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Home > Bankruptcy News

Bankruptcy News Mar 2012

Swiss club Servette falls into bankruptcy
The owner of Swiss club Servette placed the club into bankruptcy on Thursday, becoming the second team in the 10-club top division to go bust this year. Iranian businessman Majid Pishyar said in a statement on the club's website that he took the "complicated" decision with a "broken heart." He directed blame at the city's government and business community whose... (Thu, 01 Mar 2012 08:03:18 -0800)

Servette Geneva file for bankruptcy
Servette Geneva filed for bankruptcy on Thursday in a further blow to Swiss domestic soccer during a season in which Neuchatel Xamax has been kicked out of the league and Sion docked 36 points. (Thu, 01 Mar 2012 10:03:37 -0800)

Bankruptcy filings climb in Feb.
Bankruptcy filings in northwest Ohio rose for the first time in 17 months in February, but a local bankruptcy expert said the slight upward trend likely was because of a change in the nation's bankruptcy laws and not a sign of a downturn in the Toledo-area economy. (Thu, 01 Mar 2012 21:02:44 -0800)

Bankruptcy's Odd Twist With Union Contracts
Why the pilots' lawsuit against AMR, the parent company of American Airlines, contends that a section of the bankruptcy code does not apply to them. (Fri, 02 Mar 2012 01:04:04 -0800)

Bankruptcy officials allege monk supplied fraudulent information
INDEPENDENCE --- Federal bankruptcy authorities this week filed a complaint accusing Ryan St. Anne Scott of lying on his petition for Chapter 7 debt relief. (Fri, 02 Mar 2012 07:09:06 -0800)

Bankruptcy officials allege Ryan St. Anne Scott supplied fraudulent information
INDEPENDENCE, Iowa --- Federal bankruptcy authorities this week filed a complaint accusing Ryan St. Anne Scott of lying on his petition for Chapter 7 debt relief. (Fri, 02 Mar 2012 07:35:42 -0800)

BANKRUPTCY WEEK AHEAD: Dodgers, Stow Attorneys To Meet In Court
BANKRUPTCY WEEK AHEAD: Dodgers, Stow Attorneys To Meet In Court (Fri, 02 Mar 2012 09:22:19 -0800)

Judge approves AMR bankruptcy advisers
A federal bankruptcy judge on Friday issued final orders authorizing AMR Corp.'s employment of bankruptcy attorneys, management restructuring consultants and an aircraft restructuring adviser, court documents show. (Sat, 03 Mar 2012 02:49:04 -0800)

Bankruptcy jabs silenced as sides prep for mediation
STOCKTON - Public jabs hurled over what is true - or not - about Stockton's beleaguered finances will now go on lockdown as the city embarks on confidential mediation with its unions, retirees and major creditors. (Sun, 04 Mar 2012 08:40:41 -0800)

"Normal' adjusts in bankruptcy filings here
New bankruptcy cases in Western New York continued to fall in February at a much more moderate pace than last year, as the level of filings approaches what may be a "new normal" in a continuing bad economy. (Mon, 05 Mar 2012 03:02:44 -0800)

Bankruptcy threat to iPad trademark challenger
A major creditor of Proview Electronics, which is challenging Apple Inc.'s use of the iPad trademark, has moved to have the ailing computer monitor maker liquidated, reports said Monday. (Mon, 05 Mar 2012 04:16:39 -0800)

Bankruptcy Threat to iPad Challenger
Reports say major creditor seeking liquidation of iPad trademark challenger Shenzhen Proview (Mon, 05 Mar 2012 05:38:55 -0800)

4 Ways Washington Mutual's Bankruptcy Still Matters
NEW YORK (TheStreet) -- Washington Mutual's three and a half year-old bankruptcy case drew toward a close on Friday, though issues it raised will linger for some time. U.S. Bankruptcy Court Judge Mary Walrath approved the plan, which various stakeholders must vote to accept or reject before a March 7 deadline. Washington Mutual was seized by regulators Sept. 25, 2008, with the bulk of its ... (Mon, 05 Mar 2012 06:38:47 -0800)

Alabama County Approved for Largest Muni Bankruptcy
Alabama’s Jefferson County is fully eligible for a Chapter 9 bankruptcy protection filing and can proceed with its $4.23 billion case, the biggest ever by an American municipality, a federal judge ruled. (Mon, 05 Mar 2012 06:57:05 -0800)

Judge clears way for record bankruptcy in Alabama
A judge has cleared the way for an Alabama county to move forward with the largest municipal bankruptcy in U.S. history, overruling Wall Street claims that state law didn't allow the county to file the case. (Mon, 05 Mar 2012 09:55:31 -0800)

Judge clears way for Alabama county bankruptcy
(Reuters) - Alabama's Jefferson County can go ahead with its $4.23 billion bankruptcy case, the biggest ever by an American municipality, a federal judge ruled. The late Sunday ruling by U.S. Bankruptcy Judge Thomas Bennett opens the road for the county to restructure more than $3 billion in debt incurred as a result of an expensive sewer-system overhaul, as well as other liabilities. "This is ... (Mon, 05 Mar 2012 11:12:56 -0800)

What should you say to save house in bankruptcy?
Dear Bankruptcy Adviser,The Chapter 7 bankruptcy paperwork has four options on the Statement of Intentions form. They are: surrender, redeem, reaffirm and other. I am trying to save my home. Should I choose ... (Tue, 06 Mar 2012 00:04:41 -0800)

Lehman bankruptcy bill: $1.6 billion
Lehman Brothers' bankruptcy is the largest in history, and it's also been the most lucrative one for lawyers and consultants. (Tue, 06 Mar 2012 02:12:19 -0800)

Lehman bankruptcy bill: $1.6 billion
Lehman Brothers' bankruptcy is the largest in history, and it's also been the most lucrative one for lawyers and consultants. (Tue, 06 Mar 2012 04:57:31 -0800)

Lehman bankruptcy bill: $1.6 billion
Lehman Brothers' bankruptcy is the largest in history, and it's also been the most lucrative one for lawyers and consultants. (Tue, 06 Mar 2012 08:03:15 -0800)

Lehman Exits Bankruptcy, Set To Pay Creditors
The failed bank said it will make its first payment to creditors on April 17. (Tue, 06 Mar 2012 09:44:16 -0800)

First Take: Lehman emerges from bankruptcy only to disappoint and disappear
First Take: Lehman emerges from bankruptcy only to disappoint and disappear (Tue, 06 Mar 2012 09:47:25 -0800)

Lehman exits bankruptcy to repay debt and vanish
The debtors of Lehman Brothers, whose stunning collapse in 2008 sparked global financial panic, emerged from a record bankruptcy Tuesday in a step toward the final chapter for the once-powerful Wall Street investment bank. (Tue, 06 Mar 2012 09:59:46 -0800)

Lehman Brothers emerges from bankruptcy
Three and a half years since it first sank into bankruptcy, Lehman Brothers emerged from its record $639 billion restructuring Tuesday and said it will start paying back its creditors on April 17. (Tue, 06 Mar 2012 10:24:45 -0800)

UPDATE 3-Lehman emerges from bankruptcy
* Lehman to pay creditors starting April 17 * Lehman will continue with liquidation * Legal move follows bankruptcy plan approval (Adds to paragraph 5, adds quote in paragraph 9) March 6 (Reuters) - Lehman ... (Tue, 06 Mar 2012 11:10:20 -0800)

Lehman emerges from bankruptcy
(Reuters) - Lehman Brothers Holdings Inc's record $639 billion bankruptcy ended on Tuesday, clearing the way for it to start distributing about $65 billion to creditors starting on April 17, court documents show. Lehman has said that it expects that first group of payments to creditors to be at least $10 billion. Lehman, now a small fraction of its former size, collapsed on September 15, 2008 ... (Tue, 06 Mar 2012 11:11:58 -0800)

US companies turn to bankruptcy again - and again
Bankruptcy can be just about as traumatic as it gets for a company, its employees, customers, and suppliers. The only thing worse - going through it again, and again. The number of companies making second ... (Tue, 06 Mar 2012 12:49:41 -0800)

Lehman emerges from 3-1/2 year bankruptcy
By Caroline Humer REUTERS - One-time financial powerhouse Lehman Brothers emerged from bankruptcy on Tuesday and is now a liquidating company whose main business in the coming years will be paying back ... (Tue, 06 Mar 2012 14:25:12 -0800)

Pilots' bid for AMR bankruptcy committee denied
A bankruptcy judge on Tuesday denied a bid by a group of American Airlines pilots to form its own committee to speak for it in the bankruptcy of the carrier's parent, AMR Corp. (Tue, 06 Mar 2012 16:07:05 -0800)

Companies take the bankruptcy carousel
Bankruptcy can be just about as traumatic as it gets for a company, its employees, customers, and suppliers. The only thing worse - going through it again, and again. (Wed, 07 Mar 2012 05:24:40 -0800)

Companies turn to bankruptcy again - and again
Bankruptcy can be just about as traumatic as it gets for a company, its employees, customers, and suppliers. The only thing worse - going through it again, and again. The number of companies making second ... (Wed, 07 Mar 2012 05:27:20 -0800)

Bankruptcy judge urges settlement in Bryan Stow-Dodgers lawsuit
A bankruptcy judge is urging attorneys for Bryan Stow and the L.A. Dodgers to settle their legal dispute over a beating in the stadium parking lot that left the San Francisco Giants fan critically injured. (Thu, 08 Mar 2012 11:01:12 -0800)

First Person: Non-Dischargeable Debt and the Bankruptcy Process
When I filed for bankruptcy two years ago, I found out that there are several types of debt that do not qualify to be discharged in a chapter 7 bankruptcy. This helped me understand what I would still have to pay back and helped me plan for it. (Fri, 09 Mar 2012 08:30:00 -0800)

Hostess Brands names CEO to work way out of bankruptcy
(Reuters) - Hostess Brands Inc named Gregory Rayburn as its new chief executive as the Twinkies and Wonder Bread maker works its way out of its second bankruptcy proceeding in less than three years. Rayburn replaces Brian Driscoll, who resigned effective Friday. The company, which filed for bankruptcy protection in January, has also been facing a possible strike by the Teamsters union. As the ... (Fri, 09 Mar 2012 09:49:20 -0800)

Hostess names CEO to steer through bankruptcy
Hostess Brands Inc. on Friday named a new CEO to steer the company through its Chapter 11 bankruptcy reorganization. (Fri, 09 Mar 2012 10:26:58 -0800)

Bankruptcy examiner calls Dynegy transfer fraud
A court-appointed examiner said Friday that a Dynegy subsidiary that filed for bankruptcy protection fraudulently transferred coal power assets to the parent company, which remains solvent. (Fri, 09 Mar 2012 12:37:30 -0800)

Dynegy bankruptcy thrown into question
HOUSTON, March 10 (UPI) -- A court examiner reviewing Houston energy company Dynegy Holdings LLC's bankruptcy said its bankruptcy filing was preceded by a fraudulent asset maneuver. (Sat, 10 Mar 2012 09:11:01 -0800)

Isla: Bankruptcy misconceptions abound
WEIRTON - Consumer bankruptcy filings may have leveled off, but an attorney who specializes in helping people get out of debt says too many people wait much too long before they look for help - and when they do, they don't always turn to the right... (Mon, 12 Mar 2012 04:41:14 -0700)

What to Do with Bankruptcy’s Loose Change
Charities are increasingly getting the pool of bankruptcy estate money that can materialize years after a company files for Chapter 11 protection to shut down, courtesy of an oversight in the U.S. Bankruptcy Code. (Mon, 12 Mar 2012 08:15:02 -0700)

Government seeks bankruptcy trustee for Dynegy Holdings
(Reuters) - United States Trustee Tracy Davis filed a motion with a bankruptcy court late Sunday night seeking the appointment of a Chapter 11 trustee in the ongoing Dynegy Holdings bankruptcy proceeding. In her motion, Davis said, "The mismanagement of the debtors by their current management to the financial detriment of the debtors' creditors provides cause for the appointment of an ... (Mon, 12 Mar 2012 08:51:40 -0700)

U.K.-based GameStop alternative heading to bankruptcy?
Game hasn't been able to bring new games into its stores due to financial woes, and might soon be forced to bankruptcy if it can't arrive at a suitable conclusion. Originally posted at The Digital Home (Mon, 12 Mar 2012 09:42:39 -0700)

Dynegy to renegotiate bankruptcy plan, guided by examiner
Dynegy Holdings will renegotiate a bankruptcy plan under the guidance of a court-appointed examiner after that examiner said on Friday that Dynegy had participated in an asset transfer prior to its November ... (Mon, 12 Mar 2012 13:44:36 -0700)

I filed bankruptcy. Why are they after me?
Dear Bankruptcy Adviser,I filed bankruptcy in 2007, including a bank account, which I had closed. I instructed the bank not to pay any more automatic deductions because I was filing bankruptcy, and I closed ... (Tue, 13 Mar 2012 00:01:09 -0700)

Bankruptcy No Collection Agency Antidote?
A debt might keep haunting you after bankruptcy. Here's how to make it go away for good. (Tue, 13 Mar 2012 13:42:42 -0700)

Ambac Financial Judge to Rule Tomorrow on Bankruptcy Plan
Ambac Financial Group Inc. (ABKFQ) ’s bankruptcy judge said she will rule tomorrow on the company’s plan to reorganize its $1.7 billion in debt after hearing hours of objections from shareholders in court today. (Tue, 13 Mar 2012 14:35:54 -0700)

Fitch: Brazil's Banks Insulated from Celpa Bankruptcy Protection
Fitch Ratings believes that a partial or full default of Celpa's and Grupo Rede's debt should have a mild impact on the Brazilian financial system as banks' exposure to Grupo Rede' (Wed, 14 Mar 2012 07:56:00 -0700)

Disgraced NFL Star Michael Vick Nearly Free Of $20 Million Bankruptcy
After filing for Chapter 11 bankruptcy in July 2008 on debt of close to $20 million, he is now less than $400,000 away from being back in the black. (Wed, 14 Mar 2012 07:57:16 -0700)

InCharge Showcases Bankruptcy Courses at Tampa Seminar
Non-profit organization will exhibit at American Bankruptcy Institute seminar, March 15-17, 2012 (Wed, 14 Mar 2012 12:54:05 -0700)

The Biggest Bankruptcy in American History
Stockton, Calif., would be the biggest municipal bankruptcy, but it won't be the last. (Thu, 15 Mar 2012 14:12:37 -0700)

Lehman exits bankruptcy to repay debt
Lehman Brothers has emerged from a record bankruptcy and will begin repaying creditors. (Fri, 16 Mar 2012 06:25:23 -0700)

Trailer Bridge shipping company emerges from bankruptcy Friday, stabilizes operations at Jacksonville port
Trailer Bridge officials said Chapter 11 bankruptcy agreement preserves key shipping company at Jacksonville Port and no jobs were lost. (Fri, 16 Mar 2012 08:46:36 -0700)

McGough: Debtors' Charitable Giving Limited To 15% Of Gross Income In Bankruptcy
In re McGough, ___ B.R. ____, 2012 WL 843753 (10th Cir.BAP (Colo.), Mar. 14, 2012). Full Opinion at http://goo.gl/lwU6L "Can there ever be too much charity?", the Tenth Circuit asks -- and then answers in the affirmative in the context of this bankruptcy case. Husband and Wife ("H&W") debtors filed for bankruptcy, and the Bankruptcy Trustee sought to recover $4,758 that H&W had donated to ... (Fri, 16 Mar 2012 10:56:15 -0700)

Direct Air parent files for bankruptcy protection
Just three days after abruptly stopping service and leaving travelers stranded, the parent of discount airline Direct Air has filed for bankruptcy protection. (Fri, 16 Mar 2012 11:38:25 -0700)

Making Financial Reconstruction Possible After Bankruptcy: The Nation's Largest Bankruptcy Law Firm Educates Consumers ...
CHICAGO, IL-- - Going through a bankruptcy can be tough, as it means starting over financially and rebuilding everything from scratch. It is that somewhat stark realization that deters many people from ... (Fri, 16 Mar 2012 15:16:00 -0700)

Chicago Bankruptcy Lawyer Fonfrias Adds New Article to Website Advising Filing for Bankruptcy While Your Bills Are ...
Chicago bankruptcy lawyer and financial rescue expert Richard Fonfrias of the Fonfrias Law Group, LLC, has added an informative new article to his website in order to assist people contemplating bankruptcy, that advises them to consider filing for bankruptcy before they are in arrears, in order to maintain a stronger position and allow more options down the road.Chicago, Illinois (PRWEB) March ... (Fri, 16 Mar 2012 17:18:13 -0700)

Bankruptcy judge appoints trustee to run Alter
Judge rejects 11th-hour bid that Alter said could prevent the 93-year-old Jewish Times from folding as soon as next week A trustee will run Alter Communications Inc., publisher of the Baltimore Jewish Times, a U.S. Bankruptcy Court judge ordered late Friday after determining the company had exhausted all avenues to reorganize under Chapter 11. (Fri, 16 Mar 2012 17:43:02 -0700)

Bankruptcy judge appoints trustee to run Alter
Judge rejects 11th-hour bid that Alter said could prevent the 93-year-old Jewish Times from folding as soon as next week A trustee will run Alter Communications Inc., publisher of the Baltimore Jewish Times, a U.S. Bankruptcy Court judge ordered late Friday after determining the company had exhausted all avenues to reorganize under Chapter 11. (Fri, 16 Mar 2012 17:45:21 -0700)

Arcapita files for bankruptcy protection in US
Bahraini investment firm Arcapita Bank says it has filed for bankruptcy protection in the United States in an effort to reorganize the company. (Mon, 19 Mar 2012 04:07:18 -0700)

Bernstein cuts Sprint, notes bankruptcy risk
Sprint Nextel Corp. shares fell premarket after the research firm Sanford C. Bernstein called a bankruptcy filing “a very legitimate risk” in downgrading the wireless carrier to underperfrom. (Mon, 19 Mar 2012 06:36:24 -0700)

Bankruptcy jitters in Stockton. Will other cities fail?
Bankruptcy of Stockton, Calif., looms large as city enters talks with creditors. But most other troubled California municipalities are taking drastic steps to avoid bankruptcy.  (Mon, 19 Mar 2012 06:59:05 -0700)

Bahrain firm files for bankruptcy protection in US
Arcapita Bank, a Bahraini investment firm heavily invested in the United States, filed for U.S. bankruptcy protection Monday in a bid to turn the debt-heavy company around. (Mon, 19 Mar 2012 07:31:38 -0700)

Sprint: Bernstein Cuts Rating; 50% Chance Of Bankruptcy?
Sprint shares are trading sharply lower this morning after Bernstein Research analyst Craig Moffett cut his rating on the stock to Underperform from Market Perform, reducing his target price to $1.75, from $2.50, and raising the possibility that the company could eventually be forced to file for protection from creditors under Chapter 11 of the federal bankruptcy code. (Mon, 19 Mar 2012 07:38:36 -0700)

Sprint Bankruptcy Risks Are Rising: Bernstein
Bernstein Research downgraded Sprint Nextel Monday, saying the telecommunications company's risks of filing for bankruptcy protection are rising and will increase further as it releases its first 4G iPhone. (Mon, 19 Mar 2012 08:06:15 -0700)

TaxMasters files for Chapter 11 bankruptcy
TaxMasters Inc. has filed for bankruptcy protection following a legal challenge from Texas prosecutors who say the company's famed TV commercials mislead potential customers. (Mon, 19 Mar 2012 10:15:28 -0700)

Humpuss Sea Transport Files for Chapter 15 Bankruptcy
Humpuss Sea Transport Pte Ltd., a Singapore-based unit of an Indonesian shipping company, filed for Chapter 15 bankruptcy protection in the U.S. (Mon, 19 Mar 2012 10:50:54 -0700)

Elpida Seeks U.S. Protection During Japanese Bankruptcy
Elpida Memory Inc. (6665) , the last Japanese maker of computer-memory chips, sought protection from creditors in the U.S. as it pursues a bankruptcy case in Japan. (Mon, 19 Mar 2012 11:05:59 -0700)

TaxMasters files for bankruptcy
TaxMasters, the Houston-based firm that advertises it can help consumers facing problems with taxes, filed for bankruptcy protection Sunday. (Mon, 19 Mar 2012 12:30:52 -0700)

Sprint shares fall as analyst cites bankruptcy risk
(Reuters) - Shares in Sprint Nextel fell 4.5 percent on Monday after an analyst report said there is an increasing risk that the No. 3 U.S. mobile provider could end up filing for bankruptcy as the debt-laden company faces tough competition and steep costs due to factors such as its iPhone deal with Apple Inc. ... (Mon, 19 Mar 2012 14:41:21 -0700)

Sprint shares fall as analyst cites bankruptcy risk
(Reuters) - Shares in Sprint Nextel fell 4.5 percent on Monday after an analyst report said there is an increasing risk that the No. 3 U.S. mobile provider could end up filing for bankruptcy as the debt-laden ... (Mon, 19 Mar 2012 14:41:21 -0700)

TaxMasters files for bankruptcy
TaxMasters, the Houston-based firm that advertises it can help consumers facing problems with taxes, filed for bankruptcy protection Sunday. (Mon, 19 Mar 2012 15:39:32 -0700)

Bankruptcy Guru Altman Z: Bernstein Right on Sprint
NEW YORK (TheStreet) -- A Sanford Bernstein analyst on Monday put the odds of Sprint going bankrupt in the next five years at 50/50. So, does the bankruptcy metric developed by New York University professor Edward Altman in 1968 -- which has been 72% accurate in predicting corporate bankruptcies two years prior to the filing -- have Bernstein's back? Sort of. Sprint is clearly at risk of ... (Mon, 19 Mar 2012 15:49:48 -0700)

WaMu exits bankruptcy, on heels of Lehman
(Reuters) - Washington Mutual Inc , one of the biggest corporate casualties of the 2008 financial crisis, on Monday emerged from bankruptcy protection, just two weeks after Lehman Brothers Holdings Inc also emerged from Chapter 11. The Seattle-based company, the largest U.S. bank or thrift to fail, said it plans to begin repaying about $7 billion to creditors. Many of these are hedge fund ... (Mon, 19 Mar 2012 15:59:11 -0700)

Aveos files for bankruptcy protection in Canada
Aveos Fleet Performance sought bankruptcy protection, saying a sudden drop-off in aircraft maintenance work for Canada's flag carrier, its biggest client, had forced it to shutter operations. (Mon, 19 Mar 2012 17:48:53 -0700)

Bankruptcy for TaxMasters, an IRS foe
Bankruptcy filing by TaxMasters puts focus on its aggressive ads. The Houston firm filed for bankruptcy after Texas' attorney general sued it for misleading advertising, . (Mon, 19 Mar 2012 19:51:46 -0700)

Arcapita, WorldSpreads, Elpida, Humpuss Sea: Bankruptcy
Arcapita Bank BSC, a manager of Islamic-compliant investments with $7 billion under management, filed for bankruptcy in the U.S. after failing to reach an agreement with creditors. (Tue, 20 Mar 2012 06:51:02 -0700)

WaMu Emerges From Bankruptcy Protection
Washington Mutual , one of the biggest corporate casualties of the 2008 financial crisis, on Monday emerged from bankruptcy protection, just two weeks after Lehman Brothers Holdings also emerged from Chapter 11. (Tue, 20 Mar 2012 06:54:41 -0700)

Kodak retirees seek own bankruptcy committee
By Nick Brown NEW YORK (Reuters) - Retirees of Eastman Kodak Co asked a bankruptcy judge to appoint a committee to represent their interests in light of the company's plan to shed $1 billion in benefits ... (Tue, 20 Mar 2012 11:32:59 -0700)

Embraer books net loss on AMR bankruptcy
Brazil's Embraer , the world's third-largest aircraft maker, booked a net loss in the fourth quarter due to a provision for the bankruptcy of American Airlines, wiping out steady revenue growth from an ... (Tue, 20 Mar 2012 18:07:37 -0700)

After bankruptcy, will banks ever lend to you again?
A series of unfortunate events can suddenly lead to bankruptcy, but is the hit to your credit one that marks you for life? (Wed, 21 Mar 2012 05:00:00 -0700)

Cooley Adds Prominent Bankruptcy Attorney
SAN DIEGO, CA-- - Cooley LLP announced today that Ali M.M. Mojdehi has joined the firm as a partner in its Bankruptcy and Restructuring practice. He will be based in its San Diego office. Mojdehi was previously ... (Wed, 21 Mar 2012 10:43:00 -0700)

Daily Bankruptcy Review Wins Jesse H. Neal Award
NEW YORK, March 21, 2012 /PRNewswire/ -- For the third consecutive year, Dow Jones Daily Bankruptcy Review won the "Best Newsletter" category for the Jesse H. Neal National Business Journalism ... (Wed, 21 Mar 2012 11:00:00 -0700)

Lawyers for Charles Street AME church to appear in bankruptcy court on Thursday
Lawyers for the Charles Street African Methodist Episcopal Church are scheduled to appear in federal bankruptcy court in Boston Thursday to seek permission to continue paying wages to employees and other matters. About 250 members of the congregation voted to move forward with the bankruptcy filing in a three-hour meeting at the church on Tuesday night, on the advice of lawyers and the church’s ... (Wed, 21 Mar 2012 14:37:54 -0700)

AMR Said to Ready Bankruptcy Court Bid to Dump Contracts
American Airlines (AMR) plans to begin a U.S. bankruptcy-court process for rejecting union contracts by next week after failing to reach a deal to cut labor costs, two people familiar with the matter said. (Wed, 21 Mar 2012 15:29:08 -0700)

Trustee in Holley Bankruptcy Says She's Found Assets
BARTOW | Former Lakeland car dealer Michael Holley's personal bankruptcy case has hit a snag. (Thu, 22 Mar 2012 08:08:55 -0700)

InCharge Showcases Bankruptcy Courses at Sacramento Valley Forum
Nonprofit organization will exhibit at the California Bankruptcy Forum event, March 23-24, 2012 (Thu, 22 Mar 2012 10:54:05 -0700)

OneUnited, church fight continues in bankruptcy court
A lawyer for OneUnited Bank said Thursday in US Court that the Charles Street AME Church sought federal bankruptcy protection because of “gross, severe financial mismanagement” and not through any fault of the bank, which had been seeking to foreclose on a delinquent loan. The statements were the first extensive comments by OneUnited in the months-long saga over a $1.1 million loan that the ... (Thu, 22 Mar 2012 14:08:18 -0700)

American Airlines to seek OK from bankruptcy judge to break union contracts in cost-cutting move
American Airlines will ask a federal bankruptcy judge next week to throw out its union contracts if it can't reach cost-cutting deals with labor unions. (Fri, 23 Mar 2012 00:13:20 -0700)

After Bankruptcy, Will Banks Ever Lend to You Again?
The desire to return to normal after so much upheaval is natural--but putting your efforts into becoming the apple of a financial institution's eye should be far down on your list of priorities. (Fri, 23 Mar 2012 05:18:46 -0700)

Bankruptcy
A legal process involving an individual or company which cannot pay its debts. (Fri, 23 Mar 2012 07:58:09 -0700)

Some Families Are Putting Their Tax Refunds Toward Bankruptcy
An American Catch-22. (Fri, 23 Mar 2012 14:14:00 -0700)

Judge: Schools not in Central Falls bankruptcy
A federal bankruptcy judge has ruled that the state-run school system in Central Falls is not part of the city's bankruptcy proceedings. (Fri, 23 Mar 2012 19:29:42 -0700)

Bankruptcy used in Jose Lindner estate case
The estate of Jose Lindner and its creditors are using bankruptcy proceedings involving some of the Lindner's real estate holding companies and their creditors to subpoena financial records from the family's companies, an action that has been held up in Boone County probate court. (Sun, 25 Mar 2012 00:05:45 -0700)

Contract research firm Cetero seeks bankruptcy protection
(Reuters) - Contract research firm Cetero filed for bankruptcy protection early on Monday, court documents show, months after the U.S. drug regulator put the company on notice for faking documents and manipulating drug samples. In July last year, the U.S. Food and Drug Administration (FDA) said two 2010 inspections, an internal company investigation and a third-party audit uncovered "significant ... (Mon, 26 Mar 2012 02:06:37 -0700)

Contract Research Files Bankruptcy With Plan to Sell Assets
Contract Research Solutions Inc. (0194010D) , the pharmaceutical clinical-trial provider also known as Cetero Research, sought bankruptcy protection with a plan to sell its assets to lenders after an investigation by federal regulators. (Mon, 26 Mar 2012 05:50:44 -0700)

Hamid Soleimanian, Los Angeles Bankruptcy Attorney, Provides Free Consultations for Chapter 7 Bankruptcies
LOS ANGELES -- Credit card debt is one of the top contributing factors to personal bankruptcy in the U.S. today, but that fact did not stop Americans from charging nearly $50 billion on their credit cards ... (Mon, 26 Mar 2012 07:00:00 -0700)

Elliott Management Urges Ally To Avoid Bankruptcy For ResCap Unit
Elliott Management Corp., a hedge fund led by Paul Singer, is urging Ally Financial Inc. to scrap potential plans for a bankruptcy of its foundering mortgage subsidiary, Residential Capital. (Mon, 26 Mar 2012 08:41:35 -0700)

FastShip bankruptcy hits DRPA, rich investors
Du Ponts, Dorrances, Haases, toll-payers lose; Navy lawsuit is Bullard's last hope (Mon, 26 Mar 2012 11:09:18 -0700)

FastShip bankruptcy hits DRPA, rich investors
Du Ponts, Dorrances, Haases, toll-payers lose; Navy lawsuit is Bullard's last hope (Mon, 26 Mar 2012 12:20:38 -0700)

AMR wants to emerge from bankruptcy quickly
It took Thomas W. Horton 26 years to reach the corner office, but the promotion came with a catch:His company was going into bankruptcy protection.Horton was elevated from president to CEO of American ... (Mon, 26 Mar 2012 14:48:50 -0700)

Is my Social Security at risk over VA loan?
Dear Bankruptcy Adviser,I have a Veterans Affairs-secured mortgage on my home. I have recently retired and am living on Social Security money. If I declare a Chapter 7 bankruptcy and walk away from my ... (Tue, 27 Mar 2012 03:00:00 -0700)

Stockton Gets Ratings Cut by Moody’s as Bankruptcy Option Looms
Stockton (3654MF) , the California city on the brink of bankruptcy, had its pension-obligation and lease- revenue bond ratings cut by Moody’s Investors Service on about $341 million in debt. (Tue, 27 Mar 2012 10:52:58 -0700)

Providence Bankruptcy Seen as Unavoidable on Budget Gap
Providence (1055MF) , Rhode Island ’s capital and biggest city, probably will seek bankruptcy court protection to deal with a budget deficit , Robert Flanders, the state- appointed receiver for nearby Central Falls, said today. (Tue, 27 Mar 2012 14:00:15 -0700)

The Ins and Outs of Pre-Bankruptcy Credit Counseling
CHICAGO, IL-- - When Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act in 2005, it became mandatory for anyone entering bankruptcy to complete a credit counseling session at least ... (Tue, 27 Mar 2012 14:16:00 -0700)

Lee's CEO gets a $500,000 post-bankruptcy bonus
Getting Lee Enterprises through bankruptcy earned a $500,000 bonus for Lee Enterprises CEO Mary Junck, according to a new company filing with the Securities and Exchange Commission. (Tue, 27 Mar 2012 14:57:03 -0700)

American Airlines seeks to cancel labor contracts
American Airlines asked a federal bankruptcy judge Tuesday to break its labor contracts and impose cost-cutting terms on workers, a move aimed to pressure unions to accept concessions. (Tue, 27 Mar 2012 15:29:33 -0700)

DealBook: Hawker Beechcraft Is Said to Be Preparing for Bankruptcy Filing
The business jet maker says it has obtained $120 million in additional loans to buy it time to fix its balance sheet. (Wed, 28 Mar 2012 04:45:34 -0700)

Ford Transit Connect EV Battery Maker Azure Dynamics Files for Bankruptcy
The bankruptcy filing caused a halt in Ford Transit Connect production (Wed, 28 Mar 2012 08:37:49 -0700)

Erie County Councilman Beeman to revisit bankruptcy petition
Erie County Councilman Ebert Beeman intends to refile his bankruptcy petition to get in a better position to deal with the Internal Revenue Service over a $2.1 million tax judgment against him, Beeman's bankruptcy lawyer said in court today. (Wed, 28 Mar 2012 09:57:25 -0700)

Exclusive: Hawker Beechcraft readies bankruptcy filing
NEW YORK/WASHINGTON (Reuters) - Hawker Beechcraft Inc, the aircraft manufacturer owned by Goldman Sachs Group Inc's private equity arm and Onex Corp , is preparing to file for bankruptcy protection in the next several weeks, according to several people familiar with the matter. Hawker, which was bought by the private equity firms in 2007 for $3.3 billion, is negotiating a prearranged bankruptcy ... (Wed, 28 Mar 2012 16:56:46 -0700)

Longer Philly Orchestra bankruptcy may be in the cards
In a legal maneuver signaling the potential for a longer and more expensive Philadelphia Orchestra Association bankruptcy process, the national musicians' pension fund, with which the orchestra is at odds, has filed a motion asking that money be put aside to settle a portion of what it is owed. (Thu, 29 Mar 2012 00:08:48 -0700)

Longer Philly Orchestra bankruptcy may be in the cards
In a legal maneuver signaling the potential for a longer and more expensive Philadelphia Orchestra Association bankruptcy process, the national musicians' pension fund, with which the orchestra is at odds, has filed a motion asking that money be put aside to settle a portion of what it is owed. (Thu, 29 Mar 2012 08:11:02 -0700)

Save the Scenic Santa Ritas: Rosemont Copper Conceals Prior Bankruptcy in Arizona Filings
TUCSON, Ariz., March 29, 2012 /PRNewswire/ -- A formal complaint was filed today with the Arizona Corporation Commission alleging Rosemont Copper, a wholly owned subsidiary of Augusta Resource Corporation, ... (Thu, 29 Mar 2012 11:09:00 -0700)

MERS Judge Sets Aside Bankruptcy Court’s Critical Ruling
Merscorp Inc., operator of the electronic-registration system for about half of all U.S. home mortgages, got a court to set aside a bankruptcy judge’s opinion criticizing its right to transfer the mortgages among members. (Thu, 29 Mar 2012 14:20:44 -0700)

Valuing a stock when a company declares bankruptcy
If I own stock in a company that files for bankruptcy, can I claim a loss on my income taxes... (Thu, 29 Mar 2012 19:20:07 -0700)

Sino-Forest files for bankruptcy protection, plans sale or restructuring
TORONTO - Troubled Chinese timberland company Sino-Forest Corp. (TSX:TRE) is filing for bankruptcy protection and putting itself up for sale. (Fri, 30 Mar 2012 09:31:44 -0700)

Sino-Forest Files Bankruptcy, Sues Muddy Waters for $4B
Updated with added data and commentary throughout NEW YORK (TheStreet) --Sino-Forest will file for bankruptcy and said that it has reached an agreement with a committee of bondholders for a sale of the company, or a restructuring that would put the company's assets in the hands of its creditors. In a statement, the Chinese forestry giant once traded on the Toronto Stock Exchange said that ... (Fri, 30 Mar 2012 10:00:41 -0700)

BofA Allegedly Called Debtor 38 Times After He Filed For Bankruptcy
A bankruptcy judge in Florida recently sent a message to big banks: When your debtors go into bankruptcy, quit trying to get money out of them or you'll be the one who ends up paying. (Fri, 30 Mar 2012 10:06:53 -0700)

Fitch: Student Loan Bankruptcy Protection a Negative for Lenders
Fitch Ratings views legislation in Washington aimed at making private student loans dischargeable in bankruptcy as a negative for lenders heavily concentrated in that product. While passage of bankruptcy reform isn't likely during a presidential election year, the issue is expected to remain a point of interest. (Fri, 30 Mar 2012 10:47:00 -0700)

Federal bankruptcy not allowed for Oregon counties
Municipal bankruptcy under Chapter 9 of the federal Bankruptcy Code could be a powerful tool to Curry County in getting out from under some of its obligations like exorbitant payments due to the Public Employees Retirement System – if only it was available. (Fri, 30 Mar 2012 11:18:12 -0700)

Sino-Forest files for bankruptcy protection
Chinese timberland company Sino-Forest Corp., which is being investigated for fraud, said Friday it is filing for bankruptcy protection, putting itself up for sale and filing a lawsuit against the research firm that accused the company of exaggerating its timber holdings in China (Fri, 30 Mar 2012 22:04:51 -0700)


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