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Home > Bankruptcy News

Bankruptcy News Feb 2010

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2009 Bankruptcy filings up more than 50 percent in Midland
A weaker economy and falling oil prices meant bankruptcy filings in the Midland Division were up by about 53 percent from 2008 to 2009, according to records from the U.S. Bankruptcy Court. (Mon, 01 Feb 2010 06:15:02 GMT)

FairPoint bankruptcy plan expected today
After much delay FairPoint Communications is expected to file its bankruptcy reorganization plan today. (Mon, 01 Feb 2010 10:17:30 GMT)

Exit Facilities in Bankruptcy
By Hunter. When a company is in the process of planning its bankruptcy exit, discussions on how the company will raise capital to fund administrative and DIP claims (among many others) begin to be heard in the market. Will the company do a bond offering? What about a rights offering? All this will be stipulated in a company's disclosure statement and bankruptcy plan. Read more » » (Mon, 01 Feb 2010 13:42:33 GMT)

Bankruptcy Looms for Bulgaria Academy of Sciences
The Bulgarian Academy of Sciences (BAS) is near bankruptcy, the BAS Chair Nikola Sabotinov said Monday. Sabotinov announced that the Academy can afford to pay their electric and heating bills only for February and the money has been collected through BAS own savings. (Mon, 01 Feb 2010 14:20:55 GMT)

Reader's Digest to delay bankruptcy emergence
Reader's Digest Association Inc said on Monday it would delay its emergence from bankruptcy after Britain's pension regulator said it would not approve the publisher's agreement with pension fund trustees regarding a British pension fund deficit. (Mon, 01 Feb 2010 14:39:00 GMT)

Crescent files bankruptcy exit plan
Crescent Resources, one of Charlotte’s leading developers, said today it has filed a reorganization plan to lead it out of bankruptcy by summer. (Mon, 01 Feb 2010 14:51:14 GMT)

(AFX UK Focus) 2010-02-01 14:42 Reader's Digest to delay bankruptcy emergence
NEW YORK, Feb 1 (Reuters) - Reader's Digest Association Inc said on Monday it would delay its emergence from bankruptcy after Britain's pension regulator said it would not approve the publisher's agreement with pension fund trustees regarding a British pension fund deficit. The British arm of Reader's Digest in January reached an agreement with the trustees of its and the UK Pension Protection ... (Mon, 01 Feb 2010 14:56:52 GMT)

Is reaffirming card debt during bankruptcy wise?
When filing for bankruptcy, a reader want to reaffirm credit card debt, with the hope of still being able to use the card. Chances are slim the card will still be usable. (Mon, 01 Feb 2010 15:03:04 GMT)

R.H. Donnelley emerges from bankruptcy with new name – Dex One
Get the latest news alerts: Follow LTW at Twitter. CARY, N.C. – Yellow pages and interactive advertising firm R.H. Donnelley takes on a new name, Dex One , and a new stock symbol on the New York Stock Exchange after successfully emerging from bankruptcy. (Mon, 01 Feb 2010 15:04:18 GMT)

Zale Next Retail Bankruptcy: Poll Predicts
Zale is the most likely retailer to file for bankruptcy in the next 12 months, according to a poll of users of TheStreet. (Mon, 01 Feb 2010 15:11:55 GMT)

Home Valu pushed into bankruptcy by suppliers
Three suppliers owed nearly $500,000 by Home Valu Interiors have moved to force the failed home remodeling company into bankruptcy. In an involuntary bankruptcy petition filed Friday in U.S. Bankrupt... (Tue, 02 Feb 2010 05:09:28 GMT)

FairPoint delays filing Ch. 11 bankruptcy plan
PORTLAND, Maine (AP) — For the third time since December, FairPoint Communications is pushing back the date for when it will submit its bankruptcy reorganization plan. ... - TIMES ARGUS STAFF TIMES ARGUS STAFF (Tue, 02 Feb 2010 08:11:03 GMT)

Business Briefs: Crescent Resources to emerge from bankruptcy
Crescent Resources said that the company and certain subsidiaries have filed a plan of reorganization with a Texas court and that they expect to emerge from bankruptcy early in the second quarter. (Tue, 02 Feb 2010 08:49:21 GMT)

Bankruptcy filings rise 4% in Toledo area for January
BLADE STAFF January bankruptcy filings in northwest Ohio rose 4 percent over the same month a year ago, reaching their highest level since bankruptcy reforms were enacted in 2005. There were 482 bankruptcy petitions filed last month for the 21 counties covered by the U.S. Bankruptcy Court in Toledo. That’s up from 462 filings for January, 2009, but a decrease from the 602 cases filed for the ... (Tue, 02 Feb 2010 11:09:55 GMT)

Fairpoint yet to file plan for bankruptcy
PORTLAND, Maine (AP) - For the third time since December, FairPoint Communications is pushing back the date for when it will submit its bankruptcy reorganization plan. The company says it won't be filing its reorganization plan in U.S. Bankruptcy Court in New York as planned on Monday. (Tue, 02 Feb 2010 11:29:44 GMT)

Bankruptcy better than waiting out debt
Dear Bankruptcy Adviser, I had great credit for years. After a bitter divorce, I was left with nothing. I lived on credit cards and a small amount of savings, making minimum payments as long as I could. I finally stopped paying them about two years ago when my savings were gone. (Tue, 02 Feb 2010 11:36:59 GMT)

FairPoint Changes Bankruptcy Date
For the third time since December, FairPoint Communications is pushing back the date for when it will submit its bankruptcy reorganization plan. The company was supposed to file in U.S. Bankruptcy Court on Monday. But FairPoint says it needs more time to complete negotiations with lenders, un . . . (Tue, 02 Feb 2010 12:38:51 GMT)

Crescent has exit plan on bankruptcy: Developer seeks OK to shed debt, partly repay creditors
Feb. 2--Crescent Resources, one of Charlotte's biggest developers, has filed a bankruptcy reorganization plan that would shave about $1 billion from its secured debt. (Tue, 02 Feb 2010 13:20:06 GMT)

Ironbridge affordable housing released from bankruptcy
GLENWOOD SPRINGS, Colorado - Four affordable housing units at the Ironbridge subdivision are back under contract, and an open house is planned for this Saturday to market eight additional units that have been tied up in bankruptcy for the past year. "It's been a long wait," said Brenda Buchanan of Carbondale, who plans to move into one of the deed-restricted Ironbridge units with her 12-year-old ... (Tue, 02 Feb 2010 14:16:07 GMT)

Miell may not get bankruptcy discharge
Landlord Robert Miell of Cedar Rapids will be denied a discharge of his debts in bankruptcy if a federal trustee has his way. Miell failed to disclose many of his assets when he filed for Chapter 11 bankruptcy protection last year, U.S. Bankruptcy Trustee Habbo Fokkena said in a motion filed in U.S. Bankruptcy Court here. Miell [...] (Tue, 02 Feb 2010 14:59:30 GMT)

Clayton hotel project files for bankruptcy
The future of the proposed Westin Hotel in Clayton grew cloudy Tuesday when the developer filed for bankruptcy protection. (Wed, 03 Feb 2010 11:52:14 GMT)

Blockbuster Rival Files for Bankruptcy
Movie Gallery files for bankruptcy and says it will shutter stores. (Wed, 03 Feb 2010 13:25:44 GMT)

Movie Gallery files bankruptcy, to shut many stores
Movie Gallery Inc, the operator of Hollywood Video stores, has filed for Chapter 11 bankruptcy and plans to close a "significant number" of its roughly 2,600 stores in the United States and Canada. (Wed, 03 Feb 2010 14:02:52 GMT)

Experts: Bankruptcy not automatic fix for hospitals
In the current economic climate, one bad decision can set off a chain reaction toward bankruptcy, health care experts say. (Wed, 03 Feb 2010 14:17:18 GMT)

Movie Gallery files bankruptcy, to shut 805 stores
Movie Gallery Inc, the operator of the Hollywood Video rental chain, plans to close 805 poorly performing U.S. stores after falling sales and mounting losses led to its second bankruptcy in three years. (Wed, 03 Feb 2010 15:22:37 GMT)

Movie Gallery Files for Bankruptcy Court Protection (Update1)
Feb. 3 (Bloomberg) -- Movie Gallery Inc. , the second- largest North American video-rental chain, filed for bankruptcy protection for the second time since 2007. (Wed, 03 Feb 2010 15:41:25 GMT)

Movie Gallery Files for Bankruptcy Court Protection (Update2)
Feb. 3 (Bloomberg) -- Movie Gallery Inc. , the second- largest North American video-rental chain, filed for bankruptcy protection for the second time since 2007, saying it plans to close “a significant number” of stores. (Wed, 03 Feb 2010 16:00:35 GMT)

Movie Gallery files for bankruptcy—again
Movie Gallery Inc., owner of the Movie Gallery and Hollywood Video, for bankruptcy protection in Richmond. This is the second time the movie rental chain has turned to the U.S. Bankruptcy Court here. The first was in 2007. In court papers filed yesterday, the chain cited challenging industry conditions and competition from cable providers, Netflix, Redbox as well as other brink and mortar ... (Wed, 03 Feb 2010 16:22:23 GMT)

Congress passes bill on bankruptcy framework
AFTER 10 YEARS IN THE legislative mill, the Philippines has adopted a modern bankruptcy framework aiming for a faster and more orderly rehabilitation or liquidation of financially distressed companies and individuals. (Wed, 03 Feb 2010 16:27:46 GMT)

Movie Gallery files bankruptcy, to shut many stores
NEW YORK (Reuters) - Movie Gallery Inc, the operator of Hollywood Video stores, has filed for Chapter 11 bankruptcy and plans to close a "significant number" of its roughly 2,600 stores in the United ... (Wed, 03 Feb 2010 16:29:03 GMT)

Movie Gallery files bankruptcy, to shut 805 stores
Movie Gallery Inc, operator of the Hollywood Video rental chain, filed for bankruptcy for the second time in three years after sales fell and losses mounted, and said it would close 805 U.S. stores. (Wed, 03 Feb 2010 18:00:43 GMT)

Movie Gallery files bankruptcy protection again
Movie Gallery, owner of the Hollywood Video movie rental chain, has filed for bankruptcy protection and plans to close a third of its stores. (Thu, 04 Feb 2010 01:28:08 GMT)

Zayat Stables, 2008's earnings leader, files for bankruptcy
Prominent racehorse owner Ahmed Zayat has filed for Chapter 11 bankruptcy protection in New Jersey. (Thu, 04 Feb 2010 02:56:17 GMT)

Pennsylvania State Capital Mulls Bankruptcy as a Budget Option
Feb. 4 (Bloomberg) -- Harrisburg, the capital of Pennsylvania, will consider Chapter 9 bankruptcy protection along with tax increases and asset sales as options to address $68 million in debt service payments due this year, the chairwoman of a City Council committee said last night. (Thu, 04 Feb 2010 05:00:01 GMT)

Movie Gallery Files for Bankruptcy
Movie Gallery , the operator of the Hollywood Video rental chain, plans to close 805 poorly performing U.S. stores after falling sales and mounting losses led to its second bankruptcy in three years, Reuters reported. (Thu, 04 Feb 2010 11:11:07 GMT)

Spheris files for bankruptcy, plans sale
Franklin-based Spheris Inc. filed for Chapter 11 bankruptcy protection in a federal court in Delaware Wednesday, but said it may sell its domestic operations to a New Jersey-based rival in the medical transcription field. (Thu, 04 Feb 2010 12:33:50 GMT)

Owner of Neenah Foundry files for bankruptcy
NEENAH — Neenah Enterprises Inc., owner of Neenah Foundry, which employs about 800 here, filed for Chapter 11 bankruptcy Wednesday. (Thu, 04 Feb 2010 16:17:34 GMT)

Oregon-based Movie Gallery files for Ch 11 bankruptcy
NEW YORK (AP) -- Movie Gallery Inc. has filed for Chapter 11 protection and plans to close 805 stores -- about a third of its total. Its the second trip through bankruptcy court in just three years for the owner of the Hollywood Video movie rental chain. The Wilsonville, Ore.-based company is struggling with competition as more people choose to stream videos online from Netflix and other ... (Thu, 04 Feb 2010 16:20:27 GMT)

Movie Gallery to continue operating in bankruptcy
Movie Gallery Inc., owner of struggling movie rental chain Hollywood Video, said Wednesday it will continue to operate while the company is in bankruptcy. (Thu, 04 Feb 2010 16:26:11 GMT)

Wisconsin foundry files for bankruptcy protection
WILMINGTON, Del. — Neenah Enterprises, one of the largest independent foundry companies in the country, has filed for Chapter 11 bankruptcy protection in Delaware. (Thu, 04 Feb 2010 16:33:58 GMT)

Century-old foundry seeks bankruptcy protection
Neenah Enterprises, one of the largest independent foundries in the country, is filing for Chapter 11 bankruptcy protection. (Thu, 04 Feb 2010 17:04:40 GMT)

Hedge funds, bankruptcy judges spar over disclosure
Hedge funds will defend their coveted secrecy against bankruptcy judges who want more information about their economic interests before granting them an active role in Chapter 11 reorganizations. (Thu, 04 Feb 2010 22:10:05 GMT)

BTA, Second-Biggest Kazakh Bank, Files for Bankruptcy in U.S.
Feb. 5 (Bloomberg) -- BTA Bank , Kazakhstan’s second-largest lender by assets, filed for bankruptcy protection to shield itself from U.S. creditors as it restructures about $11.6 billion in debt. (Fri, 05 Feb 2010 06:05:38 GMT)

McGrath's files for bankruptcy
McGrath's Fish House, a Salem-based restaurant chain with 20 locations, has filed a Chapter 11 bankruptcy. (Fri, 05 Feb 2010 11:22:40 GMT)

State Rep. Joe Bertram declares bankruptcy
State Rep. Joe Bertram is declaring bankruptcy because he says he can't afford medical expenses from an illness that hospitalized him last year. (Fri, 05 Feb 2010 12:05:00 GMT)

Mounting medical fees force lawmaker into bankruptcy
State Rep. Joe Bertram is declaring bankruptcy because he says he can't afford medical expenses from an illness that hospitalized him last year, the Maui News reported. The Maui Democrat says in his Jan. 28 bankruptcy filing that he owes more than $51,000 to creditors and has only $1,600 in assets. (Fri, 05 Feb 2010 12:12:08 GMT)

Kazakh lender BTA Bank files U.S. bankruptcy
NEW YORK (Reuters) - BTA Bank , the second-largest bank in Kazakhstan, sought bankruptcy protection in the United States to protect itself from U.S. creditors while it restructures $11.6 billion of debt at home. (Fri, 05 Feb 2010 14:54:44 GMT)

Kazakh lender BTA Bank files U.S. bankruptcy
BTA Bank , the second-largest bank in Kazakhstan, sought bankruptcy protection in the United States to protect itself from U.S. creditors while it restructures $11.6 billion of debt at home. (Fri, 05 Feb 2010 15:04:42 GMT)

Kazakh lender BTA Bank files U.S. bankruptcy
NEW YORK (Reuters) - BTA Bank , the second-largest bank in Kazakhstan, sought bankruptcy protection in the United States to protect itself from U.S. creditors while it restructures $11.6 billion of debt at home. (Fri, 05 Feb 2010 15:04:42 GMT)

Bankruptcy Rule May Chill Investing, Lawyer Says (Update1)
Feb. 5 (Bloomberg) -- A bankruptcy rule that forces hedge funds to disclose information about their trading might chill investing in companies that are reorganizing, attorney Jon Kibbe said at a public hearing. (Fri, 05 Feb 2010 18:41:16 GMT)

Federal Judge Says Rules Needed To Bar Bankruptcy Failure Bets
Feb. 5 (Bloomberg) -- Proposed changes to a provision in bankruptcy law could stop hedge funds from betting on the failure of Chapter 11 reorganizations, a federal judge said, opposing the stance of distressed-asset investors. (Fri, 05 Feb 2010 20:11:11 GMT)

Pennsylvania Capital Harrisburg Has Bankruptcy Option (Update1)
Harrisburg, the capital of Pennsylvania, will consider Chapter 9 bankruptcy protection along with tax increases and asset sales as options to address $68 million in debt service payments due this year, the chairwoman of a City Council committee said last night. (Fri, 05 Feb 2010 23:43:09 GMT)

Bashas' bankruptcy exit may come soon
Associated Press TUCSON — Arizona grocery chain Bashas’ Inc. could emerge from bankruptcy in April if a judge approves its reorganization plan. (Sat, 06 Feb 2010 06:36:11 GMT)

Movie Gallery declares Chapter 11 Bankruptcy, area locations to close
POINT PLEASANT — Movie enthusiasts will soon need to seek other means of renting the latest DVD or Blu-Ray films. Movie Gallery, Inc., filed Chapter 11 bankruptcy on Wednesday. The Wilsonville, Or... (Sat, 06 Feb 2010 06:58:30 GMT)

Owner of Hollywood Video files for bankruptcy court protection
Movie Gallery Inc., the second- largest North American video-rental chain, filed for bankruptcy protection for the second time since 2007, saying it plans to close "a significant number" of stores. (Sat, 06 Feb 2010 07:39:40 GMT)

Preferred Financial Services Earns Accreditation From U.S. Organizations for Bankruptcy Alternatives (USOBA)
Consumers need to be aware that many ‘fly-by-night’ debt reduction firms have popped up on the scene. To avoid getting tied-up with one of these unscrupulous firms, consumers should work only with firms that are accredited by the United States Organizations for Bankruptcy Alternatives (U.S.O.B.A.) (Sat, 06 Feb 2010 13:05:00 GMT)

Preferred Financial Services Earns Accreditation From U.S. Organizations for Bankruptcy Alternatives (USOBA)
Consumers need to be aware that many ‘fly-by-night’ debt reduction firms have popped up on the scene. To avoid getting tied-up with one of these unscrupulous firms, consumers should work only with firms that are accredited by the United States Organizations for Bankruptcy Alternatives (U.S.O.B.A.) (PRWeb Feb 6, 2010) Read the full story at http://www.prweb.com/releases/pr ... (Sat, 06 Feb 2010 14:21:06 GMT)

The Columbian emerges from Chapter 11 bankruptcy in Vancouver
A judge approves a reorganization plan, allowing the 120-year-old newspaper to emerge from Chapter 11 bankruptcy after nine months of negotiations with its creditors. (Sat, 06 Feb 2010 16:59:55 GMT)

Bankruptcy filings in U.S. grow 21%
BLOOMBERG WASHINGTON - U.S. bankruptcy filings rose 21 percent in January from a year earlier, to a total of about 102,000, according to statistics compiled from court records by Automated Access to Court Electronic Records. Filings were up 1 percent from December. Nevada led the country in per capita filings, followed by Georgia, Tennessee, Alabama, and Michigan. Including individuals, total U ... (Sun, 07 Feb 2010 09:40:43 GMT)

Clerk: Colony was close to bankruptcy
According to town clerk Kristie Williams, the town of Colony came close to bankruptcy.   (Sun, 07 Feb 2010 13:12:01 GMT)

Faces of the Recession: Bankruptcy attorney helps people through the bad times
While the country struggles with its finances, the gorilla in the room grows bigger. Wall Street takes its bailouts and companies struggle to refinance loans, and the average Joe in more cases than ever is turning to bankruptcy to make it through these tough times. Personal and business bankruptcy filings are soaring nationwide, and growing locally, rivaling the nationwide push to beat ... (Sun, 07 Feb 2010 16:13:02 GMT)

CIT, emerging from bankruptcy, hires Thain as CEO
CIT Group Inc has hired former Merrill Lynch CEO John Thain as its new chief executive, the commercial lender said late on Sunday, wagering that the well-traveled executive can guide its post-bankruptcy turnaround. (Mon, 08 Feb 2010 02:07:14 GMT)

CIT, emerging from bankruptcy, hires Thain as CEO
NEW YORK (Reuters) - CIT Group Inc has hired former Merrill Lynch CEO John Thain as its new chief executive, the commercial lender said late on Sunday, wagering that the well-traveled executive can guide its post-bankruptcy turnaround. (Mon, 08 Feb 2010 02:07:14 GMT)

Looking Back: Lakey Foundry bankruptcy stuns Muskegon area
Chronicle file photoThe sprawling Lakey Foundry Corp. in downtown Muskegon has filed voluntary bankruptcy proceedings in Federal Court in Grand Rapids. The firm’s estimated 700 employees had been laid off in February 1972. The petition filed by the firm was... (Mon, 08 Feb 2010 12:54:18 GMT)

APNewsBreak: FairPoint files its bankruptcy plan
Financially troubled FairPoint Communications Inc. has submitted its bankruptcy reorganization plan after two months of delays. (Mon, 08 Feb 2010 14:03:37 GMT)

APNewsBreak: FairPoint files its bankruptcy plan
The telecommunications provider FairPoint Communications Inc. has filed its bankruptcy reorganization plan after two months of delays. (Mon, 08 Feb 2010 14:09:27 GMT)

FairPoint files its bankruptcy plan
PORTLAND, Maine - The telecommunications provider FairPoint Communications Inc. has filed its bankruptcy reorganization... (Mon, 08 Feb 2010 14:35:04 GMT)

APNewsBreak: FairPoint Files Its Bankruptcy Plan
APNewsBreak: FairPoint Communications files Chapter 11 bankruptcy reorganization plan Chapter 11 Title 11 United States Code - Law - United States - Services - Lawyers and Law Firms (Mon, 08 Feb 2010 14:40:15 GMT)

FairPoint files its bankruptcy plan
PORTLAND, Maine -- The debt load of telecommunications provider FairPoint Communications Inc. will be cut by nearly two-thirds under its bankruptcy reorganization plan. The document filed Monday … (Mon, 08 Feb 2010 15:54:18 GMT)

FairPoint bankruptcy plan keeps broadband rollout, avoids some penalty
FairPoint Communications says it will continue with the rollout of high-speed Internet service throughout New Hampshire as it emerges from bankruptcy, although there will be some delays in more rural areas. (Mon, 08 Feb 2010 16:22:27 GMT)

FairPoint files its bankruptcy plan
PORTLAND, Maine — Financially troubled FairPoint Communications Inc. has submitted its bankruptcy reorganization plan after two months of delays. The document was filed Monday in U.S. Bankruptcy Court in New York, where FairPoint filed for Chapter 11 bankruptcy in October. (Mon, 08 Feb 2010 16:56:13 GMT)

FairPoint bankruptcy plan would cut debt sharply
The telecommunications company FairPoint Communications' debt would be cut by nearly two-thirds under its bankruptcy reorganization plan filed Monday. (Mon, 08 Feb 2010 19:50:22 GMT)

Arrow Trucking bankruptcy trustee updates creditors
It will be several weeks before it’s clear whether the bankruptcy estate of Arrow Trucking Co. has enough unencumbered assets from which to distribute back pay, wages and expenses to former employees, ... (Tue, 09 Feb 2010 01:35:47 GMT)

Video chain bankruptcy closes stores in Boise, Emmett
The nation's second-largest video store chain has retreated back into bankruptcy proceedings with a plan to close 805 more stores. (Tue, 09 Feb 2010 06:14:20 GMT)

Fair Finance investors file bankruptcy court petition
Ohio-based investment company Fair Finance Co., owned by Indiana businessman Timothy S. Durham, faces a petition to force it into bankruptcy. (Tue, 09 Feb 2010 07:08:50 GMT)

UPDATE - FairPoint files its bankruptcy plan
PORTLAND, Maine - Financially troubled FairPoint Communications Inc. has submitted its bankruptcy reorganization plan after two months of delays. The document was filed this morning in U.S. Bankruptcy Court in New York, where FairPoint filed for Chapter 11 bankruptcy in October. (Tue, 09 Feb 2010 13:45:52 GMT)

Prommis® Solutions Appoints New Vice President of Bankruptcy
ATLANTA----Prommis® Solutions, LLC, a leading national provider of default processing services, announced Tina Jones as Vice President of Bankruptcy. In her new role, Jones is responsible for the vision, strategy, planning and management of Prommis’ East Coast Bankruptcy division, ensuring the highest level of operational efficiency and exceptional customer service. (Tue, 09 Feb 2010 14:16:00 GMT)

Trade Publisher Penton To File For Chapter 11 Bankruptcy
Penton, the trade publisher, has filed for Chapter 11 bankruptcy protection. The pre-packaged reorg, agreed by its lenders, will help it erase debt by $270 million. In addition, some existing shareholders will make a "significant new investment" in the company, which will provide additional working capital to fund operations and improve Penton's overall liquidity. (Tue, 09 Feb 2010 14:50:32 GMT)

Randolph CAFO files for bankruptcy
WINCHESTER — A Randolph County megadairy has filed Chapter 11 bankruptcy. (Tue, 09 Feb 2010 15:35:04 GMT)

Penton Media to File Bankruptcy to Cut Debt by $270 Million
Feb. 9 (Bloomberg) -- Penton Media Inc. , a trade-magazine publisher and Web site operator, said it will seek bankruptcy protection within days to implement a plan negotiated with lenders to cut debt by about $270 million. (Tue, 09 Feb 2010 19:26:28 GMT)

Fiorina says Calif. bankruptcy could be considered
Republican U.S. Senate candidate Carly Fiorina told a group of business leaders this week that California should not rule out filing for bankruptcy to deal with its fiscal mess. (Wed, 10 Feb 2010 02:32:33 GMT)

Fiorina says Calif. bankruptcy could be considered
Republican U.S. Senate candidate Carly Fiorina told a group of business leaders this week that California should not rule out filing for bankruptcy to deal with its fiscal mess. Declaring bankruptcy is not an option for California, however, because federal... California - Hewlett-Packard - CarlyFiorina - Republican - United States Senate (Wed, 10 Feb 2010 03:09:59 GMT)

Bankruptcy Bloodbath May Hit Muni Bond Owners Next: Joe Mysak
Public officials shouldn’t think about filing for Chapter 9 municipal bankruptcy to solve mounting labor costs and pension liabilities. (Wed, 10 Feb 2010 06:07:30 GMT)

Longtime Belleville lawyer named chief judge of federal bankruptcy court
Belleville lawyer Laura Grandy has dealt almost exclusively in bankruptcy law for the last 20 years but now she is going totally bankrupt, so to speak, as the new chief judge of the United States Bankruptcy Court, Southern District of Illinois. (Wed, 10 Feb 2010 08:06:19 GMT)

Karen Richman: Health bills will lead to bankruptcy
Dear Editor: My husband and I have health insurance and my husband was just diagnosed with AML (aggressive leukemia). By the time his treatment is complete, we will be in bankruptcy. We are upper middle class folks who have saved all of our lives. (Wed, 10 Feb 2010 10:23:48 GMT)

Carly Fiorina: California Bankruptcy 'Should Always Be Considered'
What's Your Reaction? GOP Senate candidate Carly Fiorina suggested California should consider bankruptcy. (Wed, 10 Feb 2010 12:00:22 GMT)

Blockbuster files for bankruptcy in Portugal, blames internet piracy
Don't start lining up the global dominos just yet but Blockbuster is filing for bankruptcy in Portugal. In the 90s, an era predating internet streaming and digital downloads, Blockbuster was rocking some 100 stores in Portugal. Today that number is around 27, most of which are struggling to survive . Blockbuster blames government's flaccid response to internet piracy for its insolvency. And here ... (Wed, 10 Feb 2010 12:53:53 GMT)

Penton Media Files Pre-Packaged Bankruptcy in N.Y. (Update2)
Feb. 10 (Bloomberg) -- Penton Media Inc. , acquired in February 2007 by a group including Wasserstein & Co., filed for bankruptcy protection today in a pre-packaged Chapter 11 filing, citing a need to cut its debt. (Wed, 10 Feb 2010 16:26:03 GMT)

(AFX UK Focus) 2010-02-10 15:52 Four CitiApartments affiliates file for bankruptcy
Feb 10 (Reuters) - Four real estate entities owned by San Francisco's biggest landlord, the Lembi Group, filed for Chapter 11 protection in a California bankruptcy court on Monday, according to court documents. The entities are affiliates of Lembi Group's CitiApartments Inc, the largest apartment owner in San Francisco. The four entities collectively own 16 residential properties, which were ... (Wed, 10 Feb 2010 16:27:44 GMT)

Penton Media Files Bankruptcy on Ad Sales, Debt (Update3)
Feb. 10 (Bloomberg) -- Penton Media Inc. , acquired three years ago by a group including Wasserstein & Co., filed a prepackaged bankruptcy plan, citing a drop in advertising sales and a need to cut debt. (Wed, 10 Feb 2010 18:16:05 GMT)

Personal bankruptcy filings down in January
South Florida's consumer bankruptcies in January fell 3 percent to 2,237 from 2,309 the same month a year ago, according to the bankruptcy court in Miami. (Wed, 10 Feb 2010 22:48:02 GMT)

Woman named bankruptcy judge in Southern Illinois
EAST ST. LOUIS, Ill. (AP) - Southern Illinois has its first female federal bankruptcy judge. Laura Grandy has been appointed chief judge of the U.S. Bankruptcy Court for the region. (Thu, 11 Feb 2010 01:51:03 GMT)

Gold's gym bankruptcy could leave Hawthorne on hook for $2.3M
The owners of a Hawthorne gym that received a low-interest, city-backed federal loan have filed for bankruptcy, prompting concerns that the city could be responsible for more than $2 million in debt. (Thu, 11 Feb 2010 03:48:43 GMT)

Hearing in Stanford case set over bankruptcy issue
DALLAS (AP) - Some investors allegedly defrauded by jailed Texas financier R. Allen Stanford are trying to get his businesses put into bankruptcy. U.S. District Judge David Godbey could rule on the bankruptcy issue at a federal court hearing in Dallas on Thursday. (Thu, 11 Feb 2010 09:21:15 GMT)

O.C. January bankruptcy filings hit decade high
Bankruptcy filings by Orange County individuals and businesses hit a decade high for January. (Thu, 11 Feb 2010 13:36:59 GMT)

Video stores stay open despite bankruptcy
The Movie Gallery stores in Morenci and Tecumseh and the Hollywood Video/Game Crazy store in Adrian will remain open despite the parent company filing for bankruptcy protection, according to Movie Gallery Inc.’s Web site. The company recently announced that seven stores in northwest Ohio and southeast Michigan stores would be closed within the next two months, but the Lenawee County stores will ... (Thu, 11 Feb 2010 14:36:01 GMT)

Hearing In Stanford Case Set Over Bankruptcy Issue
Some investors allegedly defrauded by jailed Texas financier R. Allen Stanford are trying to get his businesses put into bankruptcy. (Thu, 11 Feb 2010 15:29:39 GMT)

AmStar 'Nuts and Bolts' CLE Provides Attorneys with Bankruptcy Fundamentals to Meet Growing Public Demands
SARASOTA, Fla. , Feb. 11 /PRNewswire/ -- Bankruptcy cases hit Florida hard in 2009, and experts predict that 2010 will likely be another record-breaking year. South Florida alone saw a 29% increase in consumer bankruptcy filings in 2009 over the previous year, according to the Sun Sentinel. Unemployment, credit card debt and high mortgages have contributed to the spike in bankruptcies. Â The ... (Thu, 11 Feb 2010 16:11:00 GMT)

Ruling in Stanford bankruptcy case next month
A ruling on whether to place the businesses of jailed Texas financier R. Allen Stanford under bankruptcy protection will be issued next month, a federal judge said Thursday. (Thu, 11 Feb 2010 18:49:10 GMT)

Ruling Possible This Month in Stanford Bankruptcy
Possible ruling this month on whether to place Stanford businesses under bankruptcy protection Bankruptcy - United States - Law - Services - Lawyers and Law Firms (Thu, 11 Feb 2010 19:25:19 GMT)

Veoh Finally Calls it Quits: Layoffs Yesterday, Bankruptcy Filing Soon
Veoh, one of several well-funded startups that have tried and failed to cash in on the Web video boom, is finally calling it quits. The company let go of the remainder of its workforce yesterday, and sources say it plans on filing for Chapter 7 bankruptcy protection in the near future. (Thu, 11 Feb 2010 20:52:56 GMT)

Ruling possible this month in Stanford bankruptcy
A federal judge said Thursday he will try to rule this month on whether to put jailed Texas financier R. Allen Stanford's businesses under bankruptcy protection. (Thu, 11 Feb 2010 21:34:35 GMT)

Ruling Possible This Month in Stanford Bankruptcy
A federal judge said Thursday he will try to rule this month on whether to put jailed Texas financier R. Allen Stanford's businesses under bankruptcy protection. Stanford's empire was placed in the hands of a court-appointed attorney last year when he was charged with running a $7 billion Ponzi scheme. Now some of the allegedly jilted investors are asking a judge to turn the case over to a ... (Fri, 12 Feb 2010 05:10:48 GMT)

Veoh Co-Founder Confirms Bankruptcy
The co-founder of video Web site Veoh confirmed Wednesday night that the recession and legal troubles have prompted the site to file for bankruptcy. (Fri, 12 Feb 2010 09:36:45 GMT)

Bankruptcy lawyers: Scott Rothstein partners made ``fraudulent'' transactions
Two senior law partners of convicted Ponzi schemer Scott Rothstein received $18 million in ``purported loans'' from his Fort Lauderdale firm -- and then almost immediately paid out most of the money to the firm, Rothstein or others, according to allegations in new bankruptcy court filings. (Fri, 12 Feb 2010 11:52:21 GMT)

Six Flags Shows Bankruptcy Loan Demand Heading for $25 Billion
Six Flags Inc. and Smurfit-Stone Container Corp. this week became the latest companies to tap investor appetite for loans financing emergence from bankruptcy, as demand drives down borrowing costs for the neediest companies. (Fri, 12 Feb 2010 14:22:43 GMT)

Video Site Veoh Files For Bankruptcy
Online video website Veoh has announced it will be shutting down and filing for bankruptcy. Veoh launched in 2005 and its backers included Shelter Capital, Spark Capital, Michael Eisner's Tornante Company, Goldman Sachs, Time Warner, Intel Capital, Adobe, Gordon Crawford, Firefly3 and Jonnathan Dolgen. Those backers supported Veoh with $70 million in investments. Dmitry Shapiro, CEO and founder ... (Fri, 12 Feb 2010 15:07:19 GMT)

US Says Intimidation of Protesters Shows Bankruptcy of Iranian Regime
The United States says efforts by Iranian authorities to intimidate those trying to stage protests Thursday in Tehran show the increasing bankruptcy of the government there. The State Department expressed concern about what it said were draconian steps by authorities to curb local communications in the face of demonstrations. -VOA (Fri, 12 Feb 2010 16:24:23 GMT)

Web video site Veoh filing for bankruptcy protection
Video website Veoh, which has been locked in a two-year legal battle with Vivendi's Universal Music Group over copyright infringement, is filing for bankruptcy protection, its founder announced. (Fri, 12 Feb 2010 17:46:57 GMT)

Former CEO of Inbank files for bankruptcy
By Becky Yerak | The former chief executive of Inbank, an Oak Forest-based lender that failed last September, has filed for Chapter 7 bankruptcy. (Fri, 12 Feb 2010 18:08:31 GMT)

Developer of Woodfin community files bankruptcy
WOODFIN — The company developing the upscale Altura community here has filed for Chapter 11 bankruptcy, saying it has $40.6 million in debts. (Fri, 12 Feb 2010 21:44:41 GMT)

Veoh Blames UMG Legal Battle For Bankruptcy Filing
Online video sharing service Veoh plans to file for Chapter 7 bankruptcy and liquidate the business, according to the company's founder, Dmitry Shapiro . Shapiro posted an open letter on his blog explaining that his company's legal battle with Universal Music Group is what led to its demise. (Fri, 12 Feb 2010 21:46:55 GMT)

Veoh files for bankruptcy
WASHINGTON - VIDEO website Veoh, which has been locked in a two-year legal battle with Vivendi's Universal Music Group over copyright infringement, is filing for bankruptcy protection, its founder announced. 'The distraction of the legal battles, and the challenges of the broader macro-economic climate have led to our Chapter 7 bankruptcy,' Dmitry Shapiro, founder and chief executive of Veoh ... (Sat, 13 Feb 2010 01:37:13 GMT)

Web video company Veoh plans bankruptcy filing
Veoh Networks, a San Diego Web video company that raised $70 million in venture capital, plans to file for Chapter 7 bankruptcy liquidation. (Sat, 13 Feb 2010 08:09:52 GMT)

Burani fashion house seeks bankruptcy protection
Debt-ridden Italian fashion house Mariella Burani said Saturday it would seek bankruptcy protection after failing to raise funds to cover losses. (Sat, 13 Feb 2010 15:43:26 GMT)

Burani fashion house seeks bankruptcy protection
ROME -Debt-ridden Italian fashion house Mariella Burani said Saturday it would seek bankruptcy protection after failing to raise funds to cover losses. Read more... (Sat, 13 Feb 2010 17:03:45 GMT)

Lawrence fiscal crisis prompts talk of bankruptcy, receivership
LAWRENCE — Bankruptcy. Receivership. Finance control board. Financial overseer. For the last several months, city and state officials have batted around these and other terms they believe represent the solution to the city's $24.5 million budget deficit. (Sun, 14 Feb 2010 06:11:28 GMT)

Regain Records Address Bankruptcy Rumor
A top story from this week. Regain Records aren't going anywhere (Sun, 14 Feb 2010 13:28:44 GMT)

Bankruptcy Fraud and Forensic Accountants
Being aware of fraud schemes related to bankruptcy and how they are perpetrated is crucial for the success of an investigation where a forensic accountant is involved. (Mon, 15 Feb 2010 04:29:46 GMT)

Bankruptcy: Feb. 15
BankruptcyFiled in January in U.S. Bankruptcy Court, Knoxville and GreenevilleDebtor, hometown (if different from court location), court locationChapter 7Albert Joseph Forcucci Jr. (dba A-B Construction) and Alta Sue Forcucci, KnoxvilleBobby Joe Reagan (fdba Dixie Glass Service), Sweetwater, KnoxvilleBrian Bejarano (dba Parkway Storage) and Ronna Bejarano (dba Parkway Storage), KnoxvilleDarlene ... (Mon, 15 Feb 2010 05:00:00 GMT)

Lawyers, consultants eat up bankruptcy resources for old GM
Advisers, lawyers and consultants have billed General Motors Co.'s bankruptcy estate more than $90 million in fees and expenses since last summer, a figure that will grow as unwanted assets such as real estate, equipment and factories are liquidated. (Mon, 15 Feb 2010 06:10:13 GMT)

Presidents Day Secrets - Abe Lincoln, Thomas Jefferson, and Bankruptcy
As Many Americans Face Bankruptcy in Today's Economy, Lincoln's and Jefferson's Bankruptcies Remain A Little Known Secret (Mon, 15 Feb 2010 07:05:00 GMT)

Presidents Day Secrets - Abe Lincoln, Thomas Jefferson, and Bankruptcy
As Many Americans Face Bankruptcy in Today's Economy, Lincoln's and Jefferson's Bankruptcies Remain A Little Known Secret (PRWeb Feb 15, 2010) Read the full story at http://www.prweb.com/releases/li (Mon, 15 Feb 2010 08:21:13 GMT)

Court bid for Samra bankruptcy
AN investor in Michael Samra's failed investment scheme was told previous investors had been paid so much cash they had to drive back to Brisbane. (Mon, 15 Feb 2010 08:24:42 GMT)

Seven Falls golf club may lose bankruptcy protection
By James Shea Times-News Staff Writer Seven Falls developer Keith Vinson has failed to file required status reports in one of his bankruptcy cases, is unlikely "to propose a feasible plan" to reorganize his business and emerge from bankruptcy and "is not represented by a disinterested attorney," a U.S. bankruptcy court administrator says. (Mon, 15 Feb 2010 12:07:51 GMT)

Hear The Flush? General Motors Bankruptcy Costs Begin To Swirl
Advisers, lawyers and consultants have billed General Motors Co. 's bankruptcy estate more than $90 million in fees and expenses since last summer, a figure that will grow as unwanted assets such as real estate, equipment and factories are liquidated. (Mon, 15 Feb 2010 19:57:12 GMT)

Fraser execs got bonuses as company sought bankruptcy
MADAWASKA, Maine -- As Fraser Papers Inc. stock tumbled in 2008 and losses culminated with Fraser seeking bankruptcy protection in mid-2009, its six top-level executives received $50,000 to $162,500 ... (Tue, 16 Feb 2010 02:41:06 GMT)

Explainer: Are Pensions Fair Game in Bankruptcy?
Since last fall, talk of municipal bankruptcy has wormed its way back into public debate at the city of San Diego. (Tue, 16 Feb 2010 02:58:01 GMT)

Movie Gallery bankruptcy to close 3 Mid-Missouri stores
Movie Gallery stores in Jefferson City and Fulton and one store in Columbia will be closing as part of a bankruptcy of the national chain of more than 2,000 video rental stores. (Tue, 16 Feb 2010 07:02:40 GMT)

CEE Group files for bankruptcy
PITTSTON – The firm that ended up paying Pittston Area School District $725,000 for extensive problems in heating, air conditioning and ventilation work has filed for bankruptcy. (Tue, 16 Feb 2010 08:34:29 GMT)

Accusations fly amid Lebedev anger at bankruptcy of low-cost airline Blue Wings
The bankruptcy of Blue Wings, the low-cost airline co-owned by Alexander Lebedev, has descended into acrimony, with its two biggest shareholders blaming each other for the failure. (Tue, 16 Feb 2010 12:12:21 GMT)

Morning Report: Cracking the Bankruptcy Nut
No way, no how. Not gonna do it. Nuh-uh. (Tue, 16 Feb 2010 15:28:02 GMT)

AmStar Advanced CLE Course Arms Attorneys with New Defense Strategies when Dealing with Foreclosures in Bankruptcy
In the midst of an economic crisis, bankruptcy lawyers have seen the need for their services increase in record numbers. According to Public Access to Court Electronic Records , a service that provides online access to U.S. (Tue, 16 Feb 2010 16:11:00 GMT)

Independent examiner urged in Tribune bankruptcy dispute
In advance of what promises to be a closely watched hearing Thursday in Tribune Co.'s Chapter 11 bankruptcy case, the U.S. trustee's office asked U.S. Bankruptcy Judge Kevin Carey to appoint an examiner to investigate charges that Sam Zell's 2007 leveraged buyout of the Chicago-based media conglomerate was improper. (Wed, 17 Feb 2010 04:18:36 GMT)

Willcom Said to File for Bankruptcy as Early as This Week
Feb. 17 (Bloomberg) -- Willcom Inc. , the Japanese wireless carrier controlled by the Carlyle Group, will file for bankruptcy protection with the Tokyo District Court as early as this week, three people familiar with the matter said. (Wed, 17 Feb 2010 05:44:41 GMT)

Reader's Digest says UK subsidiary files for administration, a form of bankruptcy protection
LONDON - The British subsidiary of Reader's Digest filed for administration, a form of bankruptcy protection, in a move intended to help its parent company complete restructuring under bankruptcy protection in the U.S. (Wed, 17 Feb 2010 13:57:44 GMT)

Judge approves Morris bankruptcy plan
A federal judge has cleared the way for newspaper owner Morris Publishing Group to emerge from bankruptcy protection. (Wed, 17 Feb 2010 15:37:48 GMT)

Judge approves Morris bankruptcy plan
A federal judge has cleared the way for newspaper owner Morris Publishing Group to emerge from bankruptcy protection. Judge John S. Dalis approved the Georgia company's plan to slash its debt by $288.5 million during a court hearing Wednesday in Augusta, less than a month after Morris Publishing filed under Chapter 11. (Wed, 17 Feb 2010 15:37:48 GMT)

Judge Approves Morris Bankruptcy Plan
Judge clears Morris Publishing to emerge from bankruptcy, slash debt by $288 million Bankruptcy - United States - Law - Services - Lawyers and Law Firms (Wed, 17 Feb 2010 15:55:43 GMT)

Judge approves Morris bankruptcy plan
A federal judge has cleared the way for newspaper owner Morris Publishing Group to emerge from bankruptcy protection. Judge John S. Dalis approved the Georgia company's plan to slash its debt by $288.5 million during a court hearing Wednesday in Augusta, less... Georgia - Bankruptcy - Morris Communications - United States - Augusta Georgia (Wed, 17 Feb 2010 16:09:59 GMT)

Bankruptcy judge approves Morris Publishing debt reorganization plan
Augusta-based newspaper publishing company Morris Publishing Group should emerge from Chapter 11 bankruptcy protection on March 1. (Wed, 17 Feb 2010 16:36:03 GMT)

Morris Publishing bankruptcy plan approved
A federal judge Wednesday cleared the way for newspaper owner Morris Publishing Group to emerge from bankruptcy protection less than a month after it filed under Chapter 11. (Wed, 17 Feb 2010 16:52:59 GMT)

Judge approves Morris bankruptcy plan
A judge has cleared the way for newspaper owner Morris Publishing Group to emerge from bankruptcy protection. (Wed, 17 Feb 2010 16:54:57 GMT)

Morris Publishing bankruptcy plan approved
A federal judge Wednesday cleared the way for newspaper owner Morris Publishing Group to emerge from bankruptcy protection less than a month after it filed under Chapter 11. (Wed, 17 Feb 2010 23:59:53 GMT)

Inside Lyondell Bankruptcy's Texas-Sized Legal Bills
Houston-based Lyondell Chemical is hoping that its yearlong Chapter 11 case is nearly over, after reaching a $450 million settlement with creditors this week. The Am Law Daily did some docket-digging to gauge law firm profits stemming from the pharmaceutical giant's bankruptcy court odyssey. So far, Cadwalader has secured itself the biggest slice of the pie. (Thu, 18 Feb 2010 04:12:20 GMT)

Japan Telecom Backed by Carlyle Files for Bankruptcy
Willcom said on Thursday that it has filed for bankruptcy with 206 billion yen, or $2.3 billion, in debts, a move that is expected to wipe out Carlyle's majority stake. (Thu, 18 Feb 2010 07:05:30 GMT)

Willcom Files for Bankruptcy Protection in Japan (Update1)
Feb. 18 (Bloomberg) -- Willcom Inc. , the Japanese wireless carrier controlled by the Carlyle Group, filed for bankruptcy protection today, said Kyoko Kakishima , a Willcom spokeswoman. (Thu, 18 Feb 2010 07:45:08 GMT)

Inside Lyondell Bankruptcy's Texas-Sized Legal Bills
Houston-based Lyondell Chemical is hoping that its yearlong Chapter 11 case is nearly over, after reaching a $450 million settlement with creditors this week. The Am Law Daily did some docket-digging to gauge law firm profits stemming from the pharmaceutical giant's bankruptcy court odyssey. (Thu, 18 Feb 2010 08:02:20 GMT)

Willcom Files for Bankruptcy Protection in Japan (Update3)
Feb. 18 (Bloomberg) -- Willcom Inc. , the Japanese wireless carrier controlled by the Carlyle Group, filed for bankruptcy protection with the Tokyo District Court with liabilities of 206 billion yen ($2.2 billion). (Thu, 18 Feb 2010 09:56:08 GMT)

Japan Telecom Backed by Carlyle Files for Bankruptcy
The Japanese wireless company Willcom , 60 percent owned by the U.S. private equity firm Carlyle Group , said Thursday it was filing for bankruptcy protection in Tokyo, Chris V. Nicholson and Hiroko Tabuchi report in The New York Times. (Thu, 18 Feb 2010 10:11:07 GMT)

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