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Home > Bankruptcy News

Bankruptcy News Oct 2010

Visteon Exits Federal Bankruptcy Court's Protection 16 Months After Filing
Visteon Corp. , once the second- largest U.S. maker of auto parts, emerged from bankruptcy protection today after reducing its debt by about $2.1 billion. (Fri, 01 Oct 2010 14:45:00 -0700)

Visteon Exits Bankruptcy Protection After 16 Months
Visteon Corp., once the second- largest U.S. maker of auto parts, emerged from bankruptcy protection today after reducing its debt by about $2.1 billion. (Fri, 01 Oct 2010 15:10:59 -0700)

Auto supplier Visteon emerges from bankruptcy
After more than a year in bankruptcy court, auto supplier Visteon Corp. emerged from Chapter 11 protection on Friday with $2.1 billion less debt on its balance sheet. (Fri, 01 Oct 2010 15:28:52 -0700)

Revitalized Visteon emerges from bankruptcy
Revitalized Visteon emerges from bankruptcy (Fri, 01 Oct 2010 19:50:47 -0700)

McMahons' bankruptcy a murky chapter in her rags-to-riches tale
WWE Chairman Vince McMahon and his wife Linda McMahon, CEO of World Wrestling Entertainment, Inc., attend the 134th running of the Kentucky Derby at Churchill Downs on May 3, 2008 in Louisville, Kentucky. (Photo by Jeff Gentner/Getty Images) 7/25/10 GT photo = Vince. (Fri, 01 Oct 2010 21:11:57 -0700)

Visteon's bankruptcy exit signals end of era
Visteon exited Chapter 11 bankruptcy Friday as a drastically smaller company, and now, like many other suppliers, it is in better financial shape after closing plants and cutting debt. (Sat, 02 Oct 2010 02:17:40 -0700)

Visteon's bankruptcy exit signals end of era
Visteon exited Chapter 11 bankruptcy Friday as a drastically smaller company, and now, like many other suppliers, it is in better financial shape after closing plants and cutting debt. (Sat, 02 Oct 2010 02:26:16 -0700)

Bankruptcy looms for developer
Embattled property developer Nigel McKenna's bid to stave off bankruptcy proceedings has failed as Fletcher Construction looks set to formally file for his bankruptcy within days. (Sun, 03 Oct 2010 15:51:39 -0700)

Bankruptcy looms for developer
Embattled property developer Nigel McKenna's bid to stave off bankruptcy proceedings has failed as Fletcher Construction looks set to formally file for his bankruptcy within days. (Sun, 03 Oct 2010 16:01:02 -0700)

McMahons' bankruptcy a murky chapter in her rags-to-riches tale
WWE Chairman Vince McMahon and his wife Linda McMahon, CEO of World Wrestling Entertainment, Inc., attend the 134th running of the Kentucky Derby at Churchill Downs on May 3, 2008 in Louisville, Kentucky. (Photo by Jeff Gentner/Getty Images) 7/25/10 GT photo = Vince. (Sun, 03 Oct 2010 16:05:48 -0700)

Claim Jumper, DBSD, US Fidelis, Naknek Electric, Blackstone: Bankruptcy
Claim Jumper Restaurants LLC, the operator of a chain of 45 western-themed restaurants in eight states, is hoping for a successful auction when the operation goes up for bid on Oct. 28. (Sun, 03 Oct 2010 21:24:54 -0700)

Bankruptcy Filings Are up 8%; Persels & Associates Outlines What Documents Consumers Should Have Before They Speak ...
The latest national data shows this year's bankruptcy filings as of August at more than 1 million -- up 8 percent from the same period in 2009, according to the American Bankruptcy Institute, a Washington, D.C.-based research and information organization. (Mon, 04 Oct 2010 06:01:00 -0700)

Personal Bankruptcy Filings Jump
Personal filings for bankruptcy increased in September, pushing the total number of bankruptcies this year to nearly 1.2 million. (Mon, 04 Oct 2010 09:06:30 -0700)

Consumer bankruptcy filings climb 11%
SAN FRANCISCO (MarketWatch) -- U.S. consumer bankruptcy filings rose 11% in the first nine months of this year, versus the same period in 2009, the American Bankruptcy Institute said Monday, citing data from the National Bankruptcy Research Center. Filings totaled 1,165,172 nationwide during the first nine months of 2010, compared to 1,046,449 total consumer filings during the same period a year ... (Mon, 04 Oct 2010 09:18:03 -0700)

Tribune Co. bankruptcy talks continue
The battling parties in Tribune Co.’s fractious bankruptcy case planned to sit down Monday for another day of mediation aimed at forging a settlement of legal claims surrounding the company’s 2007 leveraged buyout. (Mon, 04 Oct 2010 09:41:53 -0700)

Elena Kagan Begins With Bankruptcy
Justice Elena Kagan began her Supreme Court tenure in bankruptcy -- bankruptcy law, that is. The court opened its annual term with the kind of workaday dispute that makes up far more of the docket than the constitutional barnburners the justices occasionally entertain. (Mon, 04 Oct 2010 10:52:11 -0700)

Cities Seek State Havens to Avoid Bankruptcy
A growing number of towns and cities are seeking refuge in programs that many states provide as alternatives to federal bankruptcy court. (Mon, 04 Oct 2010 18:05:49 -0700)

Lehman Sale Blank Check May Haunt Bankruptcy Judge in Barclays Deal Trial
Two years ago, U.S. Bankruptcy Judge James Peck in Manhattan gave lawyers a blank check to complete a deal with Barclays Plc to salvage the remains of Lehman Brothers Holdings Inc. and prevent further financial catastrophe. (Mon, 04 Oct 2010 21:24:44 -0700)

Car Deduction, Tousa, Tribune, International Garden, Loehmann: Bankruptcy
The U.S. Supreme Court heard oral arguments yesterday on the first of two bankruptcy cases to be decided in the term that began this week. The argument was the first heard by Elena Kagan since she was sworn in as an associate justice on the court. (Mon, 04 Oct 2010 22:00:05 -0700)

Bankruptcy Expert: Judge's Rulings Create Hurdles For Creditors
When the bankruptcy reform act became law back in 2005, consumer groups decried the changes as a giveaway to powerful credit-card companies and other creditors. But thanks to a series of rulings by the judge in the Circuit City bankruptcy, the act is being interpreted in some surprising waysâand not always to the benefit of creditors, writes Terrence Corrigan, Managing Director of Abacus ... (Tue, 05 Oct 2010 06:30:00 -0700)

Is filing for bankruptcy the right option for you?
Thousands of Tennesseans are filing for bankruptcy, but it's a decision that will stay with you for years. How to know if it's your best option. (Tue, 05 Oct 2010 15:00:21 -0700)

Prince Music Theater files for bankruptcy protection, stopping sheriff's sale
Just hours before a sheriff's sale was set to begin Tuesday, owners of the Prince Music Theater on Chestnut Street filed for bankruptcy protection, staying the sale and preventing Toronto-headquartered TD Bank from seizing the Center City performance venue. (Wed, 06 Oct 2010 00:42:09 -0700)

Prince Music Theater files for bankruptcy protection, stopping sheriff's sale
Just hours before a sheriff's sale was set to begin Tuesday, owners of the Prince Music Theater on Chestnut Street filed for bankruptcy protection, staying the sale and preventing Toronto-headquartered TD Bank from seizing the Center City performance venue. (Wed, 06 Oct 2010 01:11:14 -0700)

Canyon’s Julis sees hope in Tribune bankruptcy
Tribune Co.’s bankruptcy re-organization may generate big returns for debt holders of the newspaper company, says Mitch Julis, head of credit-focused hedge fund firm Canyon Partners. (Wed, 06 Oct 2010 19:01:00 -0700)

Tribune Co. bankruptcy mediation founders
Rival creditor groups preparing restructuring plans; New York Times story a black eye for company management Mediation talks broke down once again in the Tribune Co. bankruptcy case this week, sending rival creditor groups back to their corners to prepare competing restructuring plans for the hobbled media conglomerate. (Wed, 06 Oct 2010 19:31:10 -0700)

Innkeepers, Old GM, Agri-Best, National Envelope, Cynergy Data: Bankruptcy
The reorganization of Innkeepers USA Trust , a real estate investment trust, is at the cutting edge of cases analyzing when a bankruptcy judge isn’t compelled to appoint an examiner. The bankruptcy judge also said there’s not a substantial likelihood that preferred shareholders will receive a meaningful distribution. (Wed, 06 Oct 2010 21:30:25 -0700)

Toni Braxton files for bankruptcy, owes $50m
Creditors include Screen Actors Guild (Thu, 07 Oct 2010 06:43:04 -0700)

Mortgage Rates, Bankruptcy: Hot Trends
'Mortgage rates,' bankruptcy, 'consumer credit,' 'Back-to-school shopping,' Cadillac SRX, 'UPS jobs,' 'clean energy' and Cisco Systems are the trending topics on Google and Yahoo. (Thu, 07 Oct 2010 06:43:52 -0700)

Toni Braxton files for second bankruptcy in LA
Toni Braxton has filed for bankruptcy a second time, citing millions of dollars in debt and financial problems exacerbated by a heart condition that forced her to cancel a series of Las Vegas shows. (Thu, 07 Oct 2010 12:47:00 -0700)

Spyglass proposes MGM reorganization plan, including prepackaged bankruptcy [updated]
[Update, 3:35 p.m.: MGM announced that under the proposed plan, its approximtaely 100 lenders will exchange their more than $4 billion in debt for 95.3% of the reorganized studio following its exit from bankruptcy. Spyglass Entertainment and two of its... (Thu, 07 Oct 2010 14:03:51 -0700)

Toni Braxton files for bankruptcy
Grammy-award-winning singer Toni Braxton files for bankruptcy for the second time, her lawyer says. (Fri, 08 Oct 2010 01:14:50 -0700)

MGM studio prepares for prepackaged bankruptcy
Metro-Goldwyn-Mayer Inc. said it has begun seeking its creditors' approval on a prepackaged bankruptcy plan in which they will exchange more than $4 billion in debt for equity in a new company that has rights to the James Bond franchise and the upcoming two-part movie series "The Hobbit." (Fri, 08 Oct 2010 03:05:36 -0700)

MGM seeks lenders' OK for pre-packaged bankruptcy
Film Studio Metro-Goldwyn-Mayer proposed a pre-packaged bankruptcy plan on Thursday that would wipe out $4 billion in debt and put the founders of Spyglass Entertainment at the helm. (Fri, 08 Oct 2010 04:16:21 -0700)

Exclusive: Bankruptcy of Edwards challenger Bill Flores' business cost taxpayers $7.5 million
Although the retired Bryan energy executive has said all creditors were fully repaid with interest, court records show otherwise. The bankruptcy case could give Flores' critics an opening to undermine his anti-bailout mantra. (Fri, 08 Oct 2010 07:35:56 -0700)

Exclusive: Bankruptcy of Edwards challenger Bill Flores' business cost taxpayers $7.5 million
9:31 AM CT Although the retired Bryan energy executive has said all creditors were fully repaid with interest, court records show otherwise. The bankruptcy case could give Flores' critics an opening to undermine his anti-bailout mantra. (Fri, 08 Oct 2010 07:37:40 -0700)

Philadelphia newspapers emerge from bankruptcy
The media landscape’s already changing in Philadelphia as new ownership of the city’s two main dailies ushers in management changes. (Fri, 08 Oct 2010 08:31:00 -0700)

Harrisburg, Pa., seeks bankruptcy attorneys
The City Council of Harrisburg, the cash-poor capital of Pennsylvania, on Friday advertised for attorneys who could advise it on whether to file for bankruptcy or enroll in the state "distressed cities" program. (Fri, 08 Oct 2010 16:08:15 -0700)

Bankruptcy of Edwards challenger Bill Flores' business cost taxpayers $7.5 million
By DAVE MICHAELS / The Dallas Morning News [email protected] / The Dallas Morning News Todd J. Gillman contributed to this report. (Sat, 09 Oct 2010 00:49:23 -0700)

Boston Generating Sale to Constellation Advances After Bankruptcy Ruling
Boston Generating LLC’s plan to sell its power plants to Constellation Energy Group Inc. for $1.1 billion moved ahead after a bankruptcy court judge approved an auction of the assets. (Sat, 09 Oct 2010 13:39:42 -0700)

In our time of bust, a bankruptcy boom
About 17,365 individuals in Southwest Florida have filed for bankruptcy protection from creditors since 2008 — a 140 percent increase from the 7,216... (Sat, 09 Oct 2010 22:14:13 -0700)

Majority of Jefferson County commissioners now considering bankruptcy option in sewer case
Say they are disappointed in Wall Street negotiations. (Sun, 10 Oct 2010 03:39:19 -0700)

Number of bankruptcy filings continues to increase
Despite strict bankruptcy law, there are now a dozen of bankruptcy petitions filed in federal court so far this year, surpassing eight such petitions filed last year. (Sun, 10 Oct 2010 07:04:14 -0700)

Washington area bankruptcy filings for the week beginning Oct. 11
These firms recently filed with the U.S. Bankruptcy Court's local court clerk's offices. (Sun, 10 Oct 2010 15:41:00 -0700)

Bankruptcy Can Derail D&O Insurance Benefits
The recent financial crisis impacted all of us in some way or another and led many corporations to file bankruptcy. It also exposed directors and officers of corporations and corporations themselves to lawsuits arising from the performance of their duties as an officer and director or for securities claims. (Sun, 10 Oct 2010 21:05:00 -0700)

General Growth, American Safety, American Apparel, Inquirer: Bankruptcy
General Growth Properties Inc. received approval from the bankruptcy judge on Oct. 8 for financing to accompany approval of the Chapter 11 plan scheduled for an Oct. 21 confirmation hearing. For Bloomberg coverage of the hearing, click here. (Sun, 10 Oct 2010 21:39:52 -0700)

Number of bankruptcy filings continues to increase
Despite strict bankruptcy law, there are now a dozen of bankruptcy petitions filed in federal court so far this year, surpassing eight such petitions filed last year. (Mon, 11 Oct 2010 07:07:05 -0700)

Bankruptcy Watch: 5 Risky Auto Supplier Stocks
Read on for five auto supplier stocks that are still at risk of going bankrupt in the coming year according to the Altman Z-Score. (Mon, 11 Oct 2010 10:58:37 -0700)

Bankruptcy filings fall in eastern N.C.
The bankruptcy court that covers North Carolina from the Triangle east to the coast reports, that for the first time years, bankruptcy filings actually dropped in September. Bankruptcy filings were down about six percent from a year ago. (Mon, 11 Oct 2010 13:49:42 -0700)

Bankruptcy surge in valley appears to have crested
The surge in bankruptcy filings that began nearly three years ago has finally crested although some attorneys expect it may only be a break in the action. (Mon, 11 Oct 2010 16:03:04 -0700)

Resort founder claims bankruptcy judge is biased
Real estate mogul Tim Blixseth is alleging that a judge who issued a $40 million fraud judgment against him is biased and should be removed from the case. (Mon, 11 Oct 2010 16:12:53 -0700)

WaMu, Thompson Publishing, Leslie, Point Blank: Bankruptcy
Most if not all of the Washington Mutual Inc. examiner’s report should be filed publicly on Nov. 1, as the result of procedures laid down by the bankruptcy judge for resolving confidentiality disputes. (Mon, 11 Oct 2010 21:24:56 -0700)

4 ways to save your home during bankruptcy
With lenders reluctant to modify mortgages, one of these options may help you dodge eviction. (Tue, 12 Oct 2010 03:00:00 -0700)

Bankruptcy order against Oyston annulled
Blackpool have issued a statement confirming the bankruptcy order made against former chairman Karl Oyston has been annulled. (Tue, 12 Oct 2010 10:21:51 -0700)

Oyston bankruptcy order annulled
The bankruptcy order made against former Blackpool chairman Karl Oyston has been annulled, the club announces. (Tue, 12 Oct 2010 10:41:30 -0700)

Tribune Co. reports progress in resolving bankruptcy
The media company announces that it has reached a settlement with a group of senior lenders, bringing it closer to ending its nearly 2-year-old bankruptcy. But several key junior creditor groups, including Aurelius Capital Management, are not part of the agreement. Tribune Co. and several of its most important creditor groups announced a broad new settlement Tuesday that brings the company ... (Tue, 12 Oct 2010 10:45:10 -0700)

Tribune widens deal to help it exit bankruptcy
Tribune Co said on Tuesday it reached agreement with more parties to its bankruptcy as it tries to bring its publishing and broadcasting business out of Chapter 11. (Tue, 12 Oct 2010 11:11:10 -0700)

MGM’s Challenge in a Prepackaged Bankruptcy
Stephen J. Lubben writes about bankruptcy and debt issues for DealBook. A few weeks ago, I noted that Blockbuster ’s bankruptcy filing was the least surprising development in Chapter 11 land, save for perhaps Metro-Goldwyn-Mayer ’s much-anticipated trip to Federal Bankruptcy Court in either Delaware or New York. (Tue, 12 Oct 2010 11:42:41 -0700)

4 Ways to Save Your Home During Bankruptcy
With lenders reluctant to modify mortgages, one of these options may help you dodge eviction. (Tue, 12 Oct 2010 14:20:02 -0700)

Tribune, Blockbuster, Mesa, Thompson, Barzel, Point Blank: Bankruptcy
Tribune Co. won support from the official creditors’ committee for a revised reorganization plan that builds on the settlement with lenders Oaktree Capital Management LP and Angelo Gordon & Co. announced in September. (Tue, 12 Oct 2010 21:39:44 -0700)

Consolidated Horticulture, Supplier to Home Depot, Files for Bankruptcy
Consolidated Horticulture Group LLC, a nursery operator that supplies Home Depot Inc. , Lowe’s Cos. and Wal-Mart Stores Inc. , filed for bankruptcy protection from creditors along with its affiliate Hines Nurseries . (Wed, 13 Oct 2010 07:29:45 -0700)

O.C. nursery files Chapter 11 bankruptcy
Hines Nurseries LLC in Irvine announced today that it filed for Chapter 11 bankruptcy protection after getting hit by a drop in consumer demand for plants and shrubs combined with increases in production and distribution costs. The company said it... (Wed, 13 Oct 2010 16:30:35 -0700)

Thompson, Bear Island, Trico, St. Vincent, Tribune, Daufuskie: Bankruptcy
Secured lenders to Thompson Publishing Holding Co. won’t be able to control the auction for the publisher of newsletters and loose-leaf services, as the result of rulings by U.S. Bankruptcy Judge Peter Walsh at a hearing this week. (Wed, 13 Oct 2010 21:39:42 -0700)

Takefuji Bankruptcy Spurs Claims for Repayments of Overcharged Interest
Acom Co . and Promise Co . said they’ve seen an increase in customer inquiries about repayments of overcharged interest since rival consumer lender Takefuji Corp. sought bankruptcy protection two weeks ago. (Wed, 13 Oct 2010 22:24:56 -0700)

CC Brown Law How to hire a Bankruptcy Attorney
CC Brown Law: If you are deciding to file bankruptcy, it is best to consult with a bankruptcy attorney to go over your options. There are different kinds of thought on which are the best ways to hire a bankruptcy attorney if you have to file bankruptcy. Although there are numerous ways, the one thing that many people dont debate about is that using a bankruptcy attorney is a better idea than ... (Thu, 14 Oct 2010 12:20:10 -0700)

Bankruptcy surge in valley appears to have crested
The surge in bankruptcy filings that began nearly three years ago has finally crested although some attorneys expect it may only be a break in the action. (Thu, 14 Oct 2010 13:44:54 -0700)

Filing for bankruptcy in US may not protect individual in Ireland - expert
FILING FOR bankruptcy in the United States does not necessarily protect an individual from facing bankruptcy proceedings in Ireland as well, according to an expert. (Thu, 14 Oct 2010 17:29:09 -0700)

Workflow, Movie Gallery, Capmark, CBGB, South Bay Expressway: Bankruptcy
Arnold & Porter LLP is ineligible to serve as a special counsel for Workflow Management Inc. , according to objections lodged by the U.S. Trustee and the first- and second-lien lenders. (Fri, 15 Oct 2010 03:44:55 -0700)

Bankruptcy lawyer charged with stealing from dozens of clients
Syracuse, NY - A Syracuse lawyer accused of taking money from dozens of bankruptcy clients and never doing any work was arrested today on a sealed indictment. Christopher Chadick, 58, was arraigned late this morning before Onondaga County Judge Joseph... (Fri, 15 Oct 2010 09:25:16 -0700)

Call for bankruptcy law reform
Bankruptcy laws need to be updated to allow people who can't pay their mortgages a fresh start, the financial regulator said today. (Fri, 15 Oct 2010 10:14:58 -0700)

Lehman bankruptcy a $1 billion payday for advisers
When Lehman Brothers collapsed, a whole lot of money vanished with it. Its bankruptcy, on the other hand, just keeps on paying. (Fri, 15 Oct 2010 14:08:53 -0700)

Lehman bankruptcy earns advisers $1-billion fees
When Lehman Brothers collapsed, a whole lot of money vanished with it. Its bankruptcy, on the other hand, just keeps on paying. Lehman's record-breaking bankruptcy has produced a staggering $1 billion in fees -- doled out to legions of lawyers, advisers and bankers over the past two years. (Sat, 16 Oct 2010 11:39:40 -0700)

Bankruptcy a bad option but sometimes best
Unemployed financial worker drowning in more than $180,000 in debt. Dear Liz: When would you say filing for bankruptcy would be necessary, or is it ever? I have approximately $30,000 in credit card debt, $50,000 in student loans and a $104,000 mortgage. I'm unemployed and can't find a job that would cover day care for a toddler as well as after-school care for a special-needs child. However, my ... (Sun, 17 Oct 2010 00:16:23 -0700)

RPT-Lehman bankruptcy a $1 billion payday for advisers
(Repeats Oct. 15 story with no changes) (Sun, 17 Oct 2010 05:00:14 -0700)

Lehman bankruptcy pays out US$1b in fees
NEW YORK: When Lehman Brothers collapsed, a whole lot of money vanished with it. Its bankruptcy, on the other hand, just keeps on paying. Lehman's record-breaking bankruptcy has produced a staggering US$1 billion (US$1 = RM3.09) in fees - doled out to legions of lawyers, advisers and bankers over the past two years. The financial firm has been paying out, on average, more than US$40 million a ... (Sun, 17 Oct 2010 08:59:26 -0700)

Bankruptcy petitions for Oct. 18
The following are recent business bankruptcy petitions filed in U.S. Bankruptcy Court: Case Number: 10-36806 D&L Heating & Cooling Inc., Chesterfield County Assets: $11,960 Liabilities: $255,342 Filing: Chapter 7 (liquidation)Case Number: 10-36829 Piedmont Construction I LLC, Richmond Assets: $1,000,001 to $10 million Liabilities: $100,001 to $500,000 Filing: Chapter 11 (reorganization)Case ... (Sun, 17 Oct 2010 21:11:50 -0700)

Old General Motors, Blockbuster, Schutt, Gems TV, Car Expenses: Bankruptcy
The creditors’ committee for old General Motors Corp. will face off in bankruptcy court on Oct. 21 against the U.S. Treasury Department over the question of who is entitled to the fruits of $1.5 billion in lawsuits that the committee intends to bring. (Sun, 17 Oct 2010 21:24:42 -0700)

Nevada's residents remain most likely to file for bankruptcy
Nevadans, hard hit by the recession, hold the dubious distinction of being most likely to file for bankruptcy, court records show (Mon, 18 Oct 2010 06:34:57 -0700)

Five Signs You're Headed for Bankruptcy
U.S. consumer bankruptcies are on an upward trend, with 1.6 million filings estimated to come by the end of 2010. That puts bankruptcy filings at their highest level since 2005, according to the American Bankruptcy Institute. Back then Congress sought to limit bankruptcies through the passage of the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA). But bankruptcies have soared ... (Mon, 18 Oct 2010 10:44:22 -0700)

Corrected: Lehman bankruptcy a $1 billion payday for advisers
(In Oct. 15 story, corrects to show that Lehman expects to have its bankruptcy plan of reorganization approved in the first quarter of 2011, rather than to emerge from bankruptcy in that quarter, paragraph 11; corrects to show that Lamco will be an asset manager but will not hold any assets, paragraph 12) (Mon, 18 Oct 2010 12:37:45 -0700)

Crystal Cathedral files Chapter 11 bankruptcy
Crystal Cathedral Ministries, an Orange County landmark and megachurch founded by television evangelist Robert H. Schuller, filed for Chapter 11 bankruptcy Monday morning. (Mon, 18 Oct 2010 14:39:14 -0700)

Lehman bankruptcy fees top $1 billion
Lehman Brothers Holdings Inc on Monday said it has paid more than $1 billion to its lawyers, consultants and financial advisers since filing the largest U.S. bankruptcy two years ago. (Mon, 18 Oct 2010 14:55:57 -0700)

Crystal Cathedral megachurch files for bankruptcy
Crystal Cathedral, the megachurch birthplace of the televangelist show "Hour of Power," filed for bankruptcy Monday in Southern California after struggling to emerge from debt that exceeds $43 million. (Mon, 18 Oct 2010 18:11:16 -0700)

Megachurch Crystal Cathedral Ministries seeks bankruptcy protection
The Southern California megachurch Crystal Cathedral Ministries will enter bankruptcy, as it faces lawsuit-filing creditors and a rapid decline in donations because of the recession, church officials announced Monday. (Mon, 18 Oct 2010 20:28:01 -0700)

Lehman Bankruptcy Adviser Fees Top $1 Billion in Two Years Since Collapse
Lehman Brothers Holdings Inc. paid its lawyers and managers $51.8 million in September, putting total advisers’ fees over the billion-dollar mark after 24 1/2 months in bankruptcy court, according to a court filing. (Mon, 18 Oct 2010 21:24:28 -0700)

Crystal Cathedral Ministries Seeks Bankruptcy, Blames Recession
Crystal Cathedral Ministries, the Southern California megachurch founded by television evangelist Robert Schuller, filed for bankruptcy court protection from its creditors, which are owed as much as $100 million. (Mon, 18 Oct 2010 21:29:55 -0700)

WaMu, Lehman, Orleans Homebuilders, Rock J.V., Point Blank: Bankruptcy
Even though the examiner for Washington Mutual Inc. won’t issue his report until Nov. 1, U.S. Bankruptcy Judge Mary F. Walrath ruled at a hearing yesterday that she will approve the disclosure statement explaining the Chapter 11 plan after final changes are made. (Mon, 18 Oct 2010 21:30:35 -0700)

Garland country club files for bankruptcy
A Garland country club that had been posted for foreclosure has filed for bankruptcy. (Tue, 19 Oct 2010 00:30:11 -0700)

Crystal Cathedral Enters Bankruptcy, Blames Recession
Crystal Cathedral Ministries, the Southern California megachurch founded by television evangelist Robert Schuller, filed for bankruptcy court protection from its creditors owed as much as $100 million. (Tue, 19 Oct 2010 14:06:59 -0700)

TerreStar, Sunset Village, Upper Market Place, Cynergy Data: Bankruptcy
TerreStar Networks Inc. , a provider of mobile and Internet communications services, filed for bankruptcy in New York, saying it owes creditors more than $1 billion. (Tue, 19 Oct 2010 21:54:45 -0700)

Judge approves settlement in US Fidelis bankruptcy
The brothers who own the Wentzville-based firm would surrendertheir fortunes. (Wed, 20 Oct 2010 18:33:52 -0700)

Law Firm Under Fire For Mistakes Made On Bankruptcy Petitions
Bankruptcy filings are soaring in the Chicago area and more people are looking for legal help from low-cost law firms. CBS 2 Investigator Pam Zekman reports on mistakes made by a popular law firm. (Wed, 20 Oct 2010 19:59:17 -0700)

Petra Offshore Fund, REIT Unit File for Bankruptcy in New York
Petra Offshore Fund LP, along with its Petra Fund REIT unit, filed for Chapter 11 bankruptcy court protection in New York. (Wed, 20 Oct 2010 21:22:09 -0700)

General Motors, EarthRenew, Cello Energy, Lehman, H&R Block: Bankruptcy
General Motors Corp. ’s bankruptcy estate seeks approval of a settlement that would set aside $773 million of U.S. money to resolve environmental claims by the federal government and 14 states. (Wed, 20 Oct 2010 21:31:08 -0700)

Cemetery owner in bankruptcy
A bankruptcy judge Tuesday ordered that Robert Ray Crouch's King George County cemetery business be dissolved rather than reorganized as Crouch had requested. Also at the hearing, an investigator with the state board that regulates cemeteries testified that Crouch illegally withdrew money from certain funds and didn't put money into other accounts as mandated by state law.... (Wed, 20 Oct 2010 22:22:29 -0700)

General Growth Bankruptcy Plan Objections Have Been Resolved, Lawyer Says
All objections to General Growth Properties Inc.’s bankruptcy plan have been resolved, according to Marcia Goldstein , a lawyer for the company. (Thu, 21 Oct 2010 08:39:46 -0700)

General Growth Bankruptcy Restructuring Plan Approved
General Growth Properties Inc., the second-largest mall owner in the U.S., won court approval of the last stage of its restructuring, a year and a half after filing the biggest real estate bankruptcy in U.S. history. (Thu, 21 Oct 2010 11:07:19 -0700)

General Growth cleared to exit bankruptcy
General Growth Properties Inc's reorganization plan was approved on Thursday, paving the way for the mall operator to exit bankruptcy a year and a half after it was brought to its knees under billions in debt it could not refinance. (Thu, 21 Oct 2010 11:40:57 -0700)

General Growth Ready to Emerge From Bankruptcy
General Growth Properties reorganization plan was approved , paving the way for the mall operator to exit bankruptcy. (Thu, 21 Oct 2010 12:17:35 -0700)

Chemtura Bankruptcy Judge Confirms Chemical Maker's Reorganization Plan
Chemtura Corp. ’s reorganization plan was approved by a bankruptcy judge who set aside shareholders’ arguments that the chemical maker was worth more than a $2.05 billion estimate determined by an adviser. (Thu, 21 Oct 2010 21:09:42 -0700)

Scotia-Palco, General Growth, Tousa, Tamarack, Claim Jumper: Bankruptcy
The U.S. Court of Appeals in New Orleans penned a second important opinion this week in the completed reorganization of Scotia Pacific Co. and affiliate Pacific Lumber Co. , telling purchasers of bankrupt companies that they may end up paying more than they bargained. (Thu, 21 Oct 2010 21:24:42 -0700)

Shops at Fallen Timbers owner's plan to exit bankruptcy accepted
ASSOCIATED PRESS General Growth Properties Inc. said Thursday a bankruptcy judge has approved its reorganization plan, clearing the way for the nation's second-largest shopping mall owner to emerge from Chapter 11 bankruptcy protection early next month. Included in the bankruptcy-emerging company's assets is the Shops at Fallen Timbers in the Toledo suburb of Maumee. The $125 million outdoor ... (Thu, 21 Oct 2010 22:59:17 -0700)

Biggest real estate bankruptcy ending
General Growth Properties Inc. said a bankruptcy judge has approved its reorganization plan, clearing the way for the nation’s second-largest shopping mall owner to emerge from Chapter 11 protection. (Fri, 22 Oct 2010 04:00:05 -0700)

Bankruptcy court clears plan for General Growth
LOS ANGELES » General Growth Properties Inc. said yesterday a bankruptcy judge has approved its reorganization plan, clearing the way for the nation's second-largest shopping mall owner to emerge from Chapter 11 bankruptcy protection early next month. (Fri, 22 Oct 2010 04:41:08 -0700)

General Growth Cleared to Exit Bankruptcy
The mall operator's  reorganization plan was approved Thursday. (Fri, 22 Oct 2010 07:02:44 -0700)

Tribune Co. files new plan to end bankruptcy stint
Tribune Co. has submitted a revised reorganization plan in the latest attempt to end its nearly two-year stint in bankruptcy protection. (Fri, 22 Oct 2010 21:23:32 -0700)

Tribune to detail bankruptcy plan, but fights loom
Newspaper publisher Tribune Co. is expected to unveil a plan on Friday to settle billions of dollars in debts and end its two-year bankruptcy, but it still faces some potentially nasty legal fights. (Fri, 22 Oct 2010 21:56:27 -0700)

Tribune Co. CEO Resigns, New Bankruptcy Plan Filed
Tribune Co. CEO Randy Michaels resigned Friday amid tales of raunchy behavior as one of America's biggest media companies looked to shift attention back to its efforts to emerge from bankruptcy protection. Hours later, the company filed its latest reorganization plan in court. (Fri, 22 Oct 2010 22:47:19 -0700)

Tribune Co. submits bankruptcy exit plan
CHICAGO, Oct. 23 (UPI) -- The Tribune Co. said Saturday it had submitted a bankruptcy exit plan to the federal District Court in Delaware that would keep its operations intact. (Sat, 23 Oct 2010 10:06:06 -0700)

Bankruptcy judge to approve US Fidelis settlement
ST. LOUIS (AP) -- A federal bankruptcy judge rejected Missouri's objections and said he would sign off on a proposed settlement in the bankruptcy case of a company that claimed to be the nation's top marketer of auto-service contracts. (Sat, 23 Oct 2010 23:27:46 -0700)

Senior bankruptcy escalating in US
A recent study shows that an increasing number of senior Americans are declaring bankruptcy mainly due to their excessive use of credit cards. (Sun, 24 Oct 2010 10:37:26 -0700)

Trico, Sex.com, Tronox, Lehman, Tousa, Adelphia: Bankruptcy
Trico Marine Services Inc. , a provider of support vessels for the offshore oil and gas industry, will have opposition at today’s hearing for final approval of $35 million of secured credit supplied by Tennenbaum Capital Partners LLC. Opposition comes from two funds affiliated with Arrowgrass Capital Partners. (Sun, 24 Oct 2010 21:24:42 -0700)

Bankruptcy hits 7 a day in Lothians
Around seven people were declared bankrupt every day in the Lothians over the last two years, new figures show. (Mon, 25 Oct 2010 03:13:13 -0700)

For Retirees, Bankruptcy a Growing Issue
An increasing number of Americans aged 65 and older are declaring bankruptcy; here's why. (Mon, 25 Oct 2010 10:27:59 -0700)

Tribune, Refco, Point Blank, Moo Town, Carefree, Crestwood: Bankruptcy
The Tribune Co. examiner’s report ended up costing $12 million when the bankruptcy judge on Oct. 22 approved final compensation for examiner Kenneth N. Klee , his two law firms and his financial advisers. (Mon, 25 Oct 2010 21:25:02 -0700)

How Close Is The City Of Tulsa To Declaring Bankruptcy?
City of Tulsa's legal department says there is a rarely used section of bankruptcy law, called Chapter 9, which does allow a city to file for bankruptcy protection with state approval. (Tue, 26 Oct 2010 03:57:18 -0700)

CIT Group Posts Quarterly Profit on Bankruptcy Accounting Gains
CIT Group Inc., the business lender led by John A. Thain, reported a third consecutive quarterly profit, beating analysts’ estimates, as it booked accounting gains stemming from last year’s bankruptcy reorganization. (Tue, 26 Oct 2010 04:20:21 -0700)

Bankruptcy Filings Outpace 2009 Levels
Wisconsin residents overwhelmed by debt continue to file for bankruptcy at a faster pace than last year. (Tue, 26 Oct 2010 06:29:25 -0700)

Bankruptcy pushes MGM toward Spyglass deal
Bankruptcy: MGM favors a plan calling for Spyglass Entertainment chiefs Gary Barber and Roger Birnbaum to take over a significantly slimmed down MGM following a prepackaged bankruptcy. (Tue, 26 Oct 2010 07:14:12 -0700)

Bankruptcy, IRA Accounts: Hot Trends
Bankruptcy and IRA accounts are the trending topics on Google and Yahoo. (Tue, 26 Oct 2010 07:58:37 -0700)

Bankruptcy Rising Among Americans 65 and Older
Bankruptcy filings have been growing among Americans aged 65 and older, according to a study. (Tue, 26 Oct 2010 10:17:51 -0700)

Blockbuster Law Firm Weil Gotshal Denies Conflict in Work on Bankruptcy
Blockbuster Inc. ’s bankruptcy counsel, Weil Gotshal & Manges LLP , said its work for film studios doesn’t create a conflict with its representation of the movie-rental company, as an investor claims. (Tue, 26 Oct 2010 11:24:50 -0700)

Blockbuster, Tousa, Truvo, Urban Brands, Connector, Icahn-MGM: Bankruptcy
Blockbuster Inc. faces off in court today against a creditor who claims the movie-rental chain’s bankruptcy lawyers, Weil Gotshal & Manges LLP , are disqualified to serve as company counsel. (Tue, 26 Oct 2010 21:30:47 -0700)

Facing $10.4 million judgment, Baldwin County energy company files for bankruptcy protection
Citing a bankruptcy filing, a federal judge here put a halt this week to proceedings in a pair of civil lawsuits against a Baldwin County alternative energy company that a jury hit with a $10.4 million verdict last year. (Wed, 27 Oct 2010 05:40:48 -0700)

Resolution Rules and Bankruptcy Reality
Stephen J. Lubben writes about bankruptcy and debt issues for DealBook. The Federal Deposit Insurance Corporation is moving to exercise its newly granted authority under the Dodd-Frank Act to become both the trustee and bankruptcy court for future distressed financial firms. (Wed, 27 Oct 2010 06:57:41 -0700)

Blockbuster, Oriental Trading, Movie Gallery, Lehman: Bankruptcy
Blockbuster Inc. , the movie rental chain, received final authority from the bankruptcy judge yesterday to pay pre-bankruptcy claims of movie companies, regardless of whether the claims are secured or unsecured. Blockbuster sought the right to pay claims to assure a continuing supply of new movies. (Wed, 27 Oct 2010 21:24:52 -0700)

Creditor says Germantown Settlement subsidiary illegally diverted funds, seeks to dismiss bankruptcy
A month after filing for bankruptcy in April, a subsidiary of Germantown Settlement improperly diverted funds meant for a key creditor to its own use, according to court documents. (Thu, 28 Oct 2010 00:09:56 -0700)

Bankruptcy filings rise in Pierce County
My colleague Rolf Boone of The Olympian reported Wednesday on bankruptcy filings in Western Washington. (Thu, 28 Oct 2010 07:58:20 -0700)

Movie Gallery Video Chain Wins Bankruptcy Court Approval for Liquidation
Movie Gallery Inc. , the video-rental chain that began shuttering stores in February, won a bankruptcy court’s approval of a liquidation plan that will wipe out shareholder value. (Thu, 28 Oct 2010 14:59:35 -0700)

AmericanWest, Lehman, Workflow, Cabi, Penn Traffic: Bankruptcy
A bankruptcy judge in Manhattan refused to allow Wells Fargo Bank NA to foreclose on a homeowner because the bank couldn’t prove it owned the note and mortgage. (Thu, 28 Oct 2010 21:25:02 -0700)

Tribune braces for bankruptcy plans
Unhappy creditors face Friday deadline to offer alternatives Still recovering from a management scandal that claimed its chief executive a week ago, Tribune Co. is bracing for its next disruption: How to cope with legal challenges from Aurelius Capital Management and other unhappy creditors seeking to upend its bankruptcy case. (Thu, 28 Oct 2010 22:31:55 -0700)

Can I buy a pricey car after bankruptcy?
You can buy an expensive car, even after bankruptcy, but you'll pay a higher rate on your car loan. (Fri, 29 Oct 2010 03:00:00 -0700)

With bankruptcy over, Telcom plans Net TV
Hawaiian Telcom officially emerged from bankruptcy yesterday and said it now plans to develop new services, including Internet-based television. (Fri, 29 Oct 2010 04:40:32 -0700)

Carlyle Group's Hawaiian Telcom Emerges From Bankruptcy With Reduced Debt
Hawaiian Telcom Communications Inc., the phone company bought by Carlyle Group in 2005, said it emerged from Chapter 11 bankruptcy and reduced its debt by more than $850 million,. (Fri, 29 Oct 2010 04:58:24 -0700)

Tribune's bankruptcy plan likely to face legal challenges
Creditors have until midnight Friday to submit alternatives to a plan backed by the media conglomerate and its largest creditors. At least two groups intend to file restructuring proposals. Still recovering from a management scandal that claimed its chief executive a week ago, Tribune Co. is bracing for its next disruption: how to cope with legal challenges from Aurelius Capital Management and ... (Fri, 29 Oct 2010 08:17:45 -0700)

MGM Bankruptcy Is Approved by Bondholders
A bankruptcy filing will eliminate some $4 billion in debt and put the studio under the Hollywood executives Gary Barber and Roger Birnbaum. (Fri, 29 Oct 2010 16:42:23 -0700)

MGM creditors OK Spyglass-bankruptcy deal: source
Metro-Goldwyn-Mayer creditors voted "overwhelmingly" in favor of a bankruptcy plan that puts founders of Spyglass Entertainment at its helm, a setback for Lions Gate Entertainment's (Fri, 29 Oct 2010 16:51:09 -0700)

MGM bankruptcy, Spyglass deal wins OK
Metro-Goldwyn-Mayer creditors voted in favor of a bankruptcy plan that puts founders of Spyglass Entertainment at its helm, dealing a blow to Lions Gate Entertainment's merger proposal, a source familiar with the situation said. (Fri, 29 Oct 2010 20:12:55 -0700)

Ryan’s Bankruptcy Rescue of Rangers Set for $100 Million Payoff
The Hall of Fame pitcher and the rest of the group that led the Texas Rangers from bankruptcy to the World Series are getting a quick payback (Fri, 29 Oct 2010 21:35:31 -0700)

Research bankruptcy before filing
Individuals should consider bankruptcy carefully before starting the process. Several good websites offer useful how-to information. (Sat, 30 Oct 2010 20:37:28 -0700)

Bankruptcy filings on the rise
For the first nine months of this year, Caddo has had 2,329 total bankruptcy filings, which is already more than all of 2009, when there were 2,321 filings. In Bossier, there were 938 total filings through September, compared to 974 total in 2009. (Sun, 31 Oct 2010 00:10:53 -0700)

Honolulu man indicted in bankruptcy fraud
A federal grand jury has indicted a Honolulu man for alleged bankruptcy fraud after he was accused of hiding $350,000 in his home. Ben Fukuyama claimed he had only $140 in cash and $2,010 in a bank account when he filed for bankruptcy in July 2009, the indictment said. (Sun, 31 Oct 2010 04:37:31 -0700)


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