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Home > Bankruptcy News

Bankruptcy News Jun 2012

Judge approves Dynegy bankruptcy pact with creditors
(Reuters) - Dynegy Inc on Friday won a U.S. bankruptcy judge's approval of a settlement with creditors, putting the power producer's Dynegy Holdings LLC unit one step closer to emerging from Chapter 11 protection. Chief Judge Cecelia Morris of the U.S. Bankruptcy Court for the Southern District of New York approved the settlement at a hearing in Poughkeepsie, New York. Some creditors this week ... (Fri, 01 Jun 2012 12:21:36 -0700)

Judge OKs Dynegy bankruptcy pact with creditors
(Reuters) - Dynegy Inc on Friday won a U.S. bankruptcy judge's approval of a settlement with creditors, putting the power producer's Dynegy Holdings LLC unit one step closer to emerging from Chapter 11 protection. Chief Judge Cecelia Morris of the U.S. Bankruptcy Court for the Southern District of New York approved the settlement at a hearing in Poughkeepsie, New York. Some creditors this week ... (Fri, 01 Jun 2012 13:28:50 -0700)

Konarka Technologies Files for Chapter 7 Bankruptcy Protection
Konarka Technologies, Inc., a leading developer of thin-film solar panels, has filed for bankruptcy protection under chapter 7 of the Federal bankruptcy laws. Under chapter 7 proceedings, the company’s operations cease and a trustee is tasked with liquidating the company’s assets for the benefit of creditors. (Fri, 01 Jun 2012 14:10:00 -0700)

Bankruptcy filings in South Florida fall for third month
The number of South Florida bankruptcy filings fell in May for the third straight month. (Sat, 02 Jun 2012 09:12:55 -0700)

Bankruptcy proceedings: chapter and verse
Although there are nine chapters in the Federal Bankruptcy Code, the most common are Chapters 7, 11, and 13. (Sat, 02 Jun 2012 15:00:00 -0700)

Bankruptcy filings in South Florida fall for third month
The number of South Florida bankruptcy filings fell in May for the third straight month. (Sat, 02 Jun 2012 16:08:49 -0700)

Mastro's bankruptcy saga has taken bizarre twists
July 2009: Three banks that loaned Michael Mastro money petition to force him into Chapter 7 bankruptcy involuntarily. After at first resisting... (Sat, 02 Jun 2012 20:13:22 -0700)

Vitro Confronts Bondholders in Bid to Enforce Bankruptcy Plan
After the U.S. recession and bad bets on derivatives contracts sent Mexican glassmaker Vitro SAB (VITROA) into bankruptcy, the company has a restructuring plan in place. At least in Mexico. (Sun, 03 Jun 2012 21:23:34 -0700)

Poland's PBG seeks bankruptcy over Euro 2012 snags
* Low-margin road deals weigh on liquidity (Mon, 04 Jun 2012 08:16:00 -0700)

Dewey Bankruptcy Docket Report: Next Up, Stephen DiCarmine
Now that Dewey & LeBoeuf LLP has landed in bankruptcy court, the team winding down the firm's estate is busy scouring for money to pay off some $315 million of debt--and the parade of creditors who say they are owed money by the once-mighty New York law firm is growing daily. One of the more interesting names to pop up on the bankruptcy docket last week: Stephen DiCarmine, the firm's former ... (Mon, 04 Jun 2012 11:00:55 -0700)

Apple Says Patent Fight With Kodak Isn't for Bankruptcy Court
Apple is calling Eastman Kodak's attempt to use the Bankruptcy Code to decide quickly whether Apple has an interest in certain patents a "gambit," saying a district court should decide the matter. (Mon, 04 Jun 2012 14:07:54 -0700)

Bankruptcy lawyers resist scrutiny over fees
WASHINGTON (Reuters) - The bankruptcy lawyers who handle the biggest U.S. corporate restructurings responded with hostility on Monday to new scrutiny of their fees, which can reach hundreds of millions of dollars at the expense of creditors. The lawyers told officials of the U.S. Justice Department they do not want to keep a budget, they do not want to disclose details of their billing practices ... (Mon, 04 Jun 2012 16:40:15 -0700)

Why is filing for bankruptcy taking forever?!
Dear Bankruptcy Adviser,Why does it take so long to get bankruptcy papers filed and processed? I have a friend who said she gave papers to the attorney more than eight months ago and paid the full fee, ... (Tue, 05 Jun 2012 00:00:30 -0700)

One Exchange Street Launches Platform for Online Trading in Bankruptcy Claims
COLUMBUS, Ohio, June 5, 2012 /PRNewswire/ -- One Exchange Street, Inc. ( www.oneexchangestreet.com ) today announced the launch of its innovative platform enabling online trading in select types of bankruptcy ... (Tue, 05 Jun 2012 05:40:00 -0700)

Bankruptcy hearing for former Baltimore Raven Jamal Lewis postponed
ATLANTA - A bankruptcy court hearing for former Baltimore Ravens running back Jamal Lewis has been delayed. (Tue, 05 Jun 2012 08:18:46 -0700)

Berkshire Hathaway Wants Examiner in ResCap Bankruptcy Case
Warren Buffett's Berkshire Hathaway Inc. (BRKA, BRKB) wants an independent examiner appointed in the bankruptcy case of Ally Financial Inc. mortgage subsidiary Residential Capital LLC. (Tue, 05 Jun 2012 08:25:12 -0700)

Bankruptcy hearing for Jamal Lewis postponed
A bankruptcy court hearing in Atlanta for former Baltimore Ravens running back Jamal Lewis has been delayed. (Tue, 05 Jun 2012 08:47:07 -0700)

Lewis' bankruptcy hearing postponed
A bankruptcy court hearing in Atlanta for former Baltimore Ravens running back Jamal Lewis has been delayed. (Tue, 05 Jun 2012 09:19:28 -0700)

Ex-Raven Jamal Lewis bankruptcy hearing postponed
A bankruptcy court hearing in Atlanta for former Baltimore Ravens running back Jamal Lewis has been delayed. (Tue, 05 Jun 2012 09:40:21 -0700)

Ex-NFL player Jamal Lewis' bankruptcy hearing rescheduled
ATLANTA (Reuters) - A court hearing on the status of former Baltimore Ravens running back Jamal Lewis' bankruptcy case was postponed in Atlanta on Tuesday amid signs that he would submit required financial records and meet with court officials. Lewis, who retired from the National Football League in 2009 after 10 seasons and also played for the Cleveland Browns, filed for bankruptcy on April 4 ... (Tue, 05 Jun 2012 11:05:51 -0700)

Stockton Empowers Manager to Put City Into Bankruptcy
The Stockton, California, City Council voted to authorize a bankruptcy filing as soon as June 26 if officials fail to win concessions from creditors that would allow it to avoid becoming the biggest U.S. city to enter court protection. (Tue, 05 Jun 2012 22:30:05 -0700)

Calif. city's lawmakers ready bankruptcy plan
A California city that has the second-highest foreclosure rate in the nation is preparing for a possible bankruptcy filing if officials are unable to broker a deal with the city's creditors. (Wed, 06 Jun 2012 03:24:14 -0700)

Jefferson County Creditors Denied Bankruptcy Committee
Jefferson County, Alabama’s creditors can’t form an official committee until they find new members willing to serve on the panel, the judge overseeing the county’s bankruptcy ruled today. (Wed, 06 Jun 2012 08:37:47 -0700)

Bankruptcy Fees: The $1,800-an-Hour Ted Olson Edition
Court filings in bankruptcy cases provide a rare glimpse at how much top lawyers charge for their services--prices that regularly exceed $1,000 an hour, to the dismay of some at the Justice Department who want firms that work on big bankruptcy cases to provide more detailed rate disclosures. But $1,000 an hour is chump change compared to what former Solicitor General Theodore Olson bills per ... (Wed, 06 Jun 2012 09:01:33 -0700)

News Summary: Calif. city readies bankruptcy plan
POSSIBLE BANKRUPTCY FILING: A California city that has the second-highest foreclosure rate in the nation is preparing for a possible bankruptcy filing. Stockton would become the nation's largest city ever to file for bankruptcy. (Wed, 06 Jun 2012 13:25:17 -0700)

Tribune Pushes to Exit Bankruptcy Into Depressed Market
Tribune Co. begins its last big court fight today, one of two steps remaining before the publisher exits bankruptcy into a newspaper market where values have dropped by half. (Wed, 06 Jun 2012 21:20:45 -0700)

Bankruptcy Law Professionals Helps Clients with Low Cost Bankruptcy Services
Slow economic recovery for consumers has prompted Bankruptcy Law Professionals to cut their bankruptcy service price to start at $795 for those in need of affordable bankruptcy legal services at all of their locations in Riverside and Orange County.Riverside, CA (PRWEB) June 07, 2012 Bankruptcy Law Professionals, a law firm based in Tustin, CA, with offices in Tustin, Riverside, and La Mirada ... (Thu, 07 Jun 2012 00:12:18 -0700)

Fitch Publishes Bankruptcy Enterprise Valuation and Recovery Case Studies Report
Fitch Ratings has published the inaugural edition of a U.S. bankruptcy case study series that provides in-depth reviews of 40 U.S. bankruptcy cases including details of enterprise (Thu, 07 Jun 2012 06:20:00 -0700)

Tribune Co. may finally be leaving Bankruptcy Court
The bankruptcy judge overseeing the 3 1/2-year-old case is scheduled Thursday to consider a restructuring plan that, unlike previous ones, faces little opposition. It took 3 1/2 years and more than $400 million in fees to lawyers and other professionals, but it appears that Tribune Co. may finally be on the verge of winning approval for a plan to emerge from bankruptcy. (Thu, 07 Jun 2012 06:43:49 -0700)

Tribune seen nearing bankruptcy conclusion
WILMINGTON, Delaware (Reuters) - Tribune Co's long bankruptcy entered what is expected to be the final stage on Thursday, although the media company still faces months of regulatory clearances to transfer broadcast licenses to new owners. The owner of 23 television stations and publisher of the Chicago Tribune and Los Angeles Times asked a Delaware bankruptcy court to approve a reorganization ... (Thu, 07 Jun 2012 14:45:55 -0700)

Bankruptcy judge begins hearing on Tribune plan
A federal bankruptcy judge in Delaware is reviewing Tribune Co.'s latest proposal to emerge from Chapter 11 protection. (Thu, 07 Jun 2012 15:34:39 -0700)

Bankruptcy filings up 3.2% from a year ago
For the first time in two years, new bankruptcy filings in Western New York rose slightly in May from a year ago in what may be the first sign that the level of new cases may be reaching a plateau. (Fri, 08 Jun 2012 05:49:35 -0700)

BANKRUPTCY WEEK AHEAD: Kodak Seeks Patent Ruling
BANKRUPTCY WEEK AHEAD: Kodak Seeks Patent Ruling (Fri, 08 Jun 2012 07:51:50 -0700)

BANKRUPTCY WEEK AHEAD: Kodak Seeks Patent Ruling
BANKRUPTCY WEEK AHEAD: Kodak Seeks Patent Ruling (Fri, 08 Jun 2012 08:05:30 -0700)

Judge plans written opinion in Tribune Co. bankruptcy
Decision could further delay company's Ch. 11 exit WILMINGTON, Del. -- The judge in Tribune Co.'s bankruptcy case said at a confirmation hearing here Friday that he planned to write a formal opinion on the company's restructuring plan and hoped to have something ready by early July. (Fri, 08 Jun 2012 08:10:49 -0700)

Tribune Creditors Focus on Post-Bankruptcy Lawsuits
As Tribune Co. (TRBCQ) closes in on confirmation of its Chapter 11 plan, attention has turned to the big-ticket litigation over the failed leveraged buyout that drove the media company to bankruptcy more than three years ago. (Fri, 08 Jun 2012 09:54:02 -0700)

Judge expects to rule in early July on Tribune bankruptcy
The judge handling the Tribune Co. bankruptcy case said Friday he expects to issue a written opinion in early July. Receipt of the opinion from U.S. Bankruptcy Judge Kevin Carey approving a plan to reorganize the Chicago-based media firm would allow Tribune to move to its next step toward bankruptcy emergence: getting federal approval to transfer ownership of broadcast licenses. Carey mentioned ... (Fri, 08 Jun 2012 09:57:36 -0700)

Tribune Judge May Rule on Bankruptcy Exit Plan by July
Tribune Co., the biggest newspaper publisher in bankruptcy, may learn by early July whether it has won the first of two rulings it needs to leave bankruptcy this year, lawyers involved in the case said. (Fri, 08 Jun 2012 10:05:44 -0700)

Judge plans written opinion in Tribune Co. bankruptcy
Decision could further delay company's Ch. 11 exit WILMINGTON, Del. -- The judge in Tribune Co.'s bankruptcy case said at a confirmation hearing here Friday that he planned to write a formal opinion on the company's restructuring plan and hoped to have something ready by early July. (Fri, 08 Jun 2012 11:12:48 -0700)

Sidley Austin Named Bankruptcy Team of the Year at the Chambers USA Awards for Excellence 2012
Sidley Austin LLP was named Bankruptcy Team of the Year for the United States by Chambers & Partners at an awards ceremony held on June 7. The Chambers USA Awards for Excellenc (Fri, 08 Jun 2012 12:22:00 -0700)

Tribune bankruptcy judge to write opinion on restructuring plan
U.S. Bankruptcy Judge Kevin Carey says he hopes to have an opinion ready by early July, when he is likely to either approve Tribune's restructuring plan or provide a road map on how to fix it. WILMINGTON, Del. — The judge in Tribune Co.'s bankruptcy case said he planned to write a formal opinion on the company's restructuring plan and hoped to have something ready by early July. (Sat, 09 Jun 2012 00:13:27 -0700)

RI eyeing liability in Schilling firm bankruptcy
The state of Rhode Island is working to determine how much it stands to lose in a $75 million loan guarantee deal for former Red Sox pitcher Curt Schilling's video gaming company after its bankruptcy filing this week. (Sat, 09 Jun 2012 06:35:53 -0700)

The Trouble With Bankruptcy Lawyers
By opposing proposed guidelines to lower their high fees, bankruptcy lawyers show they are out of touch with economic realities and undermine public confidence in the bankruptcy process. (Sat, 09 Jun 2012 16:05:51 -0700)

Harrisburg bankruptcy debate rises as expiration date for state law nears
A majority of Harrisburg’s City Council is convinced that bankruptcy is the only viable debt resolution the city has left. Harrisburg’s state-sponsored debt-recovery plan almost guarantees the city will be saddled with leftover incinerator debt after Harrisburg’s assets are sold and leased , especially since the state doesn’t plan to negotiate with creditors until its assets are gone, council ... (Sat, 09 Jun 2012 20:55:24 -0700)

Too broke for bankruptcy
Bankruptcy is sometimes the only means for thousands of Americans to escape debt. In fact, 250 people file here in Northwest Louisiana a month. (Sun, 10 Jun 2012 18:38:30 -0700)

Philadelphia Orchestra to make expedited exit from bankruptcy
The Philadelphia Orchestra Association can exit from bankruptcy on an expedited schedule.In a hearing Monday in U.S. Bankruptcy Court, Judge Eric L. Frank said he would approve a timeline to bring the orchestra before the court again on June 28 for a confirmation hearing. Because of the "aggressive scheduling," Frank said, any objections to the orchestra's reorganization plan would have to be ... (Tue, 12 Jun 2012 00:25:31 -0700)

Loans.org Says No to Discharging Student Loans through Bankruptcy
LOS ANGELES, June 12, 2012 /PRNewswire/ -- As student loan debt soars to unprecedented levels, current students and graduates alike are begging the government for relief. Many are proposing bankruptcy ... (Tue, 12 Jun 2012 03:00:00 -0700)

Bankruptcy Judges Can’t Hear Madoff Suits, Defendants Say
By law, such suits that aim to “augment” a bankrupt firm’s estate are based on common-law claims and require a ruling by a district judge, they said yesterday in the filing. (Tue, 12 Jun 2012 07:20:44 -0700)

First Person: 5 Steps to Recover From Bankruptcy
I've faced bankruptcy several times, but always managed to avoid it. Once you declare bankruptcy, it becomes part of your legal record, and usually prevents you from easily getting credit cards, home mortgages and auto loans. Even after your bankruptcy record is clean, it could take up to 10 years to reestablish good credit. (Tue, 12 Jun 2012 07:56:00 -0700)

ResCap Offers Investors $8.7 Billion Bankruptcy Claim
Residential Capital LLC, the bankrupt home-loan company owned by the U.S. government, asked court permission to settle a legal fight over mortgage-backed securities by giving investors the right to pursue an $8.7 billion claim in bankruptcy. (Tue, 12 Jun 2012 09:37:32 -0700)

Kodak's bankruptcy auction plan
Kodak files a motion with a US bankruptcy court to sell off more than 1,000 patents to save the firm. (Tue, 12 Jun 2012 12:19:10 -0700)

Can a Past Bankruptcy Harm My Job Chances?
Hard times can befall us all. Unfortunately, they can affect your shot at landing a new job. (Tue, 12 Jun 2012 13:25:16 -0700)

How to survive a personal bankruptcy
To some, having to declare bankruptcy seems to constitute the ultimate failure. For others, it is a brand-new start and an opportunity to manage their financial life responsibly in the future. (Tue, 12 Jun 2012 16:54:30 -0700)

Bankruptcy imminent for Sadler Clinic?
A document from a Houston bankruptcy attorney to someone affiliated with Sadler Clinic states that salaried employees who have not been paid will be scheduled as a “priority creditor” in bankruptcy ac (Tue, 12 Jun 2012 20:47:24 -0700)

Philadelphia Orchestra to make expedited exit from bankruptcy
The Philadelphia Orchestra Association can exit from bankruptcy on an expedited schedule.In a hearing Monday in U.S. Bankruptcy Court, Judge Eric L. Frank said he would approve a timeline to bring the orchestra before the court again on June 28 for a confirmation hearing. Because of the "aggressive scheduling," Frank said, any objections to the orchestra's reorganization plan would have to be ... (Tue, 12 Jun 2012 22:11:54 -0700)

Vitro's Mexican Bankruptcy Has New York Hedge Funds Screaming Caramba!
A federal judge in Dallas will issue a decision as early as today that could determine whether Mexican glassmaker Vitro SAB pulls off what in the U.S. would be an almost impossible feat: Emerging from bankruptcy cleansed of $1.9 billion in debt, with its shareholder value largely intact. (Wed, 13 Jun 2012 06:44:11 -0700)

Let's Face It, Searching for an Experienced Bankruptcy Attorney in California is Frustrating, Boring, and Just Plain ...
NEWARK, Del., June 13, 2012 /PRNewswire/ -- When searching for a bankruptcy attorney in California , everyone understands the importance of working with an experienced attorney.  But how do you measure ... (Wed, 13 Jun 2012 10:00:00 -0700)

Vitro Bondholders Defeat Bankruptcy Plan Enforcement in U.S.
Vitro SAB (VITROA) lost its bid for a court ruling enforcing its Mexican bankruptcy plan in the U.S. as a federal judge ruled in favor of bondholders that have been fighting the glassmaker’s restructuring. (Wed, 13 Jun 2012 17:35:44 -0700)

U.S. Bankruptcy Court Agrees to Enforce Vitro S.A.B.'s Mexican Plan of Reorganization
SAN PEDRO GARZA GARCIA, Mexico, June 13, 2012 /PRNewswire/ -- Vitro S.A.B. de C.V. (BMV: VITROA) announced today that the U.S. Bankruptcy Court in Dallas, Texas, has ruled that it will enforce in the U.S., ... (Wed, 13 Jun 2012 19:25:00 -0700)

The San Diego Bankruptcy Lawyers at Golden State Law Group Offer Free Initial Consultation to Older Consumers Carrying ...
SAN DIEGO, CA-- - The San Diego bankruptcy lawyers at the Golden State Law Group, a law firm dedicated to helping consumers and businesses work through their financial problems, hereby announces that the ... (Thu, 14 Jun 2012 00:00:00 -0700)

APNewsBreak: 3rd bankruptcy in Perry's tech fund
A third company awarded taxpayer dollars through Gov. Rick Perry's business-hatching Emerging Technology Fund has filed for bankruptcy, folding after the state demanded new performance benchmarks not in the original contract, the company's president said Thursday. (Thu, 14 Jun 2012 09:56:55 -0700)

Bankruptcy Attorney Temecula Google Searches Still Going Strong, Bankruptcy Attorneys in Temecula CA are Offering Free ...
The law offices of Zhou & Chini has been helping residents in Temecula and all of Riverside county file for bankruptcy. They announced this month that their recent marketing efforts and completive prices for their services have brought the firm many new clients.Temecula, California (PRWEB) June 15, 2012 The search volume for term “bankruptcy attorney Temecula” in Google in down from a year ago ... (Fri, 15 Jun 2012 06:03:11 -0700)

Hawker Beechcraft bankruptcy plan outlines 3 options
Hawker Beechcraft’s Chapter 11 bankruptcy filing includes a plan called “Project Flight,” which assesses what the company could look like as it emerges from reorganization. (Fri, 15 Jun 2012 07:27:13 -0700)

Solyndra close to filing bankruptcy plan
A California-based solar panel manufacturer that received a half-billion dollar loan from the federal government before filing for bankruptcy protection is close to filing a proposal for what to do next.An ... (Fri, 15 Jun 2012 09:09:27 -0700)

BANKRUPTCY WEEK AHEAD: Court to Weigh Examiner for ResCap
A bankruptcy judge on Monday is slated to take up Warren Buffett's request for an investigation of the relationship between General Motors' (GM) former financing arm and its Residential Capital LLC mortgage subsidiary. (Fri, 15 Jun 2012 09:47:34 -0700)

McFeely's bankruptcy is annulled
The British bankruptcy of Tom McFeely, an IRA hunger striker turned developer, has been annulled by a court in London. (Fri, 15 Jun 2012 11:24:05 -0700)

Tom McFeely has British bankruptcy overturned
Controversial property developer Tom McFeely's British bankruptcy status has been overturned. (Fri, 15 Jun 2012 13:00:42 -0700)

Victoria Sprouse to be jailed until trial for bankruptcy fraud charges
Charlotte real estate lawyer Victoria Sprouse pleaded not guilty to eight charges relating to bankruptcy fraud Friday morning, and was ordered to stay in jail until her trial by the judge, who described the charges as “breathtaking acts of deception by a trained lawyer.” (Fri, 15 Jun 2012 16:22:11 -0700)

Developer McFeely bankruptcy overturned following challenge
THE BANKRUPTCY in London of property developer Tom McFeely, who built the controversial Priory Hall apartment complex in Dublin, has been overturned following a legal challenge launched by one of his Irish creditors. (Fri, 15 Jun 2012 16:36:49 -0700)

Developer McFeely bankruptcy overturned following challenge
THE BANKRUPTCY in London of property developer Tom McFeely, who built the controversial Priory Hall apartment complex in Dublin, has been overturned following a legal challenge launched by one of his Irish creditors. (Fri, 15 Jun 2012 17:31:29 -0700)

U.S. Bankruptcy Court Clarifies Opinion on Vitro S.A.B.'s Mexican Plan of Reorganization
SAN PEDRO GARZA GARCIA, Nuevo Leon, Mexico, June 15, 2012 /PRNewswire/ -- Vitro S.A.B. de C.V. (BMV: VITROA) announced today that the U.S. Bankruptcy Court in Dallas, Texas, has issued a clarification ... (Fri, 15 Jun 2012 21:18:00 -0700)

Bankruptcy Lawyers’ Fees
The chairman of the National Bankruptcy Conference responds to an editorial. (Sat, 16 Jun 2012 18:53:00 -0700)

Bankruptcy means fleeced Keddie clients will lose money
HAVING made millions of dollars from the gross overcharging of injured clients, the struck-off solicitor Russell Keddie has declared himself bankrupt, which means he does not have to comply with court orders to repay dozens of former clients. (Sun, 17 Jun 2012 10:17:15 -0700)

Ayanna Kilpatrick files for bankruptcy
The sister of former Mayor Kwame Kilpatrick, who owns the rights to her brother's autobiography, has filed Chapter 7 bankruptcy, listing more than $345,000 in liabilities — including more than $54,000 in delinquent federal taxes. (Mon, 18 Jun 2012 10:04:12 -0700)

ResCap Judge Approves Probe Into Pre-Bankruptcy Deals
The judge overseeing Residential Capital LLC’s bankruptcy case approved a probe of deals the mortgage company cut with parent Ally Financial Inc. (ALLY) and others before it sought court protection from creditors. (Mon, 18 Jun 2012 11:53:37 -0700)

In Win for Buffett, Judge Approves Examiner in ResCap Bankruptcy
A judge on Monday granted the wish of Warren Buffett's Berkshire Hathaway Inc. (BRKA, BRKB) for an independent examiner to be named in the bankruptcy case of Residential Capital LLC, as Berkshire and others continue to seek the loan assets being sold by the Ally Financial Inc. subsidiary. (Mon, 18 Jun 2012 13:13:19 -0700)

Museum: Bankruptcy isn't Silver's business
BY CHELYEN DAVIS The bankrupt U.S. National Slavery museum says Celebrate Virginia has no right to attempt to force the museum to liquidate.... (Mon, 18 Jun 2012 21:42:45 -0700)

Pre-bankruptcy Ally deals by Residential Capital to be probed
The judge overseeing Residential Capital LLC's bankruptcy case approved a probe of deals the mortgage company cut with its parent, Detroit-based Ally Financial Inc., and others before it sought court protection from creditors. (Mon, 18 Jun 2012 22:02:11 -0700)

Kwame Kilpatrick's sister files bankruptcy petition
Detroit— The sister of former Mayor Kwame Kilpatrick, who owns the rights to her brother's autobiography, has filed Chapter 7 bankruptcy, listing more than $345,000 in liabilities — including more than $54,000 in delinquent federal taxes. (Mon, 18 Jun 2012 23:50:42 -0700)

Bankruptcy as an Option at Navistar?
With two big investors in the past week taking stakes that control more than 25 percent of Navistar's stock, bankruptcy would appear to be the last thing that could happen at beleaguered Navistar. (Tue, 19 Jun 2012 07:22:17 -0700)

Bankruptcy as an Option at Navistar?
With two big investors in the past week taking stakes that control more than 25 percent of Navistar's stock, bankruptcy would appear to be the last thing that could happen at beleaguered Navistar. (Tue, 19 Jun 2012 08:47:16 -0700)

Report: Stockton bankruptcy may be avoidable
A detailed report on Stockton's financial woes concludes bankruptcy may yet be avoided if only (Wed, 20 Jun 2012 08:21:18 -0700)

Greenberg Glusker Brings Brian Davidoff and Bankruptcy, Corporate Group on Board
Greenberg Glusker announced today that bankruptcy attorney Brian L. Davidoff and his practice group will join the Firm, effective July 1, 2012. Davidoff will head the Firm’s Bankruptcy and Financial Restructuring Group. (Wed, 20 Jun 2012 10:00:00 -0700)

Bankruptcy judge OKs Petters clawback settlements
Nearly $34 million to be repaid by General Electric Capital Corp., law firm Fredrikson & Byron and the John T. Petters Foundation. (Wed, 20 Jun 2012 10:18:07 -0700)

Madoff Class-Action Lawsuit Is Barred by Bankruptcy Judge
A class-action lawsuit filed in Florida against the estate of former Bernard Madoff investor Jeffry Picower was stopped by a U.S. bankruptcy judge in Manhattan, who said the suit violates the law. (Wed, 20 Jun 2012 15:35:46 -0700)

Lumberjack Days organizer files personal bankruptcy
The organizer of Stillwater's Lumberjack Days festival filed for personal bankruptcy Tuesday, June 19, according to documents filed in U.S. Bankruptcy Court in Minneapolis. (Wed, 20 Jun 2012 16:52:24 -0700)

File bankruptcy to scuttle old boat debt?
Dear Debt Adviser,I was laid off in November 2008 with many others. I owned a boat at the time. I tried to work with the lender to lower payments until I could find a job. They would not compromise, so ... (Thu, 21 Jun 2012 00:03:31 -0700)

Lightsquared Seeks $30 Million Loan to Run in Bankruptcy
An affiliate of LightSquared Inc., Philip Falcone’s bankrupt wireless broadband venture, is seeking to borrow as much as $30 million to keep operating while under court protection from creditors. (Thu, 21 Jun 2012 08:50:44 -0700)

Houghton Mifflin to Exit Bankruptcy But Must Move Case
Houghton Mifflin Harcourt Publishing Co. won permission to exit bankruptcy under a restructuring plan that will slash $3 billion in debt from the business behind publications ranging from mathematical textbooks to children's literature staple "Curious George." Judge Robert Gerber of the U.S. Bankruptcy Court in Manhattan Thursday said he would sign off on the publisher's plan and plan outline ... (Thu, 21 Jun 2012 10:30:57 -0700)

Diocese of Davenport bankruptcy comes to an end
The four-year Diocese of Davenport bankruptcy case has been closed by Judge Lee Jackwig, the chief judge of the U.S. Bankruptcy Court, Southern District of Iowa, the diocese announced in a news release issued this afternoon. (Thu, 21 Jun 2012 10:45:00 -0700)

Analysis: Grim prospects for Stockton as bankruptcy looms
SAN FRANCISCO (Reuters) - A costly mess, including court battles with employees and lenders that could stretch over years, is likely to await Stockton, California, if it cannot reach a last-minute deal with creditors and becomes the largest U.S. city ever to file for bankruptcy. "A Chapter 9 bankruptcy proceeding is complicated, expensive, time-consuming and uncertain," said James Spiotto, a ... (Thu, 21 Jun 2012 20:38:23 -0700)

Iowa diocese leaves bankruptcy after abuse scandal
The Diocese of Davenport has emerged from bankruptcy after following through with plans to pay $37 million to dozens of people who said they were sexually abused by priests and change policies to prevent future cases, church officials said Thursday. (Fri, 22 Jun 2012 05:09:46 -0700)

Stockton bankruptcy likely to be costly mess
Court battles with employees and lenders that could stretch over years is likely to await Stockton, Calif., if it becomes the largest U.S. city ever to file for bankruptcy. (Fri, 22 Jun 2012 07:47:55 -0700)

Ritz Camera & Image lands in bankruptcy again
(Reuters) - Photography retail chain Ritz Camera & Image LLC filed for bankruptcy protection in a U.S. court early on Friday, less than three years after it emerged from its first bankruptcy. The company, which was founded in 1918, was bought in a bankruptcy auction in 2009 by a group led by its top executive. RCI, the group that included Ritz Camera President David Ritz, had entered a winning ... (Fri, 22 Jun 2012 08:33:09 -0700)

BANKRUPTCY WEEK AHEAD: Paulson-Owned Resort Group Faces Off With Hilton
A trial between a group of well-known luxury resorts and Hilton Worldwide is set to begin next Friday in New York. (Fri, 22 Jun 2012 11:00:52 -0700)

Madoff Trustee Seeks to Revive Tossed Suits: Bankruptcy
The trustee liquidating Bernard L. Madoff Investment Securities LLC filed a mass appeal asking the U.S. Court of Appeals in Manhattan to revive about $10 billion in lawsuits against 635 customers that have been or will be dismissed by U.S. District Judge Jed Rakoff. (Fri, 22 Jun 2012 12:05:44 -0700)

Ritz Camera files for bankruptcy protection, again
Ritz Camera & Image, a Beltsville-based photography retail chain, filed for Chapter 11 bankruptcy protection Friday, less than three years after emerging from its first bankruptcy . The move comes as brick-and-mortar consumer-electronics stores face increasing competition from online rivals and more and more people rely on their cellphones to take pictures instead of buying cameras and other ... (Fri, 22 Jun 2012 16:17:00 -0700)

Bankruptcy Attorney Orange County CA Service Offered by Zhou & Chini, Bankruptcy Attorneys Launch Ad Campaign Offering ...
Orange County bankruptcy law firm Zhou & Chini are expanding their marketing efforts in Orange County CA. The search volume for the phrase “bankruptcy attorney Orange County” is still a highly searched term in Google. With the housing market in Southern California and the current job market has many Orange County residents looking for a possible solution. The Law Offices of Zhou & Chini have ... (Sat, 23 Jun 2012 03:02:07 -0700)

Ex-UGA coach reaches bankruptcy settlement
Former University of Georgia football coach Jim Donnan has agreed to a proposed bankruptcy settlement with a West Virginia company and investors who say the ex-coach owes them $40 million lost in a Ponzi scheme, according to documents filed in federal cou (Sat, 23 Jun 2012 13:56:24 -0700)

Ex-UGA coach reaches proposed deal in bankruptcy
Former University of Georgia football coach Jim Donnan has agreed to a proposed bankruptcy settlement with a West Virginia company and investors who say the ex-coach owes them $40 million lost in a Ponzi scheme, according to documents filed in federal court. (Sat, 23 Jun 2012 14:16:25 -0700)

Bankruptcy deal for ex-UGA coach?
Former University of Georgia football coach Jim Donnan has agreed to a proposed bankruptcy settlement with a West Virginia company and investors who say the ex-coach owes them $40 million lost in a Ponzi scheme, according to documents filed in federal court. (Sat, 23 Jun 2012 17:54:18 -0700)

Ambrose: Bankruptcy petition preparers said to overstep bounds
Consumers advised to take advantage of free legal help from lawyers instead When it comes to filing for bankruptcy, Marylanders are more likely to be do-it-yourselfers than debtors in other states. (Sun, 24 Jun 2012 07:12:22 -0700)

Stockton Faces End of Mediation, Weighs Bankruptcy
Calif.'s Stockton faces mediation deadline, weighs becoming the biggest US city in bankruptcy (Sun, 24 Jun 2012 08:46:29 -0700)

McFeely bankruptcy application expedited
PROPERTY DEVELOPER Tom McFeely, whose first application for bankruptcy was overturned by the High Court in London earlier this month, is to have the hearing of his second application accelerated, it has emerged. (Sun, 24 Jun 2012 17:08:43 -0700)

Furor at steel tycoon Rennert's bankruptcy 'ploy'
The bankruptcy of New York billionaire Ira Rennert’s steel mill has environmental groups hotter than a blast furnace. “His company is ducking out of any kind of responsibility again,” fumed Russell Donnelly, an environmentalist in Sparrows Point, Md., the town where the old Bethlehem Steel facility Rennert owns has... (Sun, 24 Jun 2012 23:02:14 -0700)

File bankruptcy to dispose of my debt?
Dear Debt Adviser,I have so much debt that I have to juggle among my income, payday loans and taking what I put in my 401(k) each month to pay my bills. I am not behind, but I'm sick of juggling. Is bankruptcy ... (Mon, 25 Jun 2012 00:00:39 -0700)

California city could declare bankruptcy this week
Stockton, Calif., is set to declare bankruptcy as early as this week, according to local officials, a move that would make it one of the largest U.S. cities ever to file for reorganization. (Mon, 25 Jun 2012 04:32:43 -0700)

Bankruptcy forces 89-year-old WWII vet from home
A World War II veteran who lists a $981 monthly Social Security check as his only income has had to move out of his western Montana home after his late wife's medical bills led him to file for bankruptcy. (Mon, 25 Jun 2012 07:15:11 -0700)

Stockton faces end of mediation, weighs bankruptcy
Stockton, the California city with the nation's second-highest foreclosure rate, is facing a moment of decision on whether to become the biggest city to file for bankruptcy, as a deadline for talks between the city and its creditors approached late Monday. (Mon, 25 Jun 2012 09:04:29 -0700)

Bankruptcy deadline looms for Stockton city leaders
The California city with the nation's second-highest foreclosure rate, is facing a moment of decision on whether to become the biggest city to file for bankruptcy, as a deadline for talks between the city and its creditors approached late Monday. City officials are still hoping to reach a deal that would restructure millions of dollars of debt under a new state mediation law designed to help ... (Mon, 25 Jun 2012 10:23:15 -0700)

Houghton, Ritz Camera, Hostess, Dewey, Bicent: Bankruptcy
Houghton Mifflin Harcourt Publishing Co. improperly filed its prepackaged reorganization in New York, the bankruptcy judge ruled on June 22, one day after signing a confirmation order approving the Chapter 11 plan for the Boston- based educational publisher. (Mon, 25 Jun 2012 11:50:46 -0700)

File Bankruptcy to Dispose of My Debt?
There are ways out of debt without filing for bankruptcy. Start with a spending plan.   (Mon, 25 Jun 2012 14:36:31 -0700)

Use bankruptcy to keep house and ditch ex?
Dear Bankruptcy Adviser,My husband and I are legally separated, and he resides in the home, but I moved out. We have a mortgage on the house, and he's refused to leave the property but also has not made ... (Tue, 26 Jun 2012 00:00:14 -0700)

Stockton, California to take up bankruptcy budget plan
STOCKTON, California (Reuters) - Stockton, California was poised on Tuesday to take a major step toward becoming the largest U.S. city ever to file for bankruptcy after talks with its creditors on Monday at midnight. Negotiations aimed at averting bankruptcy may press on informally, the city's spokeswoman said, adding that city officials would next discuss any moves toward bankruptcy at the city ... (Tue, 26 Jun 2012 02:57:27 -0700)

Biggest City Bankruptcy Looms Over Stockton, Calif.
Stockton, Calif., could file for bankruptcy as early as Wednesday, according to its city manager. If that happens, the town of about 300,000 people on the San Joaquin River will become the biggest U.S. city to go broke. (Tue, 26 Jun 2012 09:21:17 -0700)

Mexican glassmaker case may export U.S. bankruptcy rules
Mexican glassmaker Vitro SAB is heading to a U.S. appeals court to save its restructuring at home from an assault by U.S. creditors in a case that could transport the U.S. bankruptcy code beyond that nation's ... (Tue, 26 Jun 2012 10:05:54 -0700)

Mayor: Stockton appears headed for bankruptcy
Stockton could become the largest U.S. city to declare bankruptcy after a deadline to make a deal with its creditors passed and the city's mayor said Tuesday she did not believe a settlement had been reached. (Tue, 26 Jun 2012 17:54:15 -0700)

Cash-strapped Stockton set to vote for bankruptcy
Cash-strapped Stockton set to vote for bankruptcy After desperately trying everything from huge budget cuts to secret negotiations with creditors, the Stockton City Council finally ran out of options Tuesday night and voted to file for bankruptcy. The 6-1 vote was to authorize a day-to-day operating budget, called a pendency plan, that will go into effect when city officials file for Chapter 9 ... (Tue, 26 Jun 2012 23:29:17 -0700)

Stockton, California, to File for Bankruptcy, City Says
Stockton, California, said it will file for bankruptcy after talks with bondholders and labor unions failed, making the agricultural center the biggest U.S.city to seek court protection from creditors. (Wed, 27 Jun 2012 00:05:00 -0700)

Stockton, California to file for bankruptcy
STOCKTON, California (Reuters) - Stockton, California will become the largest U.S. city to seek protection from its creditors after its leaders approved a budget on Tuesday night based on the city filing for bankruptcy. A Chapter 9 bankruptcy by the city of nearly 300,000 in California's Central Valley, about 85 miles east of San Francisco, could come as early as Wednesday. Stockton's city ... (Wed, 27 Jun 2012 01:13:47 -0700)

Decision Points: Bankruptcy vs. Debt Payment Plan
Massive debt can be crippling, but filing for bankruptcy can also be life altering. Here's a quick guide to help you decide. (Wed, 27 Jun 2012 07:41:08 -0700)

Stockton, Calif., to become largest city to file for bankruptcy
Stockton, Calif.— In opting to become the nation's largest city to seek federal bankruptcy protection, this river port of 290,000 took a rare financial step of last resort after struggling with the economic downturn, soaring pension costs and contractual obligations. (Wed, 27 Jun 2012 08:13:38 -0700)

Stockton, Calif., Heads for Bankruptcy Court After Mediation Fails
On Tuesday night, City Council members in Stockton, Calif., approved a new budget that will guide city operations during bankruptcy and amend a $26 million budget shortfall. (Wed, 27 Jun 2012 08:17:43 -0700)

Stockton Becomes Largest American City to File for Bankruptcy Protection
STOCKTON, Calif. — In opting to become the nation’s largest city to seek federal bankruptcy protection, this river port of 290,000 took a rare financial step of last resort after struggling with the economic downturn, soaring pension costs and contractual obligations. Thirteen cities, counties and other government entities filed for bankruptcy protection last year — [...] (Wed, 27 Jun 2012 08:57:37 -0700)

Stockton to be largest US city to file bankruptcy
In opting to become the nation's largest city to seek federal bankruptcy protection, Stockton took a rare financial step of last resort after struggling with the economic downturn, soaring pension costs and contractual obligations. (Wed, 27 Jun 2012 10:50:41 -0700)

Stockton bankruptcy: Other California cities concerned
City managers in Southern California are casting a wary eye on Stockton, the latest municipality to be headed toward bankruptcy court after spending on civic projects and labor costs accelerated far past its ability to pay its bills. Many city... (Wed, 27 Jun 2012 16:08:56 -0700)

Stockton, California, to file for bankruptcy
STOCKTON, California (Reuters) - Stockton, California, is expected to file for bankruptcy before the end of the week, becoming the largest U.S. city to seek protection from its creditors. Officials said that the city of nearly 300,000 could file for Chapter 9 bankruptcy by Friday afternoon, after the city council approved on Tuesday a budget that includes savings from the bankruptcy. ... (Wed, 27 Jun 2012 16:16:43 -0700)

Stockton bankruptcy: City could file as early as Thursday
Stockton is expected to file papers seeking bankruptcy protection in federal court as early as Thursday. The council, which decided to take the action Tuesday, ordered a stop to bond payments, slashed employee health and retirement benefits, and adopted a... (Wed, 27 Jun 2012 17:38:52 -0700)

Stockton bankruptcy is hard hit for city retirees
When Stockton becomes the largest U.S. city ever to file for bankruptcy, it will strike a hard blow to residents, especially city employees and retirees whose health benefits and pensions helped drive the city toward insolvency. (Wed, 27 Jun 2012 17:48:33 -0700)

Analysis: Bankruptcy no quick fix for weak local governments
(Reuters) - U.S. cities and other local governments stung by sour regional economies and deep housing crises are most at risk of becoming the next Stockton. But they will do all they can to avoid following the California city into federal bankruptcy court. Stockton, just 85 miles east of San Francisco, is on the verge of bankruptcy after its housing boom went bust. Officials of this city of ... (Wed, 27 Jun 2012 19:46:53 -0700)

Abound Solar is latest DOE-backed bankruptcy
Abound Solar announced plans Thursday to file for bankruptcy and suspend operations, becoming the industry's latest government-backed firm to close its doors. (Thu, 28 Jun 2012 14:15:58 -0700)

Abound Solar is latest government-backed bankruptcy
Abound Solar announced plans Thursday to file for bankruptcy and suspend operations, becoming the industry's latest government-backed firm to close its doors. (Thu, 28 Jun 2012 15:35:03 -0700)

Papers Filed in Stockton bankruptcy; gag order may be lifted
The bankruptcy comes on the heels of three-months of state-mandated mediation. An entourage of Wall Street bankers, city attorneys, union representatives and other creditors held private meetings in Sacramento to wrangle over Stockton's fate. (Thu, 28 Jun 2012 18:53:56 -0700)

Stockton is largest US city to seek bankruptcy
Stockton has filed for Chapter 9 protection, making it the largest American city ever to declare bankruptcy. (Thu, 28 Jun 2012 19:11:40 -0700)

Stockton, California files bankruptcy petition
(Reuters) - Stockton, California, became the largest city to file for bankruptcy in U.S. history on Thursday, after years of fiscal mismanagement and a housing market crash left it unable to pay its workers, pensioners and bondholders. The filing, announced by the city of 300,000 people, followed three months of confidential talks between the city and its creditors aimed at averting bankruptcy ... (Thu, 28 Jun 2012 19:25:01 -0700)

Stockton, California files for bankruptcy
SAN FRANCISCO (Reuters) - Stockton, California, became the largest city to file for bankruptcy in U.S. history on Thursday after years of fiscal mismanagement and a housing market crash left it unable to pay its workers, pensioners and bondholders. The filing by the city of 300,000 people followed three months of confidential talks with its creditors aimed at averting bankruptcy. "We are now a ... (Thu, 28 Jun 2012 20:49:25 -0700)

How To Avoid Bankruptcy
Stockton, Calif.'s municipal bankruptcy filing makes it the largest city in U.S. history to go bust. Its failure — and those of a few other cities recently — offer clues for other local governments about how to stay solvent. (Fri, 29 Jun 2012 07:52:56 -0700)

Bankruptcy judge curbs Alabama county's cash use
(Reuters) - The judge in the landmark bankruptcy of Alabama's Jefferson County sided with Wall Street creditors on Friday and sharply limited how the cash-strapped county government can use funds generated by its sewer system. Ruling in a months-long court dispute over the size of payments to owners of about $3.2 billion of sewer-system debt, U.S. Bankruptcy Judge Thomas Bennett said the county ... (Fri, 29 Jun 2012 12:14:54 -0700)

Houghton Mifflin Chapter 11 Sent to Boston: Bankruptcy
What remains of the Houghton Mifflin Harcourt Publishing Co. reorganization was sent yesterday to the U.S. Bankruptcy Court in Boston. (Fri, 29 Jun 2012 12:50:44 -0700)

Judge gives a win to Wall Street in Alabama bankruptcy
(Reuters) - The judge in the landmark bankruptcy of Alabama's Jefferson County sided with Wall Street creditors on Friday and sharply limited how the cash-strapped local government can use funds generated by its sewer system. The ruling, in a months-long court dispute, aggravates a cash crunch for the county that may exhaust its general fund within three months. In the dispute over the size of ... (Fri, 29 Jun 2012 16:17:55 -0700)

Trustee objects to advisers in Dewey bankruptcy
(Reuters) - The U.S. Trustee in the bankruptcy case of Dewey & LeBoeuf objected on Friday to the retention of law firms and public relations advisers that had filed applications to advise the defunct law firm in its bankruptcy proceedings. Hope Davis, who represents the U.S. Justice Department in the bankruptcy, objected to the applications of law firms Proskauer Rose LLP and Keightley & Ashner ... (Fri, 29 Jun 2012 20:38:38 -0700)

Bankruptcy Attorney Corona Searches Still Going Strong on Internet, Bankruptcy Attorneys in Corona, CA are Staying ...
Bankruptcy attorneys Zhou & Chini have been helping residents in Corona and all of Riverside county who are in need of filing for bankruptcy. The law office is offering free consultations for individuals who are in need of financial relief. They announced this month that their recent marketing efforts and completive prices for their services have brought the firm many new clients. The firm has ... (Sat, 30 Jun 2012 02:03:33 -0700)


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