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Home > Bankruptcy News

Bankruptcy News Nov 2012

Bankruptcy - A Donnelley Tradition
Bankruptcy - A Donnelley Tradition (Thu, 01 Nov 2012 07:27:18 -0700)

InCharge Showcases Bankruptcy Courses at Cooperstown Conference
Nonprofit organization will exhibit at Central New York Bankruptcy Bar Association Annual Conference, November 2-3, 2012ORLANDO, Fla., Nov. 1, 2012 /PRNewswire-USNewswire/ -- InCharge® Debt Solutions ("InCharge"), a nonprofit credit counseling agency, will be on hand to showcase its bankruptcy courses at the 17th Annual Bankruptcy Conference of the Central New York Bankruptcy Bar Association ... (Thu, 01 Nov 2012 07:59:00 -0700)

More South Floridians file for bankruptcy
A sharp increase in South Floridians filing for bankruptcy occurred in October after falling the month before, according to records released Thursday by the U.S. Bankruptcy Court in Miami. (Thu, 01 Nov 2012 08:53:02 -0700)

More South Floridians file for bankruptcy
A sharp increase in South Floridians filing for bankruptcy occurred in October after falling the month before, according to records released Thursday by the U.S. Bankruptcy Court in Miami. (Thu, 01 Nov 2012 11:17:38 -0700)

Solyndra Judge’s Approval of Bankruptcy Plan Appealed
The U.S. Internal Revenue Service appealed a bankruptcy judge’s decision to approve Solyndra LLC’s plan to exit court protection. (Thu, 01 Nov 2012 17:50:51 -0700)

Bankruptcy Court Ruling On Prestige Travel May Snarl Travel Plans
Prestige Travel Inc. lost a U.S. Bankruptcy Court bid on Thursday to have certain funds applied to customer hotel stays in the future, potentially leading to an unhappy start to hundreds of vacations. The Las Vegas-based travel agency, one of the largest (Thu, 01 Nov 2012 18:03:46 -0700)

Tax agency appeals Solyndra's bankruptcy exit plan
(Reuters) - The U.S. Internal Revenue Service on Thursday appealed a court decision to approve solar panel maker Solyndra's plan to exit bankruptcy protection. Solyndra, which filed for bankruptcy in September last year despite a $528 million federal loan, won court approval on October 22 to repay its creditors after a judge overruled objections by the U.S. government. U.S. Bankruptcy Judge Mary ... (Thu, 01 Nov 2012 19:26:06 -0700)

Bankruptcy Lease Auction* - GA Keen Realty Advisors Markets DAFFY’S Retail Sites in New York, New Jersey
GA Keen Realty Advisors, a division of Great American Group, Inc. , is marketing several world-class lease opportunities that offer strategic retail locations in New Y (Fri, 02 Nov 2012 06:20:00 -0700)

Hawker CEO opens up about bankruptcy
Nov. 01--ORLANDO, Fla. -- Working through a bankruptcy the size of Hawker Beechcraft's is a difficult and complex process, company CEO Bill Boisture said Wednesday in a sit-down interview at the National Business Aviation Association's annual convention. (Fri, 02 Nov 2012 07:55:12 -0700)

Yavapai Downs: Bankruptcy court approves sale of track to HBPA president
A bankruptcy court on Tuesday approved the sale of Yavapai Downs for $5.5 million to Gary Miller, the president of the state’s Horsemen’s Benevolent and Protective Association. (Fri, 02 Nov 2012 10:55:56 -0700)

Bankruptcy judge approves sale of Vann’s retail stores
A bankruptcy judge on Friday approved the sale of five Vann’s retail stores - including one in Hamilton - to Texas-based McMagic Partners LP. (Fri, 02 Nov 2012 19:08:00 -0700)

Bankruptcy judge approves $4.5M offer for Vann's
A bankruptcy judge has approved the sale of a Missoula, Mont.-based electronic and appliance chain to a Texas company. (Sat, 03 Nov 2012 10:10:20 -0700)

Toni Braxton Reveals Why She Filed For Bankruptcy
Toni Braxton, star of Braxton Family Values on WE, recently addressed the truth about her bankruptcy on her Behind the Music special on VH1. Why did she really have to file for bankruptcy after selling more than 20 million records? It wasn’t because of over-spending, Toni insists. Toni revealed her record contract with Arista and [...] (Sat, 03 Nov 2012 12:37:42 -0700)

Dan Walters: Bankruptcy filings by California cities may rein in pensions
As financially troubled cities suspend their payments to California's pension fund, federal bankruptcy judges may have the final word on the long-assumed inviolability of retirement benefits. (Sun, 04 Nov 2012 20:55:48 -0800)

American Suzuki Files for Bankruptcy and Will Exit Car Business
The American Suzuki Motor Corporation filed for Chapter 11 bankruptcy protection and said it would cease selling automobiles in the United States. (Sun, 04 Nov 2012 21:34:48 -0800)

Dan Walters: Bankruptcy may rein in pensions
As financially troubled cities suspend their payments to California's statewide pension fund, f (Mon, 05 Nov 2012 00:34:27 -0800)

Kodak bankruptcy decision on retiree benefits could come today
A federal bankruptcy court judge could decide as soon as Monday afternoon about Kodak's plan to eliminate an array of post-retirement benefits. (Mon, 05 Nov 2012 07:58:04 -0800)

10 years after bankruptcy, police charge Hickman Equipment managers
Four senior managers at the former Hickman Equipment company have been charged with fraud, a decade after the former John Deere dealership went bankrupt. (Mon, 05 Nov 2012 08:26:09 -0800)

Bankruptcy Court To Decide On Kodak's Retiree Benefits Cuts
Monday afternoon is a big day in court for the company. (Mon, 05 Nov 2012 10:08:58 -0800)

Storm damage keeps Manhattan bankruptcy court shuttered
NEW YORK (Reuters) - The Bankruptcy Court in lower Manhattan, which sits in a historic former U.S. custom house, will be closed indefinitely in the wake of flooding and electrical outages from Hurricane Sandy, the court said on Monday. Much of downtown Manhattan has returned to a semblance of normalcy after flooding and power failures following the storm, but there is no timetable for re-opening ... (Mon, 05 Nov 2012 11:57:22 -0800)

Bankruptcy Judges Scramble For Courtrooms Post-Sandy
New York City is crawling back to normal after last week's crippling storm, but the U.S. Bankruptcy Court building in Lower Manhattan remains paralyzed, forcing a scramble by judges and lawyers to hold key hearings wherever they can find a courtroom. (Mon, 05 Nov 2012 13:36:41 -0800)

American Suzuki to file for bankruptcy protection
American Suzuki Motor Corp. says it will file for Chapter 11 bankruptcy protection and cease selling automobiles in the U.S. as part of a plan to restructure its business. (Mon, 05 Nov 2012 16:47:07 -0800)

Bankruptcy for U.S. Suzuki Unit
The American Suzuki Motor Corporation filed for Chapter 11 bankruptcy protection and said it would cease selling automobiles in the United States. (Mon, 05 Nov 2012 19:29:34 -0800)

Smart to try loan modification in bankruptcy?
Dear Bankruptcy Adviser,My client recently filed bankruptcy and has since been offered a loan modification from his lender. As I understand, the mortgage company does not have a legal right to pursue the ... (Tue, 06 Nov 2012 00:01:09 -0800)

American Suzuki wants bankruptcy protection
Says it intends to stop selling cars in U.S. but will keep selling motorcycles, ATVs and marine outboard engines here (Tue, 06 Nov 2012 03:02:01 -0800)

American Suzuki files for bankruptcy protection
American Suzuki Motor Corp. on Monday filed for Chapter 11 bankruptcy protection and said it will cease selling automobiles in the U.S. as part of a plan to restructure its business. (Tue, 06 Nov 2012 04:13:01 -0800)

Alabama county OKs fee hike seen as step toward bankruptcy exit
BIRMINGHAM, Alabama (Reuters) - Alabama's Jefferson County on Tuesday approved a sewer-system rate hike of about $2 a month for most customers that the county's top official described as a key step toward emerging from its $4.23 billion bankruptcy. The rate hike will be the first since 2008 and equals a rise of about 5.2 percent over five years, based on the county's average monthly sewer bill ... (Tue, 06 Nov 2012 12:03:22 -0800)

Bankruptcy filings decline 10% in year
Filings in U.S. Bankruptcy Court in Toledo fell 10 percent in October, continuing the two-year trend of decreasing cases in the 21-county northwest Ohio territory covered by the court. (Tue, 06 Nov 2012 21:18:33 -0800)

Fallen Solyndra Won Bankruptcy Battle But Faces Tax War
This failed alternative energy company was gilded by President Obama?s glow. But with $527 million from taxpayers it filed for bankruptcy just two years after being handed a loan guarantee from the Department of Energy. Like taxpayers, most creditors---including the IRS---are out of luck. (Tue, 06 Nov 2012 23:40:18 -0800)

Clarification: American Suzuki-Bankruptcy story
In a story Nov. 5 about American Suzuki Motor Corp. filing for Chapter 11 bankruptcy protection, The Associated Press reported that American Suzuki intends to honor all buyback agreements. The AP should have clarified that the automaker will honor all buyback agreements already in place with financial institutions. (Wed, 07 Nov 2012 12:10:11 -0800)

Arcapita secures sharia-compliant bankruptcy loan
NEW YORK (Reuters) - Bahrain-based Arcapita Bank gained court approval on Wednesday for a $125 million bankruptcy loan from Fortress Investment Group , believed to be the first such loan consistent with sharia, Islamic law. The loan, approved by Judge Sean Lane in U.S. Bankruptcy Court in White Plains, New York, will fund Arcapita as it tries to restructure debt after filing for bankruptcy in ... (Wed, 07 Nov 2012 14:19:45 -0800)

Bankruptcy filings drop to lowest levels since 2008
Experts point to a variety of factors to account for the improvement, including tougher lending standards. (Wed, 07 Nov 2012 19:38:50 -0800)

Couple released from bankruptcy
A County Londonderry husband and wife, whose multi-million pound property business collapsed, are released from bankruptcy. (Thu, 08 Nov 2012 07:34:38 -0800)

Rev. Schuller takes stand in Crystal Cathedral bankruptcy case
The Rev. Robert H. Schuller, founder of Crystal Cathedral, took the witness stand Wednesday in Bankruptcy Court and testified that he never gave up ownership of written materials and other creative works. (Thu, 08 Nov 2012 09:14:55 -0800)

Judge weighs bid procedures in A123 bankruptcy
Wilmington, Del. — A judge ruled Thursday that bankruptcy proceedings for A123 Systems can move forward after the advanced battery maker reduced the fee that would have to be paid to the lead bidder for its assets should the deal fall apart. (Thu, 08 Nov 2012 11:53:34 -0800)

Judge approves bid procedures in A123 bankruptcy
A judge ruled Thursday that bankruptcy proceedings for A123 Systems can move forward after the advanced battery maker reduced the fee that would have to be paid to the lead bidder for its assets should the deal fall apart. (Thu, 08 Nov 2012 12:39:59 -0800)

Televangelist testifies in Calif. bankruptcy case
The Rev. Robert H. Schuller, who was among the best-known faces of America's televangelist heyday, has asserted in a federal bankruptcy court that he never gave up ownership of his books and other teachings even though the ministry he founded used them freely, including on the Internet. (Fri, 09 Nov 2012 06:46:59 -0800)

Bankruptcy Auction for MF Global Inc. Fine Art and Memorabilia Crosses the Block on Proxibid
Proxibid , the world’s largest, most trusted online marketplace for buying and selling specialized assets, has been selected by HYPERAMS, LLC as the exclusive provider of online bidding for the auction of artwork and branded materials from MF Global Inc. (Fri, 09 Nov 2012 08:10:00 -0800)

Kodak did not mislead investors before bankruptcy: court
NEW YORK (Reuters) - Eastman Kodak Co executives did not mislead investors about the photography pioneer's deteriorating financial health in the year prior to its bankruptcy, a Manhattan federal judge ruled. U.S. District Judge Harold Baer on Thursday dismissed a shareholder lawsuit against Chief Executive Antonio Perez and three former Kodak executives. The Rochester, New York-based company was ... (Fri, 09 Nov 2012 11:43:16 -0800)

Metex Manufacturing Files for Bankruptcy for Second Time
Metex Manufacturing Corp., formerly known as Kentile Floors Inc., filed for bankruptcy protection for the second time since 1992 to cope with asbestos product- liability claims. (Fri, 09 Nov 2012 12:07:55 -0800)

Omtron USA LLC Files for Bankruptcy Protection in Delaware
The Siler City, North Carolina-based company listed assets and debt of $10 million to $50 million each in Chapter 11 documents filed today in U.S. Bankruptcy Court in Wilmington, Delaware. (Fri, 09 Nov 2012 15:35:44 -0800)

Kodak Said to Arrange Financing for Bankruptcy Emergence
Eastman Kodak Co. (EKDKQ) , the bankrupt photography pioneer, arranged $793 million in financing from some creditors to exit bankruptcy as a commercial-printing company, said a person familiar with the negotiations. (Mon, 12 Nov 2012 08:35:44 -0800)

Kodak in financing deal to leave bankruptcy -source
Eastman Kodak Co has reached a financing deal with bondholders that could take the one-time photography giant out of bankruptcy, a person close to the matter said Monday. The deal, which needs bankruptcy ... (Mon, 12 Nov 2012 10:16:24 -0800)

California city asks voters how to spend after bankruptcy
A California city that recently emerged from bankruptcy is taking a new approach to budgeting -- this time, by asking voters how it should spend the taxpayers' money. (Mon, 12 Nov 2012 12:53:11 -0800)

Kodak in financing deal to leave bankruptcy
NEW YORK (Reuters) - Eastman Kodak Co said on Monday it has reached a $793 million financing deal with bondholders that could take the one-time photography giant out of bankruptcy. The deal, which still needs bankruptcy court approval, will come in the form of new loans from Centerbridge Partners, GSO Capital Partners, UBS and JPMorgan Chase & Co , Kodak said in a statement. The financing is ... (Mon, 12 Nov 2012 15:16:20 -0800)

Manhattan bankruptcy court to open on Tuesday
NEW YORK (Reuters) - Federal bankruptcy court in Manhattan will reopen on Tuesday after being closed for more than two weeks due to flooding and other damage caused by Hurricane Sandy, according to its website. The court, which had been without steam, Internet and phone connection, is "now operational," according to an announcement on the site on Monday. For large companies restructuring under ... (Mon, 12 Nov 2012 16:29:39 -0800)

Bankruptcy will allow trustee to sell mom's home
Dear Bankruptcy Adviser,I've been consulting with bankruptcy lawyers about my financial situation since my mom passed away. She did not have a will. The estate hasn't gone through probate yet, but I don't ... (Tue, 13 Nov 2012 00:00:21 -0800)

Bankruptcy will allow trustee to sell mom's home
Dear Bankruptcy Adviser,I've been consulting with bankruptcy lawyers about my financial situation since my mom passed away. She did not have a will. The estate hasn't gone through probate yet, but I don't ... (Tue, 13 Nov 2012 02:00:00 -0800)

AMF Bowling Seeks Bankruptcy Protection for Second Time
AMF Bowling Worldwide Inc., the world’s largest bowling-alley operator, filed for bankruptcy for the second time in 11 years with a plan it says will “significantly” cut debt and strengthen its balance sheet. (Tue, 13 Nov 2012 09:26:41 -0800)

Kodak Arranges $793 Million Financing for Bankruptcy Exit
Eastman Kodak Co., the bankrupt photography pioneer, said it arranged with some creditors for $793 million in financing to exit bankruptcy as a commercial- printing company by mid-2013. (Tue, 13 Nov 2012 09:27:30 -0800)

AMF Bowling Worldwide, Inc. Files for Bankruptcy Protection, Ronald Page, PLC Available to Represent Creditors
AMF Bowling Worldwide, Inc. filed for protection under chapter 11 of the Bankruptcy Code as the bowling-alley operator struggled to reorganize its debt. AMF Bowling's bankruptcy petition indicated that ... (Tue, 13 Nov 2012 10:28:34 -0800)

AMF Bowling files for bankruptcy again
Nov 13 (Reuters) - AMF Bowling Worldwide Inc, the world's largest bowling alley operator, on Tuesday filed for bankruptcy protection for the second time in 12 years, saying recent economic weakness has cost it business and left it with an unmanageable debt burden. The Mechanicsville, Virginia-based company said it has agreed on a plan to significantly reduce its debt and turn over control to its ... (Tue, 13 Nov 2012 10:34:55 -0800)

The Bankruptcy Files: I-Banks, Consulting Firms, Bowling, and Poultry
Federal bankruptcy filings have fallen to their lowest levels since 2008, according to newly released data. The number of business bankruptcies for the 12-month period ending September 30, 2012, plummeted 16 percent when measured against the same period last year -- the third straight year of decline. Then again, the looming fiscal cliff could set off an avalanche of new business bankruptcy cases. (Tue, 13 Nov 2012 21:38:57 -0800)

The Bankruptcy Files: I-Banks, Consulting Firms, Bowling, and Poultry
Federal bankruptcy filings have fallen to their lowest levels since 2008, according to newly released data. The number of business bankruptcies for the 12-month period ending September 30, 2012, plummeted 16 percent when measured against the same period last year -- the third straight year of decline. Then again, the looming fiscal cliff could set off an avalanche of new business bankruptcy cases. (Wed, 14 Nov 2012 05:38:57 GMT)

Overseas Shipholding seeks bankruptcy protection
Short on cash, the Overseas Shipholding Group is filed for Chapter 11 bankruptcy protection Wednesday. (Wed, 14 Nov 2012 07:36:13 -0800)

Kodak keeps control of bankruptcy through February 28
NEW YORK (Reuters) - Eastman Kodak Co won court permission on Wednesday to retain exclusive control of its bankruptcy case through February 28 as it tries to execute a $793 million financing offer from a group of bondholders. Judge Alan Gropper approved the extension at a hearing in a U.S. Bankruptcy Court in Manhattan, allowing Kodak to move forward with its plan without creditors pushing ... (Wed, 14 Nov 2012 10:14:36 -0800)

AMF Bowling Seeks Bankruptcy Protection
Financial restructuring proposed. (Wed, 14 Nov 2012 10:41:36 -0800)

Kodak keeps control of bankruptcy through Feb. 28
Eastman Kodak Co. won court permission on Wednesday to retain exclusive control of its bankruptcy case through February 28 as it tries to execute a $793 million financing offer from a group of bondholders. (Wed, 14 Nov 2012 11:05:43 -0800)

Weak rates tip Overseas Shipholding into bankruptcy
(Reuters) - Debt-laden Overseas Shipholding Group Inc , the world's No. 2 independent tanker operator by fleet size, filed for bankruptcy protection on Wednesday as questions about its financial statements shut it out of credit markets. The company has also suffered as the United States and other industrialized economies shift toward domestic oil supplies and away from imports, sending rates for ... (Wed, 14 Nov 2012 21:50:11 GMT)

Petters bankruptcy case trustee sues BMO Harris
The bankruptcy trustee recovering money for victims of the $3.65 billion Ponzi scheme operated by now-imprisoned Minnesota businessman Tom Petters filed a lawsuit Wednesday that accuses a bank of aiding the fraud by ignoring "astronomical" deposits. (Wed, 14 Nov 2012 22:16:38 GMT)

Bankruptcy judge approves $90 million sale of Solyndra's Fremont factory to Seagate
The purchase price is 70 percent below the $300 million cost of construction of the building, whose development was underpinned through a $535 million loan guarantee from Obama Administration's Energy Department. (Thu, 15 Nov 2012 18:20:46 GMT)

Edison Mission Energy misses payment, faces likely bankruptcy
NEW YORK (Reuters) - Edison Mission Energy said on Thursday it missed a $97 million interest payment on its unsecured bonds and could file for bankruptcy as soon as next month. Edison Mission, the unregulated power generation business of Edison International , made the announcement in a filing with the U.S. Securities & Exchange Commission. It said the interest payment deadline carries a grace ... (Thu, 15 Nov 2012 23:44:02 GMT)

BANKRUPTCY WEEK AHEAD:Hostess to start liquidation
Hostess Brands Inc. could kick off its bankruptcy liquidation as soon as Monday. The maker of Twinkies, Wonder Bread and other iconic baked goods Friday announced its intent to liquidate its 82-year-old business after failing to halt a worker strike by its second-largest union. In a motion filed Friday in Manhattan bankruptcy court, Hostess requested permission to wind down its operations and ... (Fri, 16 Nov 2012 09:52:13 -0800)

Tribune Co gets FCC approval, nears bankruptcy exit
(Reuters) - Tribune Co, the owner of the Chicago Tribune, Los Angeles Times and 23 television stations, said on Friday it received regulatory approval needed to end its nearly four-year stay in bankruptcy. Tribune said it received approval from the Federal Communications Commission to transfer its broadcast licenses to the new owners who will take over the company when it emerges from bankruptcy ... (Fri, 16 Nov 2012 13:25:50 -0800)

Battery maker A123 got U.S. funds as it sought bankruptcy
WASHINGTON (Reuters) - The Obama administration provided struggling battery maker A123 Systems Inc with nearly $1 million on the day it filed for bankruptcy, the company told lawmakers investigating its government grant. The company, which makes lithium ion batteries for electric cars, filed for Chapter 11 bankruptcy protection last month after a rescue deal with Chinese auto parts supplier ... (Fri, 16 Nov 2012 13:37:13 -0800)

Tribune May Get Last Approval Needed to Exit Bankruptcy
Tribune Co. could get the final approval it needs to emerge from almost four years of bankruptcy today as the Federal Communications Commission allows the transfer of broadcast licenses to new owners. (Fri, 16 Nov 2012 14:45:52 GMT)

A123 Got $1 Million U.S. Grant Day It Filed Bankruptcy
A123 Systems Inc. (AONEQ) , the electric-car battery producer, received a U.S. Energy Department grant payment of almost $1 million on the same day it filed for bankruptcy last month. (Fri, 16 Nov 2012 14:50:08 -0800)

BANKRUPTCY WEEK AHEAD: Hostess to Launch Liquidation
Hostess Brands Inc. could kick off its bankruptcy liquidation as soon as Monday. (Fri, 16 Nov 2012 17:15:58 GMT)

BANKRUPTCY WEEK AHEAD:Hostess to start liquidation
Hostess Brands Inc. could kick off its bankruptcy liquidation as soon as Monday. The maker of Twinkies, Wonder Bread and other iconic baked goods Friday announced its intent to liquidate its 82-year-old business after failing to halt a worker strike by its second-largest union. In a motion filed Friday in Manhattan bankruptcy court, Hostess requested permission to wind down its operations and ... (Fri, 16 Nov 2012 17:52:13 GMT)

Twinkies will likely live on post-bankruptcy
Iconic American treat probably won't disappear as Hostess goes out of business; Company could sell recipe and names (Sun, 18 Nov 2012 16:37:54 -0800)

As Hostess seeking bankruptcy court approval to sell assets, Twinkies are likely to live on
DETROIT - The tasty cream-filled golden spongecakes known as Twinkies are likely to survive, even though their maker will be sold in bankruptcy court. (Mon, 19 Nov 2012 06:00:33 -0800)

US Airways Pilots Want Seat at Table in AMR Bankruptcy
US Airways/America West Airlines A320-231 at San Diego International Airport in San Diego, California (Photo credit: Wikipedia) US Airways pilots have filed a motion in the American Airlines bankruptcy case, seeking to be involved in the process that could lead to a merger that would shape their careers. The motion filed by [...] (Mon, 19 Nov 2012 06:30:18 -0800)

Hostess in bankruptcy court, Twinkies likely to survive
The tasty cream-filled golden spongecakes are likely to survive, even though their maker will be sold in bankruptcy court. (Mon, 19 Nov 2012 07:28:26 -0800)

Twinkies-maker headed to bankruptcy court today
As Twinkies maker Hostess heads to bankruptcy court today at 2 p.m. ET to ask the judge for official permission to liquidate, what's next for the iconic brand? (Mon, 19 Nov 2012 08:17:13 -0800)

News Summary: SAS avoids bankruptcy
DODGING A BULLET: Scandinavia's flagship airline SAS averted imminent bankruptcy after all eight unions signed new collective agreements that will see jobs, salaries and pensions cut. (Mon, 19 Nov 2012 08:57:17 -0800)

SAS avoids bankruptcy after unions approve plan
Scandinavia's flagship airline SAS averted imminent bankruptcy on Monday after all eight unions signed new collective agreements that will see jobs, salaries and pensions cut in the hope of restoring the company's competitiveness and profitability. (Mon, 19 Nov 2012 09:43:50 -0800)

Hostess: Twinkies likely to survive bankruptcy sale
The tasty cream-filled golden spongecakes are likely to survive, even though their maker will be sold in bankruptcy court. Hostess Brands Inc., baker of Wonder Bread as well as Twinkies, Ding Dongs and Ho Ho's, will be in a New York bankruptcy courtroom today to start the process of selling itself. (Mon, 19 Nov 2012 10:45:19 -0800)

Bankruptcy court judge says Hostess should try mediation with 2nd largest union
WHITE PLAINS, N.Y. - Twinkies won't die that easily after all. (Mon, 19 Nov 2012 13:16:09 -0800)

Mammoth Lakes Bankruptcy Case Ends After Accord in Suit
Mammoth Lakes, the California mountain resort town, won dismissal of its bankruptcy case after settling the $43 million development lawsuit that forced the company to seek court protection from its creditors. (Mon, 19 Nov 2012 13:20:21 -0800)

Chief bankruptcy judge selected in Eastern District
NORFOLK U.S. Bankruptcy Judge Stephen C. St. John has been named the chief judge for the Eastern District of Virginia's bankruptcy courts. St. John, who has served as a bankruptcy judge since 1995, is the first chief bankruptcy judge to sit in Norfolk. The district also has bankruptcy courts in Newport News, Richmond and Alexandria. (Mon, 19 Nov 2012 19:29:53 -0800)

Local couple declares bankruptcy 7 times combined, sticks creditors with bills
ST. PETERS, Mo. (KMOV.com) – Everyone has bills they hate to pay, but every year hundreds of thousands of people get their bills wiped out by filing bankruptcy. For some, bankruptcy is the only option, especially in cases with massive medical debts. But what about people who rack up big bills on everything from fancy department stores to jewelry. A St. Peters woman says her former tenants used ... (Mon, 19 Nov 2012 20:44:30 -0800)

Bankruptcy judge refuses to allow faster sale of Hawker jets
A bankruptcy judge on Monday rejected Hawker Beechcraft’s request for permission to expedite the sale of its remaining inventory of discontinued Hawker 4000 business jets for a substantial discount after a group of Hawker 4000 owners protested. (Mon, 19 Nov 2012 21:31:38 -0800)

Protect home by filing Chapter 7?
Dear Bankruptcy Adviser,My employer cut my hours in half. This has caused my bills to become late or unpaid. I am trying to reorganize my expenses until I find another job. I can afford my mortgage but ... (Tue, 20 Nov 2012 00:00:29 -0800)

Salt restaurant files for bankruptcy
The Central West End restaurant remains open.  (Tue, 20 Nov 2012 07:54:00 -0800)

Bankruptcy judge puts 2 cases on hold, stalls on 3rd
STOCKTON - Former Fire Chief Ron Hittle and a 26-year-old man permanently disabled in a motorcycle accident will have to wait for Stockton to button up its bankruptcy case before taking the city to trial, a judge ruled Tuesday. (Wed, 21 Nov 2012 00:22:29 -0800)

Patriot bankruptcy prompts reclamation worries
The pending bankruptcy of Patriot Coal Co. poses major ramifications for Henderson County beyond the obvious loss of jobs and coal severance tax revenue. (Wed, 21 Nov 2012 01:07:31 -0800)

S'pore opposition leader freed from bankruptcy
Prominent Singapore opposition leader Chee Soon Juan has been discharged from bankruptcy, the government said Wednesday, after an unprecedented concession by two former prime ministers to whom he owed about $408,000. (Wed, 21 Nov 2012 02:04:59 -0800)

Bitter end for Hostess OK’d in bankruptcy court
Mediation efforts prove futile as Twinkies maker gets the approval to proceed with liquidation under U.S. bankruptcy law, which will wipe out 18,500 jobs. (Wed, 21 Nov 2012 06:34:39 -0800)

Singapore opposition leader's bankruptcy annulled
Prominent Singapore opposition leader Chee Soon Juan has had his bankruptcy annulled, the government said Wednesday, after an unprecedented concession by two former prime ministers to whom he owed about $408,000. (Wed, 21 Nov 2012 06:43:39 -0800)

Walter Investment Management Corp. Announces Bankruptcy Court Approval of ResCap Bid
TAMPA, Fla., Nov. 21, 2012 /PRNewswire/ -- Walter Investment Management Corp. (NYSE MKT: WAC) today announced that its joint bid with Ocwen Loan Servicing, LLC for the mortgage servicing and origination ... (Wed, 21 Nov 2012 07:48:00 -0800)

Bankruptcy court OKs $3 billion ResCap buyout
A bankruptcy court has approved a joint $3 billion buyout bid from Ocwen Loan Servicing and Walter Investment Management for Residential Capital. (Wed, 21 Nov 2012 08:12:41 -0800)

Bankruptcy court approves $3 billion ResCap buyout, $1.5 billion sale of its loan portfolio
NEW YORK, N.Y. - A bankruptcy court has approved a joint $3 billion buyout bid from Ocwen Loan Servicing and Walter Investment Management for Residential Capital. (Wed, 21 Nov 2012 08:31:54 -0800)

Bankruptcy judge approves Hostess liquidation
It's official. Twinkies are toast, at least as far as being a Hostess product is concerned. Hostess CEO says the company is laying off 15,000 employees immediately. (Wed, 21 Nov 2012 10:43:24 -0800)

Hostess Bankruptcy Judge Approves Motion for Wind-Down
Hostess Brands Inc. won interim approval from a bankruptcy judge to shut down and take steps to sell the Twinkie maker’s assets after mediation with its bakers’ union failed to resolve a contract dispute, leaving more than 18,000 jobs at risk. (Wed, 21 Nov 2012 12:45:52 -0800)

Officials say dismiss bankruptcy or sell Hotel Prince Charles
Fayetteville officials and a bankruptcy administrator say the troubled Hotel Prince Charles should be sold or its bankruptcy dismissed, according to court documents. (Thu, 22 Nov 2012 10:30:15 -0800)

Bankruptcy Continues to Threaten Thousands in Minnesota
Bankruptcy claims remain alarmingly high. Local expert attorney, Stephen Behm of Behm Law Group, Ltd., offers guidance to minimize disruption.Mankato, MN (PRWEB) November 23, 2012 Minnesota bankruptcy claims reached an all-time high in 2010, with over 22,000 claims filed (source: United States Bankruptcy Court, District of Minnesota). Although there has been a slight decrease in the past year ... (Fri, 23 Nov 2012 00:22:49 -0800)

Officials say dismiss bankruptcy or sell Hotel Prince Charles
Fayetteville officials and a bankruptcy administrator say the troubled Hotel Prince Charles should be sold or its bankruptcy dismissed, according to court documents. (Fri, 23 Nov 2012 05:30:25 -0800)

Nebraska bankruptcy filings decline for 2nd year
The declines follow years of increases, but bankruptcy experts say the drop is not necessarily a sign of economic recovery. (Fri, 23 Nov 2012 10:00:47 -0800)

Brazil utility Rede Energia files for bankruptcy protection
RIO DE JANEIRO (Reuters) - Brazilian electricity distribution utility group Rede Energia SA on Friday filed for bankruptcy protection with a court in Sao Paulo, the company said in a filing to securities ... (Fri, 23 Nov 2012 15:35:27 -0800)

Backlog of bankruptcy cases persists despite drop in filings
By Jeff Harrington, Times Staff Writer Friday, November 23, 2012 TAMPA — Eli Munoz-Soto and Marcial Solorzano held ownership stakes in more than 40 homes that got tangled up in Florida's epic housing meltdown. For nearly three years, their cases crawled through bankruptcy court, as they sought modified mortgages with lower payments to avoid foreclosure. Finally, in a hearing this month, their ... (Fri, 23 Nov 2012 16:31:43 -0800)

Bankruptcy trial gets closer for former owner of Erie's Telatron
A bankruptcy judge has rejected a settlement that would have ended the claims against the former owners of a bankrupt Erie telemarketing company, moving the case closer to trial. (Fri, 23 Nov 2012 22:57:37 -0800)

Bankruptcy fights will put pressure on Prop. 13 reform
The supermajority of Democrats that is shaping up the state Legislature will have the power to do more than just put initiatives before the voters, they will have a veto-proof majority to make other changes. At a post-election panel sponsored by Capitol Weekly and the University of California, Lou Paulson, president of the California Professional Firefighters, was asked, “what’s on the unions ... (Sun, 25 Nov 2012 09:34:42 -0800)

Bankruptcy trial gets closer for former owner of Erie's Telatron
The former owners of a bankrupt Erie telemarketing business are getting closer to a trial in U.S. Bankruptcy Court in Erie over claims that they engaged in a multimillion-dollar fraud while they ran the company. (Sun, 25 Nov 2012 21:14:17 -0800)

ResCap Bankruptcy Examiner Says Report to Take Longer
A report on Residential Capital LLC’s pre-bankruptcy transactions with parent company Ally Financial Inc. (ALLY) and others will take about two months longer than planned, the retired judge conducting the probe said. (Mon, 26 Nov 2012 12:05:08 -0800)

A123 bankruptcy financing gets final approval
A Delaware judge is giving final approval for Chinese auto-parts maker Wangxiang Group to provide $50 million in bankruptcy financing for battery maker A123 Systems. (Mon, 26 Nov 2012 13:11:55 -0800)

Making sense of bankruptcy
Deciding whether to file can depend on both the amount you owe and your need to avoid collectors. (Mon, 26 Nov 2012 16:20:50 -0800)

Greek Bankruptcy Averted for Now
Debt relief deal brings measure of relief to Greece but country still faces many hurdles (Tue, 27 Nov 2012 03:34:45 -0800)

Bankruptcy judge shakes up power dynamics in Pinnacle pilot talks
Pinnacle Airlines' union pilots, including hundreds based in Minnesota, have gained leverage at the bargaining table from an unlikely source -- a U.S. bankruptcy judge in New York. Bankruptcy court has become the venue of choice for airlines to slash their labor costs. It's been used by Delta, United and the former Northwest to extract pay cuts and work rule changes. But U.S. Bankruptcy Judge ... (Tue, 27 Nov 2012 07:21:47 -0800)

Queens Bankruptcy Attorney Bruce Feinstein, Esq. Waives Bankruptcy Filing Fee Until New Year
The Law Offices of Bruce Feinstein, Esq., with headquarters in Queens, NY, are offering people a fresh start by waiving the $306 court filing fee for bankruptcy if they file between now and December 31, 2012.Queens, NY (PRWEB) November 27, 2012 Queens bankruptcy attorney Bruce Feinstein, Esq. is offering people struggling with debt even more incentive to get on the path to financial stability ... (Tue, 27 Nov 2012 10:02:26 -0800)

Vermont storyteller faces involuntary bankruptcy fight over movie
A federal bankruptcy court judge will preside over an immediate trial this afternoon to determine whether Addison storyteller Mac Parker should relinquish control of the unfinished film 'Birth of Innocence' to three creditors. (Tue, 27 Nov 2012 10:48:06 -0800)

Patriot Coal bankruptcy moved to court in Missouri
NEW YORK (Reuters) - A bankruptcy judge in New York on Tuesday transferred Patriot Coal's bankruptcy case from Manhattan court to the Eastern District of Missouri after union workers and bankruptcy regulators lobbied for a transfer. Judge Shelley Chapman announced the decision in a written order, saying the company's headquarters are in St. Louis, Missouri. Patriot filed for bankruptcy in July ... (Tue, 27 Nov 2012 12:16:36 -0800)

Patriot Coal bankruptcy case moved to St. Louis
Patriot sought to have the case heard in New York (Tue, 27 Nov 2012 12:49:00 -0800)

Patriot Coal bankruptcy moved to court in Missouri
NEW YORK (Reuters) - Patriot Coal on Tuesday lost a bid to keep its bankruptcy case in New York, after the United Mine Workers of America argued that the proceedings should be transferred to a venue closer to the company's operations. U.S. Bankruptcy Judge Shelley Chapman in Manhattan moved the case to St. Louis, Missouri, where the company is based. As part of the bankruptcy, Patriot is ... (Tue, 27 Nov 2012 14:15:29 -0800)

Martino says bankruptcy settlement would cost him $1.9 million
Radio talk-show host Tom Martino said he's likely to shell out another $1.9 million to end his personal- bankruptcy case under an agreement with the trustee appointed to oversee its liquidation. (Tue, 27 Nov 2012 23:20:22 -0800)

Patriot bankruptcy case now in St. Louis
The bankruptcy case of Patriot Coal Corp. has been transferred from Manhattan to St. Louis after union workers and others asked that it be moved from the nation's financial center. (Wed, 28 Nov 2012 01:07:03 -0800)

Harrisburg, Pennsylvania may soon renew bankruptcy threat as ban ends
Harrisburg, Pennsylvania (Reuters) - Pennsylvania's capital city Harrisburg, neck-deep in more than $340 million debt, is on the verge of getting a powerful negotiating tool with creditors: the threat of bankruptcy. A state ban that prevented Harrisburg from filing for municipal bankruptcy protection is set to expire after November 30. A year has passed since Harrisburg first tried filing for ... (Wed, 28 Nov 2012 06:15:37 -0800)

Bankruptcy threat back on the table in Pennsylvania city as filing ban ends
A state ban that prevented Harrisburg from filing for municipal bankruptcy protection is set to expire after Nov. 30. The city is neck-deep in more than US$340-million debt (Wed, 28 Nov 2012 10:11:06 -0800)

Vitro Loses Appeals Court Bid on Mexican Bankruptcy Plan
Vitro SAB (VITROA) , the Mexican glassmaker that has been fighting Elliott Management Corp. and other creditors over its restructuring, lost an appeals court bid to enforce its bankruptcy plan in the U.S. (Wed, 28 Nov 2012 10:50:17 -0800)

Bankruptcy could return to the table in Harrisburg
A Pennsylvania state law barring its debt-ridden capital city from seeking federal bankruptcy protection is expiring and that prospect could emerge again in talks with creditors. (Wed, 28 Nov 2012 11:01:06 -0800)

Bankruptcy unattractive option for Detroit
The city appears to be careening closer to bankruptcy as political and legal battles continue to stall fiscal reforms required by the state for the release of millions in critical bond funding. (Thu, 29 Nov 2012 02:32:46 -0800)

Detroit seen as bankruptcy-bound
DETROIT, Nov. 29 (UPI) -- The city of Detroit is inching closer to bankruptcy by not following state recommendations, Michigan Gov. Rick Snyder said Thursday. (Thu, 29 Nov 2012 12:34:11 -0800)

Lehman Trustee, German Affiliate Settle $1.35 Billion Bankruptcy Fight
The trustee unwinding Lehman Brothers Inc. has reached a deal with the failed investment bank's German affiliate to cut more than a billion dollars in claims by more than half. (Thu, 29 Nov 2012 13:47:57 -0800)

Harrisburg can use bankruptcy as 'nuclear weapon'
The option for Harrisburg to file for bankruptcy will be on the table starting Friday, because a state-imposed ban will be lifted. (Fri, 30 Nov 2012 06:55:26 -0800)

San Bernardino expects 'death' if bankruptcy protection lost
SAN BERNARDINO - In a city where nearly every important decision divides officials into two camps, one goal has the passionate support of nearly every policy-maker: Get the court to approve bankruptcy protection. (Fri, 30 Nov 2012 09:34:39 -0800)

AMR wants more time to file bankruptcy plan
American Airlines parent AMR Corp. and its creditors want more time to complete a bankruptcy-restructuring plan.AMR and a committee representing unsecured creditors filed a motion Friday to extend the ... (Fri, 30 Nov 2012 10:19:26 -0800)

AMR wants keep control over bankruptcy through March 11
NEW YORK (Reuters) - American Airlines' bankrupt parent has asked a judge to extend by six weeks, through March 11, the period in which it has the exclusive right to propose a plan to exit bankruptcy. The request, made jointly with its creditors' committee, was filed on Friday in U.S. Bankruptcy Court in Manhattan. The current exclusive window is set to end on January 28. AMR Corp filed for ... (Fri, 30 Nov 2012 10:41:31 -0800)

AMR seeks to keep control over bankruptcy through March 11
American Airlines' bankrupt parent has asked a judge to extend by six weeks, through March 11, the period in which it has the exclusive right to propose a plan to exit bankruptcy. (Fri, 30 Nov 2012 11:39:54 -0800)

AMR wants more time to file bankruptcy plan
American Airlines parent AMR Corp. and its creditors want more time to complete a bankruptcy-restructuring plan. (Fri, 30 Nov 2012 14:43:11 -0800)

San Bernardino court filing argues it's eligible for bankruptcy
Despite its filing for bankruptcy, San Bernardino is making progress toward a workable budget and has met other requirements for bankruptcy protection, so the court should set aside creditors' objections, the city's attorneys argue in a response filed Friday with bankruptcy court. PDFs: San Bernardino's court filing | Supporting budget documents Catch up: San Bernardino (Fri, 30 Nov 2012 15:01:53 -0800)

San Bernardino court filing argues it's eligible for bankruptcy
Despite its filing for bankruptcy, San Bernardino is making progress toward a workable budget and has met other requirements for bankruptcy protection, so the court should set aside creditors' objections, the city's attorneys argue in a response filed Friday with bankruptcy court. PDFs: San Bernardino's court filing | Supporting budget documents Catch up: San Bernardino (Fri, 30 Nov 2012 19:49:38 -0800)


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