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Home > Bankruptcy News

Bankruptcy News Dec 2009

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Orphanage owner files bankruptcy
MARQUETTE - Roger Rinne, owner of the former Holy Family Orphans Home on Altamont Street in Marquette, has filed a voluntary petition for bankruptcy. The petition was filed in November under Chapter 13 of the bankruptcy code in the U.S. Bankruptcy Court District of Arizona. (Thu, 17 Dec 2009 15:41:13 GMT)

Hoffa Says Goldman Sachs Driving YRC Into Bankruptcy (Update1)
Dec. 17 (Bloomberg) -- International Brotherhood of Teamsters President James Hoffa said Goldman Sachs Group Inc. is creating derivatives trades that would profit from the bankruptcy of YRC Worldwide Inc. (Thu, 17 Dec 2009 15:41:35 GMT)

Kleinberg: A business bankruptcy checklist
In deciding whether to place your business into a bankruptcy proceeding, it is important to first resolve the question of how you are going to get the business out of bankruptcy. The first question is whether your business can and should survive. Generally, a business which has projected future earnings whose discounted present value today exceeds [...] (Thu, 17 Dec 2009 15:52:01 GMT)

Thomson SA files for US bankruptcy protection
France's Thomson SA has filed for Chapter 15 bankruptcy protection, a companion filing to its French insolvency case, to protect its assets in the U.S. as it tries to reorganize its heavy debt load. (Fri, 18 Dec 2009 00:58:11 GMT)

1st Circuit Rules ADA Discrimination Claim Is Dischargeable in Bankruptcy
The 1st Circuit recently ruled in a case of first impression that an Americans with Disabilities Act discrimination claim against a company in bankruptcy should be treated like a dischargeable bankruptcy claim. Janelle Rederford, who claimed she suffered from lupus during most of her 24 years as a U.S. Airways employee, filed an employment discrimination claim in April 2002. After U.S. Airways ... (Fri, 18 Dec 2009 05:11:13 GMT)

Multimillion-Dollar Fee Requests Have Some Questioning Big Bankruptcy Bills
The latest fee requests in the bankruptcies of Bernard L. Madoff Investment Securities and Nortel Networks are boosting the bottom lines of two Am Law 100 firms. A judge on Thursday awarded Madoff trustee Irving H. Picard and his firm, Baker & Hostetler, roughly $22 million in interim counsel fees for five months of work. And a Delaware bankruptcy court has approved Cleary Gottlieb Steen ... (Fri, 18 Dec 2009 05:12:49 GMT)

Vion Pharmaceuticals Files Bankruptcy After FDA Rejects Drug
Dec. 18 (Bloomberg) -- Vion Pharmaceuticals Inc. filed for bankruptcy after the U.S. Food and Drug Administration said it wouldn’t approve the drug developer’s application for the Onrigin anti-cancer injection in its present form. (Fri, 18 Dec 2009 06:11:15 GMT)

YRC Has Until Yearend to Corral Bondholders, Avert Bankruptcy
Dec. 18 (Bloomberg) -- YRC Worldwide Inc. has less than two weeks to persuade bondholders to accept a debt exchange and prevent a bankruptcy filing that its employees’ union says may force the biggest U.S. trucking company to liquidate. (Fri, 18 Dec 2009 06:34:44 GMT)

Lehman bankruptcy judge OKs US$50M in bonuses
Lehman, the investment bank liquidating in bankruptcy, asked U.S. Bankruptcy Judge James Peck in New York last month for permission to pay the bonuses to about 230 full-time employees unwinding the ..... (Fri, 18 Dec 2009 11:17:18 GMT)

Diocese bankruptcy judge unseals victim settlement
The judge presiding over the Chapter 11 bankruptcy of the Catholic Diocese of Wilmington ordered Thursday that details of a settlement with an alleged victim of priest sexual abuse be unsealed. (Fri, 18 Dec 2009 14:30:18 GMT)

Okla. bankruptcy of Alamo follower investigated
Associated Press - December 18, 2009 9:35 AM ET TEXARKANA, Ark. (AP) - A bankruptcy trustee in Oklahoma has met with an associate of convicted evangelist Tony Alamo as he investigates possible... (Fri, 18 Dec 2009 14:36:59 GMT)

Oklahoma bankruptcy of Alamo follower investigated
A bankruptcy trustee in Oklahoma has met with an associate of convicted evangelist Tony Alamo as he investigates possible bankruptcy fraud. (Fri, 18 Dec 2009 15:46:13 GMT)

Oklahoma bankruptcy of Alamo follower investigated
TEXARKANA, Ark. (AP) — A bankruptcy trustee in Oklahoma has met with an associate of convicted evangelist Tony Alamo as he investigates possible bankruptcy fraud.Gerald Miller of the Eastern District of Oklahoma met Dec. 7 with Thomas Scarcello and Scarcello's attorney. Both Miller and Scarcello's attorney — Darrell Johnson of Fort Smith — declined to elaborate on the meeting.Miller asked last ... (Fri, 18 Dec 2009 16:00:46 GMT)

CMA CGM Warns of Bankruptcy Unless Bondholders Back Debt Change
Dec. 18 (Bloomberg) -- CMA CGM SA, the world’s third- biggest container shipping company, told bondholders it faces bankruptcy unless they approve a plan to raise more debt. (Fri, 18 Dec 2009 20:14:51 GMT)

Bankruptcy judge approves St. Mary's reorganization plan
“This hospital has gotten up and running, and needs all the help it can get from any source,” Judge Morris Stern said in U.S. Bankruptcy Court in Newark. (Sat, 19 Dec 2009 01:04:07 GMT)

Lehman bankruptcy judge OKs US$50M in bonuses
Lehman, the investment bank liquidating in bankruptcy, asked U.S. Bankruptcy Judge James Peck in New York last month for permission to pay the bonuses to about 230 full-time employees unwinding the ..... (Sat, 19 Dec 2009 08:57:07 GMT)

Airline unions decry bankruptcy laws
A group of unions representing airline workers is seeking changes to US bankruptcy laws that would make it harder for airlines to scrap labor agreements in court. (Sat, 19 Dec 2009 09:09:39 GMT)

Symphony files bankruptcy
The Honolulu Symphony owes its largest creditors about $2.4 million and has assets of between $100,000 and $500,000, according to documents filed in Bankruptcy Court in Honolulu yesterday. (Sat, 19 Dec 2009 11:35:34 GMT)

Homes of Merit Files For Bankruptcy
Homes of Merit, once the largest tenant by far at the Bartow Municipal Airport industrial park, is in bankruptcy. (Sat, 19 Dec 2009 11:36:02 GMT)

Honolulu Symphony files for bankruptcy, plans to downsize
HONOLULU — More than a month after announcing plans to seek bankruptcy protection, the Honolulu Symphony made it official: It filed for Chapter 11 reorganization in federal court yesterday. The 109-year-old symphony, which bills itself as the oldest American orchestra west of the Rockies, said it needs to enter bankruptcy to cut its debt and reduce its payroll by as much as half. (Sat, 19 Dec 2009 12:11:39 GMT)

Bankruptcy judge approves St. Mary's reorganization plan
A federal bankruptcy judge on Friday approved the disclosure statement of St. Mary’s Hospital’s reorganization plan, saying the Passaic hospital is a “vital facility” committed to becoming solvent again. (Sat, 19 Dec 2009 12:25:40 GMT)

Granholm's hopes crumble as GM, Chrysler file for bankruptcy
Michigan's governor has been a cheerleader in a state suffering a crippling economic downturn. But when President Barack Obama called her at home on a Sunday night, it was to deliver what she took as the worst news of all: GM would file for bankruptcy. (Sat, 19 Dec 2009 16:19:04 GMT)

Citadel to file bankruptcy as soon as Sunday: report
Citadel Broadcasting Corp , the third largest U.S. radio broadcaster, plans to file for bankruptcy as soon as Sunday, the Wall Street Journal reported on Saturday. (Sat, 19 Dec 2009 22:18:33 GMT)

Bankruptcy final for AFL
Arena Football One, the new Arena Football league set to begin play in 2010, officially has completed the purchase of the assets of the Arena Football League through a bankruptcy court-mandated auction from an appointed Trustee. That allows AF1 to use the team names, trademarks and logos of the defunct AFL. The Chicago Rush will do so. Former Peoria Pirates head coach Mike Hohensee has signed a ... (Sun, 20 Dec 2009 02:23:21 GMT)

Citadel to file bankruptcy as soon as Sunday: Report
Citadel to file bankruptcy as soon as Sunday: ReportCitadel to file bankruptcy as soon as Sunday: Report (Sun, 20 Dec 2009 02:24:09 GMT)

Bankruptcy final for AFL
Arena Football One, the new Arena Football league set to begin play in 2010, officially has completed the purchase of the assets of the Arena Football League through a bankruptcy court-mandated auction from an appointed Trustee. (Sun, 20 Dec 2009 03:36:16 GMT)

Bankruptcy fraud enjoys 'open season'
WASHINGTON - U.S. authorities prosecuted the fewest number of people and companies for criminal bankruptcy fraud this year since at least 1986, even as filings rose amid the worst economic crisis sinc... (Sun, 20 Dec 2009 07:12:03 GMT)

Council to examine path to pull city out of bankruptcy
In a little more than a month, Vallejo attorneys will be back before a federal bankruptcy judge in Sacramento to update the city's financial progress.Before then, the Vallejo City Council will consider Tuesday an initial map out of bankruptcy, drafted by the city manager (Sun, 20 Dec 2009 08:16:06 GMT)

E3 bankruptcy case turns into lawsuits
WAHOO – Recent developments in the bankruptcy proceedings for the E3 BioFuels ethanol plant located a mile south of Mead have several area producers and business owners pondering their next move. (Sun, 20 Dec 2009 09:39:09 GMT)

Citadel to File for Bankruptcy: Report
Burdened by debt, the nation's No. 3 radio station owner plans to file for bankruptcy protection as early as Sunday, according to The Wall Street Journal . (Sun, 20 Dec 2009 12:55:34 GMT)

Lehman bankruptcy judge OKs US$50M in bonuses
Lehman, the investment bank liquidating in bankruptcy, asked U.S. Bankruptcy Judge James Peck in New York last month for permission to pay the bonuses to about 230 full-time employees unwinding the ..... (Sun, 20 Dec 2009 13:20:20 GMT)

Citadel Broadcasting files for bankruptcy
Citadel Broadcasting Co., the third-largest radio group in the United States, filed for Chapter 11 bankruptcy Sunday. (Sun, 20 Dec 2009 19:14:26 GMT)

Radio's Citadel Broadcasting files for bankruptcy
Citadel Broadcasting Corp., the third-largest U.S. radio broadcasting company, filed for bankruptcy protection on Sunday in an effort to restructure its hefty debt load. (Sun, 20 Dec 2009 19:18:44 GMT)

Citadel Broadcasting Files for Bankruptcy
Citadel Broadcasting, one of the nation's biggest radio companies, filed for bankruptcy in New York on Sunday after reaching a pact with its creditors over an accelerated Chapter 11 filing. (Sun, 20 Dec 2009 19:41:06 GMT)

Citadel Broadcasting files Chapter 11 bankruptcy
Citadel Broadcasting Corp., the nation's third-largest radio broadcasting company, filed for Chapter 11 bankruptcy protection on Sunday in an effort to restructure its hefty debt load as it continues to face declining advertising revenue. (Sun, 20 Dec 2009 23:01:34 GMT)

Citadel Broadcasting files bankruptcy protection
Citadel Broadcasting Corp , the third-largest U.S. radio broadcaster, said on Sunday it filed for the bankruptcy protection, as the radio industry continues to be hard hit by depressed advertising revenue. (Mon, 21 Dec 2009 03:06:10 GMT)

Radio giant Citadel files for bankruptcy protection
The owner of 224 stations, including KABC-AM (790) in Los Angeles, aims to restructure its debt load amid an ad slump. Citadel Broadcasting Corp., the nation's third-largest radio broadcasting company, filed for Chapter 11 bankruptcy protection Sunday in an effort to restructure its hefty debt load as it continues to face declining advertising revenue. (Mon, 21 Dec 2009 05:50:35 GMT)

Citadel Broadcasting Files for Bankruptcy With Deal on Debt
Dec. 21 (Bloomberg) -- Citadel Broadcasting Corp. , the owner of radio stations in cities including New York and Chicago, filed for U.S. bankruptcy protection in Manhattan with a deal to shed $1.4 billion of debt. (Mon, 21 Dec 2009 08:06:32 GMT)

Citadel Broadcasting Corp files for Chapter 11 bankruptcy protection
Citadel Broadcasting Corp., the nation's third-largest radio broadcasting company, filed for Chapter 11 bankruptcy protection on Sunday in an effort to restructure its hefty debt load. (Mon, 21 Dec 2009 09:44:00 GMT)

Radio station owner NextMedia files for bankruptcy
NextMedia Group Inc filed for bankruptcy protection under a pre-arranged plan that will hand over control of the U.S. radio station operator and outdoor advertising company to certain creditors, court papers showed. (Mon, 21 Dec 2009 14:15:34 GMT)

TLC Vision, Tiger Woods Sponsor, Files for Bankruptcy (Update1)
Dec. 21 (Bloomberg) -- TLC Vision Corp ., the eye-care services company that sponsors golfer Tiger Woods , sought bankruptcy protection. The company listed both assets and debt of $100 million to $500 million in Chapter 11 documents filed today in U.S. Bankruptcy Court in Wilmington, Delaware. (Mon, 21 Dec 2009 16:56:10 GMT)

Citadel, other media companies file bankruptcy
Three more media companies, including broadcaster Citadel Broadcasting , have filed for bankruptcy, brought low by the drop in advertising revenue and crushing debt loads. (Mon, 21 Dec 2009 17:58:22 GMT)

Tamarack creditors, Swiss bank in bankruptcy fight
A Swiss bank seeking some $300 million from Tamarack Resort should go to the end of the line when it comes to getting repaid, other creditors argue in U.S. Bankruptcy Court. (Mon, 21 Dec 2009 21:32:33 GMT)

Lehman Unit LB Somerset Files Bankruptcy; Assets Top $1 Billion
Dec. 21 (Bloomberg) -- An affiliate of Lehman Brothers Holdings Inc., LB Somerset LLC, filed for Chapter 11 bankruptcy proceedings today in a New York court listing assets and debt of more than $1 billion owed to more than 100,000 creditors. (Tue, 22 Dec 2009 05:11:30 GMT)

After Citadel, 2 More File for Bankruptcy
Broadcaster NextMedia Group and newspaper publisher Heartland Publications followed Citadel Broadcasting into bankruptcy court on Monday, Reuters reported. (Tue, 22 Dec 2009 08:26:09 GMT)

Bankers get two ethanol plants in bankruptcy
Unable to handle debts approaching $1 billion, Hawkeye Energy, Iowa’s largest ethanol producer, turned over plants in Iowa Falls and Fairbank to bankers in a bankruptcy filing on Monday. (Tue, 22 Dec 2009 10:14:45 GMT)

Tiger-sponsored TLC Vision in bankruptcy protection
TLC Vision Corp., a TSX-listed, U.S. company that sponsors Tiger Woods, filed for bankruptcy protection on Monday and said it would sell six Canadian surgery centres. (Tue, 22 Dec 2009 14:48:24 GMT)

Lehman bankruptcy judge OKs US$50M in bonuses
Lehman, the investment bank liquidating in bankruptcy, asked U.S. Bankruptcy Judge James Peck in New York last month for permission to pay the bonuses to about 230 full-time employees unwinding the ..... (Tue, 22 Dec 2009 14:59:18 GMT)

Latham International, Pool Maker, Seeks Bankruptcy (Update1)
Dec. 22 (Bloomberg) -- Latham International Inc. , a maker of vinyl liners and other in-ground swimming pool components, filed for Chapter 11 bankruptcy protection, with a reorganization plan that would shift ownership of the company to the holders of a $147.9 million term loan. (Tue, 22 Dec 2009 15:11:39 GMT)

Lehman Unit LB Somerset Files Bankruptcy; Assets Top $1 Billion
Dec. 22 (Bloomberg) -- An affiliate of Lehman Brothers Holdings Inc. , LB Somerset LLC, filed for Chapter 11 bankruptcy proceedings in a New York court listing assets and debt of more than $1 billion owed to more than 100,000 creditors. (Tue, 22 Dec 2009 15:45:49 GMT)

Motorsports Authentics scrambles to avoid bankruptcy
In an all-out effort to avoid bankruptcy, the joint owners of Motorsports Authentics are attempting to reorganize the troubled licensed merchandise company and settle the millions of dollars it owes several NASCAR teams. (Tue, 22 Dec 2009 23:17:00 GMT)

Idearc could emerge from bankruptcy by year-end
Yellow Pages publisher Idearc Inc. said Tuesday the U.S. Bankruptcy Court in Dallas has confirmed its reorganization plan. (Wed, 23 Dec 2009 00:22:13 GMT)

Idearc could emerge from bankruptcy by year-end
Yellow Pages publisher Idearc Inc. said Tuesday the U.S. Bankruptcy Court in Dallas has confirmed its reorganization plan. The decision positions the company, which was spun off from Verizon in 2006, to emerge from its Chapter 11 bankruptcy proceedings by the... Chapter 11 Title 11 United States Code - Yellow Pages - Dallas - United States - Law (Wed, 23 Dec 2009 00:54:59 GMT)

Cook Children's, health science center to share $1 million from Osteopathic bankruptcy case
The funds from the Osteopathic bankruptcy will go toward charity care. (Wed, 23 Dec 2009 05:50:08 GMT)

Bankruptcy Trustee: Kelly Gearhart should not be allowed to walk away from debt
The Ohio trustee handling Atascadero developer Kelly Gearhart’s bankruptcy case is seekin (Wed, 23 Dec 2009 07:43:32 GMT)

Used car warranty company files for bankruptcy protection
An Eynon company that abruptly closed its doors amid an investigation by the state attorney general's office filed for Chapter 7 bankruptcy on Monday. The bankruptcy filing was announced by J.P. McGowan, senior deputy attorney general in the bureau of co (Wed, 23 Dec 2009 09:06:52 GMT)

Smurfit-Stone Chairman, CEO Moore plans to retire when company exits bankruptcy protection
CREVE COEUR, Mo. - Smurfit-Stone Container Corp. Chairman and CEO Patrick Moore plans to retire within a year of the company's emergence from Chapter 11 bankruptcy protection. (Wed, 23 Dec 2009 12:48:08 GMT)

Citadel Broadcasting files Chapter 11 bankruptcy
Citadel Broadcasting Corp., the nation's third-largest radio broadcasting company, filed for Chapter 11 bankruptcy protection on Sunday in an effort to restructure its hefty debt load as it continues to face declining advertising revenue. (Wed, 23 Dec 2009 13:32:26 GMT)

Citadel Broadcasting Files for Bankruptcy With Deal on Debt
Citadel Broadcasting Corp., the owner of radio stations in cities including New York and Chicago, filed for U.S. bankruptcy protection in Manhattan with a deal to shed $1.4 billion of debt. (Wed, 23 Dec 2009 15:58:49 GMT)

Park Lafayette developer files for bankruptcy protection
Fighting a $100 million foreclosure suit and a severe cash squeeze, the developer of the troubled Park Lafayette condominium towers on Milwaukee's east side sought bankruptcy court protection from creditors Wednesday. (Wed, 23 Dec 2009 22:31:18 GMT)

Panolam Industries Emerges From Bankruptcy Protection
Panolam Industries International Inc. emerged from bankruptcy Wednesday, after a bankruptcy court earlier this month approved its reorganization plan that will slash $151 million in debt from its balance sheet. (Wed, 23 Dec 2009 23:02:14 GMT)

Bankruptcy list
Filed in U.S. Bankruptcy Court, Pittsburgh. (Thu, 24 Dec 2009 03:13:57 GMT)

Aiful Avoids Bankruptcy as Creditors Said to Approve Debt Plan
Dec. 24 (Bloomberg) -- Aiful Corp. , Japan’s third-largest consumer lender by assets, won approval from creditors for a debt restructuring plan that will enable it to avoid bankruptcy, according to two people with direct knowledge of the matter. (Thu, 24 Dec 2009 06:30:13 GMT)

U.S. Bankruptcy Court grants TLC Vision relief requested in its "First Day Motions"
TLC Vision Corporation, North America's premier eye care services company, today announced that further to its press release issued on December 21, 2009, the United States Bankruptcy Court for the District of Delaware has granted the relief the Company and two of its wholly-owned subsidiaries, TLC Vision (USA) Corporation and TLC Management Services Inc., requested in its "First Day Motions ... (Thu, 24 Dec 2009 08:29:21 GMT)

Large Japanese Lender Sidesteps Bankruptcy
Aiful , Japan’s third-largest consumer lender by assets, said it won approval from creditors for a debt restructuring plan that will enable it to avoid bankruptcy, Bloomberg News reported. (Thu, 24 Dec 2009 08:41:10 GMT)

Retail center developer files for bankruptcy
Work has stopped on the nearly 99,000-square-foot shell of a shopping center at 600 Milwaukee Ave., after developer Central Park Development LLC filed Dec. 14 for Chapter 11 bankruptcy protection. The move came as a surprise to Glenview officials, who monitor progress of commercial developments don't typically follow private financing, Mary Bak, the village's development director, said. (Thu, 24 Dec 2009 11:03:11 GMT)

Joe Kimmel, Asheville firm file for bankruptcy
ASHEVILLE — Joe Kimmel, one of Western North Carolina's most prominent philanthropists, and a company that bears his name both filed for bankruptcy Wednesday. (Thu, 24 Dec 2009 12:59:59 GMT)

(AFX UK Focus) 2009-12-24 15:02 Black Gaming to restructure debt under bankruptcy
Dec 24 (Reuters) - Gaming and entertainment company Black Gaming LLC said it had reached a deal with its lenders to restructure its debt and that it would file a pre-negotiated bankruptcy petition to implement the plan. Under the proposed deal, Chief Executive Robert Black, Chief Operating Officer Anthony Toti and others will contribute cash in excess of $17 million in exchange for a minimum of ... (Thu, 24 Dec 2009 15:27:28 GMT)

Palm Beach Princess casino ship files for bankruptcy reorganization
Palm Beach Princess casino ship files for bankruptcy reorganization (Thu, 24 Dec 2009 19:51:03 GMT)

Black Gaming filing for bankruptcy reorganization
A casino company with three properties near Nevada's eastern border with Arizona says it is filing for federal bankruptcy protection. Black Gaming LLC said Wednesday that its Chapter 11 plan would give company control to an investment group. Creditors have... Nevada - Chapter 11 Title 11 United States Code - Casino - Law - United States (Thu, 24 Dec 2009 22:24:50 GMT)

Black Gaming filing for bankruptcy reorganization
A casino company with three properties near Nevada's eastern border with Arizona says it is filing for federal bankruptcy protection. (Thu, 24 Dec 2009 22:34:42 GMT)

Ensnared in Pasco Hernando workforce board case, Optima HVAC files for bankruptcy
Optima HVAC, involved in a flap over a workforce board program, files for bankruptcy. (Thu, 24 Dec 2009 23:23:42 GMT)

Aiful escapes bankruptcy
Aiful Corp, Japan's third-largest consumer lender by assets, won approval from creditors for a debt-restructuring plan that will enable it to avoid bankruptcy. Kyoto-based Aiful met 65 creditors in Tokyo yesterday who all agreed to allow it to delay payments on 280 billion yen ($3.1 billion) of loans, the company said in a stock exchange filing, in which it also announced plans to cut about 2 ... (Fri, 25 Dec 2009 03:04:29 GMT)

Asheville's Kimmel bankruptcy news puts projects in doubt
ASHEVILLE — Officials with two Western North Carolina universities pledged millions by one of the region's biggest philanthropists expressed concern over his bankruptcy filing but did not address whether it would change ongoing projects. (Fri, 25 Dec 2009 06:01:02 GMT)

Renaissance Homes says it willbe back from bankruptcy Jan. 1
Renaissance Homes announced Friday that it would be emerging from bankruptcy after the U.S. Bankruptcy Court of Oregon approved its reorganization plan. According to a release from the Lake Oswego company, the effective emergence date will likely be Jan. 1. The company, which operates around the ... (Fri, 25 Dec 2009 08:04:57 GMT)

Asheville's Kimmel bankruptcy news puts projects in doubt
ASHEVILLE — Officials with two Western North Carolina universities pledged millions by one of the region's biggest philanthropists expressed concern over his bankruptcy filing but did not address whether it would change ongoing projects. (Fri, 25 Dec 2009 19:44:22 GMT)

Palm Beach Princess casino ship files for bankruptcy reorganization
The beleaguered Palm Beach Princess is back in bankruptcy, a sign that financial troubles stemming from the recent failure of the casino ship's main engine are not letting up. (Sat, 26 Dec 2009 03:07:19 GMT)

Is bankruptcy fraud a safe bet?
WASHINGTON -- U.S. authorities prosecuted the fewest number of people and companies for criminal bankruptcy fraud this year since at least 1986, even as filings rose amid the worst economic crisis since the Great Depression. (Sat, 26 Dec 2009 06:38:40 GMT)

CIT Group wins approval of plan to exit bankruptcy
CIT Group Inc., the 101-year-old commercial lender, won court approval of a plan to cancel old shares, shed debt and exit bankruptcy court protection with new stock worth as much $11 billion. (Sat, 26 Dec 2009 17:32:01 GMT)

CIT shares jump in first trading after bankruptcy
NEW YORK (AP) — Shares of CIT Group are up sharply in their first day of trading after the lender emerged from bankruptcy protection. (Sat, 26 Dec 2009 17:38:14 GMT)

Bankruptcy Attorneys Break $1000 Barrier - - www.bankruptcyattorney1.com
Bankruptcy Attorney Website, which reviews and rates bankruptcy attorneys reports that some of the top bankruptcy attorneys practicing in Delaware and Manhattan, after years of contenting themselves with mere triple-digit fees, have finally broken the $1,000-an-hour benchmark. (Sat, 26 Dec 2009 22:06:48 GMT)

Lubbock business files for bankruptcy
On Wednesday, the parent company of Caprock Winery - Caprock Wine Company- filed for bankruptcy. (Sun, 27 Dec 2009 01:03:32 GMT)

Personal bankruptcy cases continue local rise
For 14 years, the single mother of three had hung on to a stable job, even in a sour economy. But when the restaurant where she worked changed ownership, her life fell apart fast. She lost her job. When her unemployment benefits ran out, she lost her house, too. The final blow: bankruptcy. (Sun, 27 Dec 2009 01:47:05 GMT)

Asarco's bid to use bankruptcy to avoid cleanup a cautionary tale
WASHINGTON -- The 562-foot smokestack still casts a long shadow. For nearly a century it emitted (Sun, 27 Dec 2009 09:54:44 GMT)

Bankruptcy attorney: Hoping for recovery, but recession's lessons will be forgotten
We’re definitely going to see more bankruptcies in the next year or two and then it will taper off. I don’t think we have finished the bad news when it comes to commercial property. You’re going to have a lot fewer people standing at the end of this cycle. (Sun, 27 Dec 2009 10:13:08 GMT)

Japan Airlines rescue may include bankruptcy
The government-affiliated body charged with the rescue of struggling carrier Japan Airlines has proposed a rehabilitation plan that includes possible bankruptcy proceedings, according to a Nikkei report. (Mon, 28 Dec 2009 00:10:29 GMT)

JAL Rehabilitation Plan Includes Bankruptcy Option, Nikkei Says
Dec. 28 (Bloomberg) -- Japan Airlines Corp.’s rehabilitation plan proposed by a state-affiliated agency includes the possibility of bankruptcy, Nikkei English News reported, citing an unidentified source familiar with the matter. (Mon, 28 Dec 2009 01:15:27 GMT)

JAL Rehabilitation Plan Includes Bankruptcy Option, Nikkei Says
Dec. 28 (Bloomberg) -- Japan Airlines Corp. , Asia’s biggest carrier by sales, may seek bankruptcy reorganization as one of the options in a turnaround plan proposed by a state-affiliated agency, Nikkei English News said. (Mon, 28 Dec 2009 01:26:04 GMT)

Aiful Rises in Tokyo After Debt Agreement to Avoid Bankruptcy
Aiful Corp. rose in Tokyo, adding to last week’s 35 percent gain, after Japan’s third-largest consumer lender reached an agreement with creditors that will help it avoid bankruptcy. (Mon, 28 Dec 2009 05:47:52 GMT)

JAL Plan Includes Bankruptcy Option, Nikkei Says (Update1)
Dec. 28 (Bloomberg) -- Japan Airlines Corp. , Asia’s biggest carrier by sales, may seek bankruptcy proceedings among its options in a turnaround plan proposed by a state-affiliated agency, Nikkei English News said. (Mon, 28 Dec 2009 08:00:25 GMT)

Ailing JAL faces bankruptcy option: report
A state-backed turnaround body overseeing Japan Airlines' restructuring is considering bankruptcy as one option for the cash-strapped carrier, reports said Monday. (Mon, 28 Dec 2009 08:04:00 GMT)

JAL bankruptcy proposed as option to banks: sources
A state-backed turnaround fund may seek to put Japan Airlines Corp through bankruptcy court as part of a restructuring of the struggling carrier, two sources with knowledge of the matter said. (Mon, 28 Dec 2009 08:50:09 GMT)

JAL bankruptcy proposed as option to banks
TOKYO - Bankruptcy has been proposed by a state-backed fund as an option in the restructuring of Japan Airlines Corp, two sources familiar with the matter said. (Mon, 28 Dec 2009 09:09:08 GMT)

Palm Beach Princess owner expected in bankruptcy court today, Web site down
Palm Beach Princess owner expected in bankruptcy court today, Web site down (Mon, 28 Dec 2009 13:19:02 GMT)

JAL bankruptcy proposed as option to banks (Business Times
TOKYO: A state-backed turnaround fund may seek to put Japan Airlines Corp (JAL) through bankruptcy court as part of a restructuring of the struggling carrier, two sources with knowledge of the matter said. JAL applied in October to the Enterprise Turnaround Initiative Corp of Japan, a fund established this year to help revive firms with state-guaranteed loans. The ETIC will decide whether to ... (Mon, 28 Dec 2009 15:55:24 GMT)

Pilgrim's Pride exits bankruptcy under JBS deal
U.S. chicken producer Pilgrim's Pride Corp said on Monday it has emerged from bankruptcy protection, just over a year after beginning the process. (Mon, 28 Dec 2009 20:55:23 GMT)

JAL shares tumble as bankruptcy worries mount
Shares of Japan Airlines Corp (9205.T) fell 9.4 percent on Tuesday on growing concerns the struggling carrier could be put through bankruptcy court as part of a state bailout. (Tue, 29 Dec 2009 02:10:50 GMT)

Pilgrim's Pride exits bankruptcy protection
Chicken producer Pilgrim's Pride Corp. said Monday that it has emerged from bankruptcy protection and will soon be part of the world's largest meat producer. (Tue, 29 Dec 2009 03:26:23 GMT)

JAL shares touch record low on bankruptcy worries
Shares of Japan Airlines Corp (9205.T) fell as much as 11 percent to renew a record low on Tuesday as investor worries mount the carrier will be restructured in bankruptcy court as part of a state bailout. (Tue, 29 Dec 2009 04:48:11 GMT)

Japan Airlines Declines After Bankruptcy Reports (Update2)
Dec. 29 (Bloomberg) -- Japan Airlines Corp. , Asia’s biggest carrier by sales, fell the most in five weeks after reports said a state-affiliated agency may seek bankruptcy for the unprofitable company. (Tue, 29 Dec 2009 07:30:10 GMT)

JAL shares retest record low on bankruptcy worries
Shares of Japan Airlines Corp (9205.T) fell as much as 11 percent and revisited a record low on Tuesday as investor worries mounted the carrier will be restructured in bankruptcy court. (Tue, 29 Dec 2009 10:16:12 GMT)

Pilgrim's Pride Exits Bankruptcy Protection
Pilgrim's Pride was the country's largest chicken producer until it filed for bankruptcy last year. The 63-year-old company has emerged from bankruptcy much leaner than before. Under a court-approved reorganization plan, Pilgrim's Pride is selling a 64 percent stake in the company, worth $800 million, to Brazilian beef giant JBS. (Tue, 29 Dec 2009 10:59:09 GMT)

Which bankruptcy: Chapter 7 or Chapter 13?
To make the best decision about which form of bankruptcy to file, first gather this information. (Tue, 29 Dec 2009 11:00:00 GMT)

10 ways to dodge bankruptcy in 2010
Try one or more of these strategies to lower your debt, live frugally and skirt bankruptcy. (Tue, 29 Dec 2009 11:00:00 GMT)

Pilgrim's Pride reaches deal on its bankruptcy
Pilgrim's Pride Corp. announced Monday that it has emerged from Chapter 11 bankruptcy protection after a 13-month restructuring process. (Tue, 29 Dec 2009 14:17:28 GMT)

California City Eyes Tax Vote, Bond Freeze to Escape Bankruptcy
Dec. 30 (Bloomberg) -- Vallejo, California, may increase taxes, freeze bond payments and cut deeper into spending to emerge from the biggest bankruptcy in the state since Orange County’s collapse in 1994. (Wed, 30 Dec 2009 05:01:00 GMT)

Japan Air Bankruptcy Fears Sink Shares
Japan Airlines shares fell 24% Wednesday on reports the struggling airline is studying a bankruptcy-protection filing. (Wed, 30 Dec 2009 07:25:34 GMT)

Japan Airlines shares dive on bankruptcy fears
Fears deepened Wednesday about the future of debt-ridden Japan Airlines as shares in Asia's biggest carrier plunged to a record low on fears it might file for bankruptcy, dealers said. (Wed, 30 Dec 2009 10:34:47 GMT)

JAL shares dive to record low on bankruptcy fears
Shares of struggling Japan Airlines Corp. nosedived to a record low Wednesday on growing fears the money-losing carrier could be put through bankruptcy court as part of restructuring. Asia's biggest airline, known as JAL, closed down 24 percent at 67 yen on... Japan Airlines - Airline - Asia - Bankruptcy - JAL (Wed, 30 Dec 2009 12:09:49 GMT)

Japan Airlines' Shares Plunge to Record Low on Bankruptcy Concerns
Japan Airlines Corp stock tumbled as much as 32 percent to a record low on Wednesday on growing expectations the struggling carrier was headed for bankruptcy under a state restructuring plan. (Wed, 30 Dec 2009 13:26:03 GMT)

Japan Air Plunges to Record on Bankruptcy Speculation (Update4)
Dec. 30 (Bloomberg) -- Japan Airlines Corp. plunged to a record in Tokyo trading on speculation the company may seek bankruptcy, even as the nation’s transport minister said other options remain for the unprofitable carrier. (Wed, 30 Dec 2009 13:59:40 GMT)

JAL shares dive to record low on bankruptcy fears
Shares of struggling Japan Airlines Corp. nosedived to a record low Wednesday on growing fears the money-losing carrier could be put through bankruptcy court as part of restructuring. (Wed, 30 Dec 2009 14:59:31 GMT)

Palm Beach Princess crew pay among issues to be aired at bankruptcy court hearing today
Palm Beach Princess crew pay among issues to be aired at bankruptcy court hearing today (Wed, 30 Dec 2009 15:59:02 GMT)

Brown's Chicken files for bankruptcy
Brown's Chicken & Pasta Inc. of Elmhurst filed for Chapter 11 bankruptcy Tuesday, becoming the latest casualty of a restaurant industry downturn. Neither a company representative nor the bankruptcy lawyer could be reached for immediate comment, but the bankruptcy petition in the U.S. Bankruptcy Court in the Northern District of Illinois listed the debtor's address at 489 W. Fullerton, the same ... (Wed, 30 Dec 2009 16:37:47 GMT)

Portsmouth May Face Bankruptcy as Tax Hearing Date Is Set
Dec. 30 (Bloomberg) -- English soccer team Portsmouth may face bankruptcy after the U.K. government started legal proceedings over taxes it owes. (Wed, 30 Dec 2009 16:58:21 GMT)

Neb. ethanol plant draws $30M at bankruptcy sale
A 44 million-gallon ethanol plant in south-central Nebraska attracted more than $30 million in a bankruptcy auction. (Wed, 30 Dec 2009 18:49:10 GMT)

Japan Airline shares dive on bankruptcy fears
TOKYO: Fears deepened yesterday about the future of debt-ridden Japan Airlines as shares in Asia’s biggest carrier plunged to a record low on fears it might file for bankruptcy, dealers said. (Thu, 31 Dec 2009 07:27:40 GMT)

Colonial BancGroup limps through bankruptcy
As of last month, Colonial BancGroup had three employees and a negative net worth of $321 million. The company's monthly bankruptcy reports shed at least a little light on the company that once owned Colonial Bank. (Thu, 31 Dec 2009 10:05:03 GMT)

Brown's vows to emerge from bankruptcy
The Brown's Chicken chain filed for Chapter 11 bankruptcy Tuesday in federal court in Chicago. Franchisees said they were nervous about how suppliers and customerswould react to the news, but a Brown's executive vowed the restaurantchain would be able to successfully emerge from a bankruptcyreorganization. (Thu, 31 Dec 2009 11:46:23 GMT)

YRC Worldwide completes debt-equity swap, considered key step in averting bankruptcy filing
OVERLAND PARK, Kan. - YRC Worldwide Inc., one of the nation's largest trucking companies, said Thursday it has successfully completed a debt exchange with its bondholders, helping to avert a bankruptcy filing. (Thu, 31 Dec 2009 14:03:12 GMT)

Brown's Chicken files for Chapter 11 bankruptcy
A chain of chicken restaurants that made national headlines in 1993 when seven employees at one of its suburban Chicago stores were killed has filed for Chapter 11 bankruptcy protection. (Thu, 31 Dec 2009 14:14:58 GMT)

Brown's Chicken files for Chapter 11 bankruptcy
A chain of chicken restaurants that made national headlines in 1993 when seven employees at one of its suburban Chicago stores were killed has filed for Chapter 11 bankruptcy protection. Brown's Chicken & Pasta Inc. filed on Tuesday _ two months after a... Chapter 11 Title 11 United States Code - Chicago - Chicken - Law - Brown's Chicken & Pasta (Thu, 31 Dec 2009 14:40:09 GMT)

Dispute drives Brown's Chicken into bankruptcy
A nasty dispute between co-owners of Brown's Chicken & Pasta of Elmhurst has prompted the restaurant company to file for Chapter 11 bankruptcy protection. After a DuPage County judge issued a ruling in favor of Brown's 37-year former vice president and minority owner, Thomas Kennefick, Brown's President Toni Portillo said the company had no choice but to file for bankruptcy because it cannot ... (Thu, 31 Dec 2009 15:44:52 GMT)

Spansion plans to emerge from bankruptcy in Q1
NOR flash vendor Spansion said it plans to emerge from bankruptcy early in 2010 after posting a GAAP net income of $1.5 million for the quarter ended Sept. 27, despite declining sales. Net income - Generally Accepted Accounting Principles - Bankruptcy - Spansion - Services (Thu, 31 Dec 2009 18:57:41 GMT)

Spansion plans to emerge from bankruptcy in Q1
NOR flash vendor Spansion said it plans to emerge from bankruptcy early in 2010 after posting a GAAP net income of $1.5 million for the quarter ended Sept. 27, despite declining sales. (Thu, 31 Dec 2009 19:08:31 GMT)

Trustee files complaint in Xyience energy drink bankruptcy case
Fraudulent transfer and breach of fiduciary duty claims have been leveled against companies and individuals associated with the Xyience Inc. energy drink bankruptcy case, charging they left the Las Vegas company with no assets and tens of millions of dollars of unpaid debts. (Thu, 31 Dec 2009 23:41:38 GMT)

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