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Home > Bankruptcy News

Bankruptcy News Jan 2015

Costs of Detroit’s bankruptcy reach about $178M
Legions of lawyers, consultants and other advisers have been paid nearly $178 million for their work on Detroit’s historic bankruptcy, a number that comes in under budget but still makes it the most expensive municipal restructuring in U.S. history. (Thu, 01 Jan 2015 07:52:18 -0800)

Thousands of Scots 'face bankruptcy'
A report by business advisers BDO predicts 1,000 companies will go bust and 12,000 Scots will be made bankrupt in the coming year. (Thu, 01 Jan 2015 16:21:10 -0800)

Must-know: Caesars Merges And Restructures Amid Bankruptcy Plans
On December 19, 2014, CZR announced a bankruptcy plan that will restructure and reduce CEOC’s debt to $8.6 billion from its current $18.4 billion. (Fri, 02 Jan 2015 07:17:22 -0800)

Gretter Autoland files for bankruptcy
According to court documents filed in United States Bankruptcy Court, Southern District in Iowa, Gretter Autoland in Washington filed for Chapter 11 bankruptcy on Dec. 1, 2014. A hearing has been scheduled for 9 a.m. Jan. 6 in the U.S. Courthouse in Des Moines regarding a motion to dismiss the Chapter 11 case. The Journal attempted to contact Gretter Autoland owner and operator Tom Gretter for ... (Fri, 02 Jan 2015 11:57:36 -0800)

Lehman brokerage trustee, Pimco settle U.S. bankruptcy claims
The trustee liquidating Lehman Brothers Holdings Inc's brokerage unit has agreed with Pacific Investment Management Co unit to resolve $187.4 million of the money management firm's customer claims, likely ... (Fri, 02 Jan 2015 12:15:12 -0800)

Local bankruptcy filings decline
Bankruptcy filings in federal court in Toledo fell 12 percent in 2014, the fifth straight year of declines. (Fri, 02 Jan 2015 21:10:57 -0800)

Want to go bankrupt? That's $120, thanks
People filing for bankruptcy will now have to pay a $120 fee to the Australian Financial Security Authority to do so.         (Sat, 03 Jan 2015 01:57:58 -0800)

New hope and old woes as Detroit exits bankruptcy
After the largest municipal bankruptcy in US history, Detroit hopes outsiders see its potential and not its history of racial conflict, financial crisis and dramatic population loss. The city, founded as a small French fort on the Detroit River that grew to be a hub of the global auto industry, emerged from bankruptcy last month after shedding almost $7 billion of its roughly $18 billion debt. (Sat, 03 Jan 2015 22:03:07 -0800)

Washington-area bankruptcy filings for Jan. 5
These firms recently filed with the U.S. Bankruptcy Court?s local court clerks? offices. (Sun, 04 Jan 2015 12:15:21 -0800)

No family bailout for Craig Bond
Craig Bond's bankruptcy trustee warns family will not pull him out of debt hole. (Sun, 04 Jan 2015 14:17:00 -0800)

Tax exemption an issue in Conneaut Lake Park bankruptcy
More than $927,000 in unpaid real estate taxes largely led Conneaut Lake Park to file for bankruptcy in December. (Sun, 04 Jan 2015 21:40:18 -0800)

Revel Wins Bankruptcy Court Approval to Sell Casino Assets
Revel AC Inc. won bankruptcy court approval to sell its shuttered Atlantic City, New Jersey, casino and resort to the original suitor for $95.4 million, after an earlier sale at a higher price fell apart. (Mon, 05 Jan 2015 11:35:17 -0800)

Sale of Atlantic City's Revel approved despite fight with buyer
By Tom Hals CAMDEN, New Jersey (Reuters) - A U.S. bankruptcy judge approved on Monday the sale of the shuttered Revel Casino Hotel in Atlantic City, New Jersey, to a Florida developer for $95.4 million, a price the buyer said he now doesn't want to pay. Judge Gloria Burns in Camden, New Jersey, approved the sale to Glen Straub but rejected his argument that the price should be cut to $87 million ... (Mon, 05 Jan 2015 12:54:00 -0800)

Bankruptcy fears for Poland’s credit unions
Almost half of Poland’s credit unions are close to bankruptcy, as a collapse in the sector’s financial health strains the country’s banking bailout fund. The industry is a primary source of funds for millions of poor and working-class people, mainly in rural areas and smaller cities. According to Financial Times, of the 55 credit unions...  [Read More...] (Mon, 05 Jan 2015 18:25:01 -0800)

Can bank take my money to pay car loan?
Dear Bankruptcy Adviser, If I file bankruptcy and have a credit card and car financed by the same bank where I have my personal checking account, can I opt to only reaffirm the car loan but not the credit card? Can the bank close my checking account? Can the bank freeze my funds? (Tue, 06 Jan 2015 04:13:13 -0800)

Get Ready: January Usually Means Bankruptcy in Retail
There have been several bankruptcy filings this past December. Delia filed for bankruptcy protection, as did teen retailers Deb Shops, and Mexx. This was surprising. Usually, financially weak companies that do not have the liquidity to go forward without court protection will file for bankruptcy protection just before payments are due on January 10 (this year January 12). These shaky retailers ... (Tue, 06 Jan 2015 04:26:18 -0800)

Icahn still holding to key demands in Trump bankruptcy
Carl Icahn blinked in his showdown with Unite Here Local 54 over the threatened closure of Atlantic City's Trump Taj Mahal last month, but new bankruptcy court documents show that the billionaire investor is holding to key demands. (Tue, 06 Jan 2015 11:00:24 -0800)

Friendly's franchisee J&B files for bankruptcy protection
Friendly's franchisee J&B Restaurant Partners of Long Island II LLC and certain affiliates filed for Chapter 11 bankruptcy protection on Tuesday as part of a pre-negotiated restructuring plan. J&B said ... (Tue, 06 Jan 2015 21:08:06 -0800)

Ex-bank boss fails in bankruptcy bid
Former Anglo Irish Bank chief executive David Drumm can be held liable for debts of 10.5m euros (£823,756) after he failed in his bid to be declared bankrupt, a court in the United States rules. (Wed, 07 Jan 2015 01:48:27 -0800)

Ex-Anglo Irish CEO lied, acted fraudulently in bankruptcy bid - court
DUBLIN (Reuters) - Former Anglo Irish Bank Chief Executive David Drumm lied and acted in a fraudulent manner in a bid to be declared bankrupt in the United States, a Boston court found, dismissing his ... (Wed, 07 Jan 2015 06:52:50 -0800)

Maudore Announces Bankruptcy of its Subsidiary Aurbec Mines Inc.
Maudore Minerals Ltd. announces that as a result of the decision taken not to seek any further extension of its deadline to make a proposal to its creditors pursuant to the Bankruptcy and Insolvency Act ... (Wed, 07 Jan 2015 11:08:01 -0800)

Body Central Said to Prepare for Bankruptcy Within a Week
Body Central Corp. (BODY) , a mall-based clothing retailer, is preparing a bankruptcy filing that could come within the next week, people familiar with the matter said. (Wed, 07 Jan 2015 14:55:09 -0800)

Caesars Creditors Split From Group to Seek in Bankruptcy
A group of Caesars Entertainment Corp. (CZR) ’s senior bondholders is holding out for more money, threatening to make it difficult for the casino owner to obtain enough creditor votes to make its bankruptcy plan a reality. (Wed, 07 Jan 2015 14:57:12 -0800)

David Drumm exposed to actions over debts and lies
Ex-Anglo chief faces possible litigation by creditors after losing bankruptcy bid (Wed, 07 Jan 2015 16:36:04 -0800)

Mall-based apparel retailer Body Central said to prepare for bankruptcy - report
Mall-based apparel retailer Body Central Corp is preparing a bankruptcy filing that could come within the next week, Bloomberg reported, citing people familiar with the matter. The Jacksonville, Florida-based ... (Wed, 07 Jan 2015 17:19:24 -0800)

NM bankruptcy filings drop 11.5 percent last year
Bankruptcy filings in New Mexico dropped for the fourth year in a row in 2014, reaching close to the level... more » (Thu, 08 Jan 2015 13:51:09 -0800)

Retailer Wet Seal could seek bankruptcy protection next week -WSJ
Apparel retailer Wet Seal Inc has hired restructuring lawyers to help it with a potential bankruptcy filing, the Wall Street Journal reported on Thursday, citing people familiar with the matter. The company ... (Fri, 09 Jan 2015 03:36:04 -0800)

Bankruptcy: Caesars Wins Restructuring Support From First-Lien Lenders
Caesars Entertainment Corp. today announced that it has generated enough support for a debt-restructuring plan that would smooth the way for a Chapter 11 bankruptcy at its largest unit, Caesars Entertainment Operating Co. The company said on Friday that more than 60% of first-lien debtholders – the key support level required [...] (Fri, 09 Jan 2015 08:05:29 -0800)

HomeMade Pizza files for bankruptcy months after closing stores
HomeMade Pizza, the Chicago-based chain offering ready-to-bake pizzas, is officially done. (Fri, 09 Jan 2015 08:07:16 -0800)

Caesars Bondholders to Continue Suits After Bankruptcy
Bondholders of Caesars Entertainment Corp. (CZR) will continue their fraud lawsuit against the casino company controlled by Apollo Global Management LLC (APO) even after its operating unit’s planned bankruptcy filing around Jan. 15, they told a judge yesterday. (Fri, 09 Jan 2015 08:39:24 -0800)

Ex-Billionaire Wyly Wins Leave to Sell Wife’s Bookstore
Former billionaire Samuel Wyly won bankruptcy court approval to sell his wife’s bookstore in Aspen, Colorado, and the land it’s on, for $5 million as he seeks cash to repay the Securities and Exchange Commission and other creditors after losing a fraud lawsuit. (Fri, 09 Jan 2015 15:14:31 -0800)

David Drumm may face criminal charges in US
Judge’s finding in bankruptcy trial could be basis for prosecution (Fri, 09 Jan 2015 22:36:02 -0800)

Caesars backed on bankruptcy
Casino operator Caesars Entertainment Corp., owner of Caesars, Bally's, and Harrah's Resort in Atlantic City and Harrah's Philadelphia in Chester, has won the necessary support for a plan to put its biggest unit into bankruptcy as soon as Thursday. (Sun, 11 Jan 2015 00:20:01 -0800)

EXCLUSIVE: Firms made $16M in fees off hospital's bankruptcy
EXCLUSIVE: Based in Bedford-Stuyvesant, Brooklyn, Interfaith has for years had one of the worst emergency room wait times in the state. (Sun, 11 Jan 2015 00:57:38 -0800)

Appaloosa Files to Put Caesars Unit in Involuntary Bankruptcy
Appaloosa Investment LP filed an involuntary bankruptcy petition against the main operating unit of casino company Caesars Entertainment Corp. (CZR) , saying insiders have “plundered” the unit while preparing to put it into Chapter 11. (Mon, 12 Jan 2015 03:33:57 -0800)

Automatic stays in bankruptcy stop debt collection immediately
The automatic stay is the cornerstone of the bankruptcy process. By freezing collection actions it gives the consumer breathing room to figure out what to do next (Mon, 12 Jan 2015 05:00:00 -0800)

Caesars junior creditors file involuntary bankruptcy petition
A group of second-lien bondholders of casino operator Caesars Entertainment Corp filed a petition for involuntary Chapter 11 bankruptcy protection against the company's largest unit after it defaulted ... (Mon, 12 Jan 2015 06:50:11 -0800)

ABI Wants Chapter 11 Easier for Small Companies: Bankruptcy
In our ninth and last discussion of an American Bankruptcy Institute commission’s recommended changes to the U.S. Bankruptcy Code, we look at the panel’s suggestions for making reorganization law more hospitable to companies with less than $50 million in assets or debt. (Mon, 12 Jan 2015 09:24:04 -0800)

Hedge funds push for Caesars bankruptcy, seek examiner
A group of hedge fund creditors of Caesars Entertainment Corp sought on Monday to force its main operating unit into bankruptcy and to appoint an independent examiner to investigate what they allege was ... (Mon, 12 Jan 2015 09:37:08 -0800)

Hedge funds push for Caesars bankruptcy
A group of creditors of Caesars Entertainment allege that the company's finances were plundered. (Mon, 12 Jan 2015 11:44:04 -0800)

Caesars in Temporary ‘Debtor Heaven’ With Involuntary Bankruptcy
Caesars Entertainment Corp.'s Caesars Palace casino stands in Las Vegas, Nevada. Close Caesars Entertainment Corp.'s Caesars Palace casino stands in Las Vegas, Nevada. (Mon, 12 Jan 2015 15:01:39 -0800)

Hedge funds push for Caesars bankruptcy, seek examiner
A group of hedge fund creditors of Caesars Entertainment Corp sought on Monday to force its main operating unit into bankruptcy and to appoint an independent examiner to investigate what they allege was ... (Mon, 12 Jan 2015 19:25:16 -0800)

Apollo’s Bankruptcy Bet on Caesars Needs to Pass Fairness Test
Billionaire Leon Black will have to convince most creditors of Caesars Entertainment Corp. (CZR) that his plan to save the value of his stake in the Las Vegas casino company is fair. (Tue, 13 Jan 2015 04:24:33 -0800)

The Wall Street Journal: Salus Capital offers RadioShack $500 million bankruptcy loan
Loan would increase Salus’s influence if retailer files for bankruptcy. (Tue, 13 Jan 2015 05:41:15 -0800)

Could selling car hurt bankruptcy filing?
Dear Bankruptcy Adviser, I sold my car recently because I really needed the money. I think I got a fair deal on it. Now I want to file my bankruptcy case, but I am afraid that I could get in trouble. I read online that you can't transfer assets before filing bankruptcy. Am I still OK to file? (Tue, 13 Jan 2015 08:14:27 -0800)

Caesars wants legal shield when operating unit seeks bankruptcy
By Tom Hals (Reuters) - Caesars Entertainment Corp will seek to give itself the legal shield of bankruptcy once its operating unit files for Chapter 11 in the coming days, a lawyer for the company's operating unit told a judge on Tuesday. But a lawyer for creditors who are suing Caesars called the plan "extraordinary" because the parent company will ask for the benefits of bankruptcy without ... (Tue, 13 Jan 2015 15:40:02 -0800)

FEGS is seriously considering filing for bankruptcy
A major city nonprofit is seriously considering filing for bankruptcy, weeks after discovering that it is close to $20 million in debt, sources said. (Tue, 13 Jan 2015 16:20:42 -0800)

Creditors seek to put on a hold Caesars' looming bankruptcy
By Tom Hals (Reuters) - Junior creditors of Caesars Entertainment Corp moved on Tuesday to put on hold the expected bankruptcy of the casino company's operating unit, which has said it could file for Chapter 11 as soon as Thursday. On Monday, junior noteholders filed an involuntary bankruptcy against the operating unit in the U.S. Bankruptcy Court in Wilmington, Delaware. The next day they asked ... (Tue, 13 Jan 2015 18:36:22 -0800)

Caesars' unit to file for bankruptcy Thursday in Chicago
Caesars Entertainment Corp's operating unit will file for bankruptcy on Thursday in Chicago to carry out a $10 billion debt-cutting plan, according to a court filing by the largest U.S. casino company. ... (Wed, 14 Jan 2015 10:03:48 -0800)

Markets split on endgame for Caesars' looming bankruptcy
On the eve of Caesars Entertainment Corp's $10 billion debt-cutting bankruptcy, markets are reflecting two competing views of how the casino company's high-stakes plan will play out. One view is reflected in the parent company's stock price, which is up nearly 50 percent since the October lows. Shareholders seem optimistic about Caesars' proposed restructuring plan, which cuts the amount owed to ... (Wed, 14 Jan 2015 16:17:03 -0800)

RadioShack prepares to file for bankruptcy: WSJ
(Reuters) - Electronics retailer RadioShack Corp might prepare to file for bankruptcy protection by next month, the Wall Street Journal reported citing people familiar with the matter. Texas-based Radioshack is in talks with a private-equity firm that could buy its assets out of bankruptcy, the Journal reported, citing sources. The talks may not produce a deal, and RadioShack may opt for other ... (Wed, 14 Jan 2015 17:49:50 -0800)

Bankruptcy on the horizon for RadioShack: Report
Electronics retailer RadioShack may be filing for bankruptcy by next month, according to a Wall Street Journal report. (Thu, 15 Jan 2015 04:04:59 -0800)

Caesars bankruptcy includes 2 AC casinos
The bankruptcy filing Thursday in Chicago by Caesars Entertainment Corp.'s largest unit include Caesars and Bally's on the Atlantic City boardwalk, but not the not include the Harrah's casinos in Chester and Atlantic City. (Thu, 15 Jan 2015 05:46:53 -0800)

RadioShack prepares bankruptcy filing
RadioShack is said to be preparing to file for bankruptcy protection as soon as next month. (Thu, 15 Jan 2015 06:16:06 -0800)

Caesars' operating unit files for bankruptcy, but venue unclear
The operating unit of Caesars Entertainment Corp, the largest U.S. casino company, filed for Chapter 11 bankruptcy on Thursday to implement its plan to cut $10 billion of debt, but faced an immediate challenge over where the case should proceed. The bankruptcy protection was filed by Caesars Entertainment Operating Company Inc (CEOC) and scores of affiliates in the U.S. Bankruptcy Court in ... (Thu, 15 Jan 2015 06:44:12 -0800)

Caesars unit says it filed for bankruptcy to cut debt
A cash-strapped division of casino giant Caesars Entertainment Corp. said early Thursday that it filed for bankruptcy protection in Chicago, hoping the court agrees to its plan to get out from under $18.4 ... (Thu, 15 Jan 2015 06:47:57 -0800)

Report: RadioShack Preps to File for Bankruptcy
Electronics retailer RadioShack Corp (NYSE:RSH) might prepare to file for bankruptcy protection by next month, the Wall Street Journal reported citing people familiar with the matter. (Thu, 15 Jan 2015 07:59:01 -0800)

Delaware judge stays Caesars bankruptcy case
A U.S. Bankruptcy Court judge said on Thursday he would issue a modified stay order that would prevent the operating unit of Caesars Entertainment Corp from moving ahead as planned with its bankruptcy, filed earlier in the day in Chicago. The operating unit's bankruptcy plan is opposed by junior noteholders, a group of large hedge funds, who filed an involuntary bankruptcy against the unit on ... (Thu, 15 Jan 2015 09:38:43 -0800)

Caesars Doubles Down With Bankruptcy Hearings in Two States
Bankruptcy hearings for Caesars Entertainment Corp.’s operating unit are being held today in federal courts in two states, as creditors and the casino company duel over a plan to cut about $10 billion in debt. (Thu, 15 Jan 2015 10:32:40 -0800)

Caesars unit files bankruptcy to cut debt, faces court fight
LAS VEGAS (AP) — A cash-strapped division of casino giant Caesars Entertainment Corp. filed for bankruptcy protection Thursday in Chicago, hoping the court agrees to its plan to get out from under $18.4 billion in debt. (Thu, 15 Jan 2015 15:34:58 -0800)

Wet Seal files for bankruptcy
Wet Seal filed for bankruptcy protection late, a week after the struggling apparel retailer laid off 3,700 employees and closed 338 stores. (Fri, 16 Jan 2015 03:48:51 -0800)

Wet Seal Files for Chapter 11 Bankruptcy Protection
The Wet Seal, Inc. , a specialty retailer to young women, today announced that it has filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware on January 15, 2015. (Fri, 16 Jan 2015 04:00:00 -0800)

Wet Seal Joins Parade of Clothing Retailers Filing Bankruptcy
The Wet Seal Inc. (WTSL) became the latest clothing retailer to seek bankruptcy protection as mall-based stores lose business to big-box chains and online merchants. (Fri, 16 Jan 2015 05:29:04 -0800)

Teen retailer Wet Seal files for bankruptcy protection
The Wet Seal Inc., a teen clothing retailer, has filed for Chapter 11 bankruptcy protection in an effort to keep its remaining stores open. The announcement Friday comes a little over a week after the ... (Fri, 16 Jan 2015 05:44:17 -0800)

Apparel retailer Wet Seal files for Chapter 11 bankruptcy
Wet Seal Inc became the fourth U.S. apparel retailer to file for bankruptcy in two months as the sector struggles with growing competition and lower spending by teen shoppers. Deb Shops filed for bankruptcy on Dec. 4, followed a day after by Delia*s Inc. Mall-based apparel retailer Body Central Corp also shut shop this month. Wet Seal, which sells apparel and accessories for teen girls and young ... (Fri, 16 Jan 2015 07:32:37 -0800)

St. Paul-Minneapolis Archdiocese files for bankruptcy
ST. PAUL, Minn. (AP) — The Roman Catholic Archdiocese of St. Paul and Minneapolis filed for bankruptcy protection on Friday, saying it's the best way for the church to get as many resources as possible to victims of clergy sexual abuse. (Fri, 16 Jan 2015 09:32:12 -0800)

Wet Seal files for bankruptcy in effort to stay afloat
NEW YORK (AP) — The Wet Seal Inc. has filed for Chapter 11 bankruptcy protection in an effort to keep its remaining teen clothing stores open. (Fri, 16 Jan 2015 09:43:44 -0800)

Wet Seal files for bankruptcy in effort to stay afloat
The Wet Seal Inc. has filed for Chapter 11 bankruptcy protection in an effort to keep its remaining teen clothing stores open. The announcement Friday comes a little over a week after the chain said that ... (Fri, 16 Jan 2015 09:43:44 -0800)

Minnesota Archdiocese files for bankruptcy: best way to aid sex abuse victims
The Roman Catholic Archdiocese of St. Paul and Minneapolis filed for bankruptcy protection on Friday, as the archdiocese faces numerous lawsuits by victims of clergy sexual abuse. 'This decision reflects the end of a process of putting victims first,' a top official said. (Fri, 16 Jan 2015 12:34:53 -0800)

St. Paul-Minneapolis Archdiocese files for bankruptcy
ST. PAUL, Minn. (AP) — The Roman Catholic Archdiocese of St. Paul and Minneapolis filed for bankruptcy protection Friday, saying it is the best way to fairly compensate victims of clergy sexual abuse while allowing the archdiocese to continue the church's mission. (Fri, 16 Jan 2015 16:23:04 -0800)

St. Paul-Minneapolis Archdiocese files for bankruptcy in wake of abuse claims
The Roman Catholic Archdiocese of St. Paul and Minneapolis filed for bankruptcy protection Friday, saying it is the best way to fairly compensate victims of clergy sexual abuse while allowing the archdiocese to continue the church's mission. (Fri, 16 Jan 2015 16:52:07 -0800)

St. Paul Archbishop: Bankruptcy will help clergy sex abuse victims
Amy R. Connolly ST. PAUL, Minn., Jan. 17 (UPI) -- The Roman Catholic Archdiocese of St. Paul and Minneapolis filed for bankruptcy protection, saying it will help clergy sex abuse victim. (Sat, 17 Jan 2015 07:09:07 -0800)

Caesar's bankruptcy case venue up in the air
With Caesars Entertainment Operating Co.'s bankruptcy hovering between Chicago and Wilmington, what inferences, if any, can be drawn from the actions so far of U.S. Bankruptcy Judge Kevin Gross in Delaware on the question of where the casino operator reorganizes? (Sun, 18 Jan 2015 00:24:25 -0800)

Church bankruptcy leaves abuse survivors in limbo
Bankruptcy freezes clergy abuse cases, leaving victims to face an uncertain future. (Sun, 18 Jan 2015 20:53:38 -0800)

Wet Seal files for bankruptcy protection
The Wet Seal Inc. has filed for Chapter 11 bankruptcy protection in an effort to keep its remaining teen clothing stores open. (Mon, 19 Jan 2015 07:20:18 -0800)

After bankruptcy filing, Twin Cities Catholics reflect
Two days after the Archdiocese of St. Paul and Minneapolis filed for bankruptcy protection, Twin Cities Catholics attended Sunday Masses, many wondering what happens next. (Mon, 19 Jan 2015 09:06:25 -0800)

Wet Seal Bankruptcy Filing Leaves Experts Wondering Who's Next
NEW YORK (TheStreet) -- News that Wet Seal filed for Chapter 11 bankruptcy protection has left analysts and investors casting a nervous eye on the teen retail sector to see who might be next. They're particularly jittery about retailers with weak balance sheets who waited too long to start shuttering stores in the overcrowded niche. Wet Seal isn't the first and won't be the last to enter the ... (Tue, 20 Jan 2015 08:00:39 -0800)

Life Partners Holdings Files for Chapter 11 Bankruptcy Protection
Life Partners Holdings, Inc. , parent company of Life Partners, Inc., today announced that it has filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Northern District of Texas on January 20, 2015. (Tue, 20 Jan 2015 10:30:00 -0800)

LightSquared creditors to vote on latest bankruptcy exit plan
By Nick Brown NEW YORK (Reuters) - A U.S. bankruptcy judge on Tuesday gave wireless venture LightSquared the go-ahead to let creditors vote on its latest plan to exit bankruptcy, while also urging the company and creditors to seek a less contentious compromise. Judge Shelley Chapman approved the outline of LightSquared's current plan at a hearing in U.S. Bankruptcy Court in New York, but said ... (Tue, 20 Jan 2015 11:15:40 -0800)

Stockton, California, bankruptcy judge denies motion to stall plan
The judge overseeing the bankrupt city of Stockton, California, has denied a motion by a holdout creditor to stall the city's plan to begin paying its debts. U.S. Federal Bankruptcy Court Judge Christopher Klein said on Tuesday the potential harm to other creditors, such as the city's 1,100 retirees, and to the city's ability to attract new business, along with the low likelihood of an appeal's ... (Tue, 20 Jan 2015 13:02:45 -0800)

Will a Bankruptcy Stop Me From Getting Student Loans?
Can bankruptcy keep you from getting a student loan? A reader asks whether her past will make her ineligible to borrow to return to school. (Wed, 21 Jan 2015 04:00:04 -0800)

Will a Bankruptcy Stop Me From Getting Student Loans?
Can bankruptcy keep you from getting a student loan? A reader asks whether her past will make her ineligible to borrow to return to school. (Wed, 21 Jan 2015 11:05:02 -0800)

St. Paul Archdiocese bankruptcy judge orders mediation
Days into the bankruptcy proceedings for the Roman Catholic Archdiocese of St. Paul and Minneapolis, a federal bankruptcy judge has ordered the parties to mediation. (Wed, 21 Jan 2015 12:33:13 -0800)

Kickass Cupcakes stales, files bankruptcy
Another local cupcake company crumbled this week, filing for bankruptcy after closing its Somerville store in August. Kickass Cupcakes filed for Chapter 7 bankruptcy, a proceeding used to liquidate a company’s assets to pay off its debts. The company owes its creditors $263,000, according to court documents filed late Tuesday. Kickass opened in Davis Square in 2007 and had moved to a new ... (Wed, 21 Jan 2015 21:12:54 -0800)

Pair won't say if bankruptcy in Atlantic City future
Two outside emergency managers that New Jersey Gov. Chris Christie tabbed to oversee Atlantic City won't say if a bankruptcy filing is in the city's future. Corporate turnaround specialist Kevin Lavin ... (Thu, 22 Jan 2015 09:38:59 -0800)

Atlantic City bankruptcy possible as Christie names manager
ATLANTIC CITY, N.J. (AP) — In naming an emergency manager for Atlantic City on Thursday, New Jersey Gov. Chris Christie left the door open for the seaside gambling resort to file for bankruptcy if it can't get its finances under control. (Thu, 22 Jan 2015 12:39:53 -0800)

Atlantic City bankruptcy talk 'premature': turnaround team
By Daniel Kelley and Hilary Russ ATLANTIC CITY NJ/NEW YORK (Reuters) - It's "premature" to talk about bankruptcy for troubled gaming resort Atlantic City, Detroit's former turnaround expert said Thursday as he signed on with the latest bid to revive a city some see as bound to follow the path taken by the Motor City. Atlantic City's lifeblood, gaming revenue, has been decimated as newer casinos ... (Thu, 22 Jan 2015 14:59:14 -0800)

Starcore Acquires Creston Moly from Bankruptcy Trustee
Starcore International Mines Ltd. announces that it has entered into an agreement to acquire all of the shares of Creston Moly Corp. from Deloitte Restructuring Inc, in its capacity as trustee... (Fri, 23 Jan 2015 05:00:00 -0800)

Icahn Acquisition of Trump Casinos Delayed Two Weeks: Bankruptcy
Carl Icahn was delayed about two weeks in his quest to expand his gambling holdings in Atlantic City, New Jersey, by purchasing two casinos owned by bankrupt Trump Entertainment Resorts Inc. (Fri, 23 Jan 2015 05:24:40 -0800)

In-flight catalog SkyMall files for bankruptcy
Parent company Xhibit, other affiliates seeking bankruptcy-court supervised sale of assets. (Fri, 23 Jan 2015 07:08:30 -0800)

SkyMall Files for Bankruptcy
Time to raise a giant, novelty wine glass to the demise of the inflight retail catalog (Fri, 23 Jan 2015 09:23:41 -0800)

No more USB cufflinks?! Skymall declares bankruptcy.
SkyMall, has filed for bankruptcy, according to a court filing on Friday. once the sole catalog provider for airline passengers, Skymall has faced increased competition from e-commerce providers, such as Amazon and eBay. (Fri, 23 Jan 2015 10:18:26 -0800)

SkyMall files for Chapter 11 bankruptcy, hoping to find buyer
SkyMall, the Phoenix, Arizona-based catalog which most of have perused while bored on flights when our novels grew stale since it launched in 1989, has filed for Chapter 11 bankruptcy protection, The Wall Street Journal reports. (Fri, 23 Jan 2015 10:41:45 -0800)

SkyMall Lands in Bankruptcy as Air Travelers Shun Catalog
SkyMall LLC, the in-flight catalog company that sells exercise bikes that double as desks and automated ball-launchers for dogs, filed for bankruptcy as air travelers spend more time on their mobile phones and Amazon.com. Phoenix-based SkyMall, which suspended its catalog and fired 47 employees from its call centers Jan. 16, said in a court filing that it hopes to keep up barebones operations ... (Fri, 23 Jan 2015 11:03:29 -0800)

SkyMall declares bankruptcy. Farewell, USB cuff links.
SkyMall, has filed for bankruptcy, according to a court filing on Friday. once the sole catalog provider for airline passengers, SkyMall has faced increased competition from e-commerce providers, such as Amazon and eBay. (Fri, 23 Jan 2015 11:48:27 -0800)

Caesars Bankruptcy Venue Decision Near
Bankruptcy decision near for troubled division of casino giant Caesars Entertainment (Fri, 23 Jan 2015 12:51:36 -0800)

SkyMall files for bankruptcy. Farewell, USB cuff links.
SkyMall, has filed for bankruptcy, according to a court filing on Friday. once the sole catalog provider for airline passengers, SkyMall has faced increased competition from e-commerce providers, such as Amazon and eBay. (Fri, 23 Jan 2015 13:18:07 -0800)

Caesars bankruptcy venue decision near
Delaware or Chicago: Troubled casino giant Caesars Entertainment Corp. should find out early next week where a subsidiary's Chapter 11 bankruptcy case will be decided. Caesars prefers Chicago, where its ... (Fri, 23 Jan 2015 14:54:29 -0800)

SkyMall Files for Bankruptcy
The Wall Street Journal. The company behind the in-flight catalog SkyMall filed for bankruptcy protection, a victim of evolving rules and technology that now lets airline passengers keep their smartphones and tablets powered up during flight. (Fri, 23 Jan 2015 18:01:15 -0800)

Impsa’s Brazil Bankruptcy Said to Delay $2 Billion Wind Parks
The bankruptcy of a turbine maker in Brazil is threatening to derail 5 billion reais ($2 billion) of wind parks being built by a unit of state-run power utility Eletrobras, said three people with direct knowledge of the matter. (Fri, 23 Jan 2015 20:33:42 -0800)

SkyMall Lands in Bankruptcy as Air Travelers Shun Catalog
Source: SkyMall Ventures, Inc. The iFetch Ball Launcher for Dogs. Close The iFetch Ball Launcher for Dogs. Source: SkyMall Ventures, Inc. The iFetch Ball Launcher for Dogs. (Sat, 24 Jan 2015 01:28:46 -0800)

Why Bankruptcy Isn't a "Get Out of Debt Free" Card
Why Bankruptcy Isn't a "Get Out of Debt Free" Card (Sun, 25 Jan 2015 06:34:03 -0800)

Washington-area bankruptcy filings for Jan. 20
These firms recently filed with the U.S. Bankruptcy Court?s local court clerks? offices. (Sun, 25 Jan 2015 09:24:16 -0800)

Bankruptcy case brings financial fears for Catholic schools
Institutions hope troubles of archdiocese don’t affect them (Sun, 25 Jan 2015 20:00:47 -0800)

Caesars bankruptcy venue decision near
LAS VEGAS - Wilmington or Chicago: Troubled casino giant Caesars Entertainment Corp. should find out early next week where a subsidiary's Chapter 11 bankruptcy case will be decided. (Mon, 26 Jan 2015 00:34:39 -0800)

First Skirmish in Caesars Bankruptcy Campaign? Where to Fight
Caesars Entertainment Operating Co. is to open its $20 billion bankruptcy fight Monday, pitting creditors against the gambling company’s controlling shareholders, Leon Black’s Apollo Global Management and David Bonderman’s TPG Capital. (Mon, 26 Jan 2015 02:26:16 -0800)

Caesars, creditors start unusual trial to pick bankruptcy court
The operating unit of Caesars Entertainment Corp begins an unusual two-day trial on Monday to decide which of two bankruptcy courts will review its $10 billion debt-cutting plan. Caesars Entertainment Operating Co Inc, which runs 38 casinos, finds itself in the rare situation of being in two bankruptcies in two different courts at the same time. A group of hedge fund creditors tried to force the ... (Mon, 26 Jan 2015 04:00:00 -0800)

Attorneys battle over venue for Caesars bankruptcy case
A court battle is underway over whether the bankruptcy case of casino giant Caesars Entertainment Corp. should proceed in Delaware or in Illinois. Monday's hearing in Wilmington, Delaware, pits Caesars ... (Mon, 26 Jan 2015 10:15:59 -0800)

Court battle begins in dispute over bankruptcy venue for casino giant Caesars Entertainment
A court battle over whether the bankruptcy case of casino giant Caesars Entertainment Corp. should proceed in Delaware or in Illinois was postponed Monday because of a snowstorm bearing down on the East Coast. The judge presiding over Monday's hearing in Wilmington, Delaware, said he was concerned about the safety of attorneys, many of whom live and work in New York, where forecasters were ... (Mon, 26 Jan 2015 13:03:49 -0800)

Caesars makes its pitch for Chicago as bankruptcy venue
The casino operating unit of Caesars Entertainment Corp should be allowed to choose where to file for bankruptcy even if it misbehaved, the company's lawyers argued on Monday as its Chapter 11 case unfolded in two courts. Creditors of Caesars' operating unit want a U.S. Bankruptcy judge to move its Chapter 11 case from Chicago to Delaware, where the creditors have tried to push the company into ... (Mon, 26 Jan 2015 13:41:58 -0800)

SkyMall's bankruptcy had less to do with its absurd catalog than you think
On the surface, the bankruptcy of SkyMall seems to be easily explained and none too surprising. (Mon, 26 Jan 2015 15:55:29 -0800)

Judge to rule Wednesday if Caesars' bankruptcy stays in Chicago
The operating unit of Caesars Entertainment Corp will learn Wednesday whether its bankruptcy will proceed in Chicago, where the casino company filed for Chapter 11 this month, or in Delaware, a U.S. bankruptcy judge in Delaware said on Tuesday. Allowing the case to proceed in Chicago would be a victory for Caesars private equity backers, Apollo Global Management and TPG Capital. A group of hedge ... (Tue, 27 Jan 2015 12:27:33 -0800)

Ex-Detroit manager: Bankruptcy only start of city's recovery
The city's successful exit from the largest municipal bankruptcy in U.S. history doesn't mean Detroit's troubles are over, its former fiscal overseer told area business leaders Tuesday. Mayor Mike Duggan ... (Tue, 27 Jan 2015 14:32:44 -0800)

Japan's Skymark Airlines files for bankruptcy: statement
Japan's Skymark Airlines filed for bankruptcy protection Wednesday, as the struggling carrier faces potentially massive penalties over a cancelled $2.2 billion jet order with Airbus. The filing came less than a month after Japan's third-biggest airline said the European aircraft maker was planning to sue it over the collapsed deal. "The company came to the conclusion that it will be extremely ... (Wed, 28 Jan 2015 07:11:09 -0800)

Judge says Caesars' bankruptcy to proceed in Chicago
A U.S. bankruptcy judge said on Wednesday he would not transfer the bankruptcy filing of Caesars Entertainment Corp's operating unit to Delaware from Chicago, a victory for the company's private equity backers. Hedge funds creditors wanted the casino company's $10 billion debt-cutting plan reviewed under the legal standards of the Delaware court. They feared the standards of the Chicago court ... (Wed, 28 Jan 2015 08:35:50 -0800)

Judge says Caesars bankruptcy case will be held in Illinois
WILMINGTON, Del. (AP) — A federal judge in Delaware ruled Wednesday that the Chapter 11 case of casino giant Caesars Entertainment Corp. will proceed in Illinois, denying a motion by several creditor groups who wanted the case heard in Delaware. (Wed, 28 Jan 2015 09:06:17 -0800)

Judge says Caesars bankruptcy case will be held in Illinois
A federal judge in Delaware ruled Wednesday that the Chapter 11 case of casino giant Caesars Entertainment Corp. will proceed in Illinois, denying a motion by several creditor groups who wanted the case ... (Wed, 28 Jan 2015 09:06:19 -0800)

Judge rules Illinois as venue for bankruptcy case of casino giant Caesars Entertainment
WILMINGTON, Del. - A federal judge in Delaware ruled Wednesday that the Chapter 11 case of casino giant Caesars Entertainment Corp. will proceed in Illinois, denying a motion by several creditor groups ... (Wed, 28 Jan 2015 10:23:28 -0800)

Bankruptcy judge approves financing for Trump Entertainment
WILMINGTON, Del. (AP) — A federal judge in Delaware approved $20 million in new bankruptcy financing Wednesday for Trump Entertainment Resorts from billionaire investor Carl Icahn as the company continues to work to keep the struggling Taj Mahal casino in Atlantic City, New Jersey, open. (Wed, 28 Jan 2015 13:36:51 -0800)

Charges laid in bankruptcy fraud investigation
TORONTO , Jan. 29, 2015 /CNW/ - The Integrated Bankruptcy Enforcement Unit comprised of the Royal Canadian Mounted Police (RCMP) – GTA Financial Crime Section and the Ontario Region Special Investigation ... (Thu, 29 Jan 2015 06:00:00 -0800)

Sweeney: Christie wants A.C. to declare bankruptcy
TRENTON - New Jersey Senate President Stephen Sweeney accused Gov. Christie on Thursday of trying to "force" Atlantic City into bankruptcy, and said he would sue to block such a move. (Thu, 29 Jan 2015 16:47:28 -0800)

Japan’s Skymark files for bankruptcy
The low-cost carrier had liabilities of 71.09 billion yen ($603.6 million) as of its bankruptcy filing with the Tokyo District Court, it said in a statement via the Tokyo Stock Exchange after an emergency board meeting. Chief Executive Officer Shinichi Nishikubo resigned and was replaced by board member Masakazu Arimori, said the company, which will delist on March 1. (Fri, 30 Jan 2015 08:35:18 -0800)

Selangor records most bankruptcy cases for 2014, says minister – Bernama
Selangor recorded the highest number of bankruptcy cases last year, a total of 6,668 from 22,305 registered nationwide, Minister in the Prime Minister's Department Nancy Shukri said. Nancy said Kuala Lumpur recorded 3,279 cases followed by Johor Bahru (2,699 cases), Penang (1,579 cases) and Kedah (1,076 cases). Based on data from the... (Sat, 31 Jan 2015 01:06:33 -0800)

Bankruptcy case in Austin has ties to Texas technology fund
AUSTIN, Texas (AP) — On the same day that Gov. Greg Abbott declared that taxpayers should stop investing in technology startups, a bankruptcy proceeding in an Austin courtroom was Exhibit A about the perils of investing public money in entrepreneurship. The cast of characters in this tale, as told in court documents and testimony, includes a company CEO convicted on child pornography charges, a ... (Sat, 31 Jan 2015 10:44:27 -0800)

Lindemuth bankruptcy plan approved; lenders to be paid
A bankruptcy court approved Topeka developer Kent Lindemuth's plan to restructure his ailing real estate empire, but work remains before his businesses return to financial health. (Sat, 31 Jan 2015 13:51:59 -0800)


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