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Home > Bankruptcy News

Bankruptcy News Mar 2015

Washington-area bankruptcy filings for March 2
These firms recently filed with the U.S. Bankruptcy Court?s local court clerks? offices. (Sun, 01 Mar 2015 10:47:40 -0800)

How Avoiding Bankruptcy Can Backfire
Bankruptcy definitely carries a stigma, but a new report by the Federal Reserve Bank shows that maybe bankruptcy isn't the end of the world for a consumer. (Mon, 02 Mar 2015 03:30:13 -0800)

Burton criticises banks for pulling out of deals on mortgages
Tánaiste says reducing bankruptcy periods may send message to institutions ‘playing games’ with customers in difficulty (Mon, 02 Mar 2015 03:37:18 -0800)

NYC rent-stabilized leases off-limits in bankruptcy: court
A U.S. appeals court ruled on Monday that an elderly Manhattan woman's rent-stabilized lease could not be seized and sold to satisfy her creditors after she filed for bankruptcy, a decision that could affect more than 2 million New Yorkers. The 2nd U.S. Circuit Court of Appeals said Mary Santiago-Monteverde's lease, which she has had for more than four decades, qualified as a "local public ... (Mon, 02 Mar 2015 08:38:09 -0800)

After Bankruptcy, Lehman Pays $44 Million in Bonuses
After Bankruptcy, Lehman Pays $44 Million in Bonuses (Mon, 02 Mar 2015 11:14:17 -0800)

Spanish property developer Martinsa files for bankruptcy
Spanish property developer Martinsa Fadesa said Monday it would file for liquidation bankruptcy in one of the country's biggest insolvencies, which comes as the sector shows signs of recovery from a 2008 real estate collapse. Martinsa Fadesa, a builder of homes, malls and golf courses which is active mainly in Europe, said Friday it holds assets worth 2.4 billion euros ($2.7 billion) to meet ... (Mon, 02 Mar 2015 16:10:14 -0800)

Joan Burton: ‘Arrears deals must be made’
Bankruptcy periods could be cut back to 12 months in order to put pressure on lenders to cut deals on distressed mortgages, Tánaiste Joan Burton has signalled. (Mon, 02 Mar 2015 18:31:50 -0800)

NYC Landlords Can't Touch Rent-Controlled Flats
Combined, the decisions remove the threat that people who file for bankruptcy in New York will be evicted from valuable apartments even though they’re current on the rent. Some New York housing stock is covered by rent-control and rent-stabilization laws dating from World War II. Regulated rents allow thousands of renters to pay sometimes much less than market rates while enjoying protections ... (Mon, 02 Mar 2015 21:00:22 -0800)

Bankruptcy filings flat in February
Bankruptcy filings in northwest Ohio were flat essentially in February compared with the same month a year ago. (Mon, 02 Mar 2015 22:54:10 -0800)

JPMorgan Will Pay $50M in Homeowner Bankruptcy Settlement
Justice Department says JPMorgan will pay $50M to homeowners for bankruptcy notice failings (Tue, 03 Mar 2015 09:00:00 -0800)

Caesars' operating unit files bankruptcy exit plan
The operating unit of casino company Caesars Entertainment Corp unveiled its plan to cut $10 billion of debt and to exit Chapter 11 in a late Monday filing with a U.S. Bankruptcy Court. The plan formalized a proposal negotiated with senior creditors prior to the casino operator's January bankruptcy filing. It must be approved by U.S. Bankruptcy Judge Benjamin Goldgar in Chicago and creditors, a ... (Tue, 03 Mar 2015 09:20:52 -0800)

Caesars' operating unit files bankruptcy exit plan
The operating unit of casino company Caesars Entertainment Corp unveiled its plan to cut $10 billion of debt and to exit Chapter 11 in a late Monday filing with a U.S. Bankruptcy Court. The plan formalized a proposal negotiated with senior creditors prior to the casino operator's January bankruptcy filing. Under the proposed plan, the bankrupt unit would be split into an operating company that ... (Tue, 03 Mar 2015 14:47:15 -0800)

TiVo Eyes Future After Buying Aereo.com for $1 Million
As TiVo scores access to the names of about 100,000 former Aereo customers, a bankruptcy plan is made to wind down Aereo's business and settle claims by TV broadcasters. (Wed, 04 Mar 2015 09:57:03 -0800)

Bankruptcy judge okays disputed bonus plan for RadioShack execs
The judge overseeing RadioShack Corp's Chapter 11 bankruptcy case on Wednesday approved a revised $1.5 million bonus plan for eight top executives at the electronics retailer, over the objection of the U.S. Trustee in the case. U.S. Bankruptcy Judge Brendan Shannon said that while he shared some of the trustee's concerns over the key executive incentive plan, or KEIP, he was convinced the ... (Wed, 04 Mar 2015 14:13:52 -0800)

Boosting credit after a discharged bankruptcy
A Chapter 7 bankruptcy will stay on your credit years after discharge, but if you make payments on time and use credit wisely, your score will start to increase (Thu, 05 Mar 2015 04:30:00 -0800)

Judge dismisses nine claims brought by sex abuse survivors in Milwaukee bankruptcy case
The judge in the Milwaukee archdiocese bankruptcy case on Wednesday dismissed nine claims brought by sexual abuse survivors, a move that a church spokesman said could affect many of the more than 570 claims filed against the archdiocese. (Thu, 05 Mar 2015 10:25:07 -0800)

JPMorgan to Settle Robo-Signing Charges for $50 Million - Analyst Blog
JPMorgan agreed to settle allegations by the DOJ, related to mishandling of bankruptcy filings of more than 25,000 homeowners, by paying $50 million. (Thu, 05 Mar 2015 12:40:08 -0800)

Bankruptcy, Receivership: the Fundamental Differences
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LightSquared preps for tough trial on latest bankruptcy plan
By Nick Brown NEW YORK (Reuters) - LightSquared gained momentum this week in its effort to end its three-year bankruptcy after a judge dealt a blow to its main creditor and adversary, Charles Ergen, ahead of a week-long trial on its latest debt restructuring plan. LightSquared, the would-be wireless provider owned by Phil Falcone's Harbinger Capital Partners hedge fund, on Monday will begin ... (Fri, 06 Mar 2015 04:05:55 -0800)

Former Department of Energy official named CEO of Centrus Energy
Daniel Poneman will take the helm later this month. The company emerged from bankruptcy last year. (Fri, 06 Mar 2015 08:17:23 -0800)

Caesars seeks to demolish part of former Harrah's in Tunica
A division of Caesars Entertainment Corp. is asking a federal bankruptcy judge for permission to "dismantle and liquidate" part of its shuttered Harrah's casino complex in Mississippi's Tunica ... (Fri, 06 Mar 2015 15:08:20 -0800)

RadioShack creditors bankruptcy doesn't add up
Did the electronics chain stall for time to keep hedge fund lenders on the winning side of a risky bet? (Sun, 08 Mar 2015 01:04:35 -0800)

Detroit bankruptcy judge rules on fees
Bankruptcy Judge Steven Rhodes has made the final ruling on bills for the largest municipal bankruptcy in US history. (Sun, 08 Mar 2015 03:04:21 -0700)

Bankruptcy court to weigh Reveal sale, but loopholes exist
A bankruptcy court judge will consider — yet again — the proposed sale of Atlantic City's former Revel Casino hotel to a Florida developer. But the $82 million deal has loopholes that could let the owner, ... (Sun, 08 Mar 2015 07:13:47 -0700)

Bankruptcy court to weigh Revel sale, but loopholes exist
A bankruptcy court judge will consider — yet again — the proposed sale of Atlantic City's former Revel Casino hotel to a Florida developer. But the $82 million deal has loopholes that could let the owner, ... (Sun, 08 Mar 2015 09:46:33 -0700)

Caesars seeks bankruptcy court approval
A division of Caesars Entertainment Corp. is asking a federal bankruptcy judge for permission to "dismantle and liquidate" part of its shuttered Harrah's casino complex in Mississippi's Tunica County. (Sun, 08 Mar 2015 10:15:57 -0700)

How Avoiding Bankruptcy Can Backfire
Bankruptcy definitely carries a stigma, but a new report by the Federal Reserve Bank shows that maybe bankruptcy isn't the end of the world for a consumer. (Sun, 08 Mar 2015 10:19:50 -0700)

Freedom bankruptcy case at crossroads
By Ken Ward Jr. With available funds dwindling and millions in claims pending over the January 2014 Elk River chemical leak, the Freedom Industries bankruptcy case appears to be at a crossroads. No clear plan for resolving the case is in sight, prompting U.S. Bankruptcy Judge Ronald Pearson to schedule a "status conference" early next month to ask various interested parties for options. Pearson ... (Sun, 08 Mar 2015 10:35:56 -0700)

Washington-area bankruptcy filings for March 9
These firms recently filed with the U.S. Bankruptcy Court?s local court clerks? offices. (Sun, 08 Mar 2015 10:41:27 -0700)

Answers remains elusive in Freedom Industries bankruptcy case
By Ken Ward Jr. Officials overseeing the Freedom Industries bankruptcy on Tuesday touted progress on cleanup of the company's Elk River facility, but acknowledged that answers to other pressing issues that have stalled the resolution of the case remain elusive. Still unclear are crucial decisions regarding how or when Freedom might obtain an insurance payment of more than $3 million for the ... (Sun, 08 Mar 2015 13:49:40 -0700)

RadioShack gets interim bankruptcy loan
RadioShack got court approval to borrow $10 million to support its operations until it opens the bidding this month for its best-performing stores. (Sun, 08 Mar 2015 17:30:24 -0700)

Consumers look for exceptions to GM's bankruptcy law protection in 2-day federal hearing
A federal bankruptcy judge this week heard arguments from consumers who are suing General Motors, saying their cars dropped in value because of a defect with its ignition switches. (Mon, 09 Mar 2015 04:05:02 -0700)

America's largest Christian bookstore chain files for bankruptcy
America's biggest Christian bookstore chain, Family Christian Stores, has filed for Chapter 11 bankruptcy protection. The Michigan company says it won't lay off any employees or close any of its stores, however. (Mon, 09 Mar 2015 04:26:51 -0700)

'Partridge Family's' David Cassidy files for bankruptcy after divorce, rehab
David Cassidy of "The Partridge Family" fame has filed for Chapter 11 bankruptcy protection in Florida. (Mon, 09 Mar 2015 08:23:37 -0700)

America's largest Christian bookstore chain files for bankruptcy
America's biggest Christian bookstore chain, Family Christian Stores, has filed for Chapter 11 bankruptcy protection. The Michigan company says it won't lay off any employees or close any of its stores, however. (Mon, 09 Mar 2015 12:38:52 -0700)

BPZ Resources files for Chapter 11 bankruptcy protection
Oil and natural gas exploration BPZ Resources is filing for Chapter 11 bankruptcy protection, citing the plunge in oil prices and its inability to find financing. The Houston company said Monday it wants ... (Mon, 09 Mar 2015 16:20:17 -0700)

'Partridge Family's' David Cassidy files for bankruptcy after divorce, rehab
David Cassidy of "The Partridge Family" fame has filed for Chapter 11 bankruptcy protection in Florida. (Tue, 10 Mar 2015 03:01:03 -0700)

Include my biz in personal bankruptcy?
Dear Bankruptcy Adviser, I want to file Chapter 7 bankruptcy for all my personal debts. Do I have to get my catering business involved? It is a small home-based business and isn't very profitable. I don't even pay myself. If I do have to involve the business, what would happen? (Tue, 10 Mar 2015 05:30:06 -0700)

Suit: Firm in nail-gun suicide wrongly collected before creditors
The bankruptcy trustee overseeing the liquidation of a Greenwood Village firm whose executive committed suicide by nail gun says a Texas insurance company he was stealing from unfairly gained from the man's death by ensuring its bills were paid long before other creditors. (Tue, 10 Mar 2015 13:22:39 -0700)

5 Things to Know About Bankruptcy and Student Loans
The White House is considering whether to make it easier for Americans to get rid of their student loans through bankruptcy, a major change that would effectively open the door for student debt being treated on par with credit-card debt and mortgages. #1: Why is the White House considering making changes? Federal law prohibits student loans—whether made by private lenders or the federal ... (Tue, 10 Mar 2015 15:19:00 -0700)

Dorsey Partner Annette Jarvis Named to American College of Bankruptcy Board of Directors
International law firm Dorsey & Whitney LLP announced today that Annette Jarvis, a partner in the Firm’s Bankruptcy and Financial Restructuring Group and a member of the Firm’s Management Committee, has been named to the American College of Bankruptcy Board of Directors. (Wed, 11 Mar 2015 07:27:00 -0700)

RadioShack's Bankruptcy: A Golden Opportunity For Amazon?
On February 6, the once-resilient consumer electronics retailer, RadioShack, filed for bankruptcy protection after 94 years in business. The move itself was not surprising, as the retailer hadn't been profitable since 2011. But what took everyone by surprise was that RadioShack had been able to withstand the vagaries of an [...] (Wed, 11 Mar 2015 08:40:48 -0700)

RadioShack's Bankruptcy: A Golden Opportunity For Amazon?
On February 6, the once-resilient consumer electronics retailer, RadioShack, filed for bankruptcy protection after 94 years in business. The move itself was not surprising, as the retailer hadn't been profitable since 2011. But what took everyone by surprise was that RadioShack had been able to withstand the vagaries of an ever-changing retail industry for as long as it did. (Wed, 11 Mar 2015 09:01:40 -0700)

Malibu Golf Club closes, owner files for Chapter 11 bankruptcy
Malibu Associates, owner of the Malibu Golf Club, has filed for Chapter 11 bankruptcy court protection. (Wed, 11 Mar 2015 14:13:55 -0700)

Doral Financial files for Chapter 11 bankruptcy
(Reuters) - Doral Financial Corp filed for voluntary Chapter 11 bankruptcy protection on Wednesday, saying it intends to wind down its businesses, liquidate its assets, and seek approval for a liquidation plan. (Wed, 11 Mar 2015 20:50:00 -0700)

Parent of Puerto Rico's Doral Bank to liquidate in Chapter 11
Doral Financial Corp filed for Chapter 11 bankruptcy protection on Wednesday to wind down its remaining operations two weeks after its Puerto Rico-based bank subsidiary was seized by regulators. Doral Financial's bankruptcy is the latest reminder of the financial crisis on the island, a U.S. commonwealth, which has been mired for years in an economic slump. The seizure of the company's bank was ... (Thu, 12 Mar 2015 08:38:29 -0700)

Standard Register seeks bankruptcy sale to Silver Point
Standard Register Co filed for Chapter 11 bankruptcy on Thursday and the printing and marketing company said it plans to sell its business to Silver Point Capital for $275 million. Standard Register said the bankruptcy process will cut its unsustainable obligations and position the business for long-term growth. Standard Register has about $316 million of secured debt, according to documents ... (Thu, 12 Mar 2015 09:36:43 -0700)

Auto supplier Chassix to hand keys to bondholders in bankruptcy
By Nick Brown NEW YORK (Reuters) - Auto parts maker Chassix Holdings Inc filed for bankruptcy on Thursday with a prearranged plan to transfer ownership to bondholders after failing to keep up with a boom in demand for auto supplies. Tom Gores' Platinum Equity Advisers, Chassix's current equity owner, signed onto the proposal to cut company debt by 68 percent, from $680 million to $217 million ... (Thu, 12 Mar 2015 12:19:45 -0700)

Bankruptcy judge to rule Friday on $82M Revel casino sale
A bankruptcy judge will rule Friday on the proposed sale of Atlantic City's former Revel casino to a Florida developer for $82 million. Judge Gloria Burns said Thursday that she will rule on the purchase ... (Thu, 12 Mar 2015 13:09:34 -0700)

Bankruptcy judge to rule Friday on $82M Revel casino sale
A bankruptcy judge will rule Friday on the proposed sale of Atlantic City's former Revel casino to a Florida developer for $82 million. (Thu, 12 Mar 2015 13:32:12 -0700)

Judge orders examiner in Caesars' affiliate bankruptcy
A U.S. bankruptcy judge on Thursday ordered an independent examiner to investigate transactions by the operating unit of Caesars Entertainment Corp, which filed for Chapter 11 this year. Creditors have alleged that the operating unit is unable to pay its debts because the parent company looted it for the benefit of its controlling private equity backers, Apollo Global Management and TPG Capital ... (Thu, 12 Mar 2015 14:34:01 -0700)

Bankruptcy trustee wants $1.3 million dead CEO's family allegedly enjoyed
The trustee overseeing American Title Services' bankruptcy alleges in a new lawsuit that the widow of its dead CEO, who committed suicide by nail gun, was complicit in a long-running embezzlement that netted their family more than $1.3 million. (Thu, 12 Mar 2015 16:31:49 -0700)

Bankruptcy trustee wants $1.3M dead CEO's family allegedly enjoyed
The trustee overseeing American Title Services' bankruptcy alleges in a new lawsuit that the widow of its dead CEO, who committed suicide by nail gun, was complicit in a long-running (Thu, 12 Mar 2015 19:23:15 -0700)

Trump Taj Mahal survives bankruptcy by joining Icahn empire
Trump Entertainment Resorts Inc.'s Taj Mahal in Atlantic City will survive as part of billionaire Carl Icahn's empire under a bankruptcy restructuring plan approved by a federal judge Thursday. (Fri, 13 Mar 2015 03:04:04 -0700)

TiVo gets bankruptcy court approval to buy some Aereo assets
TiVo said Friday that it has received bankruptcy court approval to buy some assets of Aereo, an online startup that offered a cheaper alternative to cable TV. Financial terms were not disclosed. Aereo ... (Fri, 13 Mar 2015 07:30:56 -0700)

Revel bankruptcy judge passes on sale to Glenn Straub
The bankruptcy case of Atlantic City's Revel Casino Hotel hit another pothole Friday when U.S. Bankruptcy Judge Gloria M. Burns declined to approve the sale of Revel to Florida developer Glenn Straub for $82 million. (Fri, 13 Mar 2015 09:36:11 -0700)

Atlantic City's Revel Casino fails again to get a deal
Revel Casino's hard luck continues after a U.S. Bankruptcy Court judge rejected its agreement for a sale to a Florida developer for $82 million, marking the third failed deal for the shuttered hotel in New Jersey's struggling seaside resort of Atlantic City. Judge Gloria Burns in Camden, New Jersey, said she could not approve the sale because it would interfere with an appeal being pursued by ... (Fri, 13 Mar 2015 10:12:36 -0700)

Banco Madrid files for bankruptcy as money laundering scandal swirls
Small Spanish bank Banco Madrid has filed for bankruptcy after the United States accused its Andorran parent of laundering money for organised crime groups. Customers of Banco Madrid, which caters for wealthy people, rushed to empty their accounts after parent group, Andorran lender Banca Privada d'Andorra (BPA), was described by the U.S. Department of the Treasury as an "easy vehicle" for ... (Mon, 16 Mar 2015 04:04:27 -0700)

Versa wins auction bid for troubled retailer Wet Seal
NEW YORK (AP) — Versa Capital Management said that it is the winning bidder in the auction of troubled teen clothing retailer Wet Seal, which filed for Chapter 11 bankruptcy two months ago. (Mon, 16 Mar 2015 06:37:14 -0700)

Senate bill would waive student loans in bankruptcy
Student loans have long been exempt from the protections offered by bankruptcy, but a new Senate bill would change that. The move come as the White House and lawmakers are working on multiple fronts to attack what is being called a student-debt crisis.  (Mon, 16 Mar 2015 09:20:49 -0700)

World Bitcoin Association Files for Bankruptcy in New York
(Bloomberg) -- The World Bitcoin Association sought bankruptcy protection in Manhattan. The organization listed less than $300,000 in liabilities in a filing Monday in U.S. Bankruptcy Court. To contact ... (Mon, 16 Mar 2015 18:18:19 -0700)

Can I make my ex pay our old debt?
Dear Bankruptcy Adviser, My ex-wife filed bankruptcy. In our divorce documents, she agreed to pay back a loan to someone we both owed money to. Now, she is trying to file bankruptcy and eliminate that debt. Can she do that? Do I need to fight her in bankruptcy court? (Tue, 17 Mar 2015 06:30:21 -0700)

TiVo Gets Bankruptcy Court Nod to Acquire Some Aereo Assets - Analyst Blog
Recently, TiVo Inc. (TIVO) announced that it has received the final approval from the U.S. Bankruptcy Court judge to acquire some assets of Aereo. (Tue, 17 Mar 2015 09:30:04 -0700)

New LightSquared bankruptcy exit plan has Ergen's support
Cerberus Capital Management and Solus Alternative Asset Management on Tuesday proposed a new plan to restructure bankrupt wireless venture LightSquared, with the support of billionaire Charles Ergen, LightSquared's largest lender. The two private equity firms would pay most of Ergen's $1 billion debt in cash, purchasing $950 million of it and then accepting repayment in the form of second-lien ... (Tue, 17 Mar 2015 09:51:54 -0700)

Bankruptcy judge allows Caesars to void several deals
A bankruptcy judge says an arm of casino giant Caesars Entertainment Corp. can tear up contracts with the Kansas City Chiefs, a Springhill Suites in Louisiana and audio company Monster Inc. that says it feuded with Planet Hollywood performer Britney Spears. (Tue, 17 Mar 2015 11:14:54 -0700)

Caesars dissolves deals with Kansas City Chiefs, others
LAS VEGAS (AP) — A bankruptcy judge has allowed an arm of casino giant Caesars Entertainment Corp. to tear up contracts it had with the Kansas City Chiefs, a hotel in Louisiana and an audio company as it looks to shed millions of dollars of costs. (Tue, 17 Mar 2015 12:49:52 -0700)

Quicksilver Resources files for bankruptcy
Quicksilver Resources and its U.S. units filed for Chapter 11 bankruptcy protection, adding to a list of oil and gas producers who have folded. (Tue, 17 Mar 2015 17:28:43 -0700)

Dannemora Mineral AB Files for Bankruptcy
Regulatory News: (Wed, 18 Mar 2015 00:17:00 -0700)

Bankruptcy should be removed automatically from credit reports
The notation that you have filed a Chapter 13 or Chapter 7 bankruptcy should be deleted automatically from your credit reports after seven or 10 years -- but you better check (Wed, 18 Mar 2015 05:00:00 -0700)

COLUMN-U.S. student borrowers need relief in bankruptcy
Two changes to the U.S. consumer bankruptcy process could help some of the most trapped student loan borrowers free themselves from a modern-day debtors' prison. President Barack Obama last week directed three U.S. government agencies - the Department of the Treasury and Education as well as the Consumer Financial Protection Bureau - to report by Oct. 1 whether bankruptcy or other laws and ... (Wed, 18 Mar 2015 05:00:00 -0700)

What happens when a corporation declares bankruptcy?
Understand what options are available to corporations under bankruptcy protection, and learn what takes place after bankruptcy is filed. (Wed, 18 Mar 2015 05:46:48 -0700)

U.S. student borrowers need relief in bankruptcy
US-COLUMN-WESTON-BANKRUPTCY:U.S. student borrowers need relief in bankruptcy (Wed, 18 Mar 2015 07:06:07 -0700)

Chicago Spire bankruptcy quietly ends. Now what?
Some 17 months after the site for the Chicago Spire became entangled in court proceedings, the bankruptcy case has closed. (Wed, 18 Mar 2015 08:42:28 -0700)

Yellow Cab bankruptcy means couple may not see 'a dime' of $26M verdict
The company that operates Yellow Cab in Chicago filed for bankruptcy protection early Wednesday, just hours after a Cook County jury awarded nearly $26 million to a real estate executive from Hinsdale who was severely brain damaged in a high-speed taxi crash. (Wed, 18 Mar 2015 13:34:52 -0700)

Yellow Cab files for bankruptcy hours after $26 million verdict against company
The Yellow Cab Co. filed for bankruptcy protection early Wednesday, hours after a Cook County jury awarded nearly $26 million to a lawyer who suffered severe brain damage in an accident while riding in a cab. (Wed, 18 Mar 2015 13:42:20 -0700)

The Real Reason Student Loans Should Be Dischargeable in Bankruptcy
What would happen with the student loan crisis if student debt was allowed to be discharged in bankruptcy? (Thu, 19 Mar 2015 05:00:40 -0700)

Bankruptcy of debt-heavy Caesars division growing more complex, lengthy
LAS VEGAS — Two months in, and the bankruptcy of Caesars' debt-heavy operations arm is growing more complex and likely lengthier than expected. (Thu, 19 Mar 2015 14:39:19 -0700)

Bankruptcy of debt-heavy Caesars division complex, lengthy
LAS VEGAS (AP) — No one said it was going to be easy, and the bankruptcy of Caesars Entertainment's debt-heavy operations arm has been anything but as it appears to be growing even more complex and lengthier than expected. (Thu, 19 Mar 2015 15:23:25 -0700)

Stressed oil firms turn to junk bonds, bankruptcy
The oil price crash is taking a growing financial toll on companies throughout the industry, forcing some into bankruptcy and others to issue expensive junk bonds to stay afloat. Earlier bankruptcies include a March 3 filing by Cal Dive International, which installs offshore pipelines and platforms. On March 5, US Gulf Coast producer Energy XXI issued $1.45 billion in bonds that pay a steep 11 ... (Fri, 20 Mar 2015 20:59:16 -0700)

New U.S. bankruptcy judge takes oath
Arkansas' newest bankruptcy judge, Phyllis M. Jones, was formally sworn in Friday at a ceremony at the Richard Sheppard Arnold United States Courthouse in downtown Little Rock. (Sat, 21 Mar 2015 01:35:24 -0700)

Flashpoint: Judge Steven Rhodes breaks down Detroit bankruptcy
Judge Steven Rhodes joined Flashpoint to talk about some of the most critical topics in Detroit's bankruptcy process, including the importance of speed in the city's recovery and his relationship with Emergency Manager Kevyn Orr (Sun, 22 Mar 2015 08:18:52 -0700)

RadioShack's fate to be set at bankruptcy auction
RadioShack's fate hangs in the balance Monday when a bankruptcy auction kicks off pitting companies that want to liquidate the electronic retailer's remaining assets against a hedge fund that has pledged to keep about half the chain's stores open. (Sun, 22 Mar 2015 14:25:35 -0700)

Streetwear site may have to file for bankruptcy
Word on the street: Karmaloop may file for bankruptcy this week. The Boston-based streetwear site — a dot-com darling just a few years ago with ambitious plans for growth —... (Sun, 22 Mar 2015 21:16:23 -0700)

SAN BERNARDINO: Bankruptcy deadline looms as creditors wait
San Bernardino is getting ready for some of the most critical decisions in its nearly three years in bankruptcy as a crucial deadline looms.The city must submit a plan to federal bankruptcy court by May 30. Officials are considering major changes in... (Sun, 22 Mar 2015 22:31:01 -0700)

Franklin Templeton files opening brief in appeal of Stockton, CA, bankruptcy exit plan
(Reuters) - The holdout creditor in Stockton, California's bankruptcy case filed its opening brief in an appeal of the city's reorganization plan on Monday, claiming "no bondholder has ever received so little in the history of municipal bankruptcy." The creditor, two funds managed by Franklin Templeton Investments, said Stockton's plan to exit Chapter 9 bankruptcy was discriminatory and punitive ... (Mon, 23 Mar 2015 15:06:25 -0700)

CFP Board Names 19 CFPs With Bankruptcies
Why are financial planners, of all people, declaring bankruptcy? Hospital bills, the real estate downturn and the related financial crisis drove the bankruptcies of some of the 19 planners who appear on the CFP Board's most recent list of CFPs who've filed for relief for protection from creditors. (Tue, 24 Mar 2015 08:31:40 -0700)

RadioShack's Bankruptcy Could Sell Your Customer Data
For RadioShack itself, the stakes are enormous. Bloomberg News reported Tuesday morning that Standard General, a hedge fund that is one of RadioShack's creditors, has won the auction. (Tue, 24 Mar 2015 09:27:35 -0700)

RadioShack’s Bankruptcy Auction May Include Your Personal Data
But legal challenges could prevent the company from selling it (Tue, 24 Mar 2015 10:16:45 -0700)

Atlantic City emergency plan: Layoffs, no bankruptcy filing
Two emergency managers appointed by New Jersey Gov. Chris Christie to turn around Atlantic City's troubled finances recommend layoffs and deep spending cuts, but don't foresee a bankruptcy filing for the struggling casino resort. (Tue, 24 Mar 2015 13:18:16 -0700)

Atlantic City turnaround team bets on cuts not bankruptcy
By Hilary Russ NEW YORK (Reuters) - A turnaround team tasked with reviving Atlantic City says New Jersey's struggling gambling hub must consider cost cuts, layoffs and longer bond maturities, but bankruptcy is not in the cards - yet. "Bankruptcy is not something that we are contemplating," said emergency manager Kevin Lavin on a conference call on Tuesday. "We think that this process can be done ... (Tue, 24 Mar 2015 15:39:27 -0700)

Moral Bankruptcy of Chicago's Elites
As the city approaches financial bankruptcy, Chicago’s elite’s line-their-pockets with taxpayer money. There is real pain in Chicago. In the last four years, 10,000 shootings have left the city scarred. Nearly 21,000 students are trapped in failing schools. Homeowners face rising property taxes - monthly property tax payments now rival mortgage [...] (Wed, 25 Mar 2015 04:51:38 -0700)

AvCraft files for bankruptcy
AvCraft Technical Services, the aircraft maintenance company that left hangars near Myrtle Beach International Airport this month after it couldn’t pay Horry County more than $91,000 in overdue rent, filed… Click to Continue » (Wed, 25 Mar 2015 11:06:14 -0700)

Judge approves ex-Watergate lawyer to probe Caesars' unit bankruptcy
A lawyer who made his name as a Watergate prosecutor was approved on Wednesday to begin investigating a series of corporate deals in the lead-up to the bankruptcy of the casino operating unit of Caesars Entertainment Corp. Creditors allege those deals looted billions of dollars from the operator of 38 casinos for the benefit of the parent company, which is not bankrupt, and its private equity ... (Wed, 25 Mar 2015 14:00:28 -0700)

Judge approves ex-Watergate lawyer to probe Caesars bankruptcy
A lawyer who made his name as a Watergate prosecutor was approved on Wednesday to begin investigating a series of corporate deals in the lead-up to the bankruptcy of the casino operating unit of Caesars Entertainment Corp . Richard Davis, a former partner at bankruptcy powerhouse Weil Gotshal & Manges, will investigate whether the operating unit received fair value for choice properties ... (Wed, 25 Mar 2015 15:11:16 -0700)

Brazil builder linked to Petrobras scandal files for bankruptcy
Brazilian engineering firm Galvao Engenharia said on Wednesday it filed for bankruptcy protection, as state-run oil company Petroleo Brasileiro SA cut off payments due to a broad corruption scandal in which it had been implicated. The private company is one of the first to break under the strain of canceled projects and suspended payments as a result of the broad police probe into corruption at ... (Wed, 25 Mar 2015 19:41:10 -0700)

The High Cost of Saving a Failing Business
Filing for bankruptcy protection to save a small business often costs at least $100,000 to $300,000—and sometimes twice as much in cases where creditors are contentious, lawyers say. (Thu, 26 Mar 2015 04:58:44 -0700)

Bankruptcy judge says to approve LightSquared bankruptcy exit plan
A U.S. bankruptcy judge said on Thursday she will approve wireless venture LightSquared's plan to exit bankruptcy and repay its largest creditor, Dish Network Corp Chairman Charles Ergen, in full. An approval ... (Thu, 26 Mar 2015 12:50:17 -0700)

LightSquared bankruptcy exit plan earns court approval
Wireless venture LightSquared on Thursday concluded three years of litigation with creditors, securing U.S. Bankruptcy Court approval of a plan to end its Chapter 11 case and repay in full its largest creditor, Dish Network Corp Chairman Charles Ergen. LightSquared's case has been closely watched because its main asset, wireless spectrum, is considered very valuable. Under the plan greenlighted ... (Thu, 26 Mar 2015 13:19:02 -0700)

Nevada casino regulators scold Caesars for bankruptcy
Nevada gambling regulators called the bankruptcy of Caesars Entertainment Corp.'s debt-heavy subsidiary an embarrassment and lamented the company's inability to pay 63 former executives some $33 million ... (Thu, 26 Mar 2015 16:30:14 -0700)

Bankruptcy hearing could decide fate of RadioShack
WILMINGTON, Del. (AP) — A hearing on whether to approve the bankruptcy sale of assets of electronics retailer RadioShack opened Thursday with the company seeking court approval of the purported winning bid, and an attorney for a losing bidder describing the auction as a sham and asking a Delaware judge to reopen the sale process. (Thu, 26 Mar 2015 16:41:52 -0700)

Bankruptcy shadows 75th anniversary
A sign frames the Old Zuni Mission on the Zuni Pueblo Indian reservation in New Mexico. (CNS photos/Bob Roller) (Fri, 27 Mar 2015 04:50:09 -0700)

Morris Brown trustee: College emerging from bankruptcy
Free access to myAJC for AJC subscribers. In a statement, board Chairman Preston Williams said the action, approved at a Wednesday hearing and confirmed Thursday by a signed order by Judge Barbara Ellis-Monro, “will allow the college to exit bankruptcy and move forward to regain its accreditation.” (Fri, 27 Mar 2015 09:08:33 -0700)

Chicago Bankruptcy Lawyer Richard Fonfrias Addresses Limitations of Home Affordable Refinance Program
Editors Note: There is a photo associated with this release. (Fri, 27 Mar 2015 09:38:33 -0700)

Bankruptcy Judge May Lift Shield for GM Over Ignition Switch Claims
A bankruptcy judge told General Motors Co. six years ago it didn’t have to worry about lawsuits over cars made before its $49.5 billion government bailout. Last month, the same judge said he wasn’t so sure anymore. U.S. Bankruptcy Judge … The article Bankruptcy Judge May Lift Shield for GM Over Ignition Switch Claims appeared first on Insurance Journal . (Fri, 27 Mar 2015 12:55:44 -0700)

Kids and Money: Bankruptcy is not the answer to student loan debt
Having a bankruptcy flagged in your credit file can make obtaining a credit card, taking out a car loan or applying for a home mortgage a non-starter for years. It can also impact your ability to land a job. (Sat, 28 Mar 2015 03:15:00 -0700)

Debt Consolidation Vs. Bankruptcy: Which Should You Choose?
A couple in their 60s with a dramatically decreased income asks for help in figuring out what to do with their debt. (Sun, 29 Mar 2015 03:00:14 -0700)

Washington-area bankruptcy filings for March 30
These firms recently filed with the U.S. Bankruptcy Court?s local court clerks? offices. (Sun, 29 Mar 2015 11:52:00 -0700)

How to Get a Car Loan After Bankruptcy
Buying a car can feel stressful enough, but after a bankruptcy it may feel terrifying. Here's how to get a car loan after bankruptcy. (Mon, 30 Mar 2015 02:00:51 -0700)

Revel hopes for sale 'soon', seeks extension on Ch. 11 case
The owners of Atlantic City's former Revel casino hope to sell it "soon," even as they seek an extension through the end of June to wrap up its bankruptcy case. In a court filing made Monday, ... (Tue, 31 Mar 2015 07:51:13 -0700)

Units of Brazil's OAS file for bankruptcy protection amid scandal
Grupo OAS filed for bankruptcy protection for nine of its units on Tuesday as the heavily indebted Brazilian engineering conglomerate struggles with an economic slowdown, government austerity, a slumping ... (Tue, 31 Mar 2015 10:55:33 -0700)

Bankruptcy judge approves RadioShack asset sale
A bankruptcy judge has approved the sale of more than 1,740 RadioShack stores to hedge fund Standard General, preserving some 7,500 jobs. (Tue, 31 Mar 2015 13:47:15 -0700)

Judge approves RadioShack sale to Standard General
A bankruptcy judge has approved the sale of more than 1,740 RadioShack stores to hedge fund Standard General, preserving some 7,500 jobs. RadioShack's bankruptcy plan calls for Sprint, the No. 3 U.S. wireless ... (Tue, 31 Mar 2015 14:28:38 -0700)

Bankruptcy judge approves sale of RadioShack stores to hedge fund Standard General
A bankruptcy judge has approved the sale of more than 1,740 RadioShack stores to hedge fund Standard General, preserving some 7,500 jobs. RadioShack's bankruptcy plan calls for Sprint, the No. 3 U.S. wireless carrier, to operate dedicated "store within a store" shops in most of the locations acquired by acquired by General Wireless, a newly formed affiliate of Standard General LP. The ruling by ... (Tue, 31 Mar 2015 15:22:18 -0700)

Bankruptcy: RadioShack Asset Sale To Standard General Nets Court OK
The bankruptcy court overseeing the Chapter 11 proceedings of RadioShack has approved the sale of 1,723 of the company’s stores to General Wireless, an affiliate of Standard General, according to a report from Bloomberg News. As reported, in October 2014 Standard General, along with certain other investors, acquired the company’s then outstanding credit agreement [...] (Tue, 31 Mar 2015 15:37:00 -0700)

Samson Resources may file for bankruptcy
Struggling oil-and-gas producer Samson Resources Inc. said, in a filing on Tuesday, that Chapter 11 bankruptcy protection might offer the best route to restructuring its heavy debt load. Samson, based in Tulsa, Okla., is exploring a range of strategic and financial options but a "filing under Chapter 11 of the U.S. (Tue, 31 Mar 2015 16:10:48 -0700)


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