:03 GMT)

Lawyer found guilty in bankruptcy fraud case
Associated Press - May 14, 2008 8:24 PM ET PHOENIX (AP) - A Phoenix attorney has been convicted by a federal jury on 33 counts of false declarations in bankruptcy proceedings, bankruptcy fraud... (Thu, 15 May 2008 00:33:33 GMT)

Richardson & Patel Expands Its Service Offering with Bankruptcy & Reorganization Practice Group
Richardson & Patel, LLP today announced that it has reached an agreement with the partners of Weinstein, Weiss & Ordubegian, LLP to join the firm as its new Bankruptcy & Reorganization Practice Group with an effective date of July 1, 2008. David Weinstein, Sharon Weiss and Aram Ordubegian will join Richardson & Patel as partners, with certain of their associates and staff joining the firm as well. (Thu, 15 May 2008 01:11:47 GMT)

RIDER: Will N. County join Vallejo in bankruptcy?
As most people know by now, Vallejo has voted to file for bankruptcy. The city has outrageously high city employee contractual obligations that it simply cannot pay. In particular, their police and firefighters receive wonderful pay and benefits, but (Thu, 15 May 2008 02:36:39 GMT)

Richardson & Patel Expands Its Service Offering with Bankruptcy & . Reorganization Practice Group
Reorganization Practice Group 15/05/2008 00:46:00 Business Wire Richardson & Patel, LLP today announced that it has reached an agreement with the partners of Weinstein, Weiss & Ordubegian, LLP to join the firm as its new Bankruptcy & Reorganization Practice Group with an effective date of July 1, 2008. (Thu, 15 May 2008 04:27:09 GMT)

Vallejo school district feeling effects of city's bankruptcy vote
Vallejo's decision to declare bankruptcy last week has caused the Vallejo City Unified School District - a separate governmental entity - to suffer the loss of financing for portable classrooms, the delayed delivery of textbooks, the decline in value of... (Thu, 15 May 2008 04:51:31 GMT)

Credit Crunch Pushes More Consumers Into Bankruptcy
Personal debt experts, MoneySolve fear for the future as bankruptcy applications reach record numbers. Predictions of an impending crisis aim to warn consumers who think bankruptcy is an easy way out. However it can have some far reaching consequences that may make the average person think twice before applying for one. (PRWeb May 15, 2008) Read the full story at ... (Thu, 15 May 2008 07:53:11 GMT)

Sharper Image Corp to get new owners through bankruptcy auction
The Sharper Image Corp. has won court approval to sell itself in a bankruptcy auction later this month, according to court documents. (Thu, 15 May 2008 08:56:55 GMT)

Vallejo rejects union bankruptcy offer
In the countdown to Vallejo's bankruptcy, another unsuccessful mediation session was held Wednesday between Vallejo public employee union representatives and city officials, negotiators said. The all-day session was held from 10 a. (Thu, 15 May 2008 14:11:57 GMT)

PC Club shuts doors after bankruptcy
PC Club, based in California, has closed 37 stores in eight states, including New Mexico, after declaring Chapter 7 bankruptcy. But another company has stepped up to help the company's customers and its former employees. (Thu, 15 May 2008 20:58:28 GMT)

KEY Investigation: Furniture Bankruptcy
American consumers are being squeezed from every direction these days from high food and gas prices to falling home values. But, there's another threat out there bankruptcy. Think about it, when you walk into a store is there any way to know its on the brink of bankruptcy? (Fri, 16 May 2008 04:57:01 GMT)

Vallejo rejects contract unions claim would halt bankruptcy
Vallejo officials have rejected a contract proposal from police and fire unions that union leaders claim would save the city from bankruptcy. (Fri, 16 May 2008 06:06:27 GMT)

Vallejo rejects contract unions claim would halt bankruptcy
Vallejo officials have rejected a contract proposal from police and fire unions that union leaders claim would save the city from bankruptcy. The unions earlier this week announced they would take $10 million in salary cuts to help the city overcome its... (Fri, 16 May 2008 06:38:24 GMT)

Judge hears closing arguments in PALCO bankruptcy
Category: Local News Topics: (none) The Pacific Lumber Co. bankruptcy case is out of the hands of the lawyers and now rests with the Texas judge who will decide which, if any, of the two remaining reorganization plans he’ll approve. (Fri, 16 May 2008 08:20:34 GMT)

Fewer people facing bankruptcy
The number of people facing bankruptcy in England and Wales falls compared with a year ago. (Fri, 16 May 2008 10:05:33 GMT)

Bankruptcy court authorizes Sharper Image sale
Sharper Image Corp. said Friday a Delaware bankruptcy court authorized the specialty retailer to sell all its assets to an investment group for about $51.3 million at auction on May 28. (Fri, 16 May 2008 12:31:30 GMT)

Linens bankruptcy puts other businesses on hook
The Linens 'n Things bankruptcy filing on May 2 was bad news not only for the Clifton-based retailer, but for 30 home furnishings manufacturers owed more than $45 million. (Fri, 16 May 2008 12:34:11 GMT)

Rise In The Number Seeking Bankruptcy
The number of people facing bankruptcy climbed in the first quarter of this year, official figures show. (Fri, 16 May 2008 13:18:00 GMT)

Bankruptcy applications up 12%
The number of people facing bankruptcy climbed in the first quarter of this year. A total of 13,080 people applied for bankruptcy during the first quarter of this year, up 12% compared to the previous three months. (Fri, 16 May 2008 13:43:17 GMT)

Creditors File Bankruptcy Petitions vs. Harry Pappas
Pappas Telecasting chairman Harry Pappas said Thursday that three of the lenders in the Fortress loan group that financed some of the company's station purchases filed involuntary bankruptcy petitions (Chapter 7) against him and his wife, Stella. (Fri, 16 May 2008 14:17:26 GMT)

How to Keep Your Home and Avoid Bankruptcy Pitfalls
These traps can worsen your financial situation even if you clear bankruptcy. (Fri, 16 May 2008 17:40:52 GMT)

Norfolk bankruptcy figures rise
The number of people declaring themselves bankrupt in Norfolk rose by 6pc to 287 cases in the first quarter of this year. According to figures released by the Ministry for Justice, the rising number of bankruptcy cases in county courts mirrors the national trend. (Fri, 16 May 2008 20:44:57 GMT)

Bankruptcy applications rise by 12 per cent
The number of people applying for bankruptcy climbed in the first quarter of this year to 13,080, up 12 per cent on the previous three months. (Fri, 16 May 2008 23:12:46 GMT)

Steakhouse chain seeks bankruptcy, cites corn price jump
Steakhouse Partners, operator of 21 steakhouses in California and the Midwest, filed for bankruptcy, citing a rise in corn-fed beef costs stemming from grain-price increases. (Sat, 17 May 2008 09:28:00 GMT)

Is X-Rite headed into bankruptcy court?
KENTWOOD -- Is X-Rite Inc., the once fast-growing poster child for high-tech business expansion in West Michigan, headed to bankruptcy court? (Sat, 17 May 2008 11:22:33 GMT)

American LaFrance moves ahead on bankruptcy plan
Fire truck manufacturer American LaFrance's bankruptcy reorganization plan won the approval of the company's creditors, clearing the way for the firm to emerge from bankruptcy next month. (Sat, 17 May 2008 14:39:33 GMT)

Simpson's company files for bankruptcy
A local health care provider that recently satisfied a nearly $500,000 state Medicaid debt has filed for Chapter 11 bankruptcy reorganization, court records show. (Sun, 18 May 2008 03:11:32 GMT)

Vallejo's bankruptcy offers a lesson in the value of openness
The city of Vallejo has taken the extraordinary step of filing for federal bankruptcy protection. While the financial distress of this Solano County city population 117,000 is especially acute, its fiscal problems are fundamentally the same as those facing many California cities and counties and, indeed, the state itself. (Sun, 18 May 2008 14:25:24 GMT)

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