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Home > Bankruptcy News

Bankruptcy News Apr 2011

Sbarro chain may file for bankruptcy
CHICAGO — Sbarro Inc., the pizza chain owned by buyout firm MidOcean Partners, may seek bankruptcy protection after missing interest payments on its debt, said a person familiar with the process. (Fri, 01 Apr 2011 05:00:57 -0700)

Is American Apparel Bankruptcy Bound?
NEW YORK (TheStreet) -- On Friday, American Apparel reported a loss in 2010 and warned that it may have to file for bankruptcy protection. As a result, shares of the flailing t-shirt retailer are tumbling more than 6% in pre-market trading. American Apparel swung to a loss of $86 million from a profit of $1.1 million in the year-ago period. ... Click to view a price quote on APP . Click to ... (Fri, 01 Apr 2011 05:31:05 -0700)

American Apparel Says Cash Shortage May Spur Bankruptcy
American Apparel Inc., the Los Angeles-based clothier founded by Dov Charney, said its cash shortfall may force it to seek bankruptcy protection. (Fri, 01 Apr 2011 06:35:26 -0700)

Blockbuster Bankruptcy: Why Does DISH Want In?
Why the heck is satellite-TV mogul Charlie Ergen trying to buy Blockbuster out of bankruptcy protection? (Fri, 01 Apr 2011 08:50:37 -0700)

Vitro Creditors Tell Judge to Put U.S. Units Into Involuntary Bankruptcy
Vitro SAB subsidiaries should be put into bankruptcy in the U.S. after the Mexican glassmaker defaulted in 2009 and failed to reach restructuring deal, creditors said. (Fri, 01 Apr 2011 10:28:26 -0700)

American Apparel warns it may file for bankruptcy
Troubled clothing chain American Apparel Inc., losing money and faced with a cash crunch, says it may have to file for Chapter 11 bankruptcy protection. (Fri, 01 Apr 2011 10:37:04 -0700)

New Stream Judge Rejects $16 Million Bankruptcy Loan, Sides With Investors
New Stream Secured Capital Inc., a bankrupt company that buys life insurance policies and collects when the seller dies, can’t borrow $16 million to fund its reorganization, a judge ruled, siding with dissident investors. (Fri, 01 Apr 2011 10:58:19 -0700)

American Apparel Takes 4Q Hit, Warns of Bankruptcy
The Los Angeles-based retailer posted a net loss of $19.3 million, or 27 cents a share, compared with a profit of $3 million, or 4 cents a share, in the same quarter last year. Revenue fell 8.9% to $144 million from $158.1 million a year ago, hurt by a 10.4% drop in total retail net sales and an 11.5% decrease in stores open at least 12 months.  (Fri, 01 Apr 2011 11:06:54 -0700)

Sbarro Pizza Could File for Bankruptcy Within a Week
It appears Sbarro Pizza is heading for bankruptcy. The rumor is that the company may file for Chapter 11 bankruptcy as soon as Monday, and this might be the last gasp to try to make the company profitable. (Fri, 01 Apr 2011 15:01:42 -0700)

Dov denies bankruptcy
Bankruptcy for American Apparel? A lot of overblown legalese, says CEO Dov Charney. The struggling hipster clothier said in its annual 10-K report this week that it may be forced to file for Chapter 11 as it reported a shocking $86 million loss for 2010 amid plummeting sales and dwindling... (Fri, 01 Apr 2011 20:19:32 -0700)

Legal Aid's packed house reflects congestion at bankruptcy court
Bankruptcy filings in Hawaii continued to stabilize in March, but the volume of cases remained relatively high by historical standards, according to data released yesterday by U.S. Bankruptcy Court. (Sat, 02 Apr 2011 04:39:56 -0700)

Bankruptcy plan in limbo for Peek'n Peak
A bankrupt ski and golf center is at risk of being sold if its Geauga County-based parent company fails to find the money to continue to pay its operating expenses. (Sat, 02 Apr 2011 21:33:54 -0700)

THP bankruptcy hearing continued
PHILADELPHIA — A hearing Thursday in U.S. Bankruptcy Court on a motion to convert TH Properties’ Chapter 11 bankruptcy status to Chapter 7 liquidation has been continued to April 14. (Sat, 02 Apr 2011 23:05:20 -0700)

Bankruptcy petition for April 4
Bankruptcy petition for April 4 (Sun, 03 Apr 2011 21:20:02 -0700)

Sbarro Files for Bankruptcy Protection After Restaurant Chain's Sales Slid
Sbarro Inc. , the operator of more than 1,000 pizza restaurants worldwide, sought Chapter 11 bankruptcy protection in New York after sales slowed and cheese costs rose. (Mon, 04 Apr 2011 03:51:16 -0700)

Sbarro, Mall Restaurant Chain, Seeks Bankruptcy Protection
Sbarro Inc., operator of more than 1,000 pizza restaurants worldwide, sought Chapter 11 bankruptcy protection after sales slowed and cheese costs rose, and said it has a plan to eliminate about $200 million in debt. (Mon, 04 Apr 2011 04:05:22 -0700)

Pizza chain Sbarro files for bankruptcy protection
Sbarro Inc., a pizza and pasta fast-food chain popular in malls and airports, said Monday that it has filed for Chapter 11 bankruptcy protection. (Mon, 04 Apr 2011 05:39:11 -0700)

Sbarro's files for bankruptcy
Pizza chain Sbarro Inc. said Monday it filed for Chapter 11 bankruptcy protection under a plan that would remove more than half of the company's total debt. (Mon, 04 Apr 2011 05:42:02 -0700)

Bids expected today in Blockbuster bankruptcy court auction
There will be at least three bids for Dallas-based Blockbuster Inc. at its bankruptcy court auction Monday in New York. (Mon, 04 Apr 2011 05:59:32 -0700)

Sbarro filing for bankruptcy protection
Pizza and pasta chain Sbarro Inc. said Monday it is filing for Chapter 11 bankruptcy protection as it works to restructure. (Mon, 04 Apr 2011 06:12:55 -0700)

Sbarro filing for Ch. 11 bankruptcy protection
Pizza and pasta chain Sbarro Inc. said Monday that it is filing for Chapter 11 bankruptcy protection as it works to restructure. (Mon, 04 Apr 2011 11:39:49 -0700)

American Apparel bankruptcy likely, women’s groups respond
American Apparel, the “sweatshop free” trendy clothing company whose CEO Dov Charney has recently been accused of sexually abusing several store employees and proudly admitted to calling women “sluts” and the “c” word, has announced it may file for bankruptcy because last year left it with a loss of $86 million. (Mon, 04 Apr 2011 12:01:47 -0700)

Bankruptcy filings fall 6%
The number of Americans filing for bankruptcy dropped 6% in the first quarter of 2011 compared to the previous year, two industry groups said Monday. (Mon, 04 Apr 2011 13:46:09 -0700)

Bankruptcy filings fall 6%
The number of Americans filing for bankruptcy dropped 6% in the first quarter of 2011 compared to the previous year, two industry groups said Monday. (Mon, 04 Apr 2011 13:49:41 -0700)

Bankruptcy filings fall 6%
The number of Americans filing for bankruptcy dropped 6% in the first quarter of 2011 compared to the previous year, two industry groups said Monday. (Mon, 04 Apr 2011 13:54:57 -0700)

Area bankruptcy filings fall 17% for month
Bankruptcy filings fell 17 percent in metro Toledo last month from a year ago, the seventh consecutive month of fewer new cases than the year before. There were 880 new cases filed in March in U.S. Bankruptcy Court in Toledo, which covers 21 northwest Ohio counties. Last year, 1,063 cases were filed for the same month. For the first three months of 2011, 1,792 bankruptcies were filed, also down ... (Mon, 04 Apr 2011 21:36:13 -0700)

Private school may be cut in bankruptcy
Filing bankruptcy could mean pulling your kids from private school. (Tue, 05 Apr 2011 03:00:00 -0700)

Troubled Sbarro files for bankruptcy
MELVILLE, N.Y. — Pizza and pasta chain Sbarro Inc. said yesterday that it is filing for Chapter 11 bankruptcy protection as it works to restructure. (Tue, 05 Apr 2011 04:32:18 -0700)

Blockbuster receives 5 bids at bankruptcy auction
Blockbuster Inc has received five qualifying bids at a bankruptcy auction that will determine whether the movie rental chain will stay in business or shutter its roughly 1,700 remaining stores, a lawyer for the company said. (Tue, 05 Apr 2011 08:37:03 -0700)

Blockbuster receives 5 bids at bankruptcy auction
Blockbuster Inc has received five qualifying bids at a bankruptcy auction that will determine whether the movie rental chain will stay in business or shutter its roughly 1,700 remaining stores, a lawyer for the company said. (Tue, 05 Apr 2011 08:37:03 -0700)

Private School May be Cut in Bankruptcy
Filing bankruptcy could mean pulling your kids from private school (Tue, 05 Apr 2011 12:49:06 -0700)

Former Bankruptcy Trustee Under Fire
According To Justice Department Report, Farmington Lawyer Misused Funds A former bankruptcy trustee is facing a grievance committee hearing and possible federal criminal charges after a routine audit alleged that he transferred assets of bankrupt clients to bank accounts that he controlled. (Wed, 06 Apr 2011 02:59:40 -0700)

Bankruptcy may block kids' private school
Dear Bankruptcy Adviser, My wife and I are considering filing a Chapter 13 bankruptcy. We have two children in private school. Would we still be allowed to continue sending them to private school if we file bankruptcy? (Wed, 06 Apr 2011 04:42:47 -0700)

Dish Network Wins Blockbuster Bankruptcy Auction
Dish Network won Blockbuster in a bankruptcy auction for about $320 million, a move that could see the second-largest U.S. satellite TV provider tapping the movie rental chain's online content to strengthen its offerings. (Wed, 06 Apr 2011 07:07:19 -0700)

PFT: Brunell doesn't want to lose rings in bankruptcy
Mark Brunell won a national championship ring as Washington's backup quarterback in 1991, and a Super Bowl ring as the Saints' backup quarterback in 2009. Brunell says that just because he's filing for bankruptcy, that doesn't mean he should lose those rings. (Wed, 06 Apr 2011 08:36:00 -0700)

Tapatio land group back in bankruptcy
share: digg facebook twitter The owners of about 700 undeveloped acres near Tapatio Springs Golf Resort and Conference Center in Kendall County filed for bankruptcy again on Tuesday. Bankruptcy filings create an automatic stay of any action against the property of a bankruptcy estate. Property taxes of $120,000 from 2009 and 2010 remain unpaid, according to the bankruptcy filings. Lawyers for ... (Wed, 06 Apr 2011 09:07:49 -0700)

Bankruptcy Filings Fall Six Percent In First Quarter
Bankruptcy filings fell six percent over last quarter in the first 3 months of 2011, two industry groups reported Monday. (Wed, 06 Apr 2011 10:40:35 -0700)

Satelites Mexicanos Seeks Bankruptcy Protection in U.S. for Second Time
Satelites Mexicanos SA, the Mexican satellite company, filed for bankruptcy court protection in the U.S. for the second time in less than five years with a new restructuring plan supported by noteholders. (Wed, 06 Apr 2011 11:13:07 -0700)

How To Survive A Bankruptcy Filing
Learn how to make filing for bankruptcy less painful so you can successfully rebuild your financial life. (Wed, 06 Apr 2011 15:04:02 -0700)

Ex-billionaire hit with forced bankruptcy petition
Authorities from three states are seeking to force former billionaire Tim Blixseth into an involuntary bankruptcy to extract tens of millions of dollars in unpaid taxes he allegedly stashed in Nevada. (Wed, 06 Apr 2011 15:58:29 -0700)

Lehman Brothers Trustee Seeks Information on Bankruptcy Liquidation Plans
U.S. Trustee Tracy Hope Davis is seeking access to information provided by Lehman Brothers Holdings Inc. (LEHMQ) and other parties concerning rival $61 billion plans to liquidate the defunct firm, according to a court filing yesterday in U.S. Bankruptcy Court in Manhattan. (Thu, 07 Apr 2011 08:36:04 -0700)

Blockbuster's $320 Million Bankruptcy Sale to Dish Network Wins Approval
Blockbuster Inc. (BLOAQ) ’s movie-rental business can be sold for $320 million to Dish Network Corp. (DISH) , the winning bidder after a bankruptcy auction, a judge ruled. (Thu, 07 Apr 2011 09:11:39 -0700)

Judge dismisses Fresno Pacific Towers bankruptcy
A federal judge has dismissed the bankruptcy case involving the owners of the Fresno Pacific Towers, clearing the way for a change in ownership of the downtown Fresno landmark. (Thu, 07 Apr 2011 12:12:06 -0700)

Bankruptcy Court Green Lights Sale of St. Vincent’s Hospital Center
Rudin Management will turn the historic medical center into a walk-in emergency facility and hundreds of luxury apartments. The new facility will be operated by the North Shore-Long Island Jewish Health System. (Fri, 08 Apr 2011 06:31:31 -0700)

Moore Jaguar reverses itself and decides against bankruptcy
Three months after Moore Jaguar filed for bankruptcy, Missouri's only Jaguar dealership has agreed to dismiss its bankruptcy filing, and it intends to sell the Jaguar franchise. (Fri, 08 Apr 2011 19:40:24 -0700)

Homebuilder Pasquinelli files for bankruptcy
Pasquinelli Homebuilding LLC, the Burr Ridge-based homebuilder whose business started in Chicago's south suburbs but expanded to seven other states, has filed documents with U.S. Bankruptcy Court to liquidate the company. (Sat, 09 Apr 2011 05:17:53 -0700)

Washington area bankruptcy filings for the week of April 11
These firms recently filed with the U.S. Bankruptcy Court’s local court clerk’s offices. (Sun, 10 Apr 2011 13:46:50 -0700)

Santa Monica private school in bankruptcy, accusations fly
The former director of a private Santa Monica high school is alleged to have misused more than $1 million in school funds, forcing the school into bankruptcy near the beginning of the term, according to documents and interviews. Many of... (Sun, 10 Apr 2011 13:49:06 -0700)

Social Security not headed for bankruptcy
ST. LOUIS, April 10 (UPI) -- Critics say Social Security is headed for bankruptcy as baby boomers retire, but a U.S. professor says this incorrect analysis is based on the 1950s worker. (Sun, 10 Apr 2011 14:19:26 -0700)

Q&A with bankruptcy attorney Steve Haskins
Steve Haskins is among the county’s most experienced bankruptcy attorneys, so why does he spend so much time talking people out of filing Chapter 7, which could clear their debts and give them a fresh start? (Sun, 10 Apr 2011 22:30:00 -0700)

Bankruptcy falls despite higher rates
Bankruptcy levels have fallen to the lowest point since 2005 despite higher interest rates, official figures show. (Mon, 11 Apr 2011 01:57:08 -0700)

Bankruptcy falls despite higher rates
Bankruptcy levels have fallen to the lowest point since 2005 despite higher interest rates, official figures show. (Mon, 11 Apr 2011 02:30:32 -0700)

Bankruptcy behind him, Prudential CEO expands business
Prudential Americana Group CEO Mark Stark isn’t afraid of taking chances when it comes to the future of the housing market. Stark had a debt of more than $20 million, but with the financial help of the corporate office of Prudential, he was able to buy back his company at a fraction of the cost he originally borrowed from two lenders (Mon, 11 Apr 2011 03:03:44 -0700)

Braxton talks about bankruptcy
R&B singer Toni Braxton had no choice but to file for bankruptcy because she refused to tell debt collectors she had lupus. (Mon, 11 Apr 2011 14:43:18 -0700)

Bankruptcy bill aired in House, no vote
INDIANAPOLIS — State Sen. Ed Charbonneau, R-Valparaiso, presented his bill giving municipalities an avenue to bankruptcy court at a House committee on Monday.Charbonneau has maintained the bill is not crafted for any one municipality, and it’s aimed to help financially strapped municipalities avoid bankruptcy. The bill would allow municipalities to petition a three-member board to become ... (Mon, 11 Apr 2011 14:44:00 -0700)

I want my car repossessed. Why won't they?
You can surrender your car in bankruptcy, but forcing the lender to take it back may be difficult. (Tue, 12 Apr 2011 03:00:00 -0700)

Harry & David's Bankruptcy: Downturn or Wall Street?
RetailWire recently launched one of its daily online discussions exploring the reasons behind the bankruptcy filing of Harry & David, the purveyor of fruit and food baskets. Although many stories in the press naturally blamed the economy, more than a few are placing the blame squarely on the 2004 purchase by Wasserstein & Co. (Tue, 12 Apr 2011 06:59:35 -0700)

Vitro Wins Denial of Bankruptcy Filings for Some of Its U.S. Subsidiaries
Vitro SAB , the Mexican glassmaker, defeated a move by creditors to force some of its U.S. units into bankruptcy while other involuntary petitions will remain “under advisement” by a judge. (Tue, 12 Apr 2011 08:28:20 -0700)

Bankruptcies decline for first time in five years
First-quarter bankruptcy filings in the Middle District of Pennsylvania and the court's Wilkes-Barre office decreased for the first time in five years. (Tue, 12 Apr 2011 16:43:22 -0700)

GASCOIGNE BANKRUPTCY CASE ADJOURNED
Bankruptcy moves against former England midfielder Paul Gascoigne have been put on hold again until next month. Gascoigne, 43, who owes the taxman £32,000, is fighting a bankruptcy petition brought by Her Majesty's Revenue and Customs (HMRC). (Wed, 13 Apr 2011 03:37:16 -0700)

Gascoigne bankruptcy move on hold
Bankruptcy moves against former England and Newcastle star Paul Gascoigne over his tax debts are put on hold. (Wed, 13 Apr 2011 04:29:18 -0700)

Gazza bankruptcy hearing adjourned again
BANKRUPTCY moves against former Newcastle and England football star Paul Gascoigne have been put on hold again until next month. (Wed, 13 Apr 2011 05:49:15 -0700)

Station Casinos Affiliates Files Bankruptcy to Implement Green Valley Sale
Station Casinos Inc. affiliates including Fiesta Station Inc. filed for bankruptcy protection to implement an asset sale that is part of the parent company’s reorganization plan. (Wed, 13 Apr 2011 06:51:04 -0700)

Claims Against Tribune Chairman Zell ‘Have Merit,' Bankruptcy Judge Says
Tribune Co. ’s bankruptcy judge said potential lawsuits against company Chairman Sam Zell related to the billionaire’s $8.2 billion buyout of the newspaper publisher “have merit.” (Wed, 13 Apr 2011 10:43:07 -0700)

Station Casinos Affiliates File Bankruptcy Reorganization Petitions
Station Casinos Inc. affiliates including Fiesta Station Inc., as expected filed prepackaged bankruptcy reorganization petitions as part of the parent company's reorganization plan. Fiesta Station listed assets of about $500 million and debt of more than (Wed, 13 Apr 2011 11:52:31 -0700)

Bankruptcy enters a downward trend statewide
Bankruptcy filings receded in the first quarter of 2011, falling about 15 percent from a year ago. (Wed, 13 Apr 2011 15:12:53 -0700)

Zell attorney objects to Tribune bankruptcy plans
The federal judge overseeing Tribune Co.'s bankruptcy case should reject both proposals to reorganize the media company's finances because neither adequately protects Tribune Chairman Sam Zell from lawsuits, Zell's attorney argued Wednesday. (Wed, 13 Apr 2011 15:29:29 -0700)

Borders managers leaving amid bankruptcy
Almost 50 Borders corporate employees have left the company since it filed for bankruptcy two months ago, creating a leadership crisis for the Ann Arbor-based bookseller, according to court documents filed today. (Wed, 13 Apr 2011 21:21:58 -0700)

Bankruptcy Filings See Modest Q1 Decline
At the height of the Great Recession, Memphis bankruptcy attorney Jimmy McElroy of Jimmy McElroy & Associates noticed a trend of older, more establish... (Thu, 14 Apr 2011 14:09:09 -0700)

Dominion Club bankruptcy case hits obstacles
A Chapter 11 bankruptcy reorganization of The Dominion Club might be headed toward mediation to settle disagreements between the club's owners and its members. (Thu, 14 Apr 2011 21:15:16 -0700)

Bankruptcy vote looming, Philadelphia Orchestra players hand out leaflets before concert
PHILADELPHIA — Members of the Philadelphia Orchestra concerned about a bankruptcy vote distributed leaflets to audience members before a concert to express their opposition to what they say would be a devastating blow to the famed ensemble’s future. (Fri, 15 Apr 2011 04:38:00 -0700)

Musicians stage job action amid threat of orchestra bankruptcy filing
In a bit of theater in support of organized labor, musicians of the Philadelphia Orchestra gathered on stage for their usual Thursday night concert, and then, minutes before curtain time, fanned out into the audience with leaflets pleading their case with the listening public. (Fri, 15 Apr 2011 05:45:11 -0700)

Diana Clement: Bankruptcy no easy answer to debt spiral
Every year thousands of people give up all hope of paying back their debts and petition for bankruptcy or the lesser No Asset Procedure (NAP).In the 2010 calendar year there were 1876 bankruptcy adjudications and 2709 people accepted... (Fri, 15 Apr 2011 11:13:37 -0700)

Lenny Dykstra arrested, facing bankruptcy fraud charges [Updated]
U.S. prosecutors Friday charged famed baseball outfielder Lenny Dykstra with bankruptcy fraud. According to a statement by prosecutors, Dykstra was taken into custody at his Encino home Thursday night. The charge relates to fraud Dykstra allegedly committed involving the sale... (Fri, 15 Apr 2011 12:49:17 -0700)

Former Mets star Lenny Dykstra charged with bankruptcy fraud
WASHINGTON -- Lenny Dykstra, who played outfield for the New York Mets and Philadelphia Phillies, was charged with bankruptcy fraud for allegedly selling items from his $18 million mansion in southern California without permission, the Department of Justice said Friday. Dykstra, who filed for bankruptcy in July 2009, allegedly removed... (Fri, 15 Apr 2011 13:12:09 -0700)

Lenny Dykstra charged with bankruptcy fraud
Former major league baseball player Lenny Dykstra has been charged with bankruptcy fraud for allegedly selling pieces of his estate, the Department of Justice said Friday afternoon. (Fri, 15 Apr 2011 13:59:57 -0700)

Ex-MLB Player Lenny Dykstra Charged With Bankruptcy Fraud
Former Major League Baseball player Lenny Dykstra was charged with bankruptcy fraud for selling belongings from his $18.5 million mansion after he had filed for bankruptcy in 2009. (Fri, 15 Apr 2011 14:13:58 -0700)

Lenny Dykstra arrested, facing bankruptcy fraud charges
U.S. prosecutors Friday charged famed baseball outfielder Lenny Dykstra with bankruptcy fraud. According to a statement by prosecutors, Dykstra was taken into custody at his Encino home Thursday night. (Fri, 15 Apr 2011 14:55:00 -0700)

Philadelphia Orchestra May File for Bankruptcy
The board of the Philadelphia Orchestra plans to vote on Saturday whether to file for Chapter 11. (Fri, 15 Apr 2011 16:39:31 -0700)

New York Jeweler Esmerian Pleads Guilty to Bankruptcy, Wire Fraud Scheme
New York jeweler Ralph O. Esmerian pleaded guilty to a bankruptcy fraud scheme and other crimes for pledging at least $20 million of jewels as collateral on multiple loans from Merrill Lynch & Co. and other lenders. (Fri, 15 Apr 2011 17:43:09 -0700)

Succeeding in Business After Bankruptcy
Small business owners who declare personal or business bankruptcy face restricted access to credit and higher interest rates for years. But those who persist with a new or reorganized company can become just as large and profitable as counterparts who have never declared bankruptcy. (Sat, 16 Apr 2011 00:05:33 -0700)

Lenny Dykstra Charged With Bankruptcy Crime
Former Mets player Lenny Dykstra charged in LA with bankruptcy crime, arrested in 2nd probe (Sat, 16 Apr 2011 08:05:22 -0700)

Philadelphia Orchestra seeks bankruptcy reorganization
The board of the 111-year-old Philadelphia Orchestra Saturday voted in favor of Chapter 11, sources say. Papers will be filed within hours or days in U.S. Bankruptcy Court, Eastern District of Pennsylvania, asking for reorganization, according to orchestra leaders. (Sat, 16 Apr 2011 10:44:26 -0700)

Philadelphia Orchestra to seek bankruptcy protection
The Philadelphia Orchestra, one of the nation's "Big Five" symphonies, on Saturday voted to seek Chapter 11 bankruptcy protection, a board member said. (Sat, 16 Apr 2011 14:40:25 -0700)

Philadelphia Orchestra declares bankruptcy
The acclaimed Philadelphia Orchestra said it would file for bankruptcy, the first major US performance ensemble to do so during the nation's current economic turmoil. (Sat, 16 Apr 2011 19:16:24 -0700)

Philadelphia Orchestra seeks bankruptcy reorganization
PHILADELPHIA -- The board of the 111-year-old Philadelphia Orchestra voted on Saturday in favor of Chapter 11, sources say. (Sat, 16 Apr 2011 21:46:58 -0700)

Philadelphia Orchestra Files for Bankruptcy After 111 Years as Sales Slump
The Philadelphia Orchestra filed for bankruptcy protection after 111 years of operation to restructure leases, contracts and agreements. (Sat, 16 Apr 2011 23:56:49 -0700)

Top US orchestra to file for bankruptcy
The acclaimed Philadelphia Orchestra said it would file for bankruptcy, the first major US performance ensemble to do so during the nation's current economic turmoil. (Sun, 17 Apr 2011 00:22:40 -0700)

Philadelphia Orchestra files bankruptcy papers
The renowned Philadelphia Orchestra has officially filed for bankruptcy protection after falling victim to plunging ticket sales and soaring overheads, according to court papers. (Sun, 17 Apr 2011 19:11:37 -0700)

Philadelphia Orchestra, With $116 Million Endowment, Files for Bankruptcy
The Philadelphia Orchestra, which made mushrooms and hippos dance in Walt Disney Co.’s animated “Fantasia” and premiered works by Stravinsky , Mahler and Rachmaninoff, filed for bankruptcy protection over the weekend. (Mon, 18 Apr 2011 01:41:49 -0700)

Bankruptcy Petition for April 18
Bankruptcy Petition for April 18 (Mon, 18 Apr 2011 04:26:22 -0700)

TerreStar Networks Seeks Approval to Sell Assets at Bankruptcy Auction
TerreStar Networks Inc., a mobile communications company in bankruptcy, asked for court permission to sell its assets at an auction after an earlier deal with Echostar Corp. (SATS) fell apart. (Mon, 18 Apr 2011 07:21:05 -0700)

Muni Bankruptcy Threat Makes Michigan Train Financial-Emergency SWAT Teams
Michigan is giving hundreds of financial professionals and public employees a crash course in advising troubled municipalities, building an army of emergency managers that may become a model for other U.S. states. (Mon, 18 Apr 2011 11:05:34 -0700)

Muni Bankruptcy Threat Makes Michigan Train Financial SWAT Teams
Michigan is giving hundreds of financial professionals and public employees a crash course in advising troubled municipalities, building an army of emergency managers that may become a model for other U.S. states. (Mon, 18 Apr 2011 11:06:49 -0700)

Specialty Products Bankruptcy Judge Threatens to Replace Disputing Lawyers
The judge in the bankruptcy of Specialty Products Holding Corp., a unit of Rust-Oleum maker RPM International Inc. (RPM) , threatened to replace lawyers with a trustee in the case because of battles over an exchange of documents. (Mon, 18 Apr 2011 13:13:27 -0700)

Bankruptcy in Elkins Park has many brides scrambling
Kelley Graff and John McConnell found the perfect venue for their wedding behind a wrought-iron gate on Ashbourne Road in Elkins Park. (Tue, 19 Apr 2011 00:18:52 -0700)

Philadelphia Orchestra's bankruptcy filing creates a global shock
The Philadelphia Orchestra's decision Saturday to declare bankruptcy has drawn worldwide attention, from both major news outlets and niche readerships. (Tue, 19 Apr 2011 00:28:12 -0700)

Can my son-in-law's bankruptcy harm me?
Make sure you're legally protected if a relative goes bankrupt, and be cautious with financial help. (Tue, 19 Apr 2011 03:00:00 -0700)

Bowe Bell & Howell Seeks Bankruptcy, Sells Itself to Versa to Pay Debts
Bowe Bell & Howell, a maker of high-speed mail-sorting equipment and software developer, sought bankruptcy court protection and agreed to sell itself to creditor Versa Capital Management Inc. to pay off debt. (Tue, 19 Apr 2011 06:13:21 -0700)

Can My Son-in-Law's Bankruptcy Harm Me?
Make sure you're legally protected if a relative goes bankrupt, and be cautious with financial help. (Tue, 19 Apr 2011 13:31:00 -0700)

Mastro bankruptcy trial opens with offer to settle
The bankruptcy trustee seeking millions from Michael R. Mastro and associates rejected a proposed agreement that the bankrupt developer owes $7.1 million but didn't do anything wrong. (Tue, 19 Apr 2011 14:04:10 -0700)

Ghost Town bankruptcy hits dead end
Ghost Town in the Sky has no hope of pulling itself out of bankruptcy, according to a federal bankruptcy administrator. The court will decide this week whether to let the amusement park continue to languish in bankruptcy, where it has been stuck for two years now, or simply dismiss the case. (Wed, 20 Apr 2011 05:50:18 -0700)

Scovill Fasteners Seeks Bankruptcy Protection to Sell Most of Its Assets
Scovill Fasteners Inc. , the maker of snap-closure buttons for consumer and military clothing for more than two centuries, sought bankruptcy protection from creditors with an agreement to sell virtually all its assets to Global Equity Capital LLC. (Wed, 20 Apr 2011 13:13:15 -0700)

Philadelphia Orchestra Papers Give Bankruptcy Details
Details are emerging in the Philadelphia Orchestra’s decision to file for Chapter 11 bankruptcy, a move that shocked the music world. (Wed, 20 Apr 2011 16:38:18 -0700)

Bankruptcy Court hears opening statements on Philadelphia Orchestra's Chapter 11 petition
Arguing that there are aspects of the musicians' contract "we can no longer afford," lawyer Lawrence G. McMichael on Wednesday ushered the Philadelphia Orchestra Association's Chapter 11 petition into U.S. Bankruptcy Court. (Thu, 21 Apr 2011 00:23:14 -0700)

Philadelphia Orchestra's bankruptcy battle hits same notes as Wisconsin fight
IMAGINE IF the political rock opera pitting public employees against tea partyers in Madison, Wis., had played out not with a backdrop of angry chants but with soothing string pieces by Schubert and Mozart. (Thu, 21 Apr 2011 00:53:28 -0700)

Donald Trump's Companies Filed Bankruptcy 4 Times
Not all of Trump's business ventures have been constant money-makers. In fact, the multi-billionaire and possible 2012 presidential candidate has filed for bankruptcy four times. (Thu, 21 Apr 2011 03:46:26 -0700)

Bankruptcy Scores: 20 Risky Retailers
NEW YORK (TheStreet) -- Bankruptcies in the retail sector are still a very disconcerting prospect. In less than a year, we have witnessed the fall of two behemoths: Blockbuster and Borders, an indication that there is always some weeding out to be done in the sector. While consumer spending has returned substantially since the depths of the recession, those retailers that struggled prior to the ... (Thu, 21 Apr 2011 05:07:51 -0700)

Dykstra posts $150K bond in bankruptcy fraud case
Former New York Mets and Philadelphia Phillies outfielder Lenny Dykstra posted $150,000 bond Wednesday in a federal case where he's accused of embezzling money from a bankruptcy estate. (Thu, 21 Apr 2011 05:19:11 -0700)

Bankruptcy court OKs Beaudry reorganization
A federal bankruptcy court in California has approved the bankruptcy reorganization plan laid out by Michael Beaudry Inc. and Beaudry-brand company Centerstone Diamonds Inc., bringing the designer one step closer to officially emerging from bankruptcy. (Thu, 21 Apr 2011 05:20:01 -0700)

Borders Bankruptcy: The Altman Z-Score Called It
NEW YORK (TheStreet) -- How accurate is the Altman Z-Score? As is commonly noted, since its inception, the formula has been 72% accurate in predicting corporate bankruptcies two years prior from the filing. But for a starker example of its predictive abilities, look no further than you local bookstore -- or what used to be your local bookstore, and it now quite possibly a empty storefront full ... (Thu, 21 Apr 2011 06:52:14 -0700)

AS Luterma, Lehman Europe Paintings, Kabul Bank: Bankruptcy
AS Luterma, an Estonian food and property company formerly named AS Kalev, was declared bankrupt by a court at the request of a unit of Swedbank AB (SWEDA) and a local water utility. (Thu, 21 Apr 2011 07:43:11 -0700)

Bankruptcy Court hears opening statements on Philadelphia Orchestra's Chapter 11 petition
Arguing that there are aspects of the musicians' contract "we can no longer afford," lawyer Lawrence G. McMichael on Wednesday ushered the Philadelphia Orchestra Association's Chapter 11 petition into U.S. Bankruptcy Court. (Thu, 21 Apr 2011 09:30:09 -0700)

Bankruptcy trustee keeps hunting for Hecker assets
As Denny Hecker and his bride cool their heels in prison, the bankruptcy trustee in charge of corralling far-flung bobbles, gems and other assets, remains on the hunt for cash to pay creditors owed more than $200 million. (Thu, 21 Apr 2011 17:42:48 -0700)

Orchestra bankruptcy puts Philly Pops in the crosshairs
With shows for its upcoming season still unscheduled, the light-fare Philly Pops has become a point of contention in the financial reorganization of its stuffier big brother. (Fri, 22 Apr 2011 07:30:20 -0700)

Harry & David Creditors Object to Wasserstein Benefiting From Bankruptcy
Wasserstein & Co., the buyout firm that bought Harry & David Holdings Inc . in 2004, shouldn’t be allowed to benefit from the now bankrupt gift retailer, said creditors who object to the terms of a $100 million loan. (Fri, 22 Apr 2011 09:58:07 -0700)

Bankruptcy Court To Make Filing Easier
The New Mexico Bankruptcy Court is working to make it easier for individuals to file for bankruptcy on their own, but some economists advise against filing that way. (Fri, 22 Apr 2011 13:28:28 -0700)

Montebello officials consult bankruptcy attorneys
MONTEBELLO - City officials are talking to bankruptcy attorneys in preparation for the worst, according to a memo Interim City Administrator Peter Cosentini sent to the City Council. (Fri, 22 Apr 2011 20:42:40 -0700)

Montebello officials consult bankruptcy attorneys
MONTEBELLO - City officials are talking to bankruptcy attorneys in preparation for the worst, according to a memo Interim City Administrator Peter Cosentini sent to the City Council. (Fri, 22 Apr 2011 23:49:44 -0700)

Mont. resort founder wants bankruptcy petition tossed
Attorneys for Yellowstone Club founder Tim Blixseth have asked a federal judge to dismiss a forced bankruptcy petition based on the real estate baron's unpaid tax bills in three states. (Sat, 23 Apr 2011 11:35:54 -0700)

Bankruptcy judge approves new bonus plan for Borders executives
Ann Arbor-based Borders Group Inc. won approval of an amended executive bonus plan after a judge sought changes to resolve objections from an arm of the U.S. government that oversees bankruptcies. (Sat, 23 Apr 2011 12:47:39 -0700)

American Apparel Avoids Bankruptcy; Shares Spike
NEW YORK (TheStreet) -- American Apparel was rescued from bankruptcy this weekend, receiving a cash infusion from Canadian investors, according to several reports. Great White North, which also bailed out Jamba , agreed to inject about $40 million into the flailing t-shirt retailer, Bloomberg reported. As part of the deal, the investors will immediately give American Apparel $15 million, and ... (Mon, 25 Apr 2011 07:31:06 -0700)

Appliance Direct files for bankruptcy protection
Appliance Direct has filed for Chapter 11 bankruptcy protection, but that doesn't mean you'll see fewer of those commercials starring owner Sam Pak with his spunky sidekick in the plaid outfit. "We haven't touched the marketing budget," said Scott Shuker, an attorney for Appliance Direct. "It's business as usual." The Melbourne-based company filed last week in federal court in Orlando. Appliance ... (Mon, 25 Apr 2011 13:44:47 -0700)

Firm’s bankruptcy leaves cleanup of Brantford industrial site in limbo
Terrasan Environmental Solutions was to reclaim a 20-hectare area that once was home to farm equipment factories (Mon, 25 Apr 2011 19:39:02 -0700)

Hearing set on ex-Del. Hamilton's bankruptcy plan
A federal bankruptcy judge is considering whether to accept a former Virginia lawmaker's plan to repay nearly two dozen creditors. (Tue, 26 Apr 2011 05:24:24 -0700)

Written out: Authors feel Border's bankruptcy
They have become as much a part of the Christmas shopping season as the Salvation Army bellringers and piped-in carols. (Tue, 26 Apr 2011 07:23:18 -0700)

Platinum Properties, Developer, Files for Bankruptcy Protection in Indiana
Platinum Properties LLC, an Indiana residential real estate developer, filed for bankruptcy and sued one of its banks to prevent it from winning a claim. (Tue, 26 Apr 2011 08:06:04 -0700)

UBS, Credit Agricole Propose Bankruptcy Plan for GSC to Block Asset Sale
UBS AG (UBSN) , Credit Agricole SA and other lenders to GSC Group Inc. are proposing a bankruptcy restructuring plan for the investment management firm to block a sale. (Tue, 26 Apr 2011 08:28:20 -0700)

Blockbuster Wins Bankruptcy Court's Final Approval to Sell Assets to Dish
Blockbuster Inc. (BLOAQ) , once the largest video-rental chain, won final approval to sell its assets to Dish Network Corp. (DISH) for $320 million in a deal expected to be completed today. (Tue, 26 Apr 2011 09:51:04 -0700)

The Chef Geoffrey Zakarian Seeks Bankruptcy Protection
The Chapter 7 petition by the celebrity chef Geoffrey Zakarian may help him to fend off more than $1 million in legal claims from his former kitchen staff at Country. (Tue, 26 Apr 2011 16:39:07 -0700)

Appliance Direct files for Chapter 11 bankruptcy
The Melbourne-based company that oversees eight Appliance Direct retail stores in Central Florida filed for Chapter 11 bankruptcy, hoping to... (Wed, 27 Apr 2011 00:29:19 -0700)

Tuscaloosa attorney pleads guilty to bankruptcy fraud
A Tuscaloosa attorney has been charged with bankruptcy fraud, according to the U.S. Attorney’s Office in Birmingham. Donald Dionne, 60, is accused of providing false information about clients’ addresses so cases would be assigned to a different judicial division and judge. (Wed, 27 Apr 2011 01:32:27 -0700)

Ferrite emerges from Ch. 11 bankruptcy
NASHUA – Nine months ago, it looked as though The Ferrite Co. was headed for financial ruin. Some ill-timed investments and the weak economy led to deep financial difficulties, and a handful of Ferrite’s creditors banded together to force the company into Chapter 7 bankruptcy in July. CEO Peter Tibbetts had been brought in months earlier to turn the company around without filing for bankruptcy ... (Wed, 27 Apr 2011 06:33:42 -0700)

Vallejo Municipal-Bankruptcy Morass Prompts U.S. States to Prevent Filings
Soon after Indiana state Senator Ed Charbonneau introduced legislation in January to bolster cash- strapped cities on the verge of bankruptcy, he got an unexpected phone call. (Wed, 27 Apr 2011 07:36:04 -0700)

Bankruptcy bill language changed back
INDIANAPOLIS — The author of a Senate bill aimed at helping financially strapped municipalities has added the option of filing for Chapter 9 bankruptcy. The House removed it from the bill last week. Supporters argue that the option of Chapter 9 is important. State Sen. Ed Charbonneau, the bill’s author, is optimistic about its ultimate passage but called discussions at Wednesday’s conference ... (Wed, 27 Apr 2011 18:01:58 -0700)

Virginia business briefs for April 28
Bankruptcy petition against French advances (Wed, 27 Apr 2011 21:12:50 -0700)

Tornado Slams Jefferson County Contemplating Bankruptcy
Jefferson County , Alabama, already on the brink of bankruptcy, faces another emergency after a tornado ripped through the state’s most populous county, destroying 1,000 homes and killing at least 30 people. (Thu, 28 Apr 2011 16:55:02 -0700)

Catholic Christian Brothers order files for bankruptcy
The North American branch of the Christian Brothers, a Roman Catholic order that runs schools around the world, has filed for bankruptcy protection amid mounting sexual abuse claims against U.S. and Canadian members. (Thu, 28 Apr 2011 22:59:33 -0700)

Does bankruptcy in retirement make sense?
Seniors in debt should consider these six questions before filing for bankruptcy. (Fri, 29 Apr 2011 03:00:00 -0700)

Former Del. Phil Hamilton's bankruptcy hearing canceled
NEWPORT NEWS — Former Del. Phil Hamilton's scheduled hearing in U.S. Bankruptcy Court Friday morning has been canceled, according to the court docket. (Fri, 29 Apr 2011 08:06:27 -0700)

Borders Hasn’t Shown It Can Pay Bankruptcy Case Costs, U.S. Trustee Says
Borders Group Inc. (BGP) hasn’t shown that it can pay the costs of its bankruptcy case and should be denied requests to pay lawyers and other professionals, the U.S. said. (Fri, 29 Apr 2011 08:51:45 -0700)

Raser Technologies, Renewable Energy Developer, Files for Bankruptcy
The case is: In re Raser Technologies Inc., 11-11315, U.S. Bankruptcy Court, District of Delaware (Wilmington). (Fri, 29 Apr 2011 15:13:17 -0700)

Fourth Time's A Charm: How Donald Trump Made Bankruptcy Work For Him
How has Donald Trump survived four bouts with corporate bankruptcy and come out on top, with a fortu (Fri, 29 Apr 2011 16:45:08 -0700)

Some Harry & David creditors cry foul over prepackaged bankruptcy structure
A group of unsecured creditors contends that the Medford-based company's parent stands to profit through the Chapter 11 proceeding and after. (Fri, 29 Apr 2011 19:53:05 -0700)


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