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Home > Bankruptcy News

Bankruptcy News Aug 2010

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Blockbuster appears poised for mid-September bankruptcy filing
Getty ImagesThe Dallas-based company has been warning for almost two years that it might need bankruptcy court protection to reorganize its nearly $1 billion in debt, as it struggles with dwindling cash and a shrinking business hurt by competition and its own store closings. (Mon, 30 Aug 2010 05:46:05 -0700)

Kids Voting chapter files for bankruptcy protection
DAYTON — The region’s chapter of Kids Voting filed for Chapter 7 bankruptcy protection on Friday, Aug. 27, in U.S. Bankruptcy Court.The nonprofit, nonpartisan election education program for school-aged children closed its doors Nov. 6 due to financial difficulties. (Mon, 30 Aug 2010 05:53:24 -0700)

Tronox, Creditors Agree on Framework for Chemical Maker's Bankruptcy Exit
Tronox Inc. said it reached agreement with creditors on the framework for an amended plan that will allow the company to emerge from Chapter 11 bankruptcy in the coming months. (Mon, 30 Aug 2010 06:39:45 -0700)

'Pie' boss files for bankruptcy
American Pie producer Warren Zide has filed for bankruptcy after he was hit with a tax demand for more than $500,000. (Mon, 30 Aug 2010 07:41:15 -0700)

Blockbuster Set to File for Bankruptcy Protection in September
Dallas-based Blockbuster Inc. is most likely planning to file for bankruptcy in September, according to The Dallas Morning News. (Mon, 30 Aug 2010 08:21:45 -0700)

Crowne Plaza Lead Investor: Bankruptcy Filing Was Measure To Protect Mortgage; Hotel Is Strong
The owners of the Crowne Plaza hotel filed for bankruptcy protection as an emergency measure to prevent a "hostile takeover" of the delinquent mortgage, and intend to remain open, the lead investor said. (Mon, 30 Aug 2010 09:57:44 -0700)

Riviera bankruptcy plan includes new equipment, improvements
The Riviera Las Vegas hotel-casino would be spruced up and receive new gaming equipment under its parent company's bankruptcy reorganization plan. Unable to service its approximately $291 million in debt and liabilities, Riviera Holdings Corp. filed for Chapter 11 reorganization in Las Vegas on July 12. (Mon, 30 Aug 2010 10:59:25 -0700)

Blockbuster Bankruptcy?
Reports are out that the movie rental company will file for bankruptcy next month. (Mon, 30 Aug 2010 16:00:21 -0700)

Kids Voting files for bankruptcy
The region’s chapter of Kids Voting filed for Chapter 7 bankruptcy protection on Friday, Aug. 27, in U.S. Bankruptcy Court.The nonprofit, nonpartisan election education program for school-aged children closed Nov. 6 because of financial difficulties. (Mon, 30 Aug 2010 19:01:25 -0700)

Failure to Notify Bankruptcy Court of Discrimination Suit Knocks Out Damages
In a novel approach to judicial estoppel, a federal judge has ruled that a plaintiff in a pregnancy discrimination suit who failed to inform the bankruptcy court of her pending discrimination claims must be barred from seeking any compensatory damages in that case, but should still be allowed to pursue declaratory and injunctive relief. The judge found that complete dismissal would be "a drastic ... (Mon, 30 Aug 2010 21:22:33 -0700)

5 ways to rebuild credit after bankruptcy
Dear Bankruptcy Adviser, What is the best way to start to rebuild your credit after a bankruptcy? No one will give you credit because of bankruptcy. -- Phil (Tue, 31 Aug 2010 04:26:17 -0700)

JAL submits plan to emerge from bankruptcy
NEW YORK (MarketWatch) -- Japan Airlines Corp. on Tuesday submitted a bankruptcy-emergence plan to a Tokyo court, according to The Wall Street Journal. The carrier plans to refinance its current debt of about 300 billion yen by the end of March, cut its workforce by about 16,000 to around 32,600 and scrap 49 unprofitable routes, the newspaper said. Elsewhere, Reuters reported JAL will retire 103 ... (Tue, 31 Aug 2010 05:13:52 -0700)

Visteon Retiree Accord Eases Path to Bankruptcy Exit
Visteon Corp. settled a dispute with its retirees, removing the last major opponent to the auto-parts makers plan to cut $2 billion in debt and exit bankruptcy under the control of its bondholders, a company attorney said today. (Tue, 31 Aug 2010 08:24:50 -0700)

Bankruptcy Court OKs Visteon
A federal judge has confirmed auto parts supplier Visteon's reorganization plan, clearing the way for the company's emergence from bankruptcy. (Tue, 31 Aug 2010 11:59:35 -0700)

Bankruptcy court approves reorganization plan for Visteon Corp.
The reorganization plan for Van Buren Township-based Visteon Corp. was approved today in U.S. Bankruptcy Court in Wilmington, Del. (Tue, 31 Aug 2010 12:20:30 -0700)

Consumer Bankruptcy Costs Climb Sharply
People filing for Chapter 7 and Chapter 13 consumer bankruptcy protection are facing as much as a 55 percent cost increase as one result of the 2005 comprehensive bankruptcy reforms, according to a new study. (Tue, 31 Aug 2010 13:15:07 -0700)

Bankruptcy court approves Visteon Chapter 11 plan
A federal judge confirmed auto parts supplier Visteon's reorganization plan Tuesday, clearing the way for the company's emergence from bankruptcy. (Tue, 31 Aug 2010 14:02:42 -0700)

Villalobos bankruptcy judge is skeptical that state's suit won't get in the way
Judge John Peterson notes that California can't get restitution from former CalPERS official Alfred Villalobos, whom it accuses of influence-peddling, without the Bankruptcy Court's permission. A U.S. Bankruptcy Court judge was skeptical of the California attorney general's efforts Tuesday to keep on track a civil fraud lawsuit against Alfred J.R. Villalobos, a key go-between in arranging ... (Tue, 31 Aug 2010 19:20:07 -0700)

Bankruptcy judge overrules 2nd bid for Bear Island Paper Co.
A bankruptcy court auction of the assets of Bear Island Paper Co. LLC is moving ahead with the company's original stalking-horse bidder agreement in place. U.S. Bankruptcy Judge Kevin R. Huennekens yesterday overruled an objection filed by another investment group that said it would offer more cash for the company. ... (Tue, 31 Aug 2010 21:30:45 -0700)

Bankruptcy plan OKed for Station
RENO, Nev. (AP) - A Reno bankruptcy judge has approved a Station Casinos Inc. reorganization plan for creditors to take an ownership stake in some properties and buy others through an auction. (Tue, 31 Aug 2010 21:38:08 -0700)

Bankruptcy judge blocks California suit against ex-CalPERS official Villalobos
Throwing confusion into California's case against former CalPERS board member Alfred Villalobos, a bankruptcy judge indicated Tuesday he would block the state's lawsuit accusing Villalobos of bribing officials with the pension fund. (Tue, 31 Aug 2010 21:53:58 -0700)

Bankruptcy court OKs Visteon revamp
WILMINGTON, Del.: A federal judge confirmed auto parts supplier Visteon's reorganization plan Tuesday, clearing the way for the company's emergence from bankruptcy. (Tue, 31 Aug 2010 23:38:30 -0700)

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