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Home > Bankruptcy News

Bankruptcy News May 2012

Town hall focuses on bankruptcy
STOCKTON - Bankruptcy doesn't miraculously give a city a fresh start, Councilman Dale Fritchen told a crowd gathered Monday for his first town hall meeting held to make his case against Stockton's option for Chapter 9. (Tue, 01 May 2012 06:57:06 -0700)

Dewey & Leboeuf Aims to Avoid Bankruptcy, Bienenstock Says
Dewey & LeBoeuf LLP intends to stave off bankruptcy by collecting bills to pay lenders and transferring employees and property to other firms, a member of the firm’s chairman’s office said. (Tue, 01 May 2012 07:50:52 -0700)

Tennis Racket Maker Prince Sports Files for Bankruptcy
Prince Sports Inc. sought bankruptcy protection citing as much as $100 million each in assets and debts, and the maker of the first oversize tennis racket plans to change its business model to become more competitive. (Tue, 01 May 2012 08:07:44 -0700)

'Octomom' files for bankruptcy, owes $30K in rent
"Octomom" Nadya Suleman has filed for bankruptcy, saying in a court filing that she has as much as $1 million in debt. (Tue, 01 May 2012 08:23:16 -0700)

5 biggest costs of filing for personal bankruptcy in Canada
It's no secret that filing for bankruptcy will hurt your credit rating. But did you know that there's also an upfront cost for entering into bankruptcy proceedings? (Tue, 01 May 2012 08:47:42 -0700)

Tennis racquet maker Prince Sports files for bankruptcy
(Reuters) - Tennis racquet maker Prince Sports Inc, which pioneered the oversized racquet, filed for bankruptcy protection in a U.S. bankruptcy court citing increased competition, piling debt and a decline in discretionary spending post the financial crisis that led to falling sales. (Tue, 01 May 2012 10:19:59 -0700)

Octomom files for bankruptcy, might lose home
In filing for bankruptcy protection, "Octomom" Nadya Suleman said in court papers that her debts could approach $1 million. (Tue, 01 May 2012 10:53:18 -0700)

Prince Sports files for bankruptcy protection
Prince Sports, which for more than 40 years has been affiliated with tennis greats like Jimmy Connors, Martina Navratilova and Maria Sharapova, is filing for Chapter 11 bankruptcy protection. (Tue, 01 May 2012 11:10:30 -0700)

Create Your Post-Bankruptcy Credit Rebuilding Plan
Rebuilding a positive credit history after a bankruptcy takes time and patience. (Wed, 02 May 2012 07:05:20 -0700)

Octomom Files for Bankruptcy, Because Our Bankruptcy Laws Are Great
The excesses of our celebrities can be enough to call into question any law that benefits them. The woman better known by her tabloid nom de plume as Octomom has officially filed for bankruptcy, E! News can confirm. ?I have had to make some very difficult decisions this year and Filing Chapter 7 was one ... (Wed, 02 May 2012 09:36:40 -0700)

LexisNexis Launches Financial Restructuring & Bankruptcy Module for Lexis Practice Advisor
LexisNexis® Legal & Professional , a leading provider of content and technology solutions, today announced a new module of its Web-based practical guidance offering from Lexis® Practice Advisor addressing the needs of Bankruptcy attorneys. (Thu, 03 May 2012 07:00:00 -0700)

General Maritime Plan to Be Approved by Bankruptcy Judge
The judge overseeing the bankruptcy of General Maritime Corp. (GMRRQ) said he will approve its reorganization plan, giving Oaktree Capital Management LP most of the shipping company’s new stock after it reached a last-minute agreement to sell one of its vessels. (Thu, 03 May 2012 12:20:51 -0700)

Hawker Beechcraft files for Chapter 11 bankruptcy
WASHINGTON (Reuters) - Hawker Beechcraft Inc, the aircraft maker owned by Goldman Sachs Group Inc's private equity arm and Onex Corp , on Thursday filed for bankruptcy protection as part of a prearranged deal with lenders that will eliminate about $2.5 billion in debt and $125 million in annual interest expenses. Hawker, which was bought by the private equity firms in 2007 for $3.3 billion, said ... (Thu, 03 May 2012 14:12:19 -0700)

Hawker Beechcraft Files For Chapter 11 Bankruptcy
Aircraft manufacturer Hawker Beechcraft Inc. (Thu, 03 May 2012 14:47:34 -0700)

Hawker Beechcraft files for bankruptcy protection
Hawker Beechcraft filed for bankruptcy protection Thursday in the latest blow to Wichita's beleaguered aircraft industry, with the company saying it had reached an agreement with many creditors on a plan to restructure its debt. (Thu, 03 May 2012 16:50:33 -0700)

Philadelphia Orchestra Plans Fundraiser to Exit Bankruptcy
The Philadelphia Orchestra Association, the symphony behind Disney’s “Fantasia,” will hold a special fundraising drive this summer with a unique goal: collect enough money to get out of bankruptcy. (Fri, 04 May 2012 09:44:02 -0700)

Bankruptcy judge authorizes Tribune bonuses
A federal bankruptcy judge in Delaware has authorized the Tribune Co. to pay up to $45 million dollars in bonuses to managers this year. (Fri, 04 May 2012 11:42:00 -0700)

GE Capital Coal-Plant Bankruptcy Plan Spurs S&P Rating Cut
GE Capital Corp. is weighing a prepackaged bankruptcy for a Pennsylvania coal-fired power plant being taken back from Edison Mission Energy, spurring Standard & Poor’s to cut its rating on $640 million of notes. (Fri, 04 May 2012 16:07:48 -0700)

Court approves Hawker Beechcraft’s request to stay open during bankruptcy
Hawker Beechcraft received approval Friday from the U.S. Bankruptcy Court for the Southern District of New York to continue to pay employees as well as vendors and suppliers for goods and services it receives after the date it filed for bankruptcy protection. (Fri, 04 May 2012 19:24:18 -0700)

Bankruptcy central in west
A STAGGERING amount of battlers across the west have declared bankruptcy as Victoria's job crisis worsens. (Sat, 05 May 2012 13:31:11 -0700)

Experts say Detroit bankruptcy still a possibility
Some experts contend bankruptcy still is possible for Detroit, despite a recently signed agreement with the state to financially restructure the city. (Sat, 05 May 2012 22:51:54 -0700)

Bankruptcy judge vindicates victims of FRM Ponzi scheme
With a single ruling, a bankruptcy judge vindicated victims of the state's largest Ponzi scheme, paved the way for some settlement agreements, and according to former securities regulator Mark Connolly, agreed with him and others that "the government... (Sat, 05 May 2012 23:19:56 -0700)

Experts say Detroit bankruptcy still a possibility
Some experts contend bankruptcy still is possible for Detroit, despite a recently signed agreement with the state to financially restructure the city. (Sat, 05 May 2012 23:44:26 -0700)

U.S. Bankruptcy Judge Thomas B. Bennett 'ideal person' at the center of precedent-setting trial
Bennett has been, since Jefferson County filed its $4.23 billion bankruptcy in November, a no-nonsense, by-the-book judge . (Sun, 06 May 2012 07:07:47 -0700)

Many Americans too broke to file for bankruptcy
This year, hundreds of thousands of Americans are expected to be too broke to file for bankruptcy. (Mon, 07 May 2012 07:39:34 -0700)

Mortgage investors rebuffed in WaMu bankruptcy
The judge in Washington Mutual's bankruptcy case ruled Monday that a group of investors who are plaintiffs in a federal mortgage-backed securities lawsuit against WaMu cannot file a claim in the company's bankruptcy case until distributions are made to a group of low-ranking creditors. (Mon, 07 May 2012 12:01:18 -0700)

Roberts' Tampa hotel files for bankruptcy
A Florida hotel owned by the St. Louis-based Roberts Cos. filed for bankruptcy today, marking the fourth time a Roberts hotel has sought bankruptcy protection since December. (Mon, 07 May 2012 12:41:00 -0700)

Treasury Would Support Bankruptcy Of Ally's ResCap Unit-Official
The U.S. Treasury Department has agreed to support a bankruptcy filing for the struggling home-loan unit of government-owned lender Ally Financial Inc., if the company chooses to take that route, an official said Monday.A bankruptcy filing for Ally's subsidiary, Residential Capital, has been widely expected in the coming weeks, when the unit faces more than $300 million of bond-related payments. (Mon, 07 May 2012 12:45:35 -0700)

Bankruptcy too expensive for many
It can help keep the repo man from taking your car. It can keep you in your home on the verge of foreclosure. But a recent study shows bankruptcy protection is out of reach for many of those who need... Read more at www.WISHTV.com (Mon, 07 May 2012 15:41:27 -0700)

Valley bankruptcy filings decline in April
Valley bankruptcies in April fell 27 percent from the same month in 2011, continuing what has become a two-year improvement trend. (Mon, 07 May 2012 17:28:59 -0700)

HUSA Liquidating Corporation Announces Bankruptcy Court Approval of Liquidation Plan
HUSA Liquidating Corporation announced that the Amended Chapter 11 Plan of Liquidation of HearUSA, Inc. was approv (Mon, 07 May 2012 21:04:00 -0700)

California Lawmaker Pushes New Municipal Bankruptcy Limit
The author of California’s four-month- old municipal bankruptcy restrictions is recommending revisions to broaden the powers of an outside mediator and loosen deadlines on negotiations with creditors and labor groups. (Tue, 08 May 2012 06:20:44 -0700)

Bankruptcy may be best option for Ally's mortgage unit
By Melissa Mott May 8 - If the mortgage unit of loan giant Ally Financial files for bankruptcy this weekend as expected, there will be one immediate reason -- the company could default on $1bn of debt ... (Tue, 08 May 2012 11:32:36 -0700)

Ally Said to Gain ResCap Bondholder Support for Bankruptcy Plan
Ally Financial Inc. (ALLY) , the auto lender majority-owned by U.S. taxpayers, received an oral commitment from bondholders of Residential Capital to support a bankruptcy filing for the mortgage unit that may come early next week, according to people with direct knowledge of the talks. (Tue, 08 May 2012 15:07:41 -0700)

Ally nears bankruptcy deal with ResCap creditors: source
(Reuters) - Ally Financial and creditors of the lender's Residential Capital unit are in general agreement on a plan to put the mortgage subsidiary into bankruptcy in a deal that could speed up and ease the process, a person familiar with the matter said. Details of the agreement are still being worked out, the source said on Tuesday. A deal with creditors would help the lender file for a pre ... (Tue, 08 May 2012 18:32:26 -0700)

Ally Said to Get ResCap Bondholder Backing for Bankruptcy
Ally Financial Inc. (ALLY) , the auto lender majority-owned by U.S. taxpayers, received an oral commitment from bondholders of Residential Capital to support a bankruptcy filing for the mortgage unit that could come early next week, people with direct knowledge of the talks said. (Tue, 08 May 2012 21:52:34 -0700)

Maine oil company bankruptcy hearing held
A lawyer for a Maine home heating company that declared bankruptcy told people who paid for fuel they never received they can expect restitution, but exactly how much is up in the air. (Wed, 09 May 2012 06:16:14 -0700)

How To Survive Bankruptcy
Bankruptcy is not the end of the world. You can survive it and come out on the other side more financially solid. (Wed, 09 May 2012 10:07:24 -0700)

Two Roberts Cos.' hotels file for bankruptcy
Hotels owned by St. Louis-based Roberts Cos. in Georgia and Louisiana filed for bankruptcy today, becoming the latest of the company's portfolio of 11 hotels to seek bankruptcy protection. (Wed, 09 May 2012 14:54:00 -0700)

Tom Martino's wife loses bid to keep property out of his bankruptcy
The wife of bankrupt radio personality Tom Martino lost a key court battle when a federal judge denied her efforts — and those of a long-time friend and fellow radio-show host who loaned Martino money — to remove a large downtown parking lot from the ongoing personal-bankruptcy case of radio's "Troubleshooter." (Wed, 09 May 2012 19:57:06 -0700)

Macey Bankruptcy Law's Optimism on Bank of America's Offer
CHICAGO, IL-- - Bank of America committed $11 billion in a deal with state attorneys general and the U.S. Department of Justice for mortgage principal reduction, but executives say they will go beyond ... (Thu, 10 May 2012 16:27:00 -0700)

EMI says bankruptcy won't protect MP3tunes from copyright suit
EMI plans to go forward with its copyright suit against MP3tunes.com and founder Michael Robertson even though the music-locker service has filed for bankruptcy. [Read more] (Thu, 10 May 2012 17:07:24 -0700)

Online music storage firm MP3tunes files for bankruptcy
(Reuters) - Online music storage firm MP3tunes Inc filed for bankruptcy in a U.S. court, following its prolonged run-in with music publishing giant EMI Group over copyright issues, court filings showed. MP3tunes is a so-called cloud music service that lets users store music in online "lockers." Amazon.com Inc, Apple Inc and Google Inc have similar cloud services. EMI's lawsuit against MP3tunes ... (Thu, 10 May 2012 21:47:23 -0700)

Ally's subprime mortgage unit may file for bankruptcy next week
Washington — The struggling subprime mortgage unit of Detroit-based Ally Financial Inc. may file for bankruptcy as early as next week. (Thu, 10 May 2012 22:12:22 -0700)

Ally's subprime mortgage unit may file for bankruptcy next week
Washington — The struggling subprime mortgage unit of Detroit-based Ally Financial Inc. may file for bankruptcy as early as next week. (Thu, 10 May 2012 23:03:41 -0700)

Corporate Restructuring & Litigation Partner Todd Padnos Brings Insurance and Bankruptcy Expertise to Sheppard Mullin ...
SAN FRANCISCO, CA-- - Todd L. Padnos has joined Sheppard, Mullin, Richter & Hampton LLP as a partner in the firm's Business Trial and Finance and Bankruptcy practice groups, based in the firm's 90-attorney ... (Fri, 11 May 2012 09:37:00 -0700)

Dewey's Bankruptcy Big Wig Joins Proskauer
Martin J. Bienenstock, one of the country's leading bankruptcy lawyers, is leaving Dewey & LeBoeuf with five other partners for Proskauer. (Fri, 11 May 2012 12:50:45 -0700)

Top bankruptcy lawyer leaving Dewey
(Reuters) - Martin Bienenstock, a prominent bankruptcy lawyer who advised on General Motors Co's restructuring in 2009, is leaving the law firm Dewey & LeBoeuf to join Proskauer Rose, which announced his move on Friday. Bienenstock has been part of a small management team overseeing Dewey since a leadership shakeup in March. Earlier this week, two other members of that office announced plans to ... (Fri, 11 May 2012 15:30:07 -0700)

American Airlines touts its performance during bankruptcy
FORT WORTH -- Despite being in bankruptcy, American Airlines says its performance has shown progress in the first few months of the year. (Fri, 11 May 2012 22:21:22 -0700)

Bankruptcy looms, Greeks warned
Greece's Deputy Prime Minister has said his country will run out of money in six weeks. (Sun, 13 May 2012 07:17:40 -0700)

Bankruptcy within weeks, Greeks warned
ATHENS: Greece's Deputy Prime Minister has said his country will run out of money in six weeks unless it honours its bitterly-disputed EU bailout deal. (Sun, 13 May 2012 07:23:01 -0700)

Falcone's LightSquared Preps Bankruptcy Filing: Report
Hedge-fund manger Philip Falcone's LightSquared venture is preparing for a potential bankruptcy protection filing, according to a report in the Wall Street Journal, citing people familiar with the matter. (Sun, 13 May 2012 08:26:24 -0700)

LightSquared on verge of bankruptcy: report
LightSquared Inc. a venture of hedge-fund manager Philip Falcone was teetering on the verge of bankruptcy Sunday as talks with lenders to avoid going bust have faltered. (Sun, 13 May 2012 09:26:58 -0700)

Ally Financial's mortgage unit nears bankruptcy: sources
NEW YORK (Reuters) - Ally Financial Inc's Residential Capital unit is nearing a bankruptcy filing, sources familiar with the situation said on Sunday, in a move that could help the taxpayer-owned auto lender to shed its troubled mortgage business but also spur drawn-out legal fights. The board of ResCap is scheduled to meet later on Sunday and a pre-arranged bankruptcy filing, where Ally has the ... (Sun, 13 May 2012 09:38:55 -0700)

Restoring your credit scores after filing for bankruptcy
The right steps to improve scores include a mix of credit and paying bills on time. But there's no way to quickly restore FICO scores to their old levels after a bankruptcy. Dear Liz : I had credit scores over 800 with no late payments ever. Unfortunately, a medical issue required me to charge $24,500 to a credit card. That led to a bankruptcy, which was discharged in July 2011. My scores ... (Sun, 13 May 2012 10:10:08 -0700)

Ally Financial's Mortgage Unit Reported Near Bankruptcy
Ally Financial Inc's Residential Capital unit is nearing a bankruptcy filing, sources familiar with the situation said on Sunday, in a move that could help the taxpayer-owned auto lender shed its troubled mortgage business but also spur drawn-out legal fights. (Sun, 13 May 2012 10:39:05 -0700)

LightSquared edges closer to bankruptcy filing: sources
(Reuters) - Philip Falcone's telecom start-up LightSquared edged closer to a bankruptcy filing on Sunday as the hedge fund manager was far from an agreement with creditors, sources familiar with the matter said. Falcone has until Monday at 5 p.m. EDT (2100 GMT) to reach an agreement or face a default on a $1.6 billion loan, sources said. Creditors have been negotiating to restructure ... (Sun, 13 May 2012 11:51:45 -0700)

ResCap bankruptcy may come today
Washington — The struggling mortgage unit of Detroit-based Ally Financial Inc. is expected to file for bankruptcy in New York early today after the board of directors met Sunday, according to two people briefed on the matter. (Sun, 13 May 2012 23:46:11 -0700)

DealBook: Ally's Mortgage Unit, ResCap, Files for Bankruptcy
Residential Capital. the mortgage unit of Ally Financial, filed for bankruptcy on Monday, a move aimed at removing Ally's biggest obstacle to its turnaround efforts. (Mon, 14 May 2012 05:29:27 -0700)

Ally's mortgage unit files for bankruptcy
Ally Financial's ResCap mortgage unit filed for a prepackaged bankruptcy protection Monday, a move that the taxpayer-owned bank says will allow it to take another step to repay Treasury. (Mon, 14 May 2012 05:34:36 -0700)

Ally Financial says its Residential Capital mortgage unit seeks Ch.11 bankruptcy protection
The U.S. government is hoping that Monday's bankruptcy filing by Ally Financial Inc.'s troubled mortgage business will help the company repay its government bailout faster. (Mon, 14 May 2012 05:52:11 -0700)

Ally's mortgage unit files for bankruptcy
Ally Financial's ResCap mortgage unit filed for a prepackaged bankruptcy protection Monday, a move that the taxpayer-owned bank says will allow it to take another step to repay Treasury. (Mon, 14 May 2012 06:19:22 -0700)

Ally hopes to end mortgage woes with ResCap bankruptcy
Ally Financial Inc.'s mortgage unit on Monday filed for bankruptcy and the auto lender said it will sell some international operations to help set it on a path to repaying $12 billion in bailout money. (Mon, 14 May 2012 06:31:01 -0700)

5 Bankruptcy Myths Debunked
A look at fictions surrounding consumer bankruptcy and the many reasons people file. (Mon, 14 May 2012 08:25:43 -0700)

Ally hopes to end mortgage woes with ResCap bankruptcy
NEW YORK (Reuters) - Ally Financial Inc's mortgage unit on Monday filed for bankruptcy and the auto lender said it will sell some international operations to help set it on a path to repaying $12 billion in bailout money. Ally's mortgage unit, called Residential Capital, or ResCap, filed for bankruptcy protection in federal court in Manhattan under a plan that has the support of some of its ... (Mon, 14 May 2012 08:38:48 -0700)

5 Bankruptcy Myths Debunked
Nadya Suleman (known to gossip magazines as "Octomom") recently filed for Chapter 7 bankruptcy after accumulating roughly $1 million in debt. Tabloids and gossip blogs have criticized Suleman's spending and lifestyle, but she's far from alone in her financial woes. Legal technology provider Epiq Systems estimates that 1.21 to 1.25 million Americans will file for bankruptcy this year, down from 1 ... (Mon, 14 May 2012 09:14:44 -0700)

5 Bankruptcy Myths Debunked
Nadya Suleman (known to gossip magazines as "Octomom") recently filed for Chapter 7 bankruptcy after accumulating roughly $1 million in debt. Tabloids and gossip blogs have criticized Suleman's ... (Mon, 14 May 2012 09:15:36 -0700)

LightSquared Files For Bankruptcy
LightSquared filed for bankruptcy on Monday, just hours before a deal ran out that would have kept the company from defaulting on its debt. (Mon, 14 May 2012 09:20:26 -0700)

Bankruptcy Aims To Free Ally of Bad Mortgage Assets After Auto Rescue
Ally Financial, which still owes the government about two-thirds of the $17.2 billion in emergency loans it received as part of the General Motors and Chrysler rescues, nudged its residential mortgage subsidiary into Chapter 11 bankruptcy today to shed toxic mortgage-related securities. (Mon, 14 May 2012 09:30:57 -0700)

LightSquared to file for bankruptcy
Unable to reach a deal with its lenders, upstart wireless carrier LightSquared will file for bankruptcy Monday, according to two sources with knowledge of the company's plans. (Mon, 14 May 2012 10:50:33 -0700)

Wireless venture LightSquared files for bankruptcy
The bankruptcy filing marks an end to an ambitious attempt to create an upstart provider of 4G LTE wireless services. (Mon, 14 May 2012 11:55:36 -0700)

Wireless venture LightSquared files for bankruptcy
The bankruptcy filing marks an end to an ambitious attempt to create an upstart provider of 4G LTE wireless services. Originally posted at News - Mobile (Mon, 14 May 2012 11:59:11 -0700)

LightSquared files for Chapter 11 bankruptcy
LightSquared on Monday filed for Chapter 11 bankruptcy after its planned high-speed wireless network was derailed by regulators, Bloomberg reported. The company’s data network would have covered as many as 260 million users, however it failed to gain approval from federal regulators. The FCC blocked LightSquared’s LTE network in February due to concerns surrounding interference with GPS systems ... (Mon, 14 May 2012 12:20:02 -0700)

Falcone's LightSquared files for bankruptcy
(Reuters) - Hedge fund manager Philip Falcone's dream of bringing another wireless network to the United States likely came to an end on Monday, when LightSquared Inc, the ailing telecommunications company he bankrolled, filed for bankruptcy protection. LightSquared and many affiliates, as widely expected, filed for protection from creditors with the U.S. bankruptcy court in Manhattan. Falcone ... (Mon, 14 May 2012 15:01:04 -0700)

LightSquared files for Chapter 11 bankruptcy protection
LightSquared filed for Chapter 11 bankruptcy protection on Monday after failing to reach a debt restructuring deal with its creditors. But, the company said it was determined to pursue a controversial plan to create a wireless network using satellites. Read full article >> (Mon, 14 May 2012 17:42:00 -0700)

Lights Out As LightSquared Files For Bankruptcy
Phil Falcone's LightSquared finally filed for bankruptcy protection on May 14, 2012. Falcone is in his own personal mess having been served with a Wells notice by the SEC. But the long past example of NextWave which fought to retain its frequency allotment won in the FCC lottery in 1996 might be a useful precedent in this case. It took 10 years but in the end NextWave sold the frequency on which ... (Mon, 14 May 2012 17:51:24 -0700)

Ex Filed Bankruptcy. What About My Motorcycle?
Should a man keep paying on his bike when his ex-wife included the loan in bankruptcy? (Tue, 15 May 2012 12:58:59 -0700)

LightSquared, Failed Wireless Venture, Files Bankruptcy
LightSquared Inc. won permission to manage $15 million in cash in bankruptcy after saying it disagrees with lenders over the use of other assets to fund the two years needed to win regulatory approval and reorganize. (Tue, 15 May 2012 15:05:44 -0700)

'Octomom' bankruptcy case thrown out of court
A judge threw out "Octomom" Nadya Suleman's bankruptcy claim Tuesday after she failed to file the proper paperwork to show she can't pay as much as $1 million in debt. (Tue, 15 May 2012 20:18:01 -0700)

Stockton Weighs Bankruptcy Option in Confronting Deficit
Stockton, the central California city on the brink of insolvency, weighed filing for bankruptcy as it faces a $26 million budget gap in the next fiscal year. (Wed, 16 May 2012 07:35:45 -0700)

5 Ways to Avoid Filing for Bankruptcy
The B Word. We know what it is but don't like to say it, and we hope we never have to go through it. The mere thought of bankruptcy sends shivers down our spines and makes our bank accounts quiver in fear. It has its reputation as the ultimate nadir of personal finance. (Wed, 16 May 2012 07:46:09 -0700)

'Octomom' Nadya Suleman's bankruptcy case thrown out
The bankruptcy case against 'Octomom' Nadya Suleman has been thrown out of court after she failed to complete the necessary paperwork, records show. (Wed, 16 May 2012 08:18:14 -0700)

'Octomom' bankruptcy dismissed
SANTA ANA, Calif., May 16 (UPI) -- Nadya Suleman's bankruptcy case has been dismissed because the so-called octomom failed to complete the necessary paperwork, court records in California show. (Wed, 16 May 2012 18:03:50 -0700)

Buffett Said to Have Sought ResCap Purchase Before Bankruptcy
Billionaire Warren Buffett sought to purchase Residential Capital from Ally Financial Inc. (ALLY) before the government-controlled company put the home lender in bankruptcy, three people familiar with the matter said. (Thu, 17 May 2012 14:51:19 -0700)

Buffett tried to buy ResCap before bankruptcy: report
(Reuters) - Billionaire investor Warren Buffett sought to buy Residential Capital (ResCap) from Ally Financial before the U.S. auto and mortgage lender put its home-lending unit into bankruptcy, Bloomberg said, citing three persons familiar with the matter. The news agency said Warren Buffett, Berkshire Hathaway Inc's controlling shareholder, appointed investment manager Ted Weschler for talks ... (Thu, 17 May 2012 19:05:29 -0700)

Research and Markets: Reorganizations Under Chapter 11 of the Bankruptcy Code
Dublin - Research and Markets has announced the addition of the "Reorganizations Under Chapter 11 of the Bank (Fri, 18 May 2012 05:57:00 -0700)

Dewey & LeBoeuf Readies Bankruptcy Filing
New York law firm Dewey & LeBoeuf LLP is readying a possible bankruptcy-protection filing for sometime in the next several weeks, said people familiar with the matter, a move that would initiate official liquidation of the beleaguered institution. (Fri, 18 May 2012 13:07:21 -0700)

Dewey to consider bankruptcy filing: source
NEW YORK (Reuters) - Ailing law firm Dewey & LeBoeuf is considering a bankruptcy filing as new debtholders take a more aggressive track, shifting away from earlier attempts at an out-of-court liquidation, a person familiar with the matter said on Friday. The majority of Dewey's partners have quit as a result of concerns about compensation, and $225 million in bank loans and bond debt. ... (Fri, 18 May 2012 20:11:47 -0700)

Up To Million Americans Can't Even Afford Bankruptcy
Bankruptcy is the last lifeline for consumers facing insurmountable debts, but it still comes at a price. Between 200,000 and one million American consumers are estimated to be unable to afford the cost of filing for Chapter 7 bankruptcy, according to new research released by the National Bureau of Economic Research. (Sat, 19 May 2012 07:22:09 -0700)

Linda McMahon Talks Of Bankruptcy, But Only So Much
In her campaign narrative, multimillionaire U.S. Senatecandidate Linda McMahon has often invoked the hardship of losing her home and filing for bankruptcy more than 35 years ago. (Sat, 19 May 2012 10:08:36 -0700)

VIDEO: Bankruptcy fears in Greek town
As the likelihood of Greece leaving the euro grows, the BBC's Tim Whewell reports from the small Greek town of Lavrion to find out what life is like when the money runs out. (Sun, 20 May 2012 02:49:10 -0700)

Insight: China pays high price to spare state firm from bankruptcy
The Chinese official was adamant the city of Weifang would keep its rayon factory open, noting that local authorities had just stepped in to help the plant's owner repay $60 million in commercial paper. ... (Sun, 20 May 2012 09:17:40 -0700)

REFILE-Dewey to consider bankruptcy filing - source
(Corrects month in which Dewey partner said no plans forbankruptcy to May from March in paragraph 13 of story publishedMay 18) * New crop of creditors pressuring Dewey to seek bankruptcy- source * Creditors ... (Sun, 20 May 2012 11:45:47 -0700)

French ski brand CoreUPT files for bankruptcy
French ski brand CoreUPT has filed for Chapter 11 bankruptcy. The company, which was founded by four-time freeskiing world champion Guerlain Chicherit, has until July 16 to find a new source of capital to sustain its operations. Failure to find a new investor or other source of capital by July 16 would downgrade CoreUPT's status to Chapter 7 bankruptcy, which calls for the liquidation and ... (Sun, 20 May 2012 12:11:44 -0700)

Houghton Mifflin Harcourt Publishing Files for Bankruptcy
Houghton Mifflin Harcourt Publishing Co., the publisher of authors from Mark Twain to J.R.R. Tolkien, sought bankruptcy protection to eliminate more than $3 billion in debt. (Mon, 21 May 2012 05:22:34 -0700)

Textbook publisher Houghton Mifflin files Ch. 11 bankruptcy
Textbook publisher hurt by government cutbacks Houghton Mifflin Harcourt Publishers Inc. filed for bankruptcy protection on Monday after the textbook publisher reached agreement with a majority of its creditors to cut about $3.1 billion of debt. (Mon, 21 May 2012 05:47:54 -0700)

Houghton Mifflin files Chapter 11 bankruptcy
(Reuters) - Houghton Mifflin Harcourt Publishers Inc filed for bankruptcy protection on Monday after the textbook publisher reached agreement with a majority of its creditors to cut about $3.1 billion of debt. The Boston-based company and two dozen affiliates filed for Chapter 11 protection in U.S. bankruptcy court in Manhattan. It said it had more than $1 billion in both assets and liabilities ... (Mon, 21 May 2012 06:39:39 -0700)

Bankruptcy judge to rule on American labor contracts June 22
The judge handling the American Airlines bankruptcy case in New York gave himself two additional weeks to decide on parent company AMR's request to reject existing contracts with employees' unions. (Mon, 21 May 2012 08:50:18 -0700)

Houghton Mifflin files for bankruptcy protection
Houghton Mifflin Harcourt Publishers Inc. has filed for Chapter 11 bankruptcy protection after reaching an agreement to eliminate $3.1 billion of its debt. (Mon, 21 May 2012 08:55:45 -0700)

Bankruptcy judge: 2003 sacrifices won't sway decision in American Airlines case
U.S. Bankruptcy Judge Sean Lane has made clear that past major concessions by union and nonunion employees won't affect American's current efforts to reject its labor contracts or the unions' efforts to fight American's motion. (Mon, 21 May 2012 11:17:15 -0700)

Houghton Mifflin files for bankruptcy
PUBLISHING Houghton Mifflin files for bankruptcy Houghton Mifflin Harcourt Publishing Co., the publisher of authors from Mark Twain to J.R.R. Tolkien, sought bankruptcy protection to eliminate more than $3 billion in... (Tue, 22 May 2012 00:36:10 -0700)

5 Signs You May Be Headed for Bankruptcy
Bankruptcy is like an angry neighbour. One minute you’re under his tree, in the middle of the night, chucking his mangoes in a plastic bag. Then suddenly there’s a clothes pole broken off in your butt, ... (Tue, 22 May 2012 09:00:00 -0700)

Judge Denies Move To Stop Desai Testimony In Bankruptcy Case
Chief U.S. Bankruptcy Judge Mike Nakagawa on Tuesday denied a bid by Dr. Dipak Desai to stop his sworn examination before creditors from moving forward. Following a brief hearing, Nakagawa ruled from the bench that the examination could resume as scheduled (Tue, 22 May 2012 11:53:55 -0700)

Greenberg Traurig Expansion Continues in California with the Addition of Bankruptcy and Restructuring Attorney Howard ...
LOS ANGELES, May 23, 2012 /PRNewswire/ --  Howard Steinberg has joined the international law firm Greenberg Traurig, LLP in the Los Angeles office as a shareholder in the Business Reorganization & Financial ... (Wed, 23 May 2012 09:56:00 -0700)

Paulson-Led Group to Sell Hotels to End Their Bankruptcy
A group led by Paulson & Co. plans to sell the Arizona Biltmore resort and the Claremont Hotel Club & Spa in Berkeley, California, as part of an effort to bring the properties and two other hotels out of bankruptcy. (Wed, 23 May 2012 12:20:49 -0700)

Bankruptcy Judgeship Bill Passed In Congress
Congress has passed a bill that will allow a bankruptcy judgeship in Jackson, Tenn., to be filled after the retirement this summer of U.S. Bankruptcy ... (Wed, 23 May 2012 12:57:36 -0700)

CEO of American Eagle eyes post-bankruptcy plans
American Eagle may still be spun off to shareholders after the feeder airline for American Airlines emerges from Chapter 11 bankruptcy protection, its CEO said on Wednesday.It's not clear yet what structure ... (Wed, 23 May 2012 13:47:57 -0700)

Chapter 7 Bankruptcy Trustee Allison D. Byman Joins Hughes Watters Askanase as Of Counsel
Allison D. Byman recently joined Hughes Watters Askanase, L.L.P. as Of Counsel in the firm’s Business Bankruptcy Practice Area. In addition to her regular business bankruptcy (Wed, 23 May 2012 14:10:00 -0700)

Bankruptcy Judge Gives ResCap Approval To Stop Funding HELOCs
A bankruptcy judge approved Residential Capital LLC's request to stop funding home-equity lines of credit Wednesday as the subprime lender looks to preserve value for creditors. (Wed, 23 May 2012 15:06:20 -0700)

Orchestra files plan for exiting bankruptcy
Thirteen months after entering Chapter 11, the Philadelphia Orchestra Association on Wednesday night filed its plan for exiting bankruptcy. With consent - sometimes hard-won - now in place from key creditors, the orchestra's blueprint for recovery will be considered by U.S. Bankruptcy Court in the coming months. If the plan draws support and no objections from creditors, and Judge Eric L. Frank ... (Thu, 24 May 2012 00:18:08 -0700)

Roberts Cos.' Dallas hotel files for bankruptcy
A Dallas hotel owned by St. Louis-based Roberts Cos. has filed for bankruptcy, becoming the final hotel owned by the development firm that's embroiled in a $34 million lawsuit to seek bankruptcy protection. (Thu, 24 May 2012 06:10:00 -0700)

Orchestra files plan for exiting bankruptcy
Thirteen months after entering Chapter 11, the Philadelphia Orchestra Association on Wednesday night filed its plan for exiting bankruptcy. With consent - sometimes hard-won - now in place from key creditors, the orchestra's blueprint for recovery will be considered by U.S. Bankruptcy Court in the coming months. If the plan draws support and no objections from creditors, and Judge Eric L. Frank ... (Thu, 24 May 2012 07:10:48 -0700)

Philadelphia Orchestra Submits Plan to Bankruptcy Court
The orchestra aims to emerge from Chapter 11 in the summer if its plan is approved by creditors and a bankruptcy court judge. (Thu, 24 May 2012 15:28:44 -0700)

St. Louis County Council member gets contract despite bankruptcy
Kathleen Burkett has been selected to operate the Maplewood License Office even though she was in bankruptcy last year and owed back taxes. (Thu, 24 May 2012 22:05:00 -0700)

Former Denver lawyer Bob McAllister pleads guilty to conspiracy and bankruptcy fraud
Disbarred Denver attorney Robert T. McAllister pleaded guilty Thursday to two counts of conspiracy to commit financial fraud and one count of bankruptcy fraud in U.S. District Court in Denver. (Fri, 25 May 2012 08:34:15 -0700)

Bankruptcy Court Approves Star Buffet, Inc. Disclosure Statement
SCOTTSDALE, Ariz. -- Star Buffet, Inc. (Pink Sheets:STRZ) (the "Company") announces that yesterday, the United States Bankruptcy Court for the District of Arizona (the "Bankruptcy Court") ... (Fri, 25 May 2012 11:30:26 -0700)

SIPC Says Bankruptcy Court Can Rule on Madoff Clawbacks
Bankruptcy judges can rule on claims for fraudulent transfers by the liquidator of Bernard Madoff’s brokerage, exercising powers that aren’t affected by a U.S. Supreme Court ruling in the Anna Nicole Smith case, the Securities Investor Protection Corp. said. (Fri, 25 May 2012 11:35:46 -0700)

Jensen Farms files bankruptcy in wake of cantaloupe listeria deaths
Jensen Farms, the southeastern Colorado cantaloupe growers who were the source of a deadly listeria outbreak last year, filed for bankruptcy Friday. (Fri, 25 May 2012 15:52:40 -0700)

Jensen Farms files for bankruptcy in wake of deadly listeria outbreak
 Jensen Farms, the southeastern Colorado cantaloupe growers who were the source of a deadly listeria outbreak last year, filed for bankruptcy Friday. (Fri, 25 May 2012 19:45:58 -0700)

John Bujak's bankruptcy trustee wants Canyon County to pay
The trustee in John Bujak’s bankruptcy case filed a motion this week asking for a judge to order Canyon County to pay $171,000 to the bankruptcy estate to restore money the former prosecutor paid the county shortly before he resigned and declared bankruptcy. (Sat, 26 May 2012 22:11:52 -0700)

Colorado farm linked to listeria outbreak files for bankruptcy
DENVER (Reuters) - The Colorado farm that grew cantaloupes linked to a listeria outbreak that killed more than 30 people last year has filed for Chapter 11 bankruptcy protection, court documents showed. Jensen Farms of Holly, Colorado, listed $2.1 million in assets and more than $2.5 million in liabilities in documents filed on Friday in U.S. Bankruptcy Court in Denver. In its bankruptcy papers ... (Sat, 26 May 2012 23:02:44 -0700)

Bankruptcy by underwater homeowners has big drawbacks
QUESTION: About a month ago, you wrote an article about strategic default options for underwater homeowners. I was surprised that you didn't mention bankruptcy with surrender as an option for underwater homeowners. (Sun, 27 May 2012 01:42:56 -0700)

Bankruptcy trustee seeks money from Canyon County
BOISE, Idaho (AP) — A bankruptcy trustee has filed a motion asking a federal bankruptcy judge to make a summary judgment and order Canyon County to turn over $171,000 the county received from former P (Sun, 27 May 2012 09:33:55 -0700)

Farm tied to listeria outbreak files for bankruptcy
DENVER (Reuters) - The Colorado farm that grew cantaloupes linked to a listeria outbreak that killed more than 30 people last year has filed for Chapter 11 bankruptcy protection, court documents showed. (Sun, 27 May 2012 12:31:34 -0700)

DealBook: Dewey & LeBoeuf Files for Bankruptcy
The bankruptcy filing is the final chapter in a turbulent period for the law firm, which unraveled after disappointing profits and prodigious debt forced it to slash partners' salaries. (Sun, 27 May 2012 19:29:42 -0700)

Bankruptcy trustee seeks money from Canyon County in Bujak case
BOISE, Idaho (AP) -- A bankruptcy trustee has filed a motion asking a federal bankruptcy judge to make a summary judgment and order Canyon County to turn over $171,000 the county received from former Prosecutor John Bujak before Bujak filed for bankruptcy. (Mon, 28 May 2012 08:32:18 -0700)

Jamal Lewis files for Chapt. 11 bankruptcy
ATLANTA, May 28 (UPI) -- Former Baltimore Ravens running back Jamal Lewis has filed for Chapter 11 bankruptcy protection in Atlanta. (Mon, 28 May 2012 17:05:21 -0700)

Don Ha bankruptcy likely - liquidators
Bankruptcy is likely for one-time Auckland property king Don Ha, says a liquidators' report. (Mon, 28 May 2012 20:19:04 -0700)

US law firm Dewey & LeBoeuf files for bankruptcy
US law firm Dewey & LeBoeuf has filed for bankruptcy after a partner exodus, in what the New York Times called the biggest law firm collapse in US history. (Mon, 28 May 2012 23:57:24 -0700)

Use bankruptcy to get rid of car loan?
Dear Bankruptcy Adviser,I had a vehicle loan with my ex-husband, and both names were listed on the car. When we were together, we could afford the "large" payment, but I cannot afford it on my ... (Tue, 29 May 2012 00:04:59 -0700)

Major law firm files for bankruptcy
The long decline of Dewey & LeBoeuf ended as the foundering law firm filed for bankruptcy protection in federal court in New York. (Tue, 29 May 2012 04:44:27 -0700)

Dewey and LeBoeuf Bankruptcy A One-Off, But Still...
Dewey & LeBoeuf files for bankruptcy, signalling trouble for big law firms that take on too much debt. (Tue, 29 May 2012 05:30:58 -0700)

Too Big to Work: Dewey and LeBoeuf Bankruptcy Sets Records
Dewey & LeBoeuf, a law firm that employees thousands, filed for bankruptcy on Monday night. We probably would to if we had a debt of $245 million. Dealbook's Peter Lattman calls the filing, "the largest law firm collapse in United States history" and Bloomberg's Linda Sandler, Sophia Peterson, and Joe Schneider point out that Dewey is about $245 million in debt which overshadow its $193 million ... (Tue, 29 May 2012 06:17:36 -0700)

US law firm Dewey & LeBoeuf files for bankruptcy
US law firm Dewey & LeBoeuf has filed for bankruptcy after a partner exodus, in what the New York Times called the biggest law firm collapse in US history. (Tue, 29 May 2012 06:53:39 -0700)

Dewey & LeBoeuf files for bankruptcy
The long decline of Dewey & LeBoeuf ended as the foundering law firm filed for bankruptcy protection in federal court in New York. (Tue, 29 May 2012 07:41:11 -0700)

File Bankruptcy to Get Rid of Car Loan?
Use bankruptcy to get rid of car loan? (Tue, 29 May 2012 11:46:51 -0700)

Boston Hannah International Files Bankruptcy Liquidation
Boston Hannah International LLC, a publishing company, filed for bankruptcy court liquidation. (Tue, 29 May 2012 14:20:45 -0700)

Months of turmoil at Dewey & LeBoeuf end in Chapter 11 bankruptcy filing
New York law firm Dewey & LeBoeuf filed for Chapter 11 bankruptcy protection this week, capping a tumultuous five-month period that saw the once-prestigious corporate law firm unravel quickly as top partners, including several in Washington, fled to new firms. Read full article >> (Tue, 29 May 2012 16:19:00 -0700)

Embattled law firm Dewey & LeBoeuf files for Chapter 11 bankruptcy
NEW YORK — The embattled law firm Dewey & LeBoeuf has filed for bankruptcy protection, a move that effectively ends what had been at its height a 1,300-lawyer global enterprise (Wed, 30 May 2012 00:05:11 -0700)

Don't co-sign a loan while in Chapter 13 bankruptcy
If you filed for Chapter 13 bankruptcy, the last thing you should consider is co-signing a car loan for anyone, including your partner (Wed, 30 May 2012 05:00:00 -0700)

Bankruptcy Judge Says Hawker Can Keep Borrowing On $400 Million Loan
Bankruptcy Judge Says Hawker Can Keep Borrowing On $400 Million Loan (Wed, 30 May 2012 09:56:46 -0700)

Harrisburg mayor: will fight for bankruptcy right
(Reuters) - The mayor of Pennsylvania's debt-laden capital city said on Wednesday she will fight for the city's ability to declare bankruptcy after June 30. A state law that bars small Pennsylvania cities from filing for municipal bankruptcy is to expire at the end of June. That law led a bankruptcy judge in November to reject a filing by Harrisburg, the capital city. Municipal officials are ... (Wed, 30 May 2012 13:08:53 -0700)

YVEC appeals bankruptcy ruling
Yellowstone Valley Electric Cooperative is appealing a bankruptcy judge’s denial of its request to resume a lawsuit against its wholesale power supplier. (Wed, 30 May 2012 15:55:00 -0700)

Analysis: Dewey's bankruptcy: Let the rumble begin
(Reuters) - As law firm Dewey & LeBoeuf embarks on the humbling process of working through bankruptcy, creditors and former partners are bracing themselves for a nasty court battle that could drag on for years. Dewey, a storied firm with deep Wall Street connections, filed for Chapter 11 protection on Monday night. The firm had veered toward collapse over the last six months amid revelations of ... (Wed, 30 May 2012 16:14:25 -0700)

Dewey's bankruptcy: Let the rumble begin
As law firm Dewey & LeBoeuf embarks on the humbling process of working through bankruptcy, creditors and former partners are bracing themselves for a nasty court battle that could drag on for years. (Wed, 30 May 2012 18:03:21 -0700)

Stockton Council Plans Vote on Bankruptcy Authorization
The city manager of Stockton, California, may be granted authority to seek bankruptcy protection in a City Council vote scheduled for June 5, moving one step closer to a fate the city has sought to avoid. (Thu, 31 May 2012 06:30:03 -0700)

RG Steel files for bankruptcy protection
Steelmaker RG Steel LLC filed for Chapter 11 bankruptcy protection in Delaware on Thursday, a week after announcing it would idle factories in three states and lay off thousands of employees. (Thu, 31 May 2012 09:59:54 -0700)

Analysis: Dewey's bankruptcy: Let the rumble begin
(Reuters) - As law firm Dewey & LeBoeuf embarks on the humbling process of working through bankruptcy, creditors and former partners are bracing themselves for a nasty court battle that could drag on for years. Dewey, a storied firm with deep Wall Street connections, filed for Chapter 11 protection on Monday night. The firm had veered toward collapse over the last six months amid revelations of ... (Thu, 31 May 2012 10:08:06 -0700)

Bankruptcy reorganization for Colonial Country could be approved on July 11
The bankruptcy reorganization of Colonial Golf & Country Club moved closer to completion this week as a judge set a July 11 date for a final hearing in the case. The case was filed in February. G. Andrew Boyd /... (Thu, 31 May 2012 15:53:45 -0700)


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