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Home > Bankruptcy News

Bankruptcy News Oct 2014

Apple supplier GT Advanced shocks with bankruptcy filing
By Swetha Gopinath (Reuters) - GT Advanced Technologies Inc, Apple Inc's partner in a sapphire glass plant in Arizona, filed for bankruptcy on Monday in a stunning turn of events for a company whose fortunes looked bright only a few months ago. The stock fell more than 90 percent to 75 cents, wiping out nearly all of its $1.5 billion market worth. GT was worth more than $2.8 billion in early ... (Mon, 06 Oct 2014 11:32:19 -0700)

Spire bankruptcy nears end, new investor emerges
A bankruptcy reorganization plan for the company behind the Chicago Spire was confirmed in federal court Tuesday, as a new potential investment partner emerged in developer Garrett Kelleher’s quest to complete the famously unfinished project. (Tue, 07 Oct 2014 09:42:42 -0700)

The Apple Supplier That Declared Bankruptcy Yesterday Has More Than Doubled Today
Shares of GT Advanced, the Apple supplier that... (Tue, 07 Oct 2014 10:08:00 -0700)

Spire bankruptcy nears end, new investor emerges
A bankruptcy reorganization plan for the company behind the Chicago Spire was confirmed in federal court Tuesday, as a new potential investment partner emerged in developer Garrett Kelleher’s quest to complete the famously unfinished project. (Tue, 07 Oct 2014 10:31:58 -0700)

GT Advanced first bankruptcy hearing set for Thursday
(Reuters) - Apple Inc supplier GT Advanced Technologies Inc will hold its first Chapter 11 bankruptcy court hearing on Thursday at 10 a.m. ET, according to a clerk in the U.S. bankruptcy court in Manchester, New Hampshire. Investors are eagerly anticipating the hearing, at which GT — Apple's partner in a sapphire glass plant in Arizona — has said it will explain the events that led to Monday's ... (Tue, 07 Oct 2014 13:50:17 -0700)

Bankruptcy Judge Approves Sale of Revel Casino
A bankruptcy judge has OK'd the sale of Atlantic City's former Revel Casino Hotel for 5 cents on the dollar to a Toronto asset management firm. (Tue, 07 Oct 2014 15:22:16 -0700)

Bankruptcy Court Deemed Too Risky for Marc Dreier, Judge Rules
A bankruptcy judge has ruled that while Marc Dreier should testify at an upcoming trial, the imprisoned ex-lawyer can’t do so in his courtroom. (Tue, 07 Oct 2014 17:09:42 -0700)

Bankruptcy could help Winona diocese avoid sex abuse lawsuits
A bankruptcy filing would make the Winona diocese the first in the state, and at least the 12th in the US to seek bankruptcy protection. (Tue, 07 Oct 2014 17:58:00 -0700)

Too soon to file for bankruptcy again?
Dear Bankruptcy Adviser, We filed Chapter 7 bankruptcy in 2006. We presently have a lot of credit card debt among some other things that we should not have done. My husband lost his full-time job and is working a temporary job with a huge pay cut. (Wed, 08 Oct 2014 04:46:14 -0700)

Leading Bankruptcy Attorneys Launch New Firm, Smiley Wang-Ekvall, LLP
Smiley Wang-Ekvall, LLP is a newly launched law firm specializing in insolvency, real estate transactions and business litigation. Attorneys Evan D. Smiley, Lei Lei Wang Ekvall, Kyra E. Andrassy, Kraig ... (Wed, 08 Oct 2014 08:50:00 -0700)

Apple says surprised by GT's bankruptcy filing
Apple Inc said on Wednesday it was surprised by supplier GT Advanced Technologies Inc's bankruptcy filing this week, and is now considering its next steps. GT Advanced, slated to supply scratch-resistant sapphire displays from a new Arizona factory Apple is helping bankroll, filed for bankruptcy on Monday but has offered little explanation as to why. In the iPhone maker's first public response ... (Wed, 08 Oct 2014 09:03:14 -0700)

Apple was caught off guard by partner’s bankruptcy
GT Advanced Technologies, which makes glass for Apple products such as the upcoming Apple Watch, said Monday it has filed for bankruptcy. (Wed, 08 Oct 2014 11:51:09 -0700)

Bankruptcy Consequences
You've done the deed and are out from under your debts – or embarked on a repayment plan. What consequences can you expect and how long will recovery take? (Wed, 08 Oct 2014 14:19:27 -0700)

Is Apple Responsible For GTAT's Bankruptcy?
Apple says it was surprised by GTAT's bankruptcy filing. Here are some reasons to believe the company. (Wed, 08 Oct 2014 14:27:06 -0700)

GT Advanced Asks Bankruptcy Court to Keep Documents Secret
Apple Inc supplier GT Advanced Technologies Inc asked a U.S. bankruptcy court to keep under seal some key documents relating to a third-party, saying this would allow it to avoid paying damages under confidentiality agreements. (Thu, 09 Oct 2014 05:28:03 -0700)

GT says knotty confidential pact rules out bankruptcy explanation
By Tom Hals and Ted Siefer MANCHESTER New Hampshire(Reuters) - Apple Inc supplier GT Advanced Technologies Inc argued on Thursday it could not reveal why it filed for bankruptcy and is asking the court to keep crucial documents sealed, a highly unusual situation that may keep investors in the dark as to the cause of its financial implosion. The company, which had been slated to provide Apple ... (Thu, 09 Oct 2014 10:23:29 -0700)

GT says knotty confidential pact rules out bankruptcy explanation
Apple Inc supplier GT Advanced Technologies Inc argued on Thursday it could not reveal why it filed for bankruptcy and is asking the court to keep crucial documents sealed, a highly unusual situation that may keep investors in the dark as to the cause of its financial implosion. The company, which had been slated to provide Apple with scratch-resistant sapphire for future mobile devices, told ... (Thu, 09 Oct 2014 10:35:46 -0700)

Apple supplier GT to drop sapphire ops, asks bankruptcy plan remain secret
By Ted Siefer and Tom Hals MANCHESTER N.H. (Reuters) - GT Advanced Technologies Inc on Thursday revealed it intends to wind down sapphire production, cutting short its once-promising bid to supply the scratch-resistant material for Apple Inc's iPhones and other mobile devices. Scant information has emerged since GT Advanced filed unexpectedly for bankruptcy on Monday, wiping out most of its ... (Thu, 09 Oct 2014 19:07:03 -0700)

Edelsten US bankruptcy recognised at home
Lawyers for overseas creditors have won a victory over Australian businessman Geoffrey Edelsten in the Federal Court. (Thu, 09 Oct 2014 23:34:14 -0700)

How to Get Your Student Loans Forgiven in Bankruptcy
Most people, including many bankruptcy attorneys, believe erasing student loans is impossible, and trying to do it is useless. But that's not always true. (Fri, 10 Oct 2014 02:00:49 -0700)

The Curse of Apple's Sapphire Factory
GT Advanced Technologies, the Apple supplier that filed for bankruptcy on Oct. 6, isn't the first company to find trouble operating the 1.4 million square-foot facility at the edge of the desert suburb of Mesa, Arizona. Before Apple and GT Advanced agreed to start manufacturing synthetic sapphire at the factory, First Solar had plans to use the facility as a hub for making solar panels. Left ... (Fri, 10 Oct 2014 14:17:20 -0700)

Bankruptcy's end more clear than Orr's future
FILE - In this March 14, 2013, file photo, Detroit emergency manager Kevyn Orr, left, speaks at a news conference in Detroit as Michigan Gov. Rick Snyder, who appointed Orr, listens. (Sun, 12 Oct 2014 01:45:39 -0700)

In GM bankruptcy, an ex-con and hedge funds find common ground
By Nick Brown and Jessica Dye NEW YORK (Reuters) - Roger Dean Gillispie, a former General Motors security guard, spent 20 years in an Ohio prison for rape until a federal court ordered him released in 2011. Now he wants to sue GM for allegedly helping to frame him, and he’s getting support from an unlikely source: hedge funds. Bankruptcy Court in New York for permission to sue GM. The court ... (Sun, 12 Oct 2014 04:24:05 -0700)

Insight - In GM bankruptcy, an ex-con and hedge funds find common ground
Roger Dean Gillispie, a former General Motors security guard, spent 20 years in an Ohio prison for rape until a federal court ordered him released in 2011. Now he wants to sue GM for allegedly helping to frame him, and he’s getting support from an unlikely source: hedge funds. Bankruptcy Court in New York for permission to sue GM. The court, which is overseeing claims against the company in the ... (Sun, 12 Oct 2014 05:49:29 -0700)

RPT-In GM bankruptcy, an ex-con and hedge funds find common ground
Roger Dean Gillispie, a former General Motors security guard, spent 20 years in an Ohio prison for rape until a federal court ordered him released in 2011. Now he wants to sue GM for allegedly helping to frame him, and he's getting support from an unlikely source: hedge funds. Bankruptcy Court in New York for permission to sue GM. The court, which is overseeing claims against the company in the ... (Mon, 13 Oct 2014 04:00:00 -0700)

The Wall Street Journal: Alco Stores files Chapter 11 bankruptcy
Alco Store files for bankruptcy, and says it plans to liquidate or sell the 113-year old retail operation, putting about 3,000 jobs on the line. (Mon, 13 Oct 2014 05:40:55 -0700)

Texas discount chain Alco Stores files for bankruptcy
Texas-based discounter Alco Stores Inc filed for bankruptcy, joining the list of smaller U.S. Alco, based in Coppell, Texas, caters mostly to fixed and low-income customers in rural areas in 23 states. In a bankruptcy filing on Sunday, the company said it was facing increased competition from specialty retailers, dollar stores and internet-based businesses. Alco said it had an initial, or ... (Mon, 13 Oct 2014 07:10:19 -0700)

ALCO seeks Chapter 11 bankruptcy reorganization
Small-town discount retailer ALCO Stores filed for Chapter 11 bankruptcy protection on Sunday, but says it plans to stay in business while it reorganizes. The company filed for bankruptcy in the U.S. Bankruptcy ... (Mon, 13 Oct 2014 09:46:42 -0700)

ALCO Stores files for Chapter 11 bankruptcy reorganization, says it has new financing in place
Small-town discount retailer ALCO Stores filed for Chapter 11 bankruptcy protection on Sunday, but says it plans to stay in business while it reorganizes. (Mon, 13 Oct 2014 09:58:57 -0700)

ALCO Stores Files for Bankruptcy as Small-Town Sales Slow
ALCO Stores Inc. (ALCS) , the 113-year-old small-town retailer, sought bankruptcy protection with a plan to liquidate assets at store-closing sales, blaming a drop in consumer spending on a lingering economic slowdown. (Mon, 13 Oct 2014 13:47:47 -0700)

Bankruptcy filing claims O'Briens Public House building in Troy
Troy A local development company whose owners run O'Brien's Public House has filed for bankruptcy, according to legal papers filed in federal bankruptcy court. TO-DO Development LLC filed its bankruptcy petition on Oct. 8 at the U.S. Bankruptcy Court in Albany. The firm lists its address as 43 Third St., the same as O'Brien's Public House, a bar and restaurant, which opened in May at the ... (Mon, 13 Oct 2014 22:58:45 -0700)

N.J. skydiving firm files for bankruptcy
A Gloucester County skydiving company has filed for bankruptcy, but it says its daredevil fun will continue nonetheless. Freefall Adventures' petition for Chapter 11 - a designation that allows businesses to reorganize during financial hardship - was recorded in federal bankruptcy court this month. (Tue, 14 Oct 2014 00:16:16 -0700)

Detroit bankruptcy center stage in tight Michigan gubernatorial race
The historic Detroit bankruptcy is playing a lead role in the Michigan gubernatorial race, as Republican Gov. Rick Snyder defends the decision to hand the city and its backbreaking financial problems over to an emergency manager who opened the door to controversial cuts. (Tue, 14 Oct 2014 06:16:11 -0700)

GT Advanced Must Reveal Bankruptcy Cause, Watchdog Says
GT Advanced stunned investors last week with the Chapter 11 filing, without a reason. The company explained the secrecy by citing potential penalties of $50 million for each violation of confidentiality agreements with Apple. (Tue, 14 Oct 2014 14:34:16 -0700)

Bankruptcy May Be Archdiocese’s Solution For Abuse Settlements
After a historic settlement in clergy sex abuse lawsuits in Minnesota, now the question becomes how the Catholic Church will pay for it. The exact amount of the settlement has been kept confidential, but experts say it could cost the Archdiocese tens of millions of dollars. (Tue, 14 Oct 2014 20:52:14 -0700)

Detroit Residents Put City’s Bankruptcy Plan on Trial
Detroit residents and retired public workers were given temporary control of the city’s historic bankruptcy trial to present their own case against its $7 billion debt-cutting plan, which includes pension reductions. (Wed, 15 Oct 2014 09:51:23 -0700)

U.S. judge in GT Advanced bankruptcy questions need to seal documents
The judge overseeing the mysterious bankruptcy of an Apple Inc sapphire supplier on Wednesday voiced skepticism over the widespread sealing of documents in the case, saying he is "not seeing the kind of trade secrets" that would warrant sealing. Scant information has emerged since GT Advanced Technologies Inc filed for bankruptcy last week, wiping out most of its market value and triggering ... (Wed, 15 Oct 2014 13:06:11 -0700)

'Praying for justice': Detroit residents speak up in historic bankruptcy
By Peter Suciu DETROIT (Reuters) - Ordinary Detroit residents sounded off with passion and anger on Wednesday as they gave a federal judge their views on the city's plan to exit its historic municipal bankruptcy. U.S. Bankruptcy Judge Steven Rhodes began a hearing on Sept. 2 to determine if Detroit's plan to restructure $18 billion in debt is fair and feasible. On Wednesday, he heard from ... (Wed, 15 Oct 2014 13:49:16 -0700)

Judge in Apple supplier's bankruptcy questions need for secrecy
By Nick Brown and Noel Randewich (Reuters) - The judge overseeing the mysterious bankruptcy of an Apple Inc sapphire supplier on Wednesday voiced skepticism over requests for secrecy and compared the iPhone maker to a demanding homeowner unhappy with how a construction project turned out. Scant information has emerged since GT Advanced Technologies Inc filed for bankruptcy last week, wiping out ... (Wed, 15 Oct 2014 14:23:48 -0700)

Batista’s MMX Follows Oil Unit in Bankruptcy Protection
Eike Batista’s main mining unit became the third of his companies to file for bankruptcy protection in a year after the Brazilian entrepreneur lost his fortune, once the world’s eighth largest. (Wed, 15 Oct 2014 21:37:49 -0700)

Major settlement puts Detroit closer to bankruptcy exit
By Lisa Lambert DETROIT (Reuters) - Detroit announced on Thursday a last-minute settlement with its final major holdout creditor, Financial Guaranty Insurance Co. , as it edged closer to exiting the biggest-ever municipal bankruptcy. Corinne Ball, an attorney at law firm Jones Day, told U.S. Bankruptcy Court Judge Steven Rhodes that the settlement includes an option for FGIC to develop the Joe ... (Thu, 16 Oct 2014 10:53:43 -0700)

Detroit gives arena land to creditor in bankruptcy
DETROIT (AP) -- The city of Detroit, with financial help from the state, plans to demolish the home of the Detroit Red Wings and give the land to a creditor for development as part of a major settlement in the city's bankruptcy case, lawyers said Thursday. (Thu, 16 Oct 2014 12:18:29 -0700)

Santiago Bus Operator Alsacia Files Bankruptcy in N.Y.
Chilean bus operator Inversiones Alsacia SA sought bankruptcy protection in a U.S. court, saying fare evasion and declining ridership have made it difficult to meet financial obligations. (Thu, 16 Oct 2014 12:46:51 -0700)

How Soon Can I Buy a House After Bankruptcy or Foreclosure?
Bouncing back from bankruptcy or foreclosure takes time. But that doesn’t mean you have to shelve your homebuying aspirations for some interminable stretch. (Fri, 17 Oct 2014 02:00:55 -0700)

Detroit bankruptcy case winds down, leaving loose ends to tie up
Closing arguments in the hearing on Detroit's landmark bankruptcy are just days away, leaving odds and ends for the city, its creditors and U.S. Bankruptcy Judge Steven Rhodes to resolve. On Friday, Rhodes heard arguments on a claim from the American Federation of State, County and Municipal Employees union that the city owes its members pension money from 2011. In the past, when Detroit's ... (Fri, 17 Oct 2014 12:54:50 -0700)

Bankruptcy judge voids Trump Taj Mahal's union contract
A federal bankruptcy judge on Friday allowed the owners of Atlantic City's bankrupt Trump Taj Mahal Casino Resort to void its contract with its 1,100 union workers. (Sat, 18 Oct 2014 00:32:36 -0700)

Light at the End of the Tunnel for Detroit's Bankruptcy
The deal would tie creditors to the city's future (Sun, 19 Oct 2014 21:41:50 -0700)

Judge set to rule on Detroit bankruptcy plan week of Nov. 3
A U.S. Bankruptcy Court judge said on Monday he will rule during the latter part of the week of Nov. 3 on Detroit's plan to adjust its debts and exit the biggest-ever municipal bankruptcy. Judge Steven ... (Mon, 20 Oct 2014 06:32:58 -0700)

Judge to rule on Detroit bankruptcy plan in early November
Bankruptcy Judge Steven Rhodes said he would issue an oral ruling in court late that week on whether the plan is fair to creditors and feasible for the city to carry out. The wrap-up of the historic bankruptcy comes after Detroit reached settlements with all of its major creditors, including its two retirement systems and companies that guaranteed payments on the city's bonds. Michigan Governor ... (Mon, 20 Oct 2014 07:57:08 -0700)

Detroit bankruptcy decision set for early November
A judge pledged Monday to make a swift decision on Detroit's plan to get out of bankruptcy, signaling that the largest U.S. case of an insolvent local government could close in just a few more weeks. Judge ... (Mon, 20 Oct 2014 10:52:50 -0700)

Apple's secrets may be outed in obscure bankruptcy case
The bankruptcy of a key Apple supplier may shine a bright light on sensitive business details the personal electronics giant fights to keep out of the public eye. (Mon, 20 Oct 2014 11:35:48 -0700)

Samuel Wyly files for bankruptcy
Samuel Wyly has filed for bankruptcy after an SEC enforcement case. (Mon, 20 Oct 2014 12:48:58 -0700)

Alternatives To Business Bankruptcy
Bankruptcy isn't the only alternative for a struggling business. It can try negotiating with creditors or liquidating assets outside the U.S courts. (Mon, 20 Oct 2014 14:49:20 -0700)

Texas investor Sam Wyly files for bankruptcy after losing SEC fraud case
Texas tycoon Sam Wyly has filed for bankruptcy, saying he does not have the assets to pay the nearly $300 million that U.S. Securities and Exchange Commission (SEC) as the reason for seeking Chapter 11 protection. District Judge Shira Scheindlin in New York ordered Wyly and the estate of his late brother Charles to pay damages of $187.7 million plus interest to the SEC, after a jury found them ... (Mon, 20 Oct 2014 14:56:11 -0700)

GT Advanced bankruptcy case may expose Apple's secrets
A key Apple supplier believes the public should be made aware of the details of an 'oppressive and burdensome' deal that lead to its bankruptcy, but it filed documents to court under seal because it faces fines of $US50 million per violation if it breaches Apple's confidentiality agreement. (Mon, 20 Oct 2014 14:59:56 -0700)

Judge wants settlements, loan, fees in Detroit's closing arguments
The federal judge overseeing Detroit's historic bankruptcy case wants the city to explain its settlements with creditors and its exit financing in closing arguments next week, he said on Tuesday. Bankruptcy Court Judge Steven Rhodes said it was up to the city to determine what it will cover in the arguments, scheduled for Oct. 27, but he specifically wanted to hear about certain issues. Detroit ... (Tue, 21 Oct 2014 08:46:16 -0700)

Dallas tycoon Wyly files for bankruptcy protection
Prominent Dallas businessman Samuel Wyly has filed for bankruptcy protection as he and the estate of his brother face up to $400 million in penalties after being found liable for hiding stock holdings ... (Tue, 21 Oct 2014 08:46:44 -0700)

Judge wants settlements, loan, fees in Detroit's closing arguments
By Karen Pierog DETROIT (Reuters) - The federal judge overseeing Detroit's historic bankruptcy case wants the city to explain its settlements with creditors and its exit financing in closing arguments next week, he said on Tuesday. U.S. Bankruptcy Court Judge Steven Rhodes said it was up to the city to determine what it will cover in the arguments, scheduled for Oct. 27, but he specifically ... (Tue, 21 Oct 2014 08:56:01 -0700)

GT Advanced nears deal over Apple secrecy - lawyer
Scant details have emerged since GT Advanced filed for bankruptcy on Oct. 6, wiping out most of its market value and triggering speculation as to what may have soured its relationship with Apple and torpedoed its prospects. Bankruptcy Court in Springfield, Massachusetts, GT Advanced's lawyer, Luc Despins, said he was "optimistic" an agreement would be reached within the next hour or so to ... (Tue, 21 Oct 2014 10:59:37 -0700)

Bankruptcy hearing set for Thursday in Trump casino name lawsuit dispute
A hearing is set for Thursday in Delaware in a dispute between Donald and Ivanka Trump and the casino company he once ran, over whether Atlantic City's struggling Taj Mahal casino can continue to use the Trump name. (Tue, 21 Oct 2014 13:28:16 -0700)

Bankruptcy figures hit six-year low
The number of Scots going bankrupt is at its lowest level for more than six years, according to official figures. (Wed, 22 Oct 2014 04:51:24 -0700)

The Deal Announces Results Of Q3 2014 Bankruptcy League Tables
NEW YORK, Oct. 22, 2014 /PRNewswire/ --  The Deal , TheStreet's (NASDAQ:TST) institutional business, announced the results of their quarterly rankings of the top firms and professionals involved in active ... (Wed, 22 Oct 2014 07:19:00 -0700)

Expert says Detroit bankruptcy plan feasible
DETROIT (AP) — Detroit's plan to get out of bankruptcy is feasible, a court-appointed expert testified Wednesday as the last witness in a historic trial to determine whether the largest city in U.S. history to file for Chapter 9 can get back on its feet. (Wed, 22 Oct 2014 09:21:50 -0700)

Detroit can survive after bankruptcy but large risks loom: expert
By Karen Pierog DETROIT (Reuters) - Detroit's relatively fast move through municipal bankruptcy has resulted in costly creditor settlements and too little emphasis on fixing the city's broken operations, a restructuring expert testified in U.S. Bankruptcy Court on Wednesday. Still, Martha Kopacz, who was appointed by Judge Steven Rhodes to assess the viability of Detroit’s plan to restructure ... (Wed, 22 Oct 2014 10:47:55 -0700)

Bankrupt Wyly’s Food, Friends Spending Challenged by SEC
Samuel Wyly, the billionaire investor who filed for bankruptcy three days ago, is trying to burn through cash with extravagant spending before his assets can be frozen in a U.S. Securities and Exchange Commission civil suit, lawyers for the agency told a judge. (Wed, 22 Oct 2014 12:37:39 -0700)

U.S. SEC slams tycoon Wyly's bankruptcy budget as 'staggering'
Texas tycoon Sam Wyly, who filed for bankruptcy this week, is trying to exhaust his fortune through exorbitant spending to impede the U.S. During a hearing in Dallas bankruptcy court, a lawyer for the SEC criticized Wyly's proposed budget as "staggering." Items include $32,000 a month for assistants to help him write his books and nearly $7,000 a month to support elderly friends and family ... (Wed, 22 Oct 2014 15:43:02 -0700)

U.S. SEC slams tycoon Wyly's bankruptcy budget as 'staggering'
Texas tycoon Sam Wyly, who filed for bankruptcy this week, is trying to exhaust his fortune through exorbitant spending to impede the U.S. During a hearing in Dallas bankruptcy court, a lawyer for the SEC criticized Wyly's proposed budget as "staggering." Items include $32,000 a month for assistants to help him write his books and nearly $7,000 a month to support elderly friends and family ... (Thu, 23 Oct 2014 07:01:53 -0700)

Wyly bankruptcy budget 'staggering'
The SEC says Sam Wyly's bankruptcy budget, including $32,000 a month for assistants, will make it hard to collect claims. (Thu, 23 Oct 2014 07:48:38 -0700)

U.S. judge to order asset freeze on Wyly after bankruptcy
District Judge Shira Scheindlin said she was "not very happy" about the bankruptcy filing, which came after she ordered him and the estate of his late brother Charles to pay $187.7 million plus interest for engaging in fraud. The judge said she would freeze the assets of Wyly and his brother's estate, as well as funds held in offshore trusts at the center of a lawsuit by the U.S. (Thu, 23 Oct 2014 10:59:32 -0700)

GT Advanced shareholders see value in stock despite bankruptcy
By Nick Brown (Reuters) - Shareholders of GT Advanced Technologies are lobbying regulators to form a committee to vouch for their interests in the sapphire maker's bankruptcy, believing their shares may still have value. GT Advanced, which supplied sapphire to Apple Inc , filed for Chapter 11 protection this month under mysterious circumstances, sending shares plummeting. The case boggled the ... (Thu, 23 Oct 2014 13:28:07 -0700)

Preventing Medical Bankruptcy
Medical expenses are the number-one cause of bankruptcy in the United States. Here are some steps to protect yourself. (Fri, 24 Oct 2014 11:34:48 -0700)

Bankruptcy trustee proposes another deal with one of Myrtle Beach-based Direct Air’s founders
Joseph Baldiga, the trustee in Direct Air’s bankruptcy case, has reached a tentative settlement with another of the failed air carrier’s founders, agreeing to accept $250,000 from Robert Keilman in exchange for dropping all claims against the charter’s former chief financial officer. (Fri, 24 Oct 2014 12:45:56 -0700)

D.C.-area bankruptcy filings for Oct. 27
These firms recently filed with the U.S. Bankruptcy Court?s local court clerk?s offices. (Sun, 26 Oct 2014 09:48:39 -0700)

making bankruptcy pay
Billy Ogan, a former wellknown singer, clarified on his Facebook page last week that he had indeed been declared bankrupt by court (Sun, 26 Oct 2014 10:15:24 -0700)

Final remarks next in Detroit bankruptcy trial
Lawyers have begun making their closing arguments in Detroit's bankruptcy trial. (Mon, 27 Oct 2014 05:04:39 -0700)

Detroit pension debt holders OK bankruptcy deal, attorneys say
Holders of the bulk of Detroit's pension debt have signed off on a settlement and will drop their objections to the city's plan to exit bankruptcy, attorneys said on Monday. Investment firms that own 90 percent of the $1.1 billion of certificates of participation insured by Financial Guaranty Insurance Co. were the last significant objectors in the case, which was wrapping up in federal court ... (Mon, 27 Oct 2014 06:53:21 -0700)

Final remarks begin in Detroit bankruptcy trial
Lawyers have begun making their closing arguments in Detroit's bankruptcy trial. (Mon, 27 Oct 2014 07:58:03 -0700)

Detroit bankruptcy trial nears end
DETROIT — The city of Detroit made its final argument today to get out of bankruptcy, saying creative deals with creditors and other key factors have put it in position to scrub its books less than 16 months after filing the largest public case in U.S. history. (Mon, 27 Oct 2014 08:10:15 -0700)

Detroit makes final arguments to exit bankruptcy
The city of Detroit made its final argument Monday to get out of bankruptcy, saying creative deals with creditors and other key factors have put it in position to scrub its books less than 16 months after ... (Mon, 27 Oct 2014 08:32:04 -0700)

Detroit Pension Debt Holders End Last Objection to Plan
Jones Day Law Firm Bankruptcy Lawyer Bruce Bennett told U.S. Bankruptcy Judge Steven Rhodes “The end really is in sight. The city has settled with all the major economic players in the city of Detroit.” (Mon, 27 Oct 2014 10:49:59 -0700)

Bankruptcy judge to rule on Energy Future's Oncor unit sale Nov. 3
A bankruptcy judge will rule next week if Energy Future Holdings Corp, a bankrupt Texas power company, can conduct an auction for its power distribution business, which is likely worth billions of dollars. "I believe the record is sufficiently dense and the issues sufficiently important that I need some time to digest that and make a reasoned ruling," said Christopher Sontchi, a U.S. The company ... (Mon, 27 Oct 2014 14:59:19 -0700)

Detroit makes final arguments to exit bankruptcy
The city of Detroit urged a judge on Monday to approve its plan to get out of bankruptcy, calling it a sweeping effort to "solve some really bad problems" by wiping out billions in debt and spending ... (Mon, 27 Oct 2014 15:52:09 -0700)

Detroit trial ends, judge to rule Nov. 7 on bankruptcy plan
By Lisa Lambert DETROIT (Reuters) - Detroit on Monday wrapped up its historic bankruptcy case, which began with contentious opposition from creditors and ended with eleventh-hour deals enabling the city to shed $7 billion of its $18 billion of debt and obligations. In closing arguments, attorneys for the city and others worked to convince U.S. Bankruptcy Judge Steven Rhodes that he should permit ... (Mon, 27 Oct 2014 16:39:46 -0700)

Detroit's exit from bankruptcy: Up to the judge
The complex, controversial and innovative plan to reboot the city's busted finances is now down to the final decision (Mon, 27 Oct 2014 18:28:40 -0700)

How do I get information about my bankruptcy case?
Learn about different places to search when seeking information about an individual's bankruptcy. Learn about Public Access to Court Electronic Records. (Tue, 28 Oct 2014 06:20:23 -0700)

Can I keep my credit cards after filing bankruptcy?
Learn what happens to your credit cards after you file bankruptcy, and see when it might be possible to keep your card after the bankruptcy is over. (Tue, 28 Oct 2014 06:20:43 -0700)

Will filing bankruptcy stop an eviction?
Learn about how filing bankruptcy can affect an eviction process, and find out what recourse your landlord has if you file bankruptcy. (Tue, 28 Oct 2014 06:29:17 -0700)

What debts can I discharge when filing for bankruptcy?
Discover which types of debt can be discharged through a Chapter 7 or a Chapter 13 bankruptcy and which debts require an exception from the bankruptcy court. (Tue, 28 Oct 2014 06:35:45 -0700)

Bankruptcy judge OKs Toll Road reorganization
CHICAGO | A federal bankruptcy judge on Tuesday approved a reorganization plan for the Indiana Toll Road that should speed the sale of the 157-mile road forward. (Tue, 28 Oct 2014 10:55:00 -0700)

GT Advanced Describes ‘Unsustainable’ Apple Relationship
GT Advanced Technologies Inc. Chief Operating Officer Daniel Squiller said bankruptcy was necessary because an “ambitious” supply agreement with Apple (AAPL) Inc. had become “unsustainable” and terms couldn’t be reworked. (Tue, 28 Oct 2014 21:53:43 -0700)

Bankruptcies expected to fall to lowest level in more than a decade
Baker Tilly expects bankruptcy orders in England and Wales to fall a level not seen since 2000 (Tue, 28 Oct 2014 22:00:30 -0700)

Bankrupt Wyly Sold Art at Christie’s Without Court Approval
Former billionaire Samuel Wyly, who filed for bankruptcy after losing a U.S. Securities and Exchange Commission fraud lawsuit, sold more than $320,000 worth of art in a Christie’s auction without a judge’s approval and with an asset freeze looming, the SEC said. (Wed, 29 Oct 2014 10:44:54 -0700)

Stockton bankruptcy ruling will decide fate of public pensions
In a closely watched case, a federal judge on Thursday is expected to decide whether the bankrupt city of Stockton can continue to pay employees generous pensions that soon could consume one-fifth of municipal revenues. (Wed, 29 Oct 2014 16:59:45 -0700)

Stockton seeks exit from bankruptcy; awaits key ruling from judge
Stockton residents will likely learn Thursday if they can put more than two years of financial uncertainty behind them. (Thu, 30 Oct 2014 01:07:27 -0700)

Stockton seeks to exit from bankruptcy
SACRAMENTO, Calif. (AP) — Stockton residents will likely learn Thursday if they can put more than two years of financial uncertainty behind them. (Thu, 30 Oct 2014 03:04:42 -0700)

Judge to rule on whether Stockton, California can exit bankruptcy
By Robin Respaut SAN FRANCISCO (Reuters) - A judge in Sacramento is set to decide on Thursday if the California city of Stockton can exit bankruptcy. If not, the city may need to cut its pension obligations, a controversial issue that has captured the attention of the $3.7 trillion U.S. municipal bond market. A haircut to California Public Employees' Retirement System, or Calpers, pensions would ... (Thu, 30 Oct 2014 06:08:28 -0700)

Schilling reaches bankruptcy agreement
Former Red Sox pitcher Curt Schilling has reached an agreement on the Studio 38 bankruptcy case. (Thu, 30 Oct 2014 06:48:57 -0700)

Judge approves Stockton bankruptcy plan; worker pensions safe
A federal bankruptcy judge approved the city of Stockton’s bankruptcy recovery plan, allowing the city to continue with planned pension payments to retired workers. (Thu, 30 Oct 2014 10:29:51 -0700)

California city faces key ruling on bankruptcy
SACRAMENTO, Calif. (AP) — Residents in the California city of Stockton will likely learn Thursday if they can put more than two years of financial uncertainty behind them. (Thu, 30 Oct 2014 10:33:00 -0700)

Judge in Stockton, Calif., bankruptcy says Franklin should only get $4 mln
The judge in the Stockton, California, bankruptcy ruled on Thursday that creditor Franklin Templeton will get just over $4 million from an original debt of $36 million. Federal Bankruptcy Judge Christopher Klein ruled on Franklin as he gave Stockton the green light to exit bankruptcy after more than two years in bankruptcy protection. Klein said he was not persuaded by Franklin's arguments that ... (Thu, 30 Oct 2014 12:04:23 -0700)

Judge in Stockton, Calif., bankruptcy says Franklin should only get $4 million
(Reuters) - The judge in the Stockton, California, bankruptcy ruled on Thursday that creditor Franklin Templeton will get just over $4 million from an original debt of $36 million. U.S. Federal Bankruptcy Judge Christopher Klein ruled on Franklin as he gave Stockton the green light to exit bankruptcy after more than two years in bankruptcy protection. Klein said he was not persuaded by Franklin ... (Thu, 30 Oct 2014 13:09:35 -0700)

Calpers welcomes Stockton bankruptcy ruling, says it 'protects pension promises'
(Reuters) - The California Public Employees' Retirement System (Calpers) welcomed a ruling by a federal judge on Thursday allowing Stockton to exit bankruptcy in a plan that will not see pensions cut. U.S. Federal Bankruptcy Judge Christopher Klein gave Stockton, California, the green light to exit bankruptcy after more than two years of proceedings. His approval of the city's bankruptcy plan ... (Thu, 30 Oct 2014 13:09:35 -0700)

Stockton, California, Wins Court Approval of Bankruptcy
Stockton, California, won court approval of its plan to exit bankruptcy by paying bond investors pennies on the dollar while fully protecting public-worker pensions, in a case that has been watched by other cities in the state facing heavy retiree costs. (Thu, 30 Oct 2014 14:19:05 -0700)

Stockton bankruptcy ruling preserves city pensions
A federal bankruptcy judge approved the city of Stockton's bankruptcy recovery plan Thursday and sidestepped challenges to its workers' pensions that could have threatened municipal retirement plans across the state in the years ahead. (Thu, 30 Oct 2014 18:29:53 -0700)

Stockton’s Costly Bankruptcy May Not Tempt Other Cities
Stockton, California, is emerging from bankruptcy saddled with legal bills and a damaged reputation that will deter other U.S. cities from seeking a path through court to cut their debts. (Thu, 30 Oct 2014 22:14:07 -0700)

Bankruptcy ruling not as bad as it looks
Federal judge’s decision in Stockton bankruptcy case seems to warrant more negativism. (Fri, 31 Oct 2014 14:38:00 -0700)


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