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Home > Bankruptcy News

Bankruptcy News Dec 2014

Capitol Report: House passes financial institution bankruptcy bill
A bill passed by the House will allow banks to begin the bankruptcy process or for the Federal Reserve to help start the process. (Mon, 01 Dec 2014 14:41:03 -0800)

House passes rules for big banks in bankruptcy
Legislation laying out rules for big failing banks that enter bankruptcy proceedings advanced in Congress as lawmakers still grapple with the aftermath of the financial crisis. The House passed the bipartisan ... (Mon, 01 Dec 2014 17:15:08 -0800)

WCCC strikes deal over arena garage completing Detroit bankruptcy plan
The city's offer to give its final creditor the Joe Louis Arena parking garage was a crucial piece of an important deal to get the city out of bankruptcy.There was one problem - the city didn't own all of the garage. (Mon, 01 Dec 2014 20:05:13 -0800)

Too Big to Fail? Congress Rewrites Bankruptcy Legislation
Lawmakers are hoping to avoid another financial crisis by reforming bankruptcy rules for large banks. (Tue, 02 Dec 2014 06:47:58 -0800)

Get rid of home lien ex left you with
Dear Bankruptcy Adviser, My ex-wife was sued by a hospital and the hospital put a lien on my house. The house was given to me as part of our divorce. She filed bankruptcy and included this debt, but did not have the lien removed. Can I do anything at this point? (Tue, 02 Dec 2014 08:09:43 -0800)

House OK of Bank Bankruptcy Bill Pressures Senate to Act
The Senate would need to remove OLA repeal to win Obama signature on bankruptcy reform. (Tue, 02 Dec 2014 08:13:00 -0800)

Letter calls on Vatican to investigate Milwaukee bankruptcy
“How they’ve handled it is just wrong,” said Fr. James Connell, a canon lawyer and retired priest. “They have been hurting people by their actions. It is a moral issue as well as a legal issue. We are hopeful there will be an investigation.” (Tue, 02 Dec 2014 08:32:07 -0800)

House OK of Bank Bankruptcy Bill Pressures Senate to Act
The House of Representatives late Monday voted to approve a bipartisan bill amending the bankruptcy code for large financial institutions as part of an ongoing response to the 2008 collapse of Lehman Brothers. The House approved the measure by voice vote, which means that the names or numbers of senators voting on either side are not recorded. It follows approval – also by voice vote-- of a ... (Tue, 02 Dec 2014 08:43:46 -0800)

Orr: It's time for Detroit to move forward
The state-appointed emergency manager who helped take Detroit into bankruptcy said Tuesday that it's time to bring this part of the city's financial history to a close. (Tue, 02 Dec 2014 10:44:00 -0800)

Emergency Manager Hopes To See Detroit Emerge From Bankruptcy By Christmas
Kevyn Orr says he hopes to resign from his post as Detroit EM within the next week or two. (Tue, 02 Dec 2014 14:30:29 -0800)

Mexico's Urbi files for bankruptcy to restructure debt
Mexican homebuilder Urbi has filed for bankruptcy protection to restructure its debt, the company said on Tuesday. The creditors which have so far signed the restructuring plan held some 21.9 billion pesos ... (Tue, 02 Dec 2014 14:34:12 -0800)

Bankruptcy filings drop 3.8 percent in November
Bankruptcy filings in Buffalo and Rochester declined 3.8 percent in November, to 356, according to the U.S. Bankruptcy Court for the Western District of New York. (Tue, 02 Dec 2014 21:52:22 -0800)

Exclusive: Bankrupt San Bernardino has paid $6 million legal fees, millions more expected
By Tim Reid LOS ANGELES (Reuters) - San Bernardino, California, has run up legal costs of over $6 million since it declared bankruptcy in 2012, according to a senior city official. Millions more in fees are expected before it exits Chapter 9 protection, underscoring the huge cost cities face when opting to resolve their debts through bankruptcy, experts say. San Bernardino, a city of 205,000 65 ... (Wed, 03 Dec 2014 07:43:16 -0800)

Conservative activist blames City Hall for bankruptcy filing
Orville Seymer, a top official with Citizens for Responsible Government, filed for bankruptcy last month, listing $147,126 in assets and more than $1 million in liabilities. (Wed, 03 Dec 2014 08:37:41 -0800)

Negotitations on fees in bankruptcy case
The final tab for attorneys and consultants in Detroit’s bankruptcy are being negotiated to save the city and residents money. (Wed, 03 Dec 2014 10:54:38 -0800)

NECC trustee files compensation plan for 2012 meningitis outbreak victims
(Reuters) - The trustee overseeing the bankruptcy of a Massachusetts pharmacy linked to a 2012 meningitis outbreak that killed 64 people, filed a plan that would set aside at least $135 million to compensate victims and their families. The plan was filed after a federal bankruptcy court in July approved a deal to settle scores of lawsuits against New England Compounding Center (NECC). NECC shut ... (Wed, 03 Dec 2014 20:46:22 -0800)

Retailer Deb Blames ‘Old, Tired Stores’ for Bankruptcy
Womenswear retailer Deb Stores Holding LLC joined clothing chains including Loehmann’s Inc. and Coldwater Creek Inc. in filing for bankruptcy, saying a shortage of capital left it with “old, tired stores.” (Thu, 04 Dec 2014 09:01:34 -0800)

Teresa Giudice Sues Bankruptcy Lawyer for $5 Million
Just weeks before she reports to prison, Teresa Giudice has filed suit against her former lawyer claiming he is the reason she's headed to the big house. (Thu, 04 Dec 2014 09:03:11 -0800)

Teresa Giudice suing her bankruptcy lawyer for $5 million
"Real Housewives of New Jersey" star claims the attorney mishandled her 2009 bankruptcy filing (Thu, 04 Dec 2014 09:44:30 -0800)

Cerberus-owned Deb Shops files for bankruptcy
The Deb Shops retail chain filed its second bankruptcy in less than four years on Thursday and said it may conduct a going-out-of-business sale at its 295 stores that specialize in teen and young women's ... (Thu, 04 Dec 2014 10:30:11 -0800)

Deb Shops files for bankruptcy
Teen retailer Deb Shops has filed for bankruptcy protection and is taking steps to liquidate if it can't find a buyer, according to court documents filed Thursday. (Thu, 04 Dec 2014 11:28:03 -0800)

Apparel retailer Delia*s to file for bankruptcy
Delia*s Inc said it was liquidating assets and would file for Chapter 11 bankruptcy protection "in the very near term," becoming the second teen retailer to go out of business in as many days. ... (Fri, 05 Dec 2014 07:55:48 -0800)

Delia's to file for bankruptcy
Delia's said it was liquidating assets and would file for Chapter 11 bankruptcy protection. (Fri, 05 Dec 2014 09:04:14 -0800)

Delia's files for bankruptcy
The once-popular US teen retailer Delia's says it will liquidate all of its stores and file for Chapter 11 bankruptcy protection, after failing to report an annual profit since 2007. (Fri, 05 Dec 2014 10:55:10 -0800)

Bankruptcy judge approves sale of Maine paper mill
A bankruptcy court judge on Friday approved the $10.5 million sale of a shuttered paper mill to a Wisconsin company that wants to reopen it and bring back about 200 workers by year's end. Expera Specialty ... (Fri, 05 Dec 2014 12:38:18 -0800)

Bankruptcy judge approves Wisconsin company's purchase of shuttered Maine paper mill
A bankruptcy court judge on Friday approved the $10.5 million sale of a shuttered paper mill to a Wisconsin company that wants to reopen it and bring back about 200 workers by year's end. (Fri, 05 Dec 2014 12:59:06 -0800)

Detroit may not exit bankruptcy until Dec. 15
Detroit might not be ready to exit the biggest municipal bankruptcy in U.S. history until Dec. 15, a spokesman for the city's emergency manager said on Friday. " 15th is the target we think the city ... (Fri, 05 Dec 2014 13:01:07 -0800)

Detroit may not exit bankruptcy until December 15
DETROIT (Reuters) - Detroit might not be ready to exit the biggest municipal bankruptcy in U.S. history until Dec. 15, a spokesman for the city's emergency manager said on Friday. "(The) 15th is the target we think the city can meet," said Bill Nowling, the spokesman. An attorney for the city said last month Detroit could potentially exit bankruptcy around Dec. 8-10 as it incorporated the debt ... (Fri, 05 Dec 2014 16:25:15 -0800)

Dunne blames high costs for giving up fight to escape €700m in debts
US bankruptcy court approves developer’s application to waive a write-off of his debts (Sat, 06 Dec 2014 00:50:57 -0800)

Bankruptcy commission would reduce barriers to Ch. 11 exit
Bankrupt U.S. companies would have more leeway to impose restructuring plans over creditors' objections under new recommendations by a commission to overhaul Chapter 11 bankruptcy rules. As part of a report ... (Sat, 06 Dec 2014 13:18:56 -0800)

Bankruptcy commission would reduce barriers to Chapter 11 exit
By Nick Brown (Reuters) - Bankrupt U.S. companies would have more leeway to impose restructuring plans over creditors’ objections under new recommendations by a commission to overhaul Chapter 11 bankruptcy ... (Sat, 06 Dec 2014 13:20:00 -0800)

Bankruptcy trustee recovers $10M toward Northern Berkshire Healthcare debt
NORTH ADAMS >> The trustee overseeing the bankruptcy of Northern Berkshire Healthcare so far has recovered roughly $10 million against more than $35 million in secured debt, according to filings at the U. (Sun, 07 Dec 2014 01:38:50 -0800)

Washington-area bankruptcy filings for Dec. 8
These firms recently filed with the U.S. Bankruptcy Court?s local court clerk?s offices. (Sun, 07 Dec 2014 11:07:42 -0800)

Research and Markets: Bankruptcy Yearbook & Almanac 2014
Research and Markets has announced the addition of the "The Bankruptcy Yearbook & Almanac" report to their of (Mon, 08 Dec 2014 01:35:00 -0800)

5 Things to Do After Bankruptcy
So you filed for bankruptcy and received your discharge. Here are five steps to take to help get you back on the road to financial recovery. (Mon, 08 Dec 2014 03:00:53 -0800)

Delia's files for Chapter 11 bankruptcy
The teen retailer Delia's is seeking Chapter 11 bankruptcy protection and plans to sell all its merchandise and shut down. The company said Monday that it failed to find a buyer for the business. Delia's ... (Mon, 08 Dec 2014 05:24:54 -0800)

Teen apparel retailer Delia*s files for bankruptcy
(Reuters) - Teen apparel retailer Delia*s Inc filed for Chapter 11 bankruptcy protection and said it had hired advisers to help liquidate its assets. The company listed total assets of $74 million and liabilities of $32.2 million in its filing on Sunday with a U.S. bankruptcy court. The company also said Chief Executive Tracy Gardner and Chief Operating Officer Brian Lex Austin-Gemas resigned on ... (Mon, 08 Dec 2014 05:32:04 -0800)

Bankruptcy Panel Pushes U.S. Lawmakers to Fix Law
Bankruptcy Panel Pushes U.S. Lawmakers to Fix Law (Mon, 08 Dec 2014 05:45:50 -0800)

Bankruptcy Group Offers Congress Ideas to Ease Chapter 11
A bankruptcy research group is unveiling hundreds of proposed recommendations to Congress for what it called a “substantial modernization” of Chapter 11 of the U.S. Bankruptcy Code. (Mon, 08 Dec 2014 06:54:32 -0800)

Research and Markets: Bankruptcy Data and Bankruptcy Week Subscription
Research and Markets has announced the addition of the "Bankruptcy Data and Bankruptcy Week Subscription" subscri (Mon, 08 Dec 2014 13:59:00 -0800)

Proposed U.S. bankruptcy rule changes spark debate from lenders
By Nick Brown (Reuters) - Lenders are concerned their investments in broken companies would lose protections under proposed changes to U.S. bankruptcy rules. A 400-page report nearly three years in the making, released on Monday by the American Bankruptcy Institute’s Commission to Study the Reform of Chapter 11, laid out hundreds of recommended changes to law, some of which give companies more ... (Mon, 08 Dec 2014 16:35:42 -0800)

With bankruptcy bargain, DIA must shoulder $350M burden
Bloomberg - Detroit's world-class art collection became a fulcrum for the city’s bankruptcy settlement, with such cherished works as Vincent Van Gogh’s “Self Portrait” leveraging an $816 million deal to fund city pensions. Now, the Detroit Institute of Arts must raise as much as $350 million to fulfill its end of the bargain and sustain it after a local arts tax expires in 2022. That’s a tall ... (Tue, 09 Dec 2014 04:01:57 -0800)

Detroit set to officially come out of bankruptcy
The nation's largest municipal bankruptcy finally comes to a conclusion. (Wed, 10 Dec 2014 08:02:32 -0800)

Detroit to exit historic bankruptcy later Wednesday
DETROIT (Reuters) - Detroit will officially exit the biggest-ever U.S. municipal bankruptcy later on Wednesday, officials said, allowing Michigan's largest city to start a new chapter with a lighter debt load. The city, which filed for bankruptcy in July 2013 as years of population and revenue losses took a toll on its budget, will shed about $7 billion of its $18 billion of debt and obligations ... (Wed, 10 Dec 2014 09:05:40 -0800)

Governor: Detroit bankruptcy officially over
Michigan Gov. Rick Snyder says Detroit's bankruptcy is officially ending. Snyder said during a news conference Wednesday that the nation's largest municipal bankruptcy will end at midnight. He thanked ... (Wed, 10 Dec 2014 09:08:23 -0800)

Detroit bankruptcy to end at midnight
Michigan Gov. Rick Snyder said during a news conference Wednesday that Detroit's municipal bankruptcy will end at midnight. (Wed, 10 Dec 2014 09:18:55 -0800)

Detroit's Bankruptcy Is Over, Michigan's Governor Says
The city's bankruptcy, the largest municipal bankruptcy in U.S. history, will end at 12:01 a.m. ET Thursday, Gov. Rick Snyder said. The city filed for bankruptcy on July 18, 2013. (Wed, 10 Dec 2014 09:57:14 -0800)

Detroit's Bankruptcy Is Over, Michigan's Governor Says
The city's bankruptcy, the largest municipal bankruptcy in U.S. history, will end at 12:01 a.m. ET Thursday, Gov. Rick Snyder said. The city filed for bankruptcy on July 18, 2013. (Wed, 10 Dec 2014 10:02:25 -0800)

Detroit bankruptcy declared over; emergency manager resigns
Michigan’s governor declared Detroit’s bankruptcy ended Wednesday after Kevyn Orr, the emergency manager appointed to oversee the once-booming city’s recovery from decades of decline, said the worst of the financial crisis was over and that he was stepping down. (Wed, 10 Dec 2014 10:18:35 -0800)

Detroit bankruptcy declared over; emergency manager resigns
Michigan’s governor declared Detroit’s bankruptcy ended Wednesday after Kevyn Orr, the emergency manager appointed to oversee the once-booming city’s recovery from decades of decline, said the worst of the financial crisis was over and that he was stepping down. (Wed, 10 Dec 2014 10:21:13 -0800)

Governor: Detroit bankruptcy officially ending
DETROIT (AP) — Detroit is formally emerging from bankruptcy, marking the end of the largest municipal case in U.S. history, with officials looking forward to better times and pledging to take advantage of the fresh start. (Wed, 10 Dec 2014 10:30:13 -0800)

Governor: Detroit bankruptcy officially ending
Detroit is formally emerging from bankruptcy, marking the end of the largest municipal case in U.S. history, with officials looking forward to better times and pledging to take advantage of the fresh start. ... (Wed, 10 Dec 2014 10:30:13 -0800)

Detroit to exit historic bankruptcy later Wednesday
Detroit will officially exit the biggest-ever U.S. municipal bankruptcy later on Wednesday, officials said, allowing Michigan's largest city to start a new chapter with a lighter debt load. The city, which ... (Wed, 10 Dec 2014 11:50:26 -0800)

Detroit emerges from nation's largest municipal bankruptcy
The nation’s largest municipal bankruptcy ended Wednesday when the lawyer overseeing Detroit’s fiscal recovery declared the crisis over and gave elected officials control of their own budget for the first time in 20 months, a deal made possible in large part by the city’s... (Wed, 10 Dec 2014 12:01:26 -0800)

Detroit to emerge from 'historic' bankruptcy Wednesday
Detroit's historic Chapter 9 bankruptcy ended Wednesday, marking an end to Kevyn Orr's tenure as emergency manager as the city enters a "new chapter," as Michigan Gov. Rick Snyder (R) put it.  (Wed, 10 Dec 2014 13:05:13 -0800)

National digest: Dec. 11, 2014: Detroit’s bankruptcy ends
A roundup of news from across the country. (Wed, 10 Dec 2014 16:50:17 -0800)

Detroit to emerge from 'historic' bankruptcy Wednesday
Detroit's historic Chapter 9 bankruptcy will be officially over by midnight on Wednesday, marking an end to the tenure of emergency manager Kevyn Orr.  (Wed, 10 Dec 2014 17:20:30 -0800)

Detroit exits bankruptcy, mayor says 'enormous challenges' remain
The formalities may be over for Detroit, which officially exited bankruptcy after midnight Wednesday and shrugged off the yoke of state receivership. But efforts to make the Motor City livable for residents and appealing to businesses will likely have to last for years to come. (Thu, 11 Dec 2014 05:01:10 -0800)

Deals reached over Detroit bankruptcy fees: court mediators
(Reuters) - Law firms and consultants reached agreements with Detroit over fees they charged the city for work on its historic bankruptcy, federal court mediators said on Thursday. The mediators said in a statement that the agreements, which were not disclosed, are subject to approval by Judge Steven Rhodes, who has overseen the city's bankruptcy that ended on Wednesday. As of Oct. 24, fees and ... (Thu, 11 Dec 2014 12:24:16 -0800)

Bankruptcy judge voids sale of New Jersey casino
A bankruptcy court judge on Friday voided the proposed sale of the former Revel Casino Hotel in Atlantic City to a Canadian firm. Judge Gloria Burns granted a request by Revel Entertainment to cancel the ... (Fri, 12 Dec 2014 08:06:09 -0800)

New Jersey court allows termination of Revel Casino's sale
By Daniel Kelley CAMDEN, N.J. (Reuters) - A bankruptcy court judge approved an unopposed request to terminate the sale of the Revel casino in Atlantic City to Brookfield Asset Management at a hearing on Friday. Brookfield, which had made a $110 million bid for the casino, backed out of the deal because it failed to reach an agreement with bondholders who owned Revel's power plant. The company ... (Fri, 12 Dec 2014 10:52:46 -0800)

Washington-area bankruptcy filings for Dec. 15
These firms recently filed with the U.S. Bankruptcy Court?s local court clerk?s offices. (Sun, 14 Dec 2014 12:15:14 -0800)

Bankruptcy Court Judge Voids Sale of New Jersey Casino, Revel
A bankruptcy court judge on Friday voided the proposed sale of the former Revel Casino Hotel in Atlantic City to a Canadian firm. (Sun, 14 Dec 2014 13:48:41 -0800)

GT Advanced Tech modifies bankruptcy deal with Apple
GT Advanced Technologies Inc modified its bankruptcy settlement with former partner Apple Inc to produce more near-term cash and winning the support of key creditors, a lawyer for the sapphire maker told ... (Mon, 15 Dec 2014 11:39:00 -0800)

GT Advanced Tech Modifies Apple Bankruptcy Deal
GT Advanced Technologies altered its settlement with former partner Apple to produce more near-term cash to support its emergence from bankruptcy, a lawyer for the sapphire maker told a court on Monday. (Mon, 15 Dec 2014 14:20:03 -0800)

3 Reasons Your Bankruptcy Could Keep Dragging On
So you've filed a bankruptcy and just received your discharge notice in the mail. That means your case is over, right? Not so fast. (Tue, 16 Dec 2014 02:30:46 -0800)

Movie-Investing Hedge Fund Declares Bankruptcy
In a Chapter 11 petition, Aramid Entertainment points to legal fees incurred in the collection of movie loans. read more (Tue, 16 Dec 2014 06:47:34 -0800)

Hagens Berman Announces Bankruptcy Court Filing Seeking to Allow Defective Ignition Switch Litigation Against General ...
Hagens Berman Sobol Shapiro LLP, co-lead counsel in nationwide litigation against General Motors Co. related to the deadly ignition switch defect that has caused 42 confirmed death (Tue, 16 Dec 2014 15:04:00 -0800)

Brazil Judge Gives Pescarmona’s WPE Bankruptcy Protection
Industrias Metalurgicas Pescarmona SA, the Argentine wind-turbine maker known as Impsa, has won bankruptcy asset protection for its Brazilian affiliate Wind Power Energia SA or WPE. (Tue, 16 Dec 2014 15:09:57 -0800)

Debtors opting for bankruptcy over insolvency
An increasing number of householders in debt are choosing bankruptcy instead of the new insolvency regime under new, less-restrictive rules in operation since March. (Tue, 16 Dec 2014 18:11:36 -0800)

Broadcasters try to block Aereo asset sale, $90M tax transfer
The TV industry has already shut down Aereo at the Supreme Court and driven it into bankruptcy, but that’s apparently not enough: now CBS, Fox, NBC and other big broadcasters are asking a judge to block ... (Wed, 17 Dec 2014 07:32:34 -0800)

UPDATE 1-GT Advanced Tech modifies bankruptcy deal with Apple
GT Advanced Technologies Inc altered its settlement with former partner Apple Inc to produce more near-term cash to support its emergence from bankruptcy, a lawyer for the sapphire maker told a court on ... (Wed, 17 Dec 2014 10:16:10 -0800)

TV Broadcasters Attempt to Delay Aereo's Sale of Technology
Currently in bankruptcy, Aereo blasts the move as a calculated strategy to continue the bleeding (Wed, 17 Dec 2014 21:00:17 -0800)

Dutch car maker Spyker declares bankruptcy
The cars produced by Dutch carmaker Spyker are displayed on March 2, 2010 during the second press day at the 80th Geneva International Motor Show at Palexpo in Geneva (Thu, 18 Dec 2014 08:19:43 -0800)

Dutch car maker Spyker declares bankruptcy
The cars produced by Dutch carmaker Spyker are displayed on March 2, 2010 during the second press day at the 80th Geneva International Motor Show at Palexpo in Geneva (Thu, 18 Dec 2014 08:19:43 -0800)

Bankruptcy judge approves Nortel bondholder settlement
DOVER, Del. (AP) " A Delaware bankruptcy judge has approved a $1 billion settlement between Nortel Networks Corp.'s U.S. unit and bondholders over opposition from the Canadian parent company.The judge said Thursday that the settlement... (Thu, 18 Dec 2014 17:05:22 -0800)

Exclusive: Creditor to oppose San Bernardino bankruptcy plan favoring Calpers - source
By Tim Reid LOS ANGELES (Reuters) - A major capital markets creditor of bankrupt San Bernardino, California, will oppose any exit plan that is more favorable to Calpers, California's public pension fund, a source familiar with the creditor's strategy said on Thursday. The creditor intends to pursue a new approach when hearings resume next year, in light of a deal the city reached with Calpers in ... (Thu, 18 Dec 2014 17:07:03 -0800)

Northland's Request for Bankruptcy for the Parent Company Has Been Approved
Luxembourg / ACCESSWIRE / December 19, 2014 / Northland Resources SE (together with its subsidiaries "Northland", "NRSE" or the "Company") announces that the Company's request ... (Fri, 19 Dec 2014 06:51:00 -0800)

Former FF councillor loses appeal against extension of bankruptcy term
Three-judge Supreme Court unanimously supports High Court decision (Fri, 19 Dec 2014 11:50:30 -0800)

Former FF councillor loses appeal against bankruptcy extension
Three-judge Supreme Court unanimously supports High Court decision (Fri, 19 Dec 2014 12:35:08 -0800)

Caesars Said to Be Near Signing Bankruptcy Agreement
Caesars Entertainment Corp. (CZR) is close to reaching a final agreement with its most senior creditors today that would put its biggest and most-indebted unit into bankruptcy court next month, according to two people with knowledge of the accord. (Fri, 19 Dec 2014 12:40:10 -0800)

Caesars Advances Toward January Bankruptcy Plan for Biggest Unit
Caesars struck a deal with some of its senior creditors that would put its most-indebted unit into bankruptcy by mid-January, according to a statement today. The Las Vegas-based company must still get more creditors to sign on. (Fri, 19 Dec 2014 15:43:34 -0800)

Denman Creates Confusion For Bankrupt Debtor's Interest In LLC
There has long been a tension in the U.S. Bankruptcy Code between Section 541 ("Property of the estate") and Section 365 ("Executory contracts and unexpired leases"). Section 541 essentially provides that nearly everything the Debtor owns becomes part of the Debtor's Bankruptcy Estate upon the filing of the Bankruptcy Petition. [...] (Fri, 19 Dec 2014 20:26:12 -0800)

Dutch car maker Spyker declares bankruptcy
THE HAGUE - Sports car maker Spyker on Thursday declared bankruptcy, with the small Dutch company that once competed in Formula 1 saying it could not stay afloat after losing a critical legal battle. The founder of the one-time owner of Sweden's Saab vowed that the bankruptcy was not the end for the company which would return with revolutionary electric cars. "Today the District Court of Middle ... (Fri, 19 Dec 2014 22:23:56 -0800)

Tent city sprouts in shadow of downtown Detroit
DETROIT (AP) — Bankruptcy behind it, Detroit's atmosphere swirls with the promise of better days. Charles Floyd Jones can only hope that the city's good fortune trickles down to him and the 10 other residents of a tent city that's sprouted in the shadow of a resurgent downtown where rental occupancy is close to full and restaurants and shops are doing brisk business. (Sun, 21 Dec 2014 08:28:22 -0800)

Bankruptcy Considerations In Asset Protection Planning
IN BANKRUPTCY, ALL BETS ARE OFF (Sun, 21 Dec 2014 11:56:18 -0800)

Tent city sprouts in shadow of downtown Detroit
Bankruptcy behind it, Detroit's atmosphere swirls with the promise of better days. Charles Floyd Jones can only hope that the city's good fortune trickles down to him and the 10 other residents of a tent ... (Mon, 22 Dec 2014 03:55:43 -0800)

Homeless in tent city live on edge of life, outskirts of resurgent downtown Detroit
Bankruptcy behind it, Detroit's atmosphere swirls with the promise of better days. (Mon, 22 Dec 2014 04:07:07 -0800)

California Issuers Risk Higher Costs With Stockton: Muni Credit
Stockton, a city of 298,000 about 80 miles (130 kilometers) east of San Francisco, filed for bankruptcy in June 2012 after the housing market collapsed, retiree health-care costs mounted and tax revenue eroded. (Mon, 22 Dec 2014 06:02:02 -0800)

APNewsBreak: Oil train disaster settlement growing
PORTLAND, Maine (AP) — A proposed settlement fund for victims of a fiery train derailment that claimed 47 lives in Canada is nearly halfway to a goal of $500 million in funding commitments ahead of its filing next month, the defunct railroad's bankruptcy trustee said. (Tue, 23 Dec 2014 09:00:38 -0800)

Bankruptcy Court Approves Royal Financial, Inc.'s Acquisition of PNA Bank
CHICAGO -- Royal Financial, Inc. ("Royal") today announced that the U.S. Bankruptcy Court for the Northern Division of Illinois, Eastern Division, approved a Sale Order for the sale of all of ... (Tue, 23 Dec 2014 13:00:00 -0800)

A small Rhode Island fire district files for bankruptcy
The state-appointed receiver for a small fire district in Central Coventry, Rhode Island, filed a petition to put the district into Chapter 9 municipal bankruptcy protection on Tuesday. The filing was ... (Tue, 23 Dec 2014 16:20:36 -0800)

Caesars Entertainment Corp's Buyout Deal Brings it Closer to Bankruptcy
Caesars Entertainment Corp's Buyout Deal Brings it Closer to Bankruptcy (Wed, 24 Dec 2014 09:01:56 -0800)

Bankruptcy plan OK'd for Community Country Day School
Community Country Day School will start 2015 with the most financial stability it has had in many years. (Thu, 25 Dec 2014 21:30:29 -0800)

10 steps to take before bankruptcy in 2015
If you need to file bankruptcy in 2015, be prepared. Let's make 2015 the year of being proactive about debt problems and bankruptcy. Too often, the decision to file for bankruptcy comes after the garnishment has started or after the bank account has been levied. (Fri, 26 Dec 2014 03:51:20 -0800)

St. John's University School of Law Now Offering Bankruptcy Reorganization CLE Online
QUEENS, N.Y. -- via PRWEB - St. John's University School of Law announced last Monday the delivery of a live and online course from its premier Bankruptcy LL.M. program. This unique course, Business Bankruptcy ... (Fri, 26 Dec 2014 05:02:44 -0800)

Cellphones cut off, Ohio suburb weighs bankruptcy
East Cleveland has long been one of the poorest cities in the state, a model for what urban decay looks like — streets filled with blighted and boarded-up homes and tired commercial districts. And it's ... (Fri, 26 Dec 2014 11:10:51 -0800)

Bankruptcy Judge Says Aereo Can Auction Web TV Technology
Bankruptcy Judge Says Aereo Can Auction Web TV Technology (Fri, 26 Dec 2014 11:30:15 -0800)

Court allows Aereo to auction TV streaming technology assets
(Reuters) - A bankruptcy court has allowed defunct video streaming company Aereo Inc to auction its TV streaming technology assets, according to court papers published on Friday. The U.S. Bankruptcy Court in Manhattan ruled on Wednesday that Aereo could sell its assets, after the company reached an agreement with broadcasters over the sale process. These broadcasters include CBS Corp, Comcast ... (Fri, 26 Dec 2014 14:15:56 -0800)

Aereo auctioning tech assets
A bankruptcy court has allowed defunct video streaming company Aereo Inc to auction its TV streaming technology assets, court papers show. (Fri, 26 Dec 2014 14:48:27 -0800)

El Paso high-tech guru's bankruptcy filing draws businessman's protest
Well-known El Paso entrepreneur Hector Holguin's personal bankruptcy reorganization plan is being challenged in court by an El Paso businessman who's trying to collect an unpaid $177,000 loan he gave to Holguin two years ago. (Fri, 26 Dec 2014 15:50:35 -0800)

Aereo To Sell Off Technology In Bankruptcy Deal
Aereo has reached a deal with broadcasters in U.S. Bankruptcy Court that will allow the former streaming service to auction off its TV technology — as long the the networks be allowed to monitor the process and examine any potential deal. The latest news comes after Aereo filed for voluntary Chapter 11 reorganization last month following t he U.S. Supreme Court's decision in June that Aereo must ... (Fri, 26 Dec 2014 17:29:47 -0800)

Bankruptcy judge: Aereo can sell its TV stream tech—with some caveats
Broadcasters can attend the auction, oppose any sales, and examine customer records. (Sun, 28 Dec 2014 10:23:05 -0800)

Washington-area bankruptcy filings for Dec. 29
These firms recently filed with the U.S. Bankruptcy Court?s local court clerk?s offices. (Sun, 28 Dec 2014 11:48:00 -0800)

Washington-area bankruptcy filings for Dec. 29
These firms recently filed with the U.S. Bankruptcy Court?s local court clerk?s offices. (Sun, 28 Dec 2014 11:48:49 -0800)

Revel Backup Buyer Wants Price Cut by $8.4 Million: Bankruptcy
The back-up bidder for Revel AC Inc., now having the right to buy the shuttered Atlantic City, New Jersey, casino, wants the bankruptcy judge to cut the $95.4 million purchase price by $8.4 million in view of alleged improprieties in the auction process. (Mon, 29 Dec 2014 01:30:09 -0800)

The Wall Street Journal: Judge approves $26 million Revel tax settlement
Judge also allows New Jersey casino to increase bankruptcy financing package. (Tue, 30 Dec 2014 10:11:01 -0800)

Fees, expenses for Detroit bankruptcy hit nearly $178 million
(Reuters) - Detroit's historic bankruptcy, which officially ended earlier this month, cost the city nearly $178 million in fees and expenses for teams of lawyers and consultants, according to a city court filing on Tuesday. Jones Day, Detroit's lead law firm for the biggest-ever municipal bankruptcy which was filed by the city in July 2013, billed the most by far, at $57.9 million. The city ... (Tue, 30 Dec 2014 14:53:27 -0800)

Bankruptcy fees total over $150 million
We now know the total cost of attorneys and consultants in Detroit's historic bankruptcy. (Tue, 30 Dec 2014 15:24:36 -0800)

Detroit paid advisers $170 million in bankruptcy
The tab reflects the significant cost of the most high-profile bankruptcy in the U.S. over the last two years, a process that gave Detroit the authority to slash $7 billion in debt, reinvest $1.7 billion over 10 years in services and save its endangered art museum. (Tue, 30 Dec 2014 23:33:04 -0800)

Bankruptcy Cost Detroit $170M
The bill for lawyers, consultants and other professionals in Detroit's historic bankruptcy is $170 million. (Wed, 31 Dec 2014 05:25:59 -0800)

Costs of Detroit's Bankruptcy Reach About $178 Million
Costs of Detroit's Bankruptcy Reach About $178 Million (Wed, 31 Dec 2014 12:16:10 -0800)

Elrick's big investigations of 2014 ... and what's happening now
Detroit spent much of 2014 in bankruptcy and there are more than enough crazy stories . Here's a look back at some of M.L. Elrick's biggest investigations of the past year with updates. (Wed, 31 Dec 2014 19:04:56 -0800)

Appeal: Pot-derived assets should be protected in bankruptcy
The federal government cannot passively allow a billion-dollar marijuana industry to flourish by not prosecuting certain crimes and then later deny its participants bankruptcy protection, a new court filing says. (Wed, 31 Dec 2014 23:24:25 -0800)


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