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Home > Bankruptcy News

Bankruptcy News May 2010

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What was Robert Citron's role in Orange County, California's bankruptcy?
What was Robert Citron's role in Orange County, California's bankruptcy? In 1994, Orange County announced that its investment pool had lost $1.6 billion. The announcement from the Southern California county seemed as unthinkable as local authorities announcing they had discovered a glacier. (Sat, 01 May 2010 01:09:14 -0700)

Gov: Bankruptcy law needed in case cities fail
Gov. Mitch Daniels said Friday it might be time for Indiana to pass a municipal bankruptcy law in case Gary or another insolvent Hoosier city fails to prevent financial ruin in the future. Such a law is a requirement for any city interested in pursuing bankruptcy, and he said it shouldn't harm Indiana's AAA credit rating, one of the best in the country. (Sat, 01 May 2010 02:01:15 -0700)

Freedom Communications exits bankruptcy
IRVINE, Calif. Freedom Communications Inc., parent company of The Gazette, announced Friday that it has emerged from bankruptcy reorganization. The emergence from Chapter 11 bankruptcy relieves Freedom of $450 million in debt, but it brings an... (Sat, 01 May 2010 06:10:35 -0700)

W.Va. lawyer convicted of bankruptcy fraud
Associated Press - May 1, 2010 10:55 AM ET HUNTINGTON, W.Va. (AP) - A West Virginia attorney has been convicted of bankruptcy fraud. Federal prosecutors say a jury found 54-year-old... (Sat, 01 May 2010 07:58:43 -0700)

Freedom Communications exits bankruptcy protection
Media company Freedom Communications is out of bankruptcy protection. (Mon, 03 May 2010 13:11:07 -0700)

Prosecutors, Bankruptcy Trustee Hit Stalemate Over RRA Assets
Where Scott Rothstein's $1.2 billion Ponzi scheme ended and his defunct law firm began is at best a gray area. Prosecutors want a vast forfeiture plan, seeking all ill-gotten gains tied to Rothstein. In the other corner, attorneys for the bankruptcy trustee overseeing the remains of the Rothstein Rosenfeldt Adler law firm say the government's reach is too broad. An attorney who represents the ... (Mon, 03 May 2010 20:35:57 -0700)

Bankruptcy filing includes Boulder business paper
Newspaper publishers Brown Media Holdings Co. and Brown Publishing Co. parent entity to business newspapers such as the Boulder County Business Report have filed for Chapter 11 bankruptcy relief and plan to sell their assets in 10 states to a bidder the companies have chosen. (Tue, 04 May 2010 00:20:59 -0700)

Six Flags Emerges From Bankruptcy
Theme park operator Six Flags emerged from Chapter 11 bankruptcy on Monday after wiping out more than a billion dollars in debt by turning the companys ownership over to bondholders. (Tue, 04 May 2010 01:28:47 -0700)

Business Record parent files bankruptcy
Newspaper publishers Brown Media Holdings Co. and Brown Publishing Co. have filed for Chapter 11 bankruptcy relief and plan to sell their assets in Iowa and nine other states to a bidder the companies have chosen. (Tue, 04 May 2010 02:21:07 -0700)

Toledo area bankruptcy filings drop slightly in April
Bankruptcy filings in northwest Ohio declined slightly in April, just the second time in more than three years that local monthly bankruptcy filings have fallen from the same month the previous year. April filings for the 21 Ohio counties covered by the U.S. Bankruptcy Court in Toledo fell 2 percent from the same month a year ago to 878 cases. The only other drop from the same month a year ... (Tue, 04 May 2010 02:33:00 -0700)

NCBR parent files for bankruptcy protection
The parent company of Northern Colorado Business Report and Boulder County Business Report has filed for Chapter 11 bankruptcy protection and said it intends to sell its assets. (Tue, 04 May 2010 04:12:25 -0700)

U.S. Bankruptcy Filings Fell 4% in April From March
U.S. bankruptcy filings by individuals and businesses fell in April to the second-highest level since changes to the law in 2005 made it harder for individuals to seek protection from creditors. (Tue, 04 May 2010 06:31:57 -0700)

Six Flags says it's out of bankruptcy
Six Flags Entertainment says it has emerged from Chapter 11 bankruptcy protection. (Tue, 04 May 2010 07:48:45 -0700)

Freedom Communications out of bankruptcy with new owners
A company that owns the McAllen Monitor and several other Rio Grande Valley newsapers has emerged from bankruptcy with new owners. (Tue, 04 May 2010 08:54:52 -0700)

Cunningham's Funeral Home files for bankruptcy
By Susan Latham Carr Staff Writer Cunningham's Funeral Home, P.A., which has served west Ocala families' funeral and mortuary needs for generations, has filed for Chapter 11 bankruptcy. (Tue, 04 May 2010 14:04:07 -0700)

Station Casinos gets extension on sole right to draft bankruptcy plan
Station Casinos is getting a little extra time as the exclusive company or group to draw up a reorganization plan in its $6.6 billion bankruptcy case. U.S. Bankruptcy Court Judge Gregg Zive gave the Las Vegas casino company until mid July to exclusively put forth a plan on how to emerge from its debt. (Tue, 04 May 2010 20:05:15 -0700)

Freedom emerges from bankruptcy
IRVINE, Calif. Freedom Communications Inc., parent company of the Quay County Sun, announced Friday it has emerged from bankruptcy reorganization. The emergence from Chapter 11 bankruptcy relieves Freedom of $450 million in debt, but it brings an... (Tue, 04 May 2010 21:36:29 -0700)

Bankruptcy trustee proposes a compromise for Durango site
ST. MARYS - The bankruptcy court trustee managing the Durango-Georgia Paper Co. site is asking creditors to approve a motion in U.S. Bankruptcy Court to transfer ownership. The proposal, if approved, would allow North River LLC, a subsidiary of Jacksonville-based LandMar Group, to transfer ownership to Old Weed & Ready Plantation LLC, a company created by the bankruptcy trustee and debtors ... (Tue, 04 May 2010 22:00:37 -0700)

Mark Wentworth Home exits Chapter 11 bankruptcy proceedings
PORTSMOUTH The U.S. Bankruptcy Court in Manchester has approved the Mark Wentworth Home's plan of reorganization, allowing the 100-year-old assisted-living and nursing facility to emerge from Chapter 11 bankruptcy 93 days after seeking the... (Tue, 04 May 2010 23:11:10 -0700)

Bankruptcy judge tells pastor he needs a lawyer
The father of the Meredith man who allegedly masterminded a $80 million to $100 million Ponzi scheme appeared in a Manchester federal bankruptcy court Tuesday to defend against an attempt by bankruptcy trustees to attach the assets of his church. (Wed, 05 May 2010 00:26:19 -0700)

Blue Beach development pulled into bankruptcy
The mammoth Blue Beach Avenue development in Wasaga Beach could be sinking into the sands of bankruptcy. The corporation operated by the Levy brothers was scheduled to make an appearance at a Toronto court Wednesday after a creditor tried to force it into bankruptcy.[...] (Wed, 05 May 2010 00:43:48 -0700)

Bankruptcy moves
Former senior partner at Marrache & Co law firm, now wound up, has returned to the Rock. Following a bankruptcy order, Isaac Marrache has been granted leave to appeal the said order - the effects of the order having been stayed until the appeal is heard. (Wed, 05 May 2010 01:53:15 -0700)

Bankruptcy judge denies request from Washington Mutual shareholders for independent examiner
WILMINGTON, Del. - A Delaware bankruptcy judge on Wednesday denied a request by Washington Mutual Inc. shareholders to appoint an independent examiner in the bank holding company's Chapter 11 case. (Wed, 05 May 2010 12:26:01 -0700)

Commercial Re Files for Bankruptcy Protection
May 6 (Bloomberg) -- Commercial Re Co., a Tokyo-based real estate management company, said it today filed for bankruptcy protection with liabilities of 15 billion yen ($160 million). The company made the announcement in a press release. (Wed, 05 May 2010 17:45:20 -0700)

Oregon liquefied gas developer NorthernStar files for bankruptcy
The company that on Tuesday halted development of a liquefied natural gas import terminal on the Columbia River east of Astoria has filed for bankruptcy. (Wed, 05 May 2010 19:16:57 -0700)

Trustee in Hecker bankruptcy case is loaded for bear
The bankruptcy trustee goes on a "bear hunt" with a new complaint before he claims a victory in an earlier one. (Wed, 05 May 2010 19:26:12 -0700)

Hale Mill bankruptcy filing set for Hartford courtroom May 13
Norwich - A 15-year saga to convert the former Hale Mill in Yantic into a hotel has moved into bankruptcy court, with the owner seeking Chapter 11 protection after a recent court order granting a $16. (Wed, 05 May 2010 22:27:20 -0700)

Congress may extend bankruptcy relief to private student loans
College graduates overwhelmed by private student loans could see bankruptcy relief if proposed legislation makes its way through Capitol Hill. (Wed, 05 May 2010 23:41:46 -0700)

Business Realtor Commercial RE files for bankruptcy protection
Commercial RE Co, a property management company, said Thursday it has filed for bankruptcy protection under the civil rehabilitation law, estimating its liabilities at 15 (Thu, 06 May 2010 00:04:18 -0700)

Boulder County Business Report's parent files for bankruptcy
Newspaper publishers Brown Media Holdings Co. and Brown Publishing Co. -- parent entity to business newspapers such as the Boulder County Business Report -- have filed for Chapter 11 bankruptcy relief and plan to sell their assets in 10 states to a bidder the companies have chosen. (Thu, 06 May 2010 01:59:24 -0700)

Aloha Airlines Bankruptcy Attorneys Sue Creditors
Bankruptcy attorneys for the defunct Aloha Airlines are suing some creditors under a long-time bankruptcy law. (Thu, 06 May 2010 03:05:30 -0700)

Leading Bankruptcy Partner Alan Feld Joins Sheppard Mullin
LOS ANGELES, CA--(Marketwire - 05/06/10) - Alan M. Feld has joined the Los Angeles/Downtown office of Sheppard, Mullin, Richter & Hampton LLP as a partner in the firm's Finance and Bankruptcy practice group. Feld most recently practiced at Manatt, Phelps & Philips in Los Angeles, where he co-chaired the firm's Bankruptcy & Financial Restructuring practice group. Feld's practice focuses on both ... (Thu, 06 May 2010 07:31:00 -0700)

Bankruptcy court to rule on General Growth plan
Simon Property Group Inc.'s bid to acquire rival shopping mall owner General Growth Properties Inc. could hinge on the outcome of a bankruptcy court hearing underway in New York. (Fri, 07 May 2010 11:26:47 -0700)

Judge clears General Growth bankruptcy exit plan
Simon Property Group Inc. on Friday withdrew its $6.5 billion bid to acquire rival shopping mall owner General Growth Properties Inc., following a bankruptcy court ruling that Simon said would have made the deal too expensive. The move ends a monthslong... (Fri, 07 May 2010 12:07:09 -0700)

Baer Has Other Businesses In Bankruptcy
Brandeis heir Ted Baer and his wife recently filed for bankruptcy protection, citing debts between $10 million and $50 million, but the filing wasn't the first sign that Baer was having financial trouble. (Fri, 07 May 2010 15:52:37 -0700)

Judge clears General Growth bankruptcy exit plan
Simon Property Group Inc. on Friday withdrew its $6.5 billion bid to acquire rival shopping mall owner General Growth Properties Inc., following a bankruptcy court ruling that Simon said would have made the deal too expensive. (Fri, 07 May 2010 16:47:09 -0700)

Judge clears Augusta Mall owner's bankruptcy exit
LOS ANGELES - Simon Property Group Inc. on Friday withdrew its $6.5 billion bid to acquire Augusta Mall owner General Growth Properties Inc., following a bankruptcy court ruling that Simon said would have made the deal too expensive. (Fri, 07 May 2010 17:35:21 -0700)

3rd Circuit Agrees to Mull Bankruptcy Discharge's Impact on Injury Claims
The 3rd Circuit could be poised to overturn one of its most widely criticized precedents involving how courts decide whether and when the discharge of all claims in a corporate bankruptcy reorganization plan should act as a bar to future personal injury claims. The 1984 decision in Matter of M. Frenville Co. was called into question in a recent appeal, Jeld-Wen Inc. v. Van Brunt, that could have ... (Fri, 07 May 2010 19:51:18 -0700)

Court Agreement Ends General Growth Bankruptcy Bid Battle
Ending one of real estate's most protracted takeover battles, New York bankruptcy Judge Allan Gropper agreed Friday to allow Chicago-based General Growth Properties, a mall real estate investment trust, to partner with Brookfield Asset Management of Toronto in an $8.5 billion reorganization plan. The decision sets Brookfield as the "stalking horse" bidder and ends an aggressive takeover attempt ... (Fri, 07 May 2010 19:51:29 -0700)

Judge clears General Growth bankruptcy exit plan
LOS ANGELES -- Simon Property Group Inc. on Friday withdrew its $6.5 billion bid to acquire rival shopping mall owner General Growth Properties Inc., following a bankruptcy court ruling that Simon sai (Sat, 08 May 2010 00:20:11 -0700)

What effect did the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 have on debtors?
What effect did the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 have on debtors? (Sat, 08 May 2010 01:09:14 -0700)

Developers file for bankruptcy
MAURERTOWN -- The man and woman behind a Maurertown housing development that includes plans for a group home for drug addicts have filed for bankruptcy in U.S. Bankruptcy Court. (Sat, 08 May 2010 03:07:23 -0700)

U.S. Bankruptcy Court in New Orleans is reaching out to individuals, businesses who are owed money
The U.S. Bankruptcy Court in New Orleans is reaching out to individuals and businesses who are owed money as a result of bankruptcy proceedings but never claimed it. The court, which serves the Eastern District of Louisiana, has developed a... (Sun, 09 May 2010 04:20:46 -0700)

Delaware increases amount of home equity protected in bankruptcy proceedings from $50,000 to $125,000
The House of Representatives passed legislation on Thursday that would more than double the amount of equity that a homeowner could protect in a bankruptcy proceeding. (Sun, 09 May 2010 04:28:46 -0700)

Greeks prefer austerity cuts to bankruptcy, poll shows
Greeks prefer austerity cuts to bankruptcy, poll showsGreeks prefer austerity cuts to bankruptcy, poll shows (Sun, 09 May 2010 08:06:09 -0700)

Lenders accuse River Vale Country Club owner of lying in bankruptcy court
The biggest creditor of the River Vale Country Club has accused the majority owner of fraud and of telling "blatant lies" to a bankruptcy court in an effort to head off a foreclosure proceeding. (Sun, 09 May 2010 23:19:04 -0700)

Accusations fly in country club bankruptcy
Two lenders owed $21 million want the judge to throw out the bankruptcy filing of the golf clubs owner, saying it acted in bad faith by saying a Korean investor had put up $40,000 to help secure planning permits. The owner later told the court that the money came from his family. (Sun, 09 May 2010 23:36:56 -0700)

Delaware increases amount of home equity protected in bankruptcy proceedings from $50,000 to $125,000
The House of Representatives passed legislation on Thursday that would more than double the amount of equity that a homeowner could protect in a bankruptcy proceeding. (Mon, 10 May 2010 05:14:08 -0700)

Most Greeks prefer austerity measures to bankruptcy: polls
An increasing majority of Greek citizens seems to accept the harsh austerity measures implemented so that the country will avoid bankruptcy, according to the latest polls released on Sunday's Greek newspapers. The 56.3 percent of 1,030 people who participated in the survey conducted by "Kappa Research" firm for the "Vima" daily, said that they preferred cutbacks on wages against the prospect of ... (Mon, 10 May 2010 06:10:49 -0700)

Greeks prefer austerity cuts to bankruptcy, poll shows
&$ &$An increasing majority of Greek citizens seems to accept the harsh austerity measures implemented so that the country will avoid bankruptcy, according to the latest polls released on Sunday's Greek newspapers. (Xinhua/AFP)&$ &$ &$ 1 2 (Mon, 10 May 2010 06:27:43 -0700)

Greeks prefer austerity cuts to bankruptcy, poll shows
&$ &$An increasing majority of Greek citizens seems to accept the harsh austerity measures implemented so that the country will avoid bankruptcy, according to the latest polls released on Sunday's Greek newspapers. (Xinhua/AFP) &$ &$Source: Xinhua&$ &$&$ 1 2 ... (Mon, 10 May 2010 06:27:53 -0700)

Bankruptcy court to rule on General Growth plan
LOS ANGELES Simon Property Group Inc.'s bid to acquire rival shopping mall owner General Growth Properties Inc. could hinge on the outcome of a bankruptcy court hearing underway in New York. (Mon, 10 May 2010 06:30:36 -0700)

Two Genesee County businesses file for bankruptcy in U.S. Bankruptcy Court Eastern District of Michigan
Here are recent business bankruptcy filings in the U.S. Bankruptcy Court Eastern District of Michigan Flint office, which covers Genesee, Lapeer, Livingston and Shiawassee counties. (Mon, 10 May 2010 07:43:22 -0700)

(AFX UK Focus) 2010-05-10 16:15 UPDATE 1-Newark Group to file prepackaged bankruptcy
NEW YORK, May 10 (Reuters) - Newark Group Inc, a maker of recycled paperboard products, said on Monday it reached a deal with its major creditors to restructure debt in exchange for equity, and plans to file a prepackaged Chapter 11 bankruptcy. The company, which collects and recycles paperboard materials, said that holders of its 9.75 unsecured senior debt would receive about 96.5 percent of ... (Mon, 10 May 2010 08:35:05 -0700)

The Newark Group to File Prepackaged Chapter 11 Bankruptcy
May 10, 2010 - The Newark Group today said that it has reached a deal with its major creditors to restructure debt in exchange for equity, and plans to file a prepackaged Chapter 11 bankruptcy. (Mon, 10 May 2010 08:47:14 -0700)

Judge appoints Tribune bankruptcy examiner
The judge in the Tribune Co.'s Chapter 11 case appointed an independent examiner on Monday to review the 2007 leveraged buyout of the media conglomerate and the potential claims arising from it that might be brought on behalf of the bankruptcy estate. (Mon, 10 May 2010 12:47:33 -0700)

Spansion Emerges From Bankruptcy Leaner, Profitable
Spansion has emerged from Chapter 11 bankruptcy later than planned, but it is now a leaner, more profitable company. (Mon, 10 May 2010 20:00:21 -0700)

Spansion Emerges From Bankruptcy Leaner, Profitable
Spansion has emerged from Chapter 11 bankruptcy later than planned, but it is now a leaner, more profitable company. Chapter 11 Title 11 United States Code - Law - Spansion - Services - Lawyers and Law Firms (Mon, 10 May 2010 21:16:05 -0700)

The Morality of Bankruptcy, Part I
http://www.JewishWorldReview.com | Q. My job involves advising people on their financial affairs. Is it ever proper to advise someone to declare bankruptcy and avoid paying his debts? (Tue, 11 May 2010 00:06:20 -0700)

Bankruptcy filing should halt bank levies
When you file bankruptcy, attempts to recover your debt should stop, including collection efforts. (Tue, 11 May 2010 03:00:00 -0700)

Bankruptcy filing should halt bank levies
Dear Bankruptcy Adviser, I filed Chapter 13 bankruptcy recently. The creditor was named on the bankruptcy list of schedules. Yesterday, the creditor served a levy on all bank accounts. How is that possible? (Tue, 11 May 2010 04:35:15 -0700)

Chem Rx, Pharmaceutical Provider, Enters Bankruptcy
May 11 (Bloomberg) -- Chem Rx Corp. , a provider of institutional pharmacy services, sought bankruptcy protection from creditors. (Tue, 11 May 2010 06:40:49 -0700)

Liquidations dominate bankruptcy filings
With a third of the year over, predictions by lawyers held true that bankruptcy filings would continue to rise. (Tue, 11 May 2010 07:25:46 -0700)

LIVE CHAT: Bankruptcy Questions
It's an issue many families are facing ... bankruptcy. If you have any legal questions concerning the issue, those answers can be just a click away! (Tue, 11 May 2010 07:40:49 -0700)

Chem Rx, Pharmaceutical Provider, Enters Bankruptcy
May 11 (Bloomberg) -- Chem Rx Corp. , a provider of pharmacy services to nursing homes and correctional facilities, sought bankruptcy protection from creditors to restructure. (Tue, 11 May 2010 08:55:52 -0700)

Pasadena Playhouse files for Chapter 11 bankruptcy
The Pasadena Playhouse, which brought the curtains down in February, has filed for bankruptcy. (Tue, 11 May 2010 12:15:04 -0700)

Pasadena Playhouse files for Chapter 11 bankruptcy
The Pasadena Playhouse, which brought the curtains down in February, has filed for bankruptcy. Executive director Stephen Eich said Tuesday the playhouse is seeking Chapter 11 protection so it can get its finances in order and reopen. (Tue, 11 May 2010 12:25:50 -0700)

Pasadena Playhouse files for Chapter 11 bankruptcy
The Pasadena Playhouse, which brought the curtains down in February, has filed for bankruptcy. Executive director Stephen Eich said Tuesday the playhouse is seeking Chapter 11 protection so it can get its finances in order and reopen. Actors such as Dustin... (Tue, 11 May 2010 12:38:13 -0700)

Six Flags rides away from bankruptcy, into a key summer
MICHAEL AINSWORTH/DMN Six Flags Over Texas in Arlington is preparing for Friday, when its summer season starts. Executives hope the parks do better this year than last.After a wild ride in 2009, Six Flags Entertainment the the corporate parent of the chain of regional theme parks that got its start in North Texas emerged from bankruptcy this month, with its debt burden $1.7 billion lighter. (Tue, 11 May 2010 19:06:10 -0700)

Former RRA Partner Holds Out Hope for Settlement in Firm Bankruptcy
A confidential settlement between Scott Rothstein's former equity partner Stuart Rosenfeldt and the court-appointed bankruptcy trustee could be reached by week's end. If not, Rosenfeldt said he will hire a bankruptcy attorney. Rosenfeldt said he has not been contacted by federal authorities in the criminal case against Scott Rothstein and hopes he will not be. "The government gave me back my ... (Tue, 11 May 2010 19:51:27 -0700)

Six Flags rides away from bankruptcy, into a key summer
TOM FOX/DMNNow called Six Flags Entertainment Corp., the parent emerged from bankruptcy this month, with its debt burden $1.7 billion lighter. (Tue, 11 May 2010 20:28:19 -0700)

90-year-old US Playhouse files for bankruptcy
Pasadena Playhouse, the 90-year-old landmark theatre in California, has filed for bankruptcy due to severe financial difficulties. (Wed, 12 May 2010 02:25:29 -0700)

Grand Island Holiday Inn files for bankruptcy
The company that owns the Holiday Inn Resort and Conference Center on Grand Island has filed for Chapter 11 bankruptcy. (Wed, 12 May 2010 04:09:48 -0700)

Delaware increases amount of home equity protected in bankruptcy proceedings from $50,000 to $125,000
The House of Representatives passed legislation on Thursday that would more than double the amount of equity that a homeowner could protect in a bankruptcy proceeding. (Wed, 12 May 2010 04:18:07 -0700)

Life After Bankruptcy
In these tough economic times more people are struggling to pay their bills and filing for bankruptcy protection. But what is life after bankruptcy like? (Wed, 12 May 2010 20:14:57 -0700)

Bankruptcy card could be ace or joker for Texas Rangers creditor
The lenders that hold $525 million in Hicks Sports Group debt could force the Texas Rangers into bankruptcy should Major League Baseball seize control of the team. (Wed, 12 May 2010 21:42:50 -0700)

Rangers could face bankruptcy if MLB takes control of club
The lenders that hold $525 million in Hicks Sports Group debt could force the Rangers into bankruptcy should Major League Baseball seize control of the team. (Wed, 12 May 2010 21:54:50 -0700)

Judge sides with Visteon, not shareholders, in exit from bankruptcy
A bankruptcy judge on Wednesday rejected efforts to derail Visteon Corp.'s exit from bankruptcy, giving the company the continued sole right to propose a reorganization plan. (Wed, 12 May 2010 22:10:48 -0700)

Bankruptcy judge to hear case of half-finished 'Jackson' building
A hearing in federal bankruptcy court today may forecast what happens to the half-finished building at 25th and Yakima. (Thu, 13 May 2010 00:20:25 -0700)

England, Wales 1Q Bankruptcy, Company Winding-Up Petitions Rise
England, Wales 1Q Bankruptcy, Company Winding-Up Petitions Rise (Thu, 13 May 2010 03:31:05 -0700)

Bi Lo & Bankruptcy
South Carolina-based grocery chain Bi-Lo has emerged from Chapter 11 bankruptcy. Bi-Lo president and chief executive Michael Byars said Wednesday that the company had successfully completed its financial restructuring and was emerging from bankruptcy stronger and leaner. (Thu, 13 May 2010 04:41:12 -0700)

Pizzeria Uno closer to bankruptcy exit
Dow Jones Newswires | A bankruptcy judge gave Uno Restaurant Holdings Corp. the green light to send its restructuring plan to creditors for a vote. (Thu, 13 May 2010 06:50:04 -0700)

Aleris International's Plan of Reorganization Confirmed by Bankruptcy Court
Aleris International, Inc. a global leader in aluminum rolled products, extrusions and recycling, announced today that the U.S. Bankruptcy Court in Delaware entered an order confirming the company's Plan of Reorganization . (Thu, 13 May 2010 07:44:00 -0700)

Visteon Shareholders Lose Bid for Bankruptcy Examiner
May 13 (Bloomberg) -- Visteon Corp. shareholders lost their bid for an investigation of whether managers are wrongly proposing to cancel the companys stock as part of a plan for the car-parts maker to exit bankruptcy. (Thu, 13 May 2010 08:55:56 -0700)

Grocer Bashas' Close to Bankruptcy Financing Deal
Ariz. grocer Bashas' close to financing deal that would let company emerge from bankruptcy (Thu, 13 May 2010 12:46:46 -0700)

Grocer Bashas' close to bankruptcy financing deal
Bashas' Inc. is negotiating with two competing investment banks for up to $210 million in financing that would allow the grocery chain to emerge from Chapter 11 bankruptcy protection as early as July. (Thu, 13 May 2010 13:16:24 -0700)

Grocer Bashas' close to bankruptcy financing deal
Bashas' Inc. is close to securing new financing that would allow it to emerge from bankruptcy protection by midsummer, a lawyer for the Arizona grocer said Thursday. (Thu, 13 May 2010 13:39:20 -0700)

Visteon Shareholders Lose Bid for Bankruptcy Examiner
Visteon Corp. shareholders lost their bid for an investigation of whether managers are wrongly proposing to cancel the companys stock as part of a plan for the car-parts maker to exit bankruptcy. (Thu, 13 May 2010 14:22:09 -0700)

Properst Files for Bankruptcy With 55.4 Billion Yen in Debt
May 14 (Bloomberg) --Properst Co., a Japanese real estate company, filed for bankruptcy protection with 55.4 billion yen ($599 million) in liabilities. The Tokyo-based company said in a press release that it will maintain its stock listing on the Jasdaq market. (Thu, 13 May 2010 17:30:10 -0700)

Pa. swim club accused of discriminating against black children is sold at bankruptcy auction
PHILADELPHIA - A private suburban Philadelphia swim club accused of racial discrimination has been sold at a bankruptcy auction. The Huntingdon Valley-based Valley Club was sold for $1.46 million Thursday. (Thu, 13 May 2010 19:53:51 -0700)

Canadian Court Approves Smurfit-Stone Bankruptcy Exit Plan
Canadian Court Approves Smurfit-Stone Bankruptcy Exit Plan (Thu, 13 May 2010 22:45:45 -0700)

Petition dismissed in Hale Mill bankruptcy bid
Hartford - A U.S. Bankruptcy Court judge dismissed a bankruptcy petition by the owner of the Hale Mill in Yantic, a move that could allow the mortgage company to press its $16.8 million foreclosure (Thu, 13 May 2010 22:57:25 -0700)

Properst Files for Bankruptcy on Property Market Drop
Properst Co., the Japanese property developer that had Madonna promote high-rise apartment sales in central Tokyo, filed for bankruptcy protection as the credit crisis pushed condominium sales to almost two-decade lows. (Fri, 14 May 2010 00:02:20 -0700)

Bashas' close to bankruptcy financing deal
PHOENIX (KOLD) - Bashas' is close to securing new financing that would allow it to emerge from bankruptcy protection by mid-summer. In a memo, leaders of the grocery store chain say they have been negotiating with two investment banking groups and both are interested in helping finance the company. (Fri, 14 May 2010 08:06:18 -0700)

Are unpaid dues protected in bankruptcy?
Q. Is the debt of an uncollected homeowners association annual dues assessment considered a "secured debt" when filing a Proof of Claim if the owner files for bankruptcy, since it involves real estate (vacant land or land with a home)? (Fri, 14 May 2010 16:41:48 -0700)

Post-bankruptcy Bi-Lo re-groups, remodels
Bi-Lo may be out of bankruptcy, but it isn't out of the woods: Plenty of challenges remain as the grocer vies for customers in an intensely competitive marketplace. (Fri, 14 May 2010 17:40:32 -0700)

US bankruptcy filings rise again
US bankruptcy filings have resumed their upward climb in the first quarter, nearly equaling their highest level since 2005. (Fri, 14 May 2010 19:18:01 -0700)

Xerium to emerge from bankruptcy
Xerium Technologies has won court approval for its prepackaged reorganization plan and expects to exit bankruptcy protection by the end of the month. (Fri, 14 May 2010 21:02:37 -0700)

Failed Beach First Bank files for bankruptcy
The owner of a recently failed Myrtle Beach bank filed for bankruptcy Friday, setting the stage for a sale of its assets to help pay off some of its creditors. Beach First National Bancshares Inc. listed assets of about $3.75 million and debts of roughly $13.2 million. Bankruptcy ... (Fri, 14 May 2010 21:25:40 -0700)

Radio stations not silenced by bankruptcy
Montgomery-based Bluewater Broadcasting is poised to emerge from bankruptcy with its roster of stations intact. (Sat, 15 May 2010 02:12:02 -0700)

Preakness outlook bright in light of economy, end of bankruptcy
Corporate sponsors, tickets sales up For years, the Preakness has been run in Baltimore as if it might be the last time. Now, a rebounding economy, a new marketing strategy and its owner exiting bankruptcy appear to have solidified the race's future here. (Sat, 15 May 2010 05:31:01 -0700)

Erickson Retirement looks to the future after bankruptcy
Out of bankruptcy and under new ownership Just months after Erickson Retirement Communities filed for bankruptcy, the company's new owners say they are poised for expansion with the same business model that seized up along with the housing and credit markets last year. (Sun, 16 May 2010 01:49:22 -0700)

Man ordered to pay $3M in DUI crash files for bankruptcy
By Suevon Lee Staff writer In January, a circuit judge awarded Adrian "Stretch" Cummings $3 million in damages in his auto negligence lawsuit against William "Billy" Nichols Jr. So far, only $500,000 of that judgment has been produced - the amount of Nichols' insurance policy coverage. Not a penny more has been paid in the last five months. (Sun, 16 May 2010 04:01:27 -0700)

Pasadena Playhouse files for Chapter 11 bankruptcy
PASADENA, CALIF. (Sun, 16 May 2010 05:19:53 -0700)

Recent bankruptcy filings for firms in the D.C. area
These firms recently filed with the U.S. Bankruptcy Court's local clerk of court offices. Bankruptcy - Law - United States - Services - Lawyers and Law Firms (Sun, 16 May 2010 21:00:00 -0700)

Neff Rental files for Chapter 11 bankruptcy
U.S. equipment rental company Neff Rental Inc filed for a prearranged Chapter 11 bankruptcy protection late Sunday in order to shrink its balance sheet and eliminate more than $400 million of debt. (Sun, 16 May 2010 21:00:38 -0700)

Orange County Tells Harrisburg Bankruptcy Has Positive Side
May 17 (Bloomberg) -- Orange County, California, whose 1994 municipal bankruptcy was then the largest in U.S. history, had some advice for Harrisburg, Pennsylvania , the state capital weighing Chapter 9 protection. (Sun, 16 May 2010 21:49:22 -0700)

Feds' unclaimed bankruptcy account ballooned in recession
The wave of bankruptcies that swept across the country during the recession has seen the governments unclaimed bankruptcy account leap by about 45% as the feds seized money and assets belonging to insolvent consumers. (Sun, 16 May 2010 23:55:23 -0700)

Neff Rental Files for Chapter 11 Bankruptcy
Neff Rental, the U.S. equipment rental company, filed for a prearranged Chapter 11 bankruptcy protection late Sunday in order to shrink its balance sheet and eliminate more than $400 million of debt. (Mon, 17 May 2010 01:58:36 -0700)

Banking on bankruptcy
Ryan Foor is only slightly apologetic about writing off $30,000 in debts by going bankrupt. The central Ohio man is one of the growing number of Ohioans filing for bankruptcy, a process through the federal courts that allows people to write off all or part of their debts. (Mon, 17 May 2010 03:45:26 -0700)

Banking on bankruptcy
Ryan Foor is only slightly apologetic about writing off $30,000 in debts by going bankrupt. Foor is one of the increasing number of Ohioans filing for bankruptcy, a process through the federal courts that allows people to write off all or part of their debts. (Mon, 17 May 2010 05:01:07 -0700)

Banking on bankruptcy
Ryan Foor is only slightly apologetic about writing off $30,000 in debts by going bankrupt. Foor is one of the growing number of Ohioans filing for bankruptcy, a process through the federal courts that allows people to write off all or part of their debts. (Mon, 17 May 2010 05:04:48 -0700)

Did Bankruptcy Reform Create More Mortgage Defaults?
A recent working paper argues that the 2005 reform of U.S. bankruptcy law led to more defaults on home mortgages. (Mon, 17 May 2010 06:46:01 -0700)

Contact us: Are you a GM shareholder affected by their bankruptcy?
Are you a General Motors shareholder or bond holder who lost out when the company went through bankruptcy? (Mon, 17 May 2010 08:17:57 -0700)

Icahn Reopens Bankruptcy Fight for 3 Trump Casinos
Icahn, Beal Bank appeal ruling over 3 Trump casinos in Atlantic City in bankruptcy battle (Mon, 17 May 2010 13:32:06 -0700)

Icahn Appeals Bankruptcy Decision on Trump Casinos
Investor Carl Icahn appealed a bankruptcy court decision to let Donald J. Trump and his bondholder partners take control of three casinos in Atlantic City, New Jersey. (Mon, 17 May 2010 14:35:41 -0700)

GM returns to profit after bankruptcy woes
US auto giant General Motors reported Monday a post-bankruptcy quarterly profit for the first time in three years on the back of a jump in sales and cost cutting measures. (Mon, 17 May 2010 15:30:32 -0700)

GM roars back from bankruptcy
DETROIT -- In less than a year, General Motors Co. has roared back from bankruptcy to a quarterly profit. Now comes the hard part: Sustaining the income and repaying billions of dollars in government aid. (Mon, 17 May 2010 21:25:34 -0700)

Improving your credit after bankruptcy
After bankruptcy, you have to re-establish your credit. Here are a few pointers to get it done right. (Tue, 18 May 2010 03:00:00 -0700)

Improving your credit after bankruptcy
Dear Bankruptcy Adviser, I have read that the first step to improving your credit after bankruptcy is to obtain a credit card or passport loan and pay it off in a timely manner. (Tue, 18 May 2010 04:34:45 -0700)

Bensusan Asks That Prebul Not Be Allowed To Discharge Debt Through Bankruptcy
New York City jazz club mogul Danny Bensusan is asking that his brother-in-law, Joe Prebul, not be allowed to dischrge a debt of over $7 million through bankruptcy court. (Tue, 18 May 2010 05:58:42 -0700)

Citadel Broadcasting Wins Bankruptcy Plan Approval
May 18 (Bloomberg) -- Citadel Broadcasting Corp. , the third-largest radio station owner in the U.S., won court approval to exit bankruptcy over the objections of shareholders who said the company is worth more than executives and bankers assert. (Tue, 18 May 2010 07:10:59 -0700)

Citadel Gets Bankruptcy Reorg Approval
The nation's third largest radio group, Citadel Broadcasting won court approval Monday (May 17) to exit bankruptcy, despite objections from a group of shareholders led by Aurelius Capital Partners. (Tue, 18 May 2010 07:18:13 -0700)

Citadel Broadcasting Wins Bankruptcy Plan Approval
Citadel Broadcasting Corp., the third-largest radio station owner in the U.S., won court approval to exit bankruptcy over the objections of shareholders who said the company is worth more than executives and bankers assert. (Tue, 18 May 2010 13:51:00 -0700)

Magician Steve Wyrick seeks bankruptcy, notes liabilities of $54 million
Las Vegas magician Steve Wyrick voluntarily filed for Chapter 7 bankruptcy liquidation Monday, listing assets of $93,157 against liabilities of $54.355 million. (Tue, 18 May 2010 18:17:48 -0700)

Leaders acknowledge Antioch could face bankruptcy
In study session, specter of bankruptcy mentioned publicly for the first time (Tue, 18 May 2010 22:23:17 -0700)

Leaders acknowledge Antioch could face bankruptcy
ANTIOCH For the first time, city leaders acknowledged the serious possibility that the city could be headed toward bankruptcy if it does not address its budget crisis. (Wed, 19 May 2010 00:26:19 -0700)

Credit card overspending accounts for about half of bankruptcy cases in 2009
SINGAPORE: Almost half of all bankruptcy cases in 2009 stemmed from credit card debts. (Wed, 19 May 2010 05:42:02 -0700)

Ash could push airlines in Europe into mergers, bankruptcy
The plume of volcanic ash that continues to disrupt air travel across Europe may prove the final straw for struggling airlines, forcing many into bankruptcy or seeking partners to survive, aviation experts said. U.K.[...] (Wed, 19 May 2010 06:13:29 -0700)

Elgin Capital to Start Buying U.S. Bankruptcy Loans for CLOs
May 19 (Bloomberg) -- Elgin Capital LLP , a London-based asset manager, said it plans to start buying high-yielding U.S. bankruptcy loans for three of its collateralized loan obligations. (Wed, 19 May 2010 07:40:44 -0700)

Antioch city leaders warn of possible bankruptcy
Antioch city leaders are admitting for the first time the city faces bankruptcy if it doesn't balance its budget. (Wed, 19 May 2010 08:28:00 -0700)

RI bankruptcy numbers hit 11 year high
Bankruptcy filings in Rhode Island have hit a high not seen in more than ten years. (Wed, 19 May 2010 08:42:00 -0700)

Elgin Seeks to Buy U.S. Bankruptcy Loans for CLOs
May 19 (Bloomberg) -- Elgin Capital LLP , a London-based asset manager, said it plans to start buying high-yielding U.S. bankruptcy loans for three of its collateralized loan obligations. (Wed, 19 May 2010 10:10:37 -0700)

Bankruptcy judge postpones hearing until June 3 on Washington Mutual's reorganization plan
WILMINGTON, Del. - Washington Mutual Inc. told a bankruptcy judge on Wednesday that it is close to completing an agreement with the Federal Deposit Insurance Corp. that could pave the way for the bank holding company to emerge from Chapter 11 bankruptcy. (Wed, 19 May 2010 15:59:45 -0700)

Sacramento, Calif., School District Faces Bankruptcy: Report
Sacramento, Calif., School District Faces Bankruptcy: Report (Wed, 19 May 2010 16:05:39 -0700)

UPDATE: Sacramento, Calif., Schools Face Bankruptcy: Report
UPDATE: Sacramento, Calif., Schools Face Bankruptcy: Report (Wed, 19 May 2010 16:06:10 -0700)

Orlando area's consumer-bankruptcy rate soars to record
Personal bankruptcies have roared back to record levels in Central Florida, only a few years after Congress overhauled the nation's bankruptcy law in an attempt to rein in the number of people declaring themselves broke. (Wed, 19 May 2010 21:00:47 -0700)

WaMu says it's close to deal to leave bankruptcy
Washington Mutual Inc. told a bankruptcy judge Wednesday that it is close to completing a deal with the Federal Deposit Insurance Corp. that could pave the way for the bank- holding company to emerge from Chapter 11 bankruptcy. (Thu, 20 May 2010 02:23:45 -0700)

Ash could push airlines in Europe into mergers, bankruptcy
The plume of volcanic ash that continues to disrupt air travel across Europe may prove the final straw for struggling airlines, forcing many into bankruptcy or seeking partners to survive, aviation experts said. U.K.[...] (Thu, 20 May 2010 02:34:17 -0700)

State law bars Central Falls bankruptcy
PROVIDENCE Why didnt Central Falls file for bankruptcy on Wednesday rather than get put into receivership? The short answer: Rhode Island law does not allow it. (Thu, 20 May 2010 05:43:03 -0700)

CITADEL BROADCASTING TO EXIT BANKRUPTCY
Radio conglomerate Citadel Broadcasting is set to exit bankruptcy after nearly six months of reorganizing. (Thu, 20 May 2010 08:31:21 -0700)

Greece avoids bankruptcy with EU aid
ATHENS, Greece Cash-strapped Greece managed to pay off its creditors Wednesday warding off bankruptcy in the nick of time by using billions of euros from the EU-led rescue package aimed at containing the debt crisis. (Thu, 20 May 2010 08:33:04 -0700)

Mining outfit in Utah shuts down, files bankruptcy
A mining outfit in Utah's west desert has shut down operations, furloughed employees and filed for bankruptcy protection after just a year of operation. (Thu, 20 May 2010 15:43:47 -0700)

Mining outfit in Utah shuts down, files bankruptcy
A mining outfit in Utah's west desert has shut down operations, furloughed employees and filed for bankruptcy protection after just a year of operation. Copper King Mining Corp. said Thursday it hopes to emerge stronger from Chapter 11 bankruptcy after... (Thu, 20 May 2010 16:14:11 -0700)

New council member declared bankruptcy
A new Columbus City Council member chosen for his business acumen declared bankruptcy in 2000, ending a venture he said was financed in part through maxed-out credit cards. (Thu, 20 May 2010 19:18:35 -0700)

Day care operator gets year in federal prison over false claims in bankruptcy
A Milwaukee woman who collected more than $540,000 from the state's taxpayer-subsidized child care program was sentenced Thursday to a year in federal prison for hiding some of her day care income from bankruptcy court. (Thu, 20 May 2010 22:37:00 -0700)

Staten Island Civil Court to hold seminar on bankruptcy
STATEN ISLAND, N.Y. -- A free seminar that will provide information on bankruptcy will be held Wednesday from 1 to 2 p.m. in the Richmond County Civil Court. The seminar, hosted by the New York State Courts Access to Justice... (Fri, 21 May 2010 06:24:00 -0700)

Japan?s FOI Files For Bankruptcy
Embattled semiconductor production equipment maker FOI Corp. filed for bankruptcy proceedings in Japan after piling up liabilities totaling around $104 million. (Fri, 21 May 2010 06:53:01 -0700)

Nortek sales fall in 1Q after bankruptcy
PROVIDENCE Home products maker Nortek Inc. said this week its sales were lower in this years first quarter as it continued to rebuild in the wake of the companys bankruptcy restructuring last fall. (Fri, 21 May 2010 07:13:04 -0700)

Bankruptcy lawyer's speech suit runs into Supreme obstacle
An appeals court had good reason this week to reverse a ruling by a U.S. District judge in Connecticut that had invalidated part of a 2005 federal bankruptcy law on First Amendment grounds. Last March, the U.S. Supreme Court rejected similar arguments to the same provision. (Fri, 21 May 2010 08:03:22 -0700)

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