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Home > Bankruptcy News

Bankruptcy News Aug 2009

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GM Said to Back RHJ Offer or Bankruptcy for Opel Over Magna Bid
Aug. 1 (Bloomberg) -- General Motors Co. ’s Opel unit may be forced into bankruptcy should the U.S. automaker and the German government fail to agree on a buyer, according to three people close to the trust that controls the division. (Sat, 01 Aug 2009 06:55:57 GMT)

Former West Ham owner files for bankruptcy
The second richest man in Icelandic history has filed for bankruptcy, his spokesman said today. Related Stories Restart of Large Hadron Collider delayed yet again Teen reveals rape live on radio after fake lie detector segment goes wrong Riot police clash with demonstrators in Malaysia Britain tests new ways to track soldiers Student to pay £400,000 for downloading 30 songs (Sat, 01 Aug 2009 09:58:36 GMT)

Default Increase Curbs Bankruptcy Lending as Recoveries Dwindle
July 31 (Bloomberg) -- Companies on the verge of bankruptcy are finding it harder and more expensive than ever to get loans to help nurse them back to health. (Sat, 01 Aug 2009 11:12:38 GMT)

Washington Park forced into seeking bankruptcy; treasurer faced possible arrest
Washington Park officials didn’t have much choice when they filed bankruptcy this month for the second time in less than five years. If the village didn’t file for bankruptcy, village Treasurer Loretta Brock Longstreet would be arrested. (Sat, 01 Aug 2009 12:03:27 GMT)

Delphi on edge of exiting bankruptcy
On July 30, global tier one auto supplier Delphi Corp. (Troy, MI) received approval from the New York court handling it’s bankruptcy process on its plan to sell its assets to a combination of lenders and the company that originally spun it off, General Motors Co. The judge’s ruling opens the way for Delphi to end its nearly four years of bankruptcy protection. read more (Sat, 01 Aug 2009 17:20:53 GMT)

Bashasâ files for Chapter 11 bankruptcy
The Bashas’ grocery stores in Morenci and Thatcher are not on the list of 10 stores the company has announced it is closing. Bashas’ Supermarkets Inc. also filed for Chapter 11 bankruptcy protection July 12, in an attempt to buy time and ride out the recession. (Sat, 01 Aug 2009 19:10:31 GMT)

Labor talks at South Korea carmaker Ssangyong Motor break off; management threatens bankruptcy
SEOUL, South Korea - Talks to end a months-long strike at ailing South Korean automaker Ssangyong Motor Co. broke off Sunday, with management threatening to take steps toward bankruptcy unless the union accepts a compromise offer on layoffs. (Sun, 02 Aug 2009 08:00:39 GMT)

Bankruptcy – a way out for broke Americans
Americans have been adding to bankruptcy filings with a million petitions being lodged in the past year. (Sun, 02 Aug 2009 10:35:55 GMT)

Washington Park officials defend bankruptcy decision
Village leaders say they had no other alternative but to file bankruptcy last month to get the village's finances reorganized and back on track. (Sun, 02 Aug 2009 11:58:28 GMT)

Bankruptcy Act may be amended (Business Times
THE Bankruptcy Act 1967 might be amended to keep up with the changing times, said Minister in the Prime Minister's Department Datuk Seri Mohamed Nazri Abdul Aziz. He said the Insolvency Department had been entrusted with the responsibility of reviewing the act and if necessary propose relevant amendments. "The department will have to look into ways to make it more client-friendly and correct the ... (Mon, 03 Aug 2009 10:06:13 GMT)

Bankruptcy law to be amended to protect creditors
MALACCA: The Government is planning to amend bankruptcy laws to improve the management of bankrupts while affording better protection to creditors of companies that have gone bust. (Mon, 03 Aug 2009 11:10:14 GMT)

Cooper-Standard Auto Files For Chapt 11 Bankruptcy Protection
Cooper-Standard Automotive Inc. joined the roster of parts makers under Chapter 11 bankruptcy protection Monday, listing debts of nearly $1.8 billion. (Mon, 03 Aug 2009 12:39:33 GMT)

Washington Park seeks bankruptcy protection
Washington Park seeks bankruptcy protection (Mon, 03 Aug 2009 13:20:19 GMT)

Cooper-Standard Files for Bankruptcy
Cooper-Standard Automotive, a troubled auto parts supplier co-owned by Goldman Sachs and the Cypress Group, filed for bankruptcy in Delaware on Monday after reaching a prearranged deal with its creditors over a reorganization plan. (Mon, 03 Aug 2009 13:22:18 GMT)

Illinois town seeks bankruptcy protection... again
WASHINGTON PARK, Ill. (AP) -- The southwestern Illinois village of Washington Park is seeking bankruptcy protection for the second time this decade. (Mon, 03 Aug 2009 13:32:28 GMT)

Cooper-Standard, Auto-Parts Maker, Files Bankruptcy (Update2)
Aug. 3 (Bloomberg) -- Cooper-Standard Holdings Inc., an auto-parts maker co-owned by Goldman Sachs Group Inc. , filed for bankruptcy protection along with its U.S. and Canadian affiliates after vehicle sales plunged. (Mon, 03 Aug 2009 14:50:10 GMT)

NWA Outlines Bankruptcy Emergence Plan
Executives of Northwest Airlines Corp., the nation's fourth-largest airline, spelled out for creditors on Friday their plans for bringing the company out of bankruptcy, including cost savings of up to $2.5 billion, labor cuts and plans to open a subsidiary that would fly smaller planes. (Mon, 03 Aug 2009 14:53:44 GMT)

Bankruptcy Bar welcomes Corrigan and new president
Jerrett McConnell presided over his first meeting as Jacksonville Bankruptcy Bar Association President Wednesday at the River Club. (Mon, 03 Aug 2009 15:26:16 GMT)

Bankruptcy Act may be amended to be client-friendly
MELAKA: The Bankruptcy Act 1967 might be amended to keep up with the changing times, said Minister in the Prime Minister's Department Datuk Seri Mohamed Nazri Abdul Aziz. (Mon, 03 Aug 2009 15:59:43 GMT)

Opel bid on agenda of GM board's first post-bankruptcy meeting
The new board of directors for General Motors mulled the sale of European unit Opel Monday at its first meeting since the automaker emerged from bankruptcy protection, an official with knowledge of the agenda told AFP. (Mon, 03 Aug 2009 23:09:42 GMT)

Bankruptcy judge postpones auction of Coyotes until Sept. 10
A bankruptcy judge has moved the local auction of the Phoenix Coyotes from Wednesday to Sept. 10. The question is whether Jerry Reinsdorf's $148 million bid will still be on the table then. (Tue, 04 Aug 2009 02:08:03 GMT)

Doe Run Peru’s Zinc Smelter May File for Bankruptcy (Update2)
Aug. 3 (Bloomberg) -- Doe Run Peru may file for bankruptcy to restructure debt at its shuttered zinc and lead smelter, Energy & Mines Minister Pedro Sanchez Gamarra said. (Tue, 04 Aug 2009 02:52:27 GMT)

Doe Run Peru’s Possible Bankruptcy to Spur Overseas Zinc Sales
Aug. 4 (Bloomberg) -- Zinc companies in Peru, the world’s third-largest producer, will look to sell more concentrates overseas after the government said smelter Doe Run Peru may file for bankruptcy, according to a creditor. (Tue, 04 Aug 2009 05:22:26 GMT)

Hospital, nursing home emerge from bankruptcy
Bertrand Chaffee Hospital and its Jennie B. Richmond Nursing Home have emerged from Chapter 11 bankruptcy, hospital officials announced Monday. (Tue, 04 Aug 2009 11:15:28 GMT)

Southwestern Ill. town seeks bankruptcy protection
This decaying southwestern Illinois village best known for its strip clubs has filed for bankruptcy protection for the second time in five years under the weight of mounting debt and the embezzlement of more than $440,000 by two village workers. (Tue, 04 Aug 2009 12:29:48 GMT)

Bankruptcy judge approves EPL reorganization
Associated Press - August 4, 2009 10:25 AM ET NEW ORLEANS (AP) - A federal bankruptcy judge has approved a financial reorganization plan for independent petroleum producer Energy Partners Ltd.,... (Tue, 04 Aug 2009 14:44:25 GMT)

Bankruptcy judge approves EPL reorganization
A federal bankruptcy judge has approved a financial reorganization plan for independent petroleum producer Energy Partners Ltd., but the company still must obtain financing to complete the deal. (Tue, 04 Aug 2009 14:54:53 GMT)

Owner of Ridglea Theater Files for Bankruptcy
The good news is Fort Worth's Ridglea Theater won't be foreclosed -- the bad news is the owners are filing for bankruptcy. (Tue, 04 Aug 2009 15:54:50 GMT)

Arena Football League nears folding, bankruptcy
The Arena Football League is on the brink of folding and declaring bankruptcy, an inglorious end for the 22-year-old indoor league that has suffered through a year of turmoil. (Tue, 04 Aug 2009 19:21:54 GMT)

How to Structure 363 Sales of Assets in Bankruptcy
As the recession continues, more businesses are being forced to file for Chapter 11 bankruptcy protection. In many cases, the bankruptcies are liquidations, not reorganizations, says Robbin Itkin, the head of Steptoe & Johnson's West Coast business and financial restructuring group. Itkin, a partner in the Los Angeles office, talked to The National Law Journal about how 363 sales are structured ... (Wed, 05 Aug 2009 02:48:30 GMT)

Judge issues show-cause order in Phoenix Coyotes bankruptcy case
A U.S. Bankruptcy Court judge is ordering the owner of the Phoenix Coyotes to show why he should not be held in contempt of court. (Wed, 05 Aug 2009 02:50:57 GMT)

Rainbows' bankruptcy strands 94 kids
Wichita could face a child care crisis in coming weeks as nearly 100 families — including dozens with special-needs children — seek new providers after a bankruptcy reorganization at Rainbows United. (Wed, 05 Aug 2009 12:04:48 GMT)

MarksJarvis on Money: Bankruptcy filings soar
With unemployment at 9.5 percent and people drowning in mortgage and credit card debt, consumer bankruptcy filings reached the highest level in July than any month since the Bankruptcy Abuse Prevention and Consumer Protection Act went into effect in October 2005, according to the American Bankruptcy Institute. (Wed, 05 Aug 2009 12:32:02 GMT)

Bankruptcy attorneys form new Wolfson & Bolton P.L.L.C.
The former bankruptcy and creditors' rights group of Troy-based Bush Seyferth & Paige P.L.L.C.has evolved into its own law firm, after two former partners left to form Wolfson & Bolton P.L.L.C. (Wed, 05 Aug 2009 14:31:30 GMT)

American Axle cites bankruptcy risk after deep loss
American Axle & Manufacturing Holdings Inc reported a bigger-than-expected quarterly loss on Wednesday due to steep production cuts by automakers and said it remained uncertain whether it could complete a debt restructuring outside of bankruptcy. (Wed, 05 Aug 2009 15:09:10 GMT)

Consumer bankruptcy filings most since October 2005
Consumer bankruptcy filings in the U.S. rose to the highest level since October 2005, the American Bankruptcy Institute said in a statement. (Wed, 05 Aug 2009 15:26:39 GMT)

Leibovitz May Have Better Luck in Bankruptcy Court (Update1)
Aug. 5 (Bloomberg) -- Celebrity photographer Annie Leibovitz may be better off declaring bankruptcy than battling a creditor suing her for breaching a contract related to a $24 million loan, bankruptcy experts said. (Wed, 05 Aug 2009 15:57:28 GMT)

Hughes Hubbard Hires 2 for Bankruptcy Practice
The partner, Kathryn Coleman, has worked at Gibson Dunn for more than 20 years, representing clients in bankruptcy like Scotia Pacific. Separately, the firm also hired Eric Fromme, a litigator and reorganization practitioner, as counsel. (Wed, 05 Aug 2009 20:37:18 GMT)

American Axle puts hope, energy into avoiding bankruptcy
American Axle & Manufacturing's top executive said the company is determined to avoid filing for bankruptcy it tries to turn around its business. (Thu, 06 Aug 2009 11:11:34 GMT)

Jewelry retailer Finlay Enterprises files for Chapter 11 bankruptcy protection
NEW YORK — Jewelry retailer Finlay Enterprises Inc. has filed for Chapter 11 bankruptcy protection and plans to pursue an auction of its business and assets. (Thu, 06 Aug 2009 11:57:19 GMT)

Finlay, Jewelry Retailer, Files for Bankruptcy (Update1)
Aug. 6 (Bloomberg) -- Finlay Enterprises Inc. , the New York-based jewelry retailer founded in 1887, filed for bankruptcy court protection and said it will hold an auction to sell its business and assets. (Thu, 06 Aug 2009 12:52:15 GMT)

Spanish bankruptcy cases on the rise
Spanish bankruptcy cases on the rise (Thu, 06 Aug 2009 13:29:39 GMT)

Developer Barber Files For Bankruptcy
SPRINGDALE — Real estate developer Brandon Lynn Barber filed Chapter 7 bankruptcy on July 31, leaving behind more than $47.79 million in debt owed to local banks and businesses. (Thu, 06 Aug 2009 14:54:31 GMT)

(AFX UK Focus) 2009-08-06 16:01 UPDATE 2-Jeweler Finlay files for bankruptcy; to liquidate
NEW YORK, Aug 6 (Reuters) - Jewelry retailer Finlay Enterprises Inc filed for bankruptcy in a Manhattan court late on Wednesday and said it plans to liquidate its assets. Finlay, which stopped selling jewelry in Macy's Inc and some other department stores, said the court will oversee an auction in which Gordon Brothers Retail Partners is the "stalking horse" bidder. The stalking horse sets a ... (Thu, 06 Aug 2009 15:04:02 GMT)

Bankruptcy Attorneys Become Advocates for Troubled Florida Homeowners
Southwest Florida has been heavily impacted by the national foreclosure crisis, leaving many families feeling overwhelmed and helpless. But some legal experts, such as Venice-based foreclosure defense and bankruptcy attorney William Galarza, Esq, say the threat of a looming foreclosure doesn't need to be a reason to give up hope. (Thu, 06 Aug 2009 15:11:00 GMT)

Another Jewel in the Weil Bankruptcy Crown
Another week, another major retail company turns to Weil, Gotshal & Manges to guide it through bankruptcy. This time it's Finlay Enterprises, a jewelry retailer with 200 stores nationwide. Weil began representing Finlay in March 2008, and has billed the company about $1.3 million since then. Partners and counsel on the case will bill between $650 and $950 per hour, while associate rates will ... (Fri, 07 Aug 2009 02:33:11 GMT)

Barber Files Chapter 7 Bankruptcy
He was once a prominent northwest Arkansas businessman. Now, Brandon Barber has filed for Chapter 7 bankruptcy protection. (Fri, 07 Aug 2009 03:23:36 GMT)

White Oak car dealership in bankruptcy
A Chrysler dealer who survived the cut and wasn't among 19 Pittsburgh-area franchises terminated by the automaker has lost financing from GMAC and is trying to sell his debt-laden business through bankruptcy. (Fri, 07 Aug 2009 04:04:26 GMT)

Gainey Corporation emerges from bankruptcy
West Michigan based Gainey Corporation has emerged from bankruptcy with a new owner and all of its employees. (Fri, 07 Aug 2009 06:35:15 GMT)

Promenade Shops jewelry store files for bankruptcy
The parent company of J.E. Caldwell, which operates a jewelry store in the Promenade Shops at Saucon Valley, has filed for bankruptcy and the fate of its one Lehigh Valley location is unclear. (Fri, 07 Aug 2009 08:11:08 GMT)

Boscov’s receives federal loan to get out of bankruptcy
The Boscov’s department store chain has received a $43.7 million loan from the U.S. Department of Housing and Urban Development that will be used to buy the company out of bankruptcy, a company representative said Thursday. (Fri, 07 Aug 2009 11:54:35 GMT)

Trevisan to Seek Bankruptcy After Failing Debt Restructuring
Aug. 7 (Bloomberg) --Trevisan Cometal SpA, an aluminum coatings and engineering company, said in a stock-exchange statement that it will seek bankruptcy protection after failing to agree on a debt restructuring plan with creditors, according to a statement distributed through the Italian exchange. (Fri, 07 Aug 2009 13:12:40 GMT)

Beall's Wins Goody's in Bankruptcy Auction, Plans for 22 New Stores
Off-price apparel retailer Beall's Outlet, a division of Bradenton, Fla.-based Beall's Inc., will open 22 new locations in the Southeast by the end of the year, reports The St. Petersburg Times . The company's new stores, acquired in a bankruptcy auction for 20 percent to 30 percent below market rent, will span across five states from Mississippi to North Carolina. (Fri, 07 Aug 2009 14:37:39 GMT)

Finlay Files for Bankruptcy
Finlay Fine Jewelry, a subsidiary of New York-based Finlay Enterprises Inc., has filed for Chapter 11 bankruptcy protection. (Fri, 07 Aug 2009 14:37:49 GMT)

Bailey Banks & Biddle parent company files for Chapter 11 bankruptcy protection
The New York-based parent company of the Bailey Banks & Biddle jewelry store chain has filed for Chapter 11 bankruptcy protection from creditors. The jewelry retailer has about five locations in the Dallas-Fort Worth Metroplex. (Fri, 07 Aug 2009 14:51:48 GMT)

CIT takes steps to avoid bankruptcy
Commercial lender CIT Group Inc., which is trying to avoid filing for bankruptcy protection, said Friday that it is suspending preferred dividend payments. (Fri, 07 Aug 2009 17:33:06 GMT)

Creditor in Lenny Dykstra bankruptcy case seeks emergency hearing
Lenny Dykstra, the ex-ballplayer turned entrepreneur, is accused of having "engaged in fraudulent and deceitful acts" by a major creditor in the federal Chapter 11 bankruptcy protection claim he filed last month. (Fri, 07 Aug 2009 18:53:13 GMT)

GM Targets Stock Sale Within Year of Bankruptcy Exit (Update2)
Aug. 7 (Bloomberg) -- General Motors Co. , the new automaker majority-owned by the U.S. Treasury, said it intends to make an initial public offering of stock by July 10, 2010, the one-year anniversary of its bankruptcy exit. (Fri, 07 Aug 2009 23:33:15 GMT)

GM Targets Stock Sale by July 2010, Year After Bankruptcy Exit
Aug. 8 (Bloomberg) -- General Motors Co. , the new automaker majority-owned by the U.S. Treasury, said it intends to make an initial public offering of stock by July 10, 2010, the one-year anniversary of its exit from bankruptcy. (Sat, 08 Aug 2009 06:54:32 GMT)

JPMorgan Asks Bankruptcy Judge for WaMu Noteholder Claims Lists
Aug. 8 (Bloomberg) -- JPMorgan Chase & Co. asked U.S. Bankruptcy Judge Mary Walrath to order noteholders of Washington Mutual Inc. to provide detailed lists of their claims. (Sat, 08 Aug 2009 06:55:13 GMT)

Pandora Media back from brink of bankruptcy
For years, Internet radio company Pandora Media Inc. teetered on the edge of bankruptcy. Not that the online music streaming service didn't have listeners - the Oakland firm has 31 million members and is adding up to 65,000 more each day. But a long dispute... Sponsored Topics: Pandora - Internet radio - Pandora Media - Music - Company (Sat, 08 Aug 2009 08:16:58 GMT)

Rise in number of Cumbrians seeking bankruptcy to clear debts
More Cumbrians are turning to bankruptcy as a way of clearing their debts as the effects of the recession continue to bite. (Sat, 08 Aug 2009 09:41:11 GMT)

Unions end challenge to Vallejo's bankruptcy
Two city employee unions have abandoned their challenge of Vallejo's bankruptcy eligibility, city officials said Friday.Since the city filed for Chapter 9 bankruptcy in May 2008, some of the city's labor unions have contested the move. (Sat, 08 Aug 2009 10:39:19 GMT)

Michigan-Based Supplier Files for Bankruptcy
Auto parts supplier Meridian Automotive Systems, which emerged from Chapter 11 bankruptcy protection in 2006, has filed for Chapter 7 liquidation. (Sat, 08 Aug 2009 12:33:25 GMT)

JRC emerges from bankruptcy
YARDLEY -- Journal Register Company, the parent company of the Main Line Media News, has announced that its pre-negotiated plan of reorganization (the “Plan”) has become effective and the Company has successfully emerged from Chapter 11 bankruptcy protection in less than six months from commencing the case. The Company has also closed on its exit financing consisting of a $150 million Tranche A ... (Sat, 08 Aug 2009 14:36:56 GMT)

Labor unions drop appeal of Vallejo bankruptcy
After almost a year of legal wrangling, Vallejo's labor unions have dropped their appeal of the city's bankruptcy filing, removing one of the final obstacles to the North Bay city's financial restructuring. The city's fire and electrical workers' unions... (Sun, 09 Aug 2009 01:26:54 GMT)

The Credit Guy: Formula can show if bankruptcy's best option
Q: Is trying to work with a credit person to help you get out of debt a good thing or is just filing for bankruptcy the best action to take when you are in over your head? (Sun, 09 Aug 2009 07:22:52 GMT)

Embattled Plainfield landlord files for bankruptcy over East Orange buildings
Bankruptcy documents have been filed in connection with buildings managed by Plainfield-based Connolly Properties. (Sun, 09 Aug 2009 15:41:03 GMT)

Man ignored bankruptcy duties — at his peril
In Kitchener’s Ontario Court Friday, Michael Lemay was given a suspended sentence and put on one-year’s probation for failing to fulfil his obligations under the Bankruptcy and Insolvency Act. (Sun, 09 Aug 2009 21:22:50 GMT)

TMO Scoop: Judge Dismisses Psystar Bankruptcy, Blocks Stays Against Apple
Psystar, the company Apple is suing for allegedly building and selling Mac clones without authorization, has been granted its motion to dismiss its Chapter 11 bankruptcy case in Florida. The Judge overseeing the case, however, included the stipulation that if Psystar files for Chapter 7 bankruptcy protection Apple's case against the company in California will not be subject to an automatic stay. (Mon, 10 Aug 2009 00:45:00 GMT)

Bashasâ files for Chapter 11 bankruptcy
The Bashas’ grocery stores in Morenci and Thatcher are not on the list of 10 stores the company has announced it is closing. Bashas’ Supermarkets Inc. also filed for Chapter 11 bankruptcy protection July 12, in an attempt to buy time and ride out the recession. (Mon, 10 Aug 2009 00:52:50 GMT)

CIT bankruptcy could stall Bill Me Later’s online sales
Bill Me Later’s business could be paralyzed temporarily if CIT Group Inc. doesn’t stave off a feared bankruptcy. (Mon, 10 Aug 2009 04:03:03 GMT)

Luxury home builder Impel Inc. files for bankruptcy protection
A luxury home builder that lost a south Charlotte property to arson last summer has filed for Chapter 11 bankruptcy protection. (Mon, 10 Aug 2009 04:35:42 GMT)

Bankruptcy leaves Rainbow’s creditors asking what’s next
Rainbows United Inc. filed Chapter 11 bankruptcy last week, leaving in its wake a trail of more than 200 local and national creditors and nearly $6 million in debt. (Mon, 10 Aug 2009 04:37:11 GMT)

Watchdog: Will bankruptcy pay off for Mercedes employees?
Hundreds of past and present Mercedes Homes employees would lose potentially millions of dollars in stock-based retirement benefits if a federal judge approves the Melbourne company's plan to emerge from bankruptcy. (Mon, 10 Aug 2009 05:29:01 GMT)

Bankruptcy Consumer Protection
Most believe that bankruptcy is a safe place and an opportunity for a fresh start. (Mon, 10 Aug 2009 07:05:00 GMT)

Darby mayor keeps home after filing for bankruptcy
DARBY BOROUGH — Mayor Helen Thomas has avoided losing her home to a sheriff’s sale after filing for bankruptcy protection Friday. (Mon, 10 Aug 2009 10:07:48 GMT)

Escada says bankruptcy looms
BERLIN - GERMAN high-end women's clothes label Escada said on Monday it would declare bankruptcy this week if a last-ditch debt restructuring deal with creditors is not approved. (Mon, 10 Aug 2009 15:18:38 GMT)

Car loan in bankruptcy a new deal breaker
If you reaffirmed your car loan in bankruptcy, make sure it's paid off before seeking a new loan. (Tue, 11 Aug 2009 10:00:00 GMT)

Car loan in bankruptcy a new deal breaker
Dear Bankruptcy Adviser, I filed bankruptcy last year. In the process, I had a car loan reaffirmed. The car is no longer on my credit report. Why? I even went to a dealership for a new car loan, was approved and no mention was made of my other car loan. (Tue, 11 Aug 2009 11:32:40 GMT)

CIT delays report, could have to file for bankruptcy
Troubled lender CIT Group Inc said on Tuesday it has delayed filing its second-quarter report with regulators and said if it could not complete its debt tender or arrange other financing, it would file for bankruptcy. (Tue, 11 Aug 2009 11:50:15 GMT)

CIT Says Bondholders Don’t Intend to Push for Bankruptcy Filing
Aug. 11 (Bloomberg) -- CIT Group Inc. , the 101-year-old commercial lender trying to avoid collapse, said bondholders don’t plan to push for a bankruptcy filing. (Tue, 11 Aug 2009 11:52:31 GMT)

CIT shares down on renewed bankruptcy fears
CIT Group Inc. shares are lower in the premarket on fears the troubled lender could be forced into bankruptcy proceedings if a pending tender offer for debt outstanding is not successfully completed. (Tue, 11 Aug 2009 12:10:30 GMT)

Is it possible to file for bankruptcy without affecting your spouse?
Q. Can a spouse file bankruptcy in a case where a new business has failed, and there is no money left to pay the lease payment on the building? The other spouse has not signed anything in regards to the... (Tue, 11 Aug 2009 12:16:34 GMT)

CIT Says Bondholders Won’t Push for Bankruptcy
CIT Group , a troubled lender to small and midsize businesses, said Tuesday that its bondholders don’t plan to push for a bankruptcy filing but also warned that a bankruptcy was still possible. (Tue, 11 Aug 2009 12:22:26 GMT)

Southwest Airlines Submits Bid to Acquire Frontier Airlines in Bankruptcy Court Proceeding
DALLAS, Aug. 10 /PRNewswire-FirstCall/ -- Southwest Airlines (NYSE: LUV) confirmed today that the carrier submitted its binding cash offer of more than $170 million to acquire Frontier Airlines, which will be sold at auction as part of Frontier's bankruptcy case. (Tue, 11 Aug 2009 13:59:42 GMT)

Fuel Pizza's sister restaurant files for bankruptcy
A popular lunch spot on The Green uptown has filed for bankruptcy protection, court records show. (Tue, 11 Aug 2009 14:00:17 GMT)

CIT delays report, may file for bankruptcy
Troubled lender CIT Group said it has delayed filing its quarterly report with regulators and said if it couldn't complete its debt tender or arrange other financing, it would file for bankruptcy. (Tue, 11 Aug 2009 15:48:16 GMT)

Philly newspapers hope $35M will end bankruptcy
Philadelphia Newspapers hopes to use $35 million in new capital to settle nearly $400 million in debt and emerge from bankruptcy. (Tue, 11 Aug 2009 23:26:58 GMT)

Journal Register emerges from bankruptcy
Journal Register Co., publisher of the New Haven Register and other newspapers, said it has emerged from bankruptcy protection and secured new financing from its lenders, six months after making its bankruptcy filing. (Tue, 11 Aug 2009 23:35:32 GMT)

Bankruptcy filings may hit 1.4 million
Personal bankruptcies show no sign of abating after rising more than a third this year and may hit 1.4 million by Dec. 31 as jobs are lost and loans are harder to get, according to the American Bankruptcy Institute. (Wed, 12 Aug 2009 01:40:39 GMT)

Bankruptcy seen "imminent" for lender Taylor Bean
Lawyers for Taylor, Bean & Whitaker Mortgage Corp, the 12th-largest U.S. mortgage lender, said in court papers last week that a "bankruptcy filing is imminent" for the lender after it was forced to shut down mortgage lending operations. (Wed, 12 Aug 2009 02:33:50 GMT)

Bankruptcy Is ‘Imminent’ for Lender Taylor Bean
Taylor, Bean & Whitaker Mortgage ’s lawyers said in court papers last week that a “bankruptcy filing is imminent” for the 12th-largest U.S. mortgage lender, after it was forced to shut down mortgage lending operations. (Wed, 12 Aug 2009 09:52:39 GMT)

Journal Register Emerges From Bankruptcy
Journal Register , the publishing company that filed for Chapter 11 protection in February, said on its Web site that it had emerged from bankruptcy. (Wed, 12 Aug 2009 11:22:19 GMT)

O.C. bankruptcy filings soar 77% in June
U.S. Bankruptcy Court reports large increases throughout So. Cal. (Wed, 12 Aug 2009 13:07:01 GMT)

General Growth lenders lose bid in bankruptcy case
Shopping mall operator General Growth Properties Inc. said Tuesday night that a bankruptcy judge has denied a motion by a group of lenders to keep a handful of its subsidiaries out of bankruptcy. (Wed, 12 Aug 2009 13:17:35 GMT)

General Growth lenders lose bid in bankruptcy case
Shopping mall operator General Growth Properties Inc. said Tuesday night that a bankruptcy judge has denied a motion by a group of lenders to keep a handful of its subsidiaries out of bankruptcy. The lenders, led by ING Clarion Capital Loan Services, had... Sponsored Topics: General Growth Properties - Bankruptcy - Shopping mall - United States - General officer (Wed, 12 Aug 2009 13:55:35 GMT)

Philly Papers Hoping To Emerge From Bankruptcy
Philadelphia Newspapers hopes to use $35 million in new capital to settle nearly $400 million in debts and emerge from bankruptcy. (Wed, 12 Aug 2009 15:15:48 GMT)

Greektown Casino, creditors ask court to speed hearings on bankruptcy
Detroit -- After more than a year of legal wrangling, a light is shining at the end of Greektown Casino-Hotel's tumultuous tunnel of bankruptcy. (Thu, 13 Aug 2009 05:17:31 GMT)

German fashion house Escada files for bankruptcy
German fashion company Escada AG has filed for bankruptcy after being unable to obtain sufficient financing, a Munich district court said Thursday. (Thu, 13 Aug 2009 11:09:31 GMT)

Escada Files for Bankruptcy in Munich as Revamp Fails (Update2)
Aug. 13 (Bloomberg) -- Escada AG filed for bankruptcy protection today at a court in Munich after the luxury clothing maker failed to win bondholders’ backing for its refinancing. (Thu, 13 Aug 2009 12:10:29 GMT)

Escada Files for Bankruptcy in Munich as Revamp Fails (Update3)
Aug. 13 (Bloomberg) -- Escada AG , the German luxury clothing maker whose dresses are worn by Demi Moore and socialite Paris Hilton, filed for bankruptcy protection after failing to win bondholders’ backing for its refinancing. (Thu, 13 Aug 2009 12:52:15 GMT)

Cavco Industries wins auction and bankruptcy court approval to acquire Fleetwood unit
PHOENIX, — Cavco Industries Inc. and the Third Avenue Trust Value Fund said late Wednesday that a bankruptcy court judge has approved its purchase of Fleetwood Enterprises Inc.'s manufactured housing business. (Thu, 13 Aug 2009 13:09:53 GMT)

Ramsay facing bankruptcy
British celebrity chef Gordon Ramsay is the latest victim of the international economic downturn - he has been facing bankruptcy after profits plunged at his international restaurant chain. (Thu, 13 Aug 2009 13:24:53 GMT)

Ramsay facing bankruptcy
Celebrity chef Gordon Ramsay is the latest victim of the international economic downturn - he has been facing bankruptcy after profits plunged at his international restaurant chain. (Thu, 13 Aug 2009 13:26:01 GMT)

Russian car maker IzhAvto files for bankruptcy
Russian car maker IzhAvto has filed for bankruptcy, leaving more than 5,000 jobs on the line amid the global economic downturn, a court said Thursday. (Thu, 13 Aug 2009 13:31:07 GMT)

Cena owner files for bankruptcy protection
Cena owner files for bankruptcy protection (Thu, 13 Aug 2009 15:28:42 GMT)

German fashion label Escada declares bankruptcy
German luxury women's fashion label Escada declared bankruptcy on Thursday, contrasting with an upbeat mood after official data showed Germany had emerged from recession in the second quarter. (Thu, 13 Aug 2009 16:09:28 GMT)

Bankruptcy filings surge in first-half 2009
U.S. bankruptcy filings rose 38 percent in April-June from a year ago, according to court data released Thursday, as consumers and business were hit by rising unemployment and a lack of credit. (Thu, 13 Aug 2009 19:09:50 GMT)

Bankruptcy Filings Up 35 Percent Over Last Year
Individuals and businesses filed 1.3 million bankruptcy cases in the year ended June 30, an increase of 35 percent over the previous year, the Administrative Office of the U.S. Courts said Thursday. It is the third consecutive annual increase, as the recession has forced thousands of businesses to close shop and as job losses and rising debt have caused individuals to seek protection from ... (Fri, 14 Aug 2009 03:19:05 GMT)

Personal Bankruptcy Filings Rise 34 Percent
Personal bankruptcy filings reached 1.25 million in the year ending June 30, up 34 percent from the year before, as Americans continued to grapple with debt, unemployment and devalued homes, according to figures released Thursday by the Administrative Office of the U.S. Courts. (Fri, 14 Aug 2009 04:00:00 GMT)

Bankruptcy Filings Up 35 Percent Over Last Year
Individuals and businesses filed 1.3 million bankruptcy cases in the year ended June 30, an increase of 35 percent over the previous year, the Administrative Office of the U.S. Courts said Thursday. (Fri, 14 Aug 2009 07:02:44 GMT)

England, Wales 2Q Bankruptcy, Co Winding-Up Petitions Fall QQ
LONDON -(Dow Jones)- The number of bankruptcy and company winding-up petitions presented in courts in England and Wales in the second quarter of 2009 fell on the previous quarter, Ministry of Justice statistics showed Friday. (Fri, 14 Aug 2009 09:24:46 GMT)

Denny Hecker bankruptcy trustee to issue subpoenas
MINNEAPOLIS (AP) -- Dozens of friends and business associates of Denny Hecker could soon get subpoenas from the U.S. trustee in the fallen auto mogul's bankruptcy case. Bankruptcy trustee Randy Seaver (Fri, 14 Aug 2009 12:55:38 GMT)

Bankruptcy filings surge 35% in R.I.
WASHINGTON – There were 4,869 bankruptcy filings in Rhode Island in the year ending June 30, up 35 percent from the previous year, according to figures released yesterday by the Administrative Office of the U.S. Courts. (Fri, 14 Aug 2009 15:24:48 GMT)

Bankruptcy Halts Framingham Condo Foreclosure Auction
A bankruptcy filing halted the auction of The Residences at Dennison Triangle in Framingham, as owner David Depietri filed for Chapter 11 on behalf of Framingham 4 Bishop LLC. (Fri, 14 Aug 2009 15:58:47 GMT)

Auto suppliers under bankruptcy protection
Auto parts supplier Visteon Corp. has asked a Delaware bankruptcy judge for permission to cut health and life insurance benefits for thousands of current and former workers. (Fri, 14 Aug 2009 23:20:19 GMT)

Auto suppliers under bankruptcy protection
Auto parts supplier Visteon Corp. has asked a Delaware bankruptcy judge for permission to cut health and life insurance benefits for thousands of current and former workers. Judge Christopher Sontchi said Friday that he needs time to consider the evidence and... Sponsored Topics: Visteon - Bankruptcy - Business - Bankruptcy protection - United States (Fri, 14 Aug 2009 23:54:42 GMT)

Frontier aims to emerge from bankruptcy next month
The wild animals on the tails of Frontier Airlines planes aren't going away, and for now, neither are most of their employees. Republic won an auction to buy Frontier out of bankruptcy Thursday as the underdog with a $108.8 million bid that had been sweetened... Sponsored Topics: Frontier Airlines - Airline - Bankruptcy - Southwest Airlines - Auction (Sat, 15 Aug 2009 00:09:42 GMT)

Frontier Airlines Expects Exit From Bankruptcy
Republic Airways Holdings won a bankruptcy court auction for Frontier, with a bid of nearly $109 million that had been raised to offer creditors other than Republic about 18 cents on the dollar. (Sat, 15 Aug 2009 01:01:45 GMT)

Creditors seek to push Ellen Tracy into bankruptcy
A group of Asian manufacturers filed court papers on Friday in an attempt to push U.S. women's apparel brand Ellen Tracy into bankruptcy. (Sat, 15 Aug 2009 01:57:39 GMT)

Tribune Co. creditors could sue over bankruptcy
Tribune Co. creditors have asked the bankruptcy court for permission to hire special counsel to further investigate the $8.2 billion leveraged buyout of the Chicago-based media company engineered by real estate magnate Sam Zell. The inquiry is common practice when a bankruptcy follows closely on the heels of an LBO, said bankruptcy experts. Zell closed the transaction that took Tribune Co. ... (Sat, 15 Aug 2009 03:39:07 GMT)

Sportsman's Warehouse exits bankruptcy, keeps Reno store
Sportsman's Warehouse, Inc. said Friday that it has successfully exited bankruptcy. The reorganized company will continue to operate 26 retail stores in 14 states, including the store in Reno. The store sells products for hunting, fishing, camping and outdoor recreation. (Sat, 15 Aug 2009 08:46:40 GMT)

Ex-UK star Issel files for bankruptcy
Former Kentucky basketball great Dan Issel filed for Chapter 7 bankruptcy June 30, claiming he's more than $4.5 million in debt, according to a report in the Denver Post on Friday. (Sat, 15 Aug 2009 11:04:25 GMT)

Frontier aims to emerge from bankruptcy next month
Frontier Airlines CEO Sean Menke says the Denver-based carrier could emerge from bankruptcy as early as next month. (Sat, 15 Aug 2009 11:08:44 GMT)

Sportsman's Warehouse exits bankruptcy, keeps Reno store
Sportsman's Warehouse, Inc. said Friday that it has successfully exited bankruptcy. The reorganized company will continue to operate 26 retail stores in 14 states, including the store in Reno. The store sells products for hunting, fishing, camping and outdoor recreation. (Sun, 16 Aug 2009 00:18:42 GMT)

Frontier Airlines hopes to emerge from bankruptcy
DENVER - Frontier Airlines CEO Sean Menke says the Denver-based carrier could emerge from bankruptcy as early as next month. (Sun, 16 Aug 2009 15:26:31 GMT)

Rival banks battle over Mastro bankruptcy
A legal battle between rival creditor banks over developer Michael Mastro Sr.’s real estate holdings is breaking out in federal bankruptcy court — a dispute that affects creditors’ ability to recoup their loans and sheds light on the extensive amount of property Mastro had amassed in the years before his financial trouble began. (Mon, 17 Aug 2009 04:06:34 GMT)

Dealing with car loans after bankruptcy
Q: I filed for bankruptcy protection last year. In the process, I had a car loan reaffirmed.... (Mon, 17 Aug 2009 12:31:33 GMT)

Frontier sees fast exit from bankruptcy
DENVER - Frontier Airlines could emerge from bankruptcy as early as Sept. 17, according to the Denver-based carrier's chief executive. And although most jobs with the airline likely will be preserved, where certain facilities will be located remains to be seen. (Mon, 17 Aug 2009 13:21:03 GMT)

US: Asian creditors seek Ellen Tracy bankruptcy
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: Women's apparel brand Ellen Tracy Ellen LLC is facing an involuntary bank bankruptcy petition from three Asian manufacturers who claim the company owes them $3.8m. (Mon, 17 Aug 2009 13:30:02 GMT)

CIT Group wraps debt purchase, dodges bankruptcy
Commercial lender CIT Group Inc. said Monday its offer to repurchase outstanding debt at a discount — a crucial step to help stave off bankruptcy — was successful. (Mon, 17 Aug 2009 13:45:46 GMT)

Frontier Could Exit Bankruptcy In Sept.
Frontier could exit Chapter 11 bankruptcy protection by the middle of next month, CEO Sean Menke said last week. (Mon, 17 Aug 2009 14:11:05 GMT)

CIT Group dodges bankruptcy ... for now
The commercial lender, which has struggled in recent weeks to avoid bankruptcy, says its offer to repurchase outstanding debt at a discount provides some breathing room. (Mon, 17 Aug 2009 14:41:34 GMT)

UPDATE: Reader's Digest To File For Bankruptcy
NEW YORK -(Dow Jones)- The Reader's Digest Association Inc., which was taken private just over two years ago, said it reached an agreement with its lenders on a restructuring plan that it will likely complete under a prepackaged bankruptcy filing in order to reduce its debt. (Mon, 17 Aug 2009 15:39:59 GMT)

Reader's Digest plans to file for bankruptcy
Reader's Digest Association, publisher of the widely read Reader's Digest magazine, said Monday it will probably file for Chapter 11 bankruptcy for its U.S. businesses to cut its debt load. (Mon, 17 Aug 2009 15:43:47 GMT)

RDA Preps Bankruptcy Filing
Reader's Digest Association, its turnaround plans scuttled by the recession, said it plans to cut its debt by 75 percent while seeking bankruptcy protection. (Mon, 17 Aug 2009 15:57:35 GMT)

Reader's Digest to file for bankruptcy protection
Reader's Digest, publisher of the monthly magazine which claims the largest circulation in the world, announced plans on Monday to file for bankruptcy protection in agreement with its major lenders. (Mon, 17 Aug 2009 17:20:43 GMT)

Reader's Digest Set to File for Bankruptcy
Reader's Digest -- an American media icon of the 20th century, thanks to its inspiring, safe-for-family-reading articles and folksy, cornpone humor -- is planning to file for Chapter 11 bankruptcy reorganization. (Mon, 17 Aug 2009 17:42:13 GMT)

Reader's Digest plans to file for bankruptcy
Reader's Digest Association Inc, publisher of the widely-read Reader's Digest magazine, said on Monday it would likely file for Chapter 11 bankruptcy for its U.S. businesses to cut its debt load. (Mon, 17 Aug 2009 18:54:22 GMT)

Reader's Digest plans prearranged bankruptcy
Reader's Digest Association Inc, whose namesake magazine has been a staple of dentists' offices for generations, said on Monday it planned to file for Chapter 11 bankruptcy for its U.S. businesses as part of a prearranged plan with lenders to cut debt by 75 percent. (Mon, 17 Aug 2009 20:22:19 GMT)

Bankruptcy hearing set for RI greyhound track
Lawyers for the Twin River slot parlor and greyhound race track are back in federal bankruptcy court. (Tue, 18 Aug 2009 09:24:41 GMT)

Key lender CIT posts $1.68B loss, threatens bankruptcy
Commercial lenderCIT Group said Monday in a regulatory filing that it lost $1.68 billion in the second quarter, and again warned it might have to file for bankruptcy protection if it fails to restructure its business. (Tue, 18 Aug 2009 12:13:48 GMT)

InterContinental Chicago O'Hare in bankruptcy
Investment company unable to renegotiate debt for InterContinental Chicago O'Hare, Radisson at LAX The InterContinental Chicago O'Hare luxury hotel and the Radisson hotel at Los Angeles International Airport were placed in bankruptcy by their owner, Harp Group, after failing to renegotiate $275 million of debt. (Tue, 18 Aug 2009 12:22:56 GMT)

CIT Group posts $1.68B Q2 loss; again warns it might need to file for bankruptcy
NEW YORK - Commercial lender CIT Group Inc. said Monday in a regulatory filing it lost $1.68 billion in the second quarter, and again warned it might have to file for bankruptcy protection if it fails to restructure its business. (Tue, 18 Aug 2009 13:47:00 GMT)

Weil Poised to Pass $100 Million Mark in Lehman Bankruptcy Fees
We may have to scan the dockets of the largest bankruptcies in recent U.S. history to see if any of them produced so much legal work as quickly as the Lehman Brothers Chapter 11 has since the bank filed for bankruptcy almost exactly 11 months ago. (Tue, 18 Aug 2009 14:31:50 GMT)

GM Announces First Production Hike, Worker Rehire Since Bankruptcy
For the first time since the company filed for bankruptcy, General Motors is hiring back workers and adding overtime to meet higher-than-expected demand for cars and trucks. (Tue, 18 Aug 2009 21:15:43 GMT)

Crunch gym's closing part of bankruptcy restructuring
The Crunch health club at Grand and Wabash Avenues is slated to be closed next month as part of a restructuring of the chain in bankruptcy court. (Wed, 19 Aug 2009 01:22:56 GMT)

Kirk Homes optimistic it will emerge from bankruptcy
Builder has made small strides in Chapter 11, but its future uncertain Kirk Homes, which hasn't dug a foundation since its May bankruptcy filing, learns next month whether it's still a home builder or another statistic in the nation's housing meltdown. (Wed, 19 Aug 2009 01:52:56 GMT)

'Bad Boy' Dispute Brewing Over Hotel Chain Bankruptcy
The day after hotel chain Extended Stay filed for bankruptcy, its lenders sued the company's chairman for $100 million for allegedly violating "bad boy" guaranty provisions. Extended Stay's lawyers at Kasowitz, Benson, Torres & Friedman say the plaintiffs are looking for leverage in the company's reorganization. Motives aside, the suit could clarify the limits of liability under bad boy ... (Wed, 19 Aug 2009 02:18:08 GMT)

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