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Home > Bankruptcy News

Bankruptcy News May 2008

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Linens ’n Things seeks bankruptcy protection
Linens ’n Things , a US home goods chain, filed for bankruptcy protection on Friday after failing to renegotiate terms with leading creditors. (Sun, 18 May 2008 21:44:59 GMT)

Bankruptcy requests rising in Britain
LONDON, May 17 (UPI) -- Bankruptcy applications were up 12 percent in the first quarter of the year in Britain compared to the previous quarter, figures show. (Sun, 18 May 2008 22:24:14 GMT)

Developer avoids foreclosure with bankruptcy
After failing to reach an agreement with Umpqua Bank on a delinquent $26.9 million loan, Stephen Des Jardins' Diamond Creek Partners Ltd. has filed for bankruptcy reorganization to avoid foreclosure, becoming the third large developer in the region to take that step. (Mon, 19 May 2008 05:08:53 GMT)

Fig. converts to Chapter 7 bankruptcy to dissolve firm
U.S. Bankruptcy Judge Charles Rendlen III converted the bankruptcy case of Go Fig. Inc. and its subsidiaries from Chapter 11 to Chapter 7 following a hearing May 13 in St. Louis. (Mon, 19 May 2008 05:09:34 GMT)

Triad trucking firm files for Chapter 11 bankruptcy
A local trucking company has filed for bankruptcy protection, but is aiming to reorganize. (Mon, 19 May 2008 05:09:43 GMT)

Bankruptcy
This bankruptcy was filed May 7 in U.S. District Court, Indianapolis, for the Southern District of Indiana. D-debt; A-assets. Chapter 7 (liquidation) (Mon, 19 May 2008 07:02:23 GMT)

Fewer people opt for bankruptcy
According to its figures, 17,931 petitions for bankruptcy were issued from January to the end of March. This is 15% fewer than those from the same period of 2007. (Mon, 19 May 2008 07:10:48 GMT)

Bidz.com, Inc. Acquires $23.9 Million Lot of Finished Jewelry from Bankruptcy Auction
CULVER CITY, Calif.----Bidz.com , a leading online auctioneer of jewelry, announced today that it was the winning bidder of a large lot of finished jewelry in the bankruptcy auction of LID Ltd., one of the world's largest manufacturers of diamond jewelry. (Mon, 19 May 2008 12:00:00 GMT)

Fuel costs may thrust airlines into bankruptcy
Cash shrinking fast as 10 largest carriers struggle to boost revenue Just months after reporting their highest annual profit in eight years, U.S. airlines are in a nose dive that could leave some major carriers in bankruptcy. (Mon, 19 May 2008 13:01:13 GMT)

Bankruptcy court's Pacific Lumber ruling expected soon
The fate of Pacific Lumber Co., the 145 year old aristocrat of West Coast timber companies, is expected to be decided within days by a federal bankruptcy court in Texas. (Mon, 19 May 2008 13:25:23 GMT)

Fuel Costs May Thrust Airlines into Bankruptcy
It is a thrill ride nobody wanted. Just months after reporting their highest annual profits in eight years, U.S. airlines are in a nose dive that could leave some major carriers in bankruptcy. (Mon, 19 May 2008 16:58:24 GMT)

Steakhouse Partners files for bankruptcy
The Carver's Creek steakhouse in Raleigh is open despite its parent company's recent bankruptcy filing, though the restaurant has been put up for sale. (Mon, 19 May 2008 17:57:16 GMT)

Roadhouse Grill Bankruptcy Forces Total Shutdown, Including Florida Locations
The bankruptcy of casual-dining restaurant operator Roadhouse Grill means the closure of all 21 of its locations, including a slate of Florida outlets. (Mon, 19 May 2008 18:16:12 GMT)

Bankruptcy not ahead for X-Rite, CFO says
KENTWOOD -- Color matching company X-Rite Inc. "is not headed for bankruptcy," its interim chief financial officer said today. The comments come less than a week since CFO Dave Rawden, a turnaround expert, joined the company, replacing former Alticor Inc. CFO Lynn Lyall. (Mon, 19 May 2008 20:37:39 GMT)

High cost of oil has airlines stressing over bankruptcy
Analyst calls carriers, as a group, 'at risk of bankruptcy' It is a thrill ride nobody wanted. (Tue, 20 May 2008 07:44:44 GMT)

What Do Bankruptcy Trustees Need to Know About the Evolving Secondary Market for Sales of Life Insurance Policies?
Because it has been traditionally considered an illiquid financial asset, a debtor's life insurance policy typically receives little attention from many bankruptcy trustees. Due to an evolving secondary market for life insurance over the past several years, however, bankruptcy trustees may now be able to unlock the value of a life insurance policy for the benefit of creditors through a life ... (Tue, 20 May 2008 14:13:00 GMT)

Motorola settles Iridium bankruptcy cases
Motorola Inc said on Tuesday that a U.S. judge had approved a settlement, at no cost to the cell phone maker, related to disputes stemming from the 1999 bankruptcy of satellite service Iridium. (Tue, 20 May 2008 21:09:49 GMT)

Motorola Settles Iridium Bankruptcy Cases
SCHAUMBURG, Ill. , May 20 /PRNewswire-FirstCall/ -- Motorola, Inc. (NYSE: MOT) today announced that on May 20, 2008 , Judge James M. Peck approved a global settlement of disputes in the Iridium bankruptcy cases pending in the United States Bankruptcy Court for the Southern District of New York . Approval of this settlement resolves in Motorola's favor, at no out of pocket cost to the Company, ... (Tue, 20 May 2008 22:31:08 GMT)

Movie Gallery emerges from bankruptcy protection
Movie Gallery Inc said on Tuesday it had concluded its Chapter 11 restructuring and had successfully emerged from bankruptcy protection. (Tue, 20 May 2008 23:14:29 GMT)

Charges filed in bankruptcy claim
A federal grand jury returned a four-count indictment today charging a Rockford man with concealing assets in a bankruptcy and obstructing justice. (Wed, 21 May 2008 02:38:53 GMT)

Movie Gallery exits bankruptcy
Movie Gallery announced it has emerged from Chapter 11 bankruptcy protection, but previous stockholders will receive nothing for their investment. The Dothan-based movie rental chain also closed a $100 million exit financing agreement and named a new board of directors. (Wed, 21 May 2008 04:44:22 GMT)

Motorola ends 9-year bankruptcy saga for Iridium
Motorola said Tuesday it has won a judge's approval of a settlement with its bankrupt satellite phone unit, Iridium, that ends a nine-year bankruptcy saga for Iridium. (Wed, 21 May 2008 04:44:29 GMT)

Jevic Transportation files for bankruptcy
Jevic Transportation Inc. sought bankruptcy protection, a day after the closely held trucking company said it would halt operations because of rising fuel costs and tightening credit. (Wed, 21 May 2008 05:40:47 GMT)

Bankruptcy deal OK'd
Schaumburg-based Motorola Inc., the world's third-biggest mobile-phone maker, won approval of a settlement with Iridium LLC that eliminates the last obstacle to winding up Iridium's nine- year bankruptcy. (Wed, 21 May 2008 05:59:09 GMT)

Movie Gallery exits Ch. 11 bankruptcy protection
Movie rental company Movie Gallery Inc. said it has exited Ch. 11 bankruptcy protection after completing its restructuring requirements. (Wed, 21 May 2008 11:37:28 GMT)

Jevic Transportation files Chapter 11 bankruptcy papers
DELANCO, N.J. — Jevic Transportation late Tuesday filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court in Delaware. The action came one day after the company, headquartered in Delanco, N.J., announced it was going out of business. (Wed, 21 May 2008 14:55:08 GMT)

Frontier Airlines files for bankruptcy
Frontier Airlines , a US low fare carrier headquartered in Denver, collapsed into Chapter 11 bankruptcy on Friday as the latest casualty of the growing shake-up of global aviation, as carriers struggle to cope with record oil prices and weakening economic growth. (Wed, 21 May 2008 20:33:18 GMT)

TrimSpa distributor files for bankruptcy protection
The maker of diet supplement TrimSpa, promoted by Anna Nicole Smith before her death last year, filed for bankruptcy protection today. Goen Technologies, which had been based in Whippany but listed an East Hanover address in court filings, said it had $1.4 million in assets but $30 million in debts. (Wed, 21 May 2008 21:22:58 GMT)

Feds: W. Pa doctor sent assets to Lebanon during bankruptcy
GREENSBURG, (AP) - Federal prosecutors say a Westmoreland County doctor charged with illegally selling painkiller prescriptions for cash hid $275,000 in a Lebanese bank while under bankruptcy protection. (Thu, 22 May 2008 00:09:59 GMT)

TrimSpa distributor files for bankruptcy protection
The distributor of diet supplement TrimSpa, promoted by Anna Nicole Smith before her death last year, filed for bankruptcy protection yesterday. Goen Technologies, based in East Hanover, said it had $1.4 million in assets and $30 million in debts. (Thu, 22 May 2008 04:54:17 GMT)

Calpine files for bankruptcy protection
Calpine , the debt-laden US power generator, has filed for bankruptcy in order to restructure its debt, setting up potential conflicts between different classes of creditors in its complex capital structure. (Thu, 22 May 2008 09:15:22 GMT)

Mesa Air says may seek bankruptcy protection
NEW YORK, May 22 - Mesa Air Group Inc , which provides regional flights for major airlines, said on Thursday it might be forced to file for bankruptcy protection if it loses a legal fight with Delta Air Lines Inc . (Thu, 22 May 2008 13:52:34 GMT)

UPDATE: Mesa May Seek Bankruptcy If Delta Cancels Contract
NEW YORK (Dow Jones) -- Mesa Air Lines said Thursday it may seek bankruptcy protection if Delta Air Lines succeeds in its effort to cancel a connection contract with the regional flight provider, making it another victim of today's sky-high oil prices. (Thu, 22 May 2008 17:27:18 GMT)

Mesa may seek bankruptcy protection
Mesa Air Group warned Thursday that it might have to file for bankruptcy protection if its contract with Delta Air Lines is canceled. (Thu, 22 May 2008 20:05:50 GMT)

Fuel costs may thrust airlines into bankruptcy
It is a thrill ride nobody wanted. Just months after reporting their highest annual profits in eight years, U.S. airlines are in a nose dive that could leave some major carriers in bankruptcy. (Fri, 23 May 2008 03:24:44 GMT)

Faiella seeks to settle his bankruptcy debt
Former Newark Deputy Mayor Alfred Faiella has offered to settle his pending bankruptcy case by paying $650,000 to his last remaining creditor, whose case was scheduled to go to trial next week. (Fri, 23 May 2008 04:50:35 GMT)

Bankruptcy court may release Elk Grove trustee from $140,000 in debts
Veteran Elk Grove school trustee Jeanette Amavisca may no longer be accountable for $140,000 of personal debt after changing her bankruptcy status, The Bee learned Wednesday. JEANETTE AMAVISCA The trustee, seeks a new bankruptcy status for $140,000 in personal debt. (Fri, 23 May 2008 07:11:21 GMT)

Another Airline Near Brink of Bankruptcy
Another interisland carrier is threatening to file for bankruptcy protection. It's the latest in a string of bad news for the airline industry, and could add to the travel concerns in Hawaii. (Fri, 23 May 2008 08:42:46 GMT)

Eos Airlines collapses into bankruptcy
Eos Airlines, the loss-making US all-business class carrier flying between London and New York, collapsed into bankruptcy and ceased operations on Sunday. (Fri, 23 May 2008 08:50:01 GMT)

Delta dispute may lead to Mesa Air bankruptcy
PHOENIX » Mesa Air Group Inc. warned yesterday that it faces a cash crunch and could be forced into bankruptcy if it can't stop Delta Air Lines Inc. from going through with a plan to cancel a service contract. (Fri, 23 May 2008 11:21:39 GMT)

AMH strikes deal with bankruptcy creditors
Auburn Memorial Hospital said it has cleared another major hurdle in its Chapter 11 bankruptcy turnaround, after it reached an agreement this week with unsecured creditors on how much money AMH would pay to them. (Fri, 23 May 2008 13:53:57 GMT)

Financially ailing Vallejo files bankruptcy
Vallejo officially declared bankruptcy on Friday, when the city's attorneys filed for Chapter 9 bankruptcy protection for the financially troubled North Bay city. The petition, filed in U.S. Bankruptcy Court in Sacramento, comes two weeks after the City... (Fri, 23 May 2008 19:36:47 GMT)

Tousa gets extension to file bankruptcy-exit plan
A federal court has granted homebuilder Tousa Inc. a five-month extension to file its plan to exit Chapter 11 bankruptcy protection. (Fri, 23 May 2008 21:26:13 GMT)

Bankruptcy for City of Vallejo
The city of Vallejo filed for bankruptcy protection Friday to deal with a ballooning budget deficit (Fri, 23 May 2008 23:17:54 GMT)

San Francisco suburb Vallejo files for bankruptcy
The city of Vallejo, California, filed for bankruptcy on Friday, a move signaled by its city council earlier this month as it struggles to avoid running out of money amid steep city personnel costs and sliding revenues from a housing slump. (Fri, 23 May 2008 23:54:03 GMT)

Calif. suburb files for bankruptcy protection
SAN FRANCISCO -- The city of Vallejo filed for bankruptcy protection today to deal with a ballooning budget deficit caused by soaring employee costs and declining tax revenue. (Sat, 24 May 2008 00:18:32 GMT)

Calif. city seeks bankruptcy protection
VALLEJO, Calif., May 24 (UPI) -- Vallejo, Calif. -- squeezed by falling tax revenues and high labor costs -- filed Friday for bankruptcy protection. (Sat, 24 May 2008 06:08:54 GMT)

California city files bankruptcy
SAN FRANCISCO — The city of Vallejo filed for bankruptcy protection yesterday to deal with a ballooning budget deficit caused by soaring employee costs and declining tax revenue. (Sat, 24 May 2008 11:07:27 GMT)

Vallejo, Calif. files for bankruptcy protection
The city of Vallejo filed for bankruptcy protection Friday to deal with a ballooning budget deficit caused by soaring employee costs and declining tax revenue. (Sat, 24 May 2008 12:02:10 GMT)

Vallejo, Calif. files for bankruptcy protection
SAN FRANCISCO -- The city of Vallejo filed for bankruptcy protection Friday to deal with a ballooning budget deficit caused by soaring employee costs and declining tax revenue. (Sat, 24 May 2008 12:38:47 GMT)

Vallejo files bankruptcy papers
SAN FRANCISCO - The city of Vallejo filed for bankruptcy protection Friday to deal with a ballooning budget deficit caused by soaring employee costs and declining tax revenue. The San Francisco Bay Area suburb of about 120,000 residents became the largest California city to seek bankruptcy protection. (Sat, 24 May 2008 14:27:51 GMT)

Vallejo files for Chapter 9 bankruptcy
In what may be viewed by many as an anticlimactic move, Vallejo formally filed for bankruptcy Friday morning, setting into motion likely court battles over city employee union contracts. City bankruptcy attorney Marc Levinson confirmed the initial petition paperwork was (Sat, 24 May 2008 14:56:37 GMT)

Financially ailing Vallejo files bankruptcy
Vallejo officially declared bankruptcy on Friday, when the city's attorneys filed for Chapter 9 bankruptcy protection for the financially troubled North Bay city. The petition, filed in U.S. Bankruptcy Court in Sacramento, comes two weeks after the City... (Sat, 24 May 2008 16:34:58 GMT)

How Penguins went from bankruptcy to powerhouse
From bankruptcy to powerhouse: The Penguins (Sat, 24 May 2008 17:04:47 GMT)

San Francisco suburb files for bankruptcy
The city of Vallejo, Calif., filed for bankruptcy protection Friday to deal with a ballooning budget deficit caused by soaring employee costs and declining tax revenue. ''We've exhausted all avenues at this point, and this is all we had left ... (Sun, 25 May 2008 09:07:58 GMT)

Cal. City Files for Bankruptcy
The city of Vallejo has filed for bankruptcy protection to deal with a ballooning budget deficit caused by soaring employee costs and declining tax revenue. (Sun, 25 May 2008 10:40:48 GMT)

Harwood Products declares bankruptcy
The Daily Journal On Friday, Harwood Products announced that it had filed for protection under Chapter 11 bankruptcy. (Sun, 25 May 2008 20:09:07 GMT)

Anti-desal group facing bankruptcy
An anti-desalination protest group is facing bankruptcy after losing a Federal Court case. (Sun, 25 May 2008 22:12:00 GMT)

Vallejo Facing Uncertain Road After Bankruptcy
For years, this cash-strapped city on the edge of San Francisco Bay shrugged off warnings that it was paying and promising its employees more than it could afford. But the day of financial reckoning arrived last week when Vallejo became California's largest city to declare bankruptcy. (Sun, 25 May 2008 22:31:08 GMT)

Frontier Airlines expects to stay on course here during bankruptcy
Frontier Airlines officials say San Antonio customers should not experience any turbulence as the airline goes through its Chapter 11 bankruptcy reorganization. But this prediction isn't set in stone. (Mon, 26 May 2008 04:39:42 GMT)

First comes love, then the Chapter 11 bankruptcy filing
Two days after planning a wedding bash at Donald Trump's Mar-a-Lago Club, businessman Michael Meisner filed a personal Chapter 11 bankruptcy. (Mon, 26 May 2008 05:02:07 GMT)

Greendale coffee firm files for Chapter 7 bankruptcy
Eviva Coffee & Tea Co. Inc., of Greendale, has filed Chapter 7 bankruptcy, listing debts of more than $2.5 million. (Mon, 26 May 2008 05:02:17 GMT)

Bankruptcy Filings
Each week, the Daily Breeze Business section publishes a list of local companies that have filed for liquidation or reorganization in U.S. Bankruptcy Court. (Mon, 26 May 2008 05:45:42 GMT)

Bankruptcy issue splits Vallejo’s Fil-Ams
VALLEJO, Ca - The unanimous vote by the Vallejo City Council in favor of filing for Chapter 9 federal bankruptcy protection has driven a wedge among Filipino-Americans, dividing the third largest Filipino population center in the United States. (Mon, 26 May 2008 10:07:15 GMT)

Retailers in bankruptcy raise requirements on gift card use
The growing number of retailers filing for bankruptcy as the U.S. economy teeters on the brink of a recession means consumers can't redeem gift cards as easily as they once could. (Mon, 26 May 2008 23:28:36 GMT)

Taiwan Carrier's Petition For Bankruptcy Protection Turned Down
The Taipei District Court on Monday turned down a petition by debt-ridden Far Eastern Air Transport Corp. (FAT) for bankruptcy protection, leaving its assets vulnerable to creditors and making it even less likely that the carrier will ever fly again. (Tue, 27 May 2008 01:11:41 GMT)

TAIWAN CARRIER'S PETITION FOR BANKRUPTCY PROTECTION TURNED DOWN
Regulations / Law   The Taipei District Court on Monday turned down a petition by debt-ridden Far Eastern Air Transport Corp. (FAT) for bankruptcy protection, leaving its assets vulnerable to creditors and making it even less likely that the carrier will ever fly again. (Tue, 27 May 2008 01:11:41 GMT)

Creditor rebuffs ex-Newark official's offer in bankruptcy bid
Settlement negotiations have broken down between former Newark Deputy Mayor Alfred Faiella and the last opposing creditor in his application for personal bankruptcy. (Tue, 27 May 2008 04:45:38 GMT)

On the brink of bankruptcy
Credit card debt and a co-signed loan gone bad can be the bankruptcy tipping point, says the Bankruptcy Adviser. (Tue, 27 May 2008 10:00:00 GMT)

(AFX UK Focus) 2008-05-27 12:48 French overindebtedness applications stable, but personal bankruptcy up - Fitch
MUMBAI (Thomson Financial) - Fitch Ratings said French consumer, residential mortgage debt being rescheduled or cancelled has not fallen in the past four years and added the number of borrowers applying to the French over indebtedness commission (OIC) has remained stable, while those applying for personal bankruptcy have increased. (Tue, 27 May 2008 11:55:06 GMT)

Vallejo businesses aren't singing bankruptcy blues
Bankruptcy may be in Vallejo's future, but life and business still go on: Several new businesses have opened in recent weeks and others are expanding. (Tue, 27 May 2008 14:14:05 GMT)

Bankruptcy Listing for Credit Union Wrong
In its weekly listing of bankruptcy filings in Arkansas in the issue of Monday, May 26, the Arkansas Democrat-Gazette incorrectly listed the Crossett Paper Mills Employees Federal Credit Union. (Tue, 27 May 2008 14:14:55 GMT)

Mesa Air warns of bankruptcy if Delta ends contract
Mesa will file for bankruptcy protection by July 20 and cut 700 jobs — 14 percent of its work force — if Delta's termination of a regional flying contract sticks and Mesa can't redeploy unused aircraft, a senior executive for the Phoenix-based carrier said Tuesday. (Tue, 27 May 2008 17:42:36 GMT)

Bankruptcy judge OKs Ceres Capital Ch 11 plan
A bankruptcy judge has allowed Ceres Capital Partners to sell its remaining assets and use the proceeds to repay creditors, part of the financial manager's plan to emerge from Chapter 11 protection. (Tue, 27 May 2008 20:31:13 GMT)

Former Duke Players Can Sue Nifong Outside Bankruptcy (Update2)
May 27 (Bloomberg) -- Three former Duke University lacrosse players cleared of rape charges brought by former prosecutor Michael Nifong can proceed with their lawsuit against him outside bankruptcy court, a judge ruled. (Tue, 27 May 2008 23:13:20 GMT)

Mesa Air sees bankruptcy if Delta wins case
Mesa Air will file for bankruptcy protection by July 20 and cut 700 jobs — 14 percent of its work- force — if Delta's termination of a regional flying contract sticks and Mesa can't redeploy unused aircraft, a senior executive for the Phoenix-based carrier said Tuesday. (Wed, 28 May 2008 07:01:43 GMT)

Investors help force Forex president, CEO into bankruptcy
Three area investors who poured nearly $1 million into The Forex Project expecting massive returns are among a group of creditors that has pushed the company's president and CEO into bankruptcy. (Wed, 28 May 2008 07:24:17 GMT)

Cedar files bankruptcy protection
The fate of Monterey mortgage lender Cedar Funding and millions of dollars invested by scores of Central Coast residents may be decided by a federal bankruptcy court. (Wed, 28 May 2008 08:52:59 GMT)

Mirabilis seeks bankruptcy protection
Documents show between 100 and 199 creditors and $50 million to $100 million in assets and liabilities. Mirabilis Ventures Inc., an obscure Orlando-based equity firm that burst on the Orlando scene in 2005 and bought up dozens of assorted businesses before shuttering most operations in the wake of an IRS criminal investigation, filed for bankruptcy protection Tuesday. ... (Wed, 28 May 2008 09:49:01 GMT)

Key steps boost post-bankruptcy credit
Making the right moves can gradually rebuild credit following bankruptcy, says Dr. Don Taylor. (Wed, 28 May 2008 10:00:00 GMT)

Ceres Capital bankruptcy plan approved by judge
(Reuters) - A U.S. judge has approved a bankruptcy plan for Ceres Capital Partners LLC, allowing the former specialist in structured investment vehicles to sell assets after being squeezed by tight credit markets. (Wed, 28 May 2008 11:23:00 GMT)

Mesa: Bankruptcy wouldn't affect Hawaii
A Mesa Air Group Inc. executive said yesterday that a possible bankruptcy filing by the company would not affect go!'s operations in Hawaii. (Wed, 28 May 2008 12:21:59 GMT)

Aviation company files bankruptcy
Aviation Technology Group has filed for Chapter 7 bankruptcy after unsuccessfully trying to find a buyer for the very light jet company based at Front Range Airport in Jefferson County, according to court records. (Thu, 29 May 2008 00:45:00 GMT)

ATG files bankruptcy after options run out
Aviation Technology Group, the once-promising aircraft developer that closed its doors late last year, has filed for Chapter 7 bankruptcy after failing to sell the business or secure more funding. (Thu, 29 May 2008 03:26:38 GMT)

Casino official: Bankruptcy hurts tax negotiations
A Belle of Baton Rouge executive said Wednesday that the riverboat casino property’s bankruptcy status is impeding tax negotiations with the city-parish. (Thu, 29 May 2008 05:15:40 GMT)

Bankruptcy may delay Aztar deal
ANDERSON, Ind. — The bankruptcy filing of Casino Aztar's divesting owner could delay the sale of the Evansville riverboat to its prospective new owner by a few months, but state gaming regulators said the 900 current employees should not be adversely affected in the meantime. (Thu, 29 May 2008 05:15:52 GMT)

Bankruptcy trustee objects to Frontier severance plan.
A U.S. Bankruptcy Court Trustee has filed an objection to Frontier Airlines' proposal to offer a severance package to senior management employees. (Thu, 29 May 2008 07:03:36 GMT)

Aviation Technology files for Chapter 7 bankruptcy.
Arapahoe County-based Aviation Technology Group has filed Chapter 7 bankruptcy, claiming $10 to $50 million in assets and $50 to $100 million in debts. (Thu, 29 May 2008 07:04:37 GMT)

Bankruptcy and Small Business Loans
My son was in an accident and I borrowed money to pay his medical bills. Before the accident, I hoped to get an SBA loan to expand a construction business I operate part-time (I also have a full-time job). Now, I'm contemplating bankruptcy due to my debt. Will a bankruptcy filing ruin my chances for getting a small business loan in the future? (Thu, 29 May 2008 12:08:42 GMT)

Genitope landlord cancels option, company may seek bankruptcy protection
Troubled Genitope Corp., on the hook for more than 12 years remaining on 220,000 square feet in Fremont, is in negotiations with its landlord and could file for bankruptcy protection, the company said in a Securities and Exchange Commission filing today. (GTOP) (Thu, 29 May 2008 13:37:50 GMT)

Group claims number of schools closing down due to bankruptcy increasing
MANILA, Philippines - More and more private schools are closing down every year due to bankruptcy, the Federation of Private Schools and Administrators (FAPSA) claimed Thursday. (Thu, 29 May 2008 13:41:53 GMT)

City seeks to hurry bankruptcy
Anyone wanting to file an objection to Vallejo filing for Chapter 9 bankruptcy would have only two weeks, if city attorneys succeed in a federal court request today. In the first hearing of the bankruptcy case since it was filed Friday, U. (Thu, 29 May 2008 13:55:36 GMT)

Delphi attracts new bankruptcy funding
The Troy-based auto supplier got approval by U.S. Bankruptcy Judge Robert Drain Thursday at a New York court hearing to boost its debtor-in-possession financing by $254 million. (Fri, 30 May 2008 05:01:32 GMT)

Things to Consider Before You File for Bankruptcy
The current economy in the U.S. has put tremendous strain on many companies, particularly startups. Usually, our firm gets very few inquiries from companies that are facing bankruptcy and are looking for strategies, options and alternatives to bankruptcy. Lately, however, that seems to have changed. (Fri, 30 May 2008 12:18:02 GMT)

Greektown Casino files for Chapter 11 bankruptcy
DETROIT -- Greektown Casino has filed for Chapter 11 bankruptcy protections as it seeks to reorganize about $650 million in debt used to finance a massive expansion project that's expanding the gambling facility to include more gaming space and a full-service 400-room hotel. (Fri, 30 May 2008 13:18:03 GMT)

Greektown Casino falls into Chapter 11 bankruptcy
UPDATED AT 9:58 A.M. -- Greektown Casino has asked a federal court for approval to reorganize its finances and continue business operations under the protection of Chapter 11 of the U.S. Bankruptcy Code, the Sault Ste. Marie Tribe of Chippewa Indians announced today. (Fri, 30 May 2008 13:18:42 GMT)

Greektown Casino files for bankruptcy
Greektown Casino L.L.C. filed for Chapter 11 bankruptcy protection late Thursday in U.S. Bankruptcy Court in Detroit and will continue normal business operations during the restructuring process, the Sault Ste. (Fri, 30 May 2008 14:01:45 GMT)

Greektown Casino files for Chapter 11 bankruptcy protection
DETROIT -- Greektown Casino has filed for bankruptcy protection, but says its gambling operations in Detroit and ongoing expansion project that includes a permanent hotel won't be... (Fri, 30 May 2008 14:08:12 GMT)

Bankruptcy reorganization worries Detroit councilwoman
A Detroit City councilwoman Friday said she was stunned by Greektown Casino's bankruptcy reorganization filing. (Fri, 30 May 2008 14:18:04 GMT)

Greektown Casino falls into Chapter 11 bankruptcy
Greektown Casino has filed for Chapter 11 of the U.S. Bankruptcy Code, the Sault Ste. Marie Tribe of Chippewa Indians announced today. (Fri, 30 May 2008 14:31:29 GMT)

Detroit's Greektown Casino files for Chapter 11 bankruptcy protection
DETROIT - Greektown Casino has filed for bankruptcy protection, but says its gambling operations in Detroit and ongoing expansion project that includes a permanent hotel won't be disrupted. (Fri, 30 May 2008 14:32:12 GMT)

Greektown Casino: Bankruptcy won't stop project
Greektown Casino has filed for bankruptcy protection, but said Friday its gambling operations and ongoing expansion project that includes a permanent hotel won't be disrupted. (Fri, 30 May 2008 16:18:03 GMT)

Return flight to bankruptcy possible for airlines
Airlines are cutting U.S. flights, shedding employees, putting off plane orders and even talking about combinations. But with cash bleeding fast, fuel prices high and credit tight, nothing they do may be able to stop several major airlines' return flight toward bankruptcy, and possibly liquidation. (Fri, 30 May 2008 19:03:09 GMT)

Bankruptcy court allows Linens 'n Things chain to close stores
LOS ANGELES -- Home goods chain Linens 'n Things today won a bankruptcy court judge's approval to close 150 of its 500 stores, including four in the San Fernando Valley, officials announced. (Fri, 30 May 2008 23:55:20 GMT)

Return flight to bankruptcy possible for airlines
Airlines are cutting U.S. flights, shedding employees, putting off plane orders and even talking about combinations. But with cash bleeding fast, fuel prices high and credit tight, nothing they do may be able to stop several major airlines' return flight toward bankruptcy. (Sat, 31 May 2008 04:53:12 GMT)

Greektown Casino files for bankruptcy
Greektown Casino has filed for bankruptcy reorganization, a move that effectively blocks the Michigan Gaming Control Board from forcing a sale of the gambling hall. It also allows the casino to continue operations while it refinances millions of dollars of loans needed to finish the casino expansion and construction of a full-service 400-room hotel. (Sat, 31 May 2008 05:19:28 GMT)

Airlines returning to bankruptcy?
ATLANTA -- Airlines are cutting U.S. flights, shedding employees, putting off plane orders and talking about combinations. But with cash bleeding fast, fuel prices high and credit tight, nothing they do may be able to stop several major airlines' return flight toward bankruptcy, and possibly liquidation. Unlike when four of the six legacy carriers filed for bankruptcy protection between 2002 and ... (Sat, 31 May 2008 06:18:35 GMT)

Return flight to bankruptcy possible for airlines
ATLANTA - Airlines are cutting U.S. flights, shedding employees, putting off plane orders and talking about combinations. But with cash bleeding fast, fuel prices rising and credit tight, nothing may be able to stop several major airlines' return to bankruptcy, and possibly liquidation. (Sat, 31 May 2008 06:42:12 GMT)

Dawahares files bankruptcy
The Lexington-based Dawahare's chain of clothing stores filed for bankruptcy reorganization Friday, citing the national economic downturn and competition from other retailers. The 101-year-old family-owned business that was started by a peddler in the Eastern Kentucky coalfields and grew into the largest Kentucky-based retailer said it will close nine of its 31 stores over a two-month period ... (Sat, 31 May 2008 07:09:13 GMT)

Uni-Mart files for bankruptcy
At least two of 40 Uni-Mart convenience stores in Luzerne and Lackawanna counties are expected to close following an announcement that Uni-Mart LLC has filed for Chapter 11 bankruptcy protection as part of their overall plan to sell the company. (Sat, 31 May 2008 07:10:50 GMT)

Dawahare's files for bankruptcy
Kentucky clothing retailer Dawahare's filed for bankruptcy court protection yesterday and announced plans to close nine of its 31 stores. Company officials blame the move on a sagging economy and stiff competition from national chains. (Sat, 31 May 2008 08:51:46 GMT)

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