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Home > Bankruptcy News

Bankruptcy News Apr 2015

Michael Noonan downplays reduction in bankruptcy term
Minister for Finance says more data needed on effectiveness of current insolvency period (Wed, 01 Apr 2015 06:42:52 -0700)

EveryWare Global to file for prepackaged bankruptcy
EveryWare Global Inc, a marketer of cookware and tabletop products, said it expects to file for prepackaged bankruptcy that will give its lenders control of the company after it emerges from bankruptcy. EveryWare said it expects to file for a prepackaged Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware and expects to emerge from bankruptcy within 60-75 days. After ... (Wed, 01 Apr 2015 06:45:38 -0700)

Bank of America at center stage in U.S. top court bankruptcy case
As the U.S. Supreme Court on Wednesday considered the case of a Massachusetts homeowner battling his mortgage lender over a bankruptcy plan, several justices focused their attention on his unlikely ally: Bank of America Corp. Bank of America, one of the largest U.S. banks, filed a friend-of-the-court brief in support of Louis Bullard, who owes community bank Blue Hills Bancorp Inc $387,000 for ... (Wed, 01 Apr 2015 12:20:17 -0700)

Bankruptcy filings down in area
Bankruptcy filings in northwest Ohio fell 14 percent in March compared with the same month a year ago. (Wed, 01 Apr 2015 21:13:19 -0700)

Brazil court accepts OAS request for creditor protection
A Brazilian state court accepted a bankruptcy protection request filed by engineering conglomerate Grupo OAS for nine of its units, in the largest corporate failure yet related to the snowballing Petróleo Brasileiro SA corruption scandal. The decision on Thursday by Judge Daniel Carnio Costa at São Paulo State's 1st District of Judicial Recoveries allows Grupo OAS to begin steps to renegotiate ... (Thu, 02 Apr 2015 08:38:51 -0700)

Lehigh Valley RadioShacks to stay open under bankruptcy order
Lehigh Valley RadioShack stores that remained opened during the company's bankruptcy will continue to stay open after a bankruptcy judge in Delaware approved the sale this week of more than 1,740 stores to hedge fund Standard General L.P., preserving some 7,500 jobs. (Thu, 02 Apr 2015 12:09:58 -0700)

Cygam Announces Bankruptcy Filing and Corporate Update
Cygam Energy Inc. announced today that it has filed a voluntary assignment in bankruptcy pursuant to the provisions of the Bankruptcy and Insolvency Act . In conjunction with this filing, Hardie and Kelly ... (Thu, 02 Apr 2015 14:30:56 -0700)

NLV mayor backs bankruptcy power for cities, counties
A bill that would permit Nevada cities and counties to file for Chapter 9 bankruptcy protection was endorsed Friday by North Las Vegas Mayor John Lee. (Fri, 03 Apr 2015 16:27:09 -0700)

NH Legal Perspective Guide to bankruptcy preference payments and creditors' defenses
MOST BUSINESSES will, at one time or another, open the mail to find a demand letter or worse, a lawsuit, demanding that the business return money to a bankruptcy estate because the business received a 'preference' or a 'preferential transfer' from a bankrupt debtor. (Sat, 04 Apr 2015 21:26:21 -0700)

Queens Bankruptcy Attorney Bruce Feinstein, Esq. Shares Information That Protects NYC Tenants of Rent-Controlled ...
New York bankruptcy lawyer Bruce Feinstein, Esq. speaks in response to a recent court ruling that declares NYC landlords cannot seize rent-controlled apartments from tenants going through bankruptcy. (PRWeb April 06, 2015) Read the full story at http://www.prweb.com/releases/20 (Mon, 06 Apr 2015 05:19:05 -0700)

'Bankruptcy risk is associated with lower income': U of W report
Poor Winnipeggers have almost no consumer debt but still live close to bankruptcy while wealthier Winnippegers have much heftier debt levels but a very low risk of insolvency. That’s the finding of a new report released today by the University of Winnipeg’s Institute of Urban Studies. (Mon, 06 Apr 2015 09:23:13 -0700)

Judge enters sale order for Revel; deal to close soon
The tortured sale of Atlantic City's former Revel casino was expected to be finalized soon after a bankruptcy judge formally authorized its sale on the fifth attempt. Florida developer Glenn Straub's Polo ... (Mon, 06 Apr 2015 09:32:33 -0700)

Arvest Firing Challenged in Bankruptcy Court
An Arkadelphia man says following bankruptcy law was a violation of Arvest's policy on employee debt and cost him his job. (Mon, 06 Apr 2015 10:00:25 -0700)

Low-income Winnipeggers have highest bankruptcy risk: Report
A new report from the University of Winnipeg has identified which neighbourhoods in the city have the greatest risk for bankruptcy. The report found low-income areas like the North End and West End have low consumer debt (debt that excludes mortgages) and high bankruptcy risk. River Heights, Wolseley and parts of St. Boniface — areas with moderate consumer debt — fell somewhere in the middle ... (Mon, 06 Apr 2015 14:02:07 -0700)

Can You Discharge Private Student Loans in Bankruptcy?
Getting your private student loans included in bankruptcy isn't impossible -- but you have to meet a few qualifications. (Tue, 07 Apr 2015 02:30:53 -0700)

Sullivan International Group Files for Chapter 11 Bankruptcy Protection
Sullivan International Group, Inc. announced today that it has filed voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District ... (Tue, 07 Apr 2015 12:01:00 -0700)

Boulder's Fresh Produce clothing company files for bankruptcy
Boulder-based Fresh Produce Holdings, a designer, manufacturer and retailer of clothing for women and children, has filed for Chapter 11 bankruptcy protection. (Tue, 07 Apr 2015 23:23:15 -0700)

EveryWare Global files for Chapter 11 bankruptcy protection
The company listed assets of $100 million to $500 million and liabilities of $500 million to $1 billion in its petition in the Delaware bankruptcy court. Earlier this month, EveryWare said it expected to file for a prepackaged bankruptcy that would give its lenders control of the company after it emerges from bankruptcy within 60-75 days. EveryWare which was formed through the merger of Anchor ... (Wed, 08 Apr 2015 00:36:45 -0700)

Erie Otters go into bankruptcy, as Sherry Bassin tries to facilitate sale
The sale of the Erie Otters took another turn on the eve of its second-round playoff series. (Wed, 08 Apr 2015 07:15:01 -0700)

Tableware company EveryWare files for Chapter 11 bankruptcy
EveryWare Global Inc., the company behind Oneida and Anchor Hocking plates, forks and spoons, said Wednesday that it is has filed for Chapter 11 bankruptcy protection as part of a prepackaged deal with ... (Wed, 08 Apr 2015 07:44:03 -0700)

Man kills lawyer, judge, co-defendant at Milan courthouse
A man on trial for fraudulent bankruptcy opened fire in Milan's courthouse Thursday in a "cold, premeditated" spree, killing his lawyer, a co-defendant and a judge before being captured nearly 25 kilometers away as he fled on a motorbike, officials said. (Thu, 09 Apr 2015 05:57:56 -0700)

Bankruptcy Defendant Kills 2 in Italy Court: Reports
A defendant in a bankruptcy case opened fire in an Italian courthouse on Thursday, killing a judge and a lawyer, according to local reports. (Thu, 09 Apr 2015 06:16:18 -0700)

Bankruptcy court gives Twin Cities Archdiocese until November to submit plan
Judge gave church until Nov. 30 to file a reorganization plan in its bankruptcy proceedings. (Thu, 09 Apr 2015 08:35:41 -0700)

Gunman kills 3 in Milan court, raising security concerns
MILAN (AP) — A real estate developer on trial for fraudulent bankruptcy fired 13 shots inside the Milan Tribunal on Thursday, killing his lawyer, a co-defendant and a judge, eluding court security before being captured 25 kilometers away. (Thu, 09 Apr 2015 13:40:02 -0700)

Gunman kills 3 in Milan courthouse, authorities vow to correct security failures
A real estate developer on trial for fraudulent bankruptcy fired 13 shots inside the Milan Tribunal on Thursday, killing his lawyer, a co-defendant and a judge, eluding court security before being captured 25 kilometres away. The shooting raised concerns about security at Italy's courthouses, where much of the surveillance has been outsourced to private contractors, and about Italy's ability to ... (Thu, 09 Apr 2015 14:29:53 -0700)

Creditors' Committee Wants Caesars to Consent to Involuntary Bankruptcy
NEW YORK (TheDeal) -- Caesars Entertainment  will once again have to provide reasons for not agreeing to an involuntary bankruptcy petition filed by certain junior lenders ahead of its voluntary petition. Judge A. Benjamin Goldgar of the U.S. Bankruptcy Court for the Northern District of Illinois in Chicago on April 29 is scheduled to preside over a hearing on the matter. Must Read: Buffett's ... (Thu, 09 Apr 2015 15:05:18 -0700)

Site Last Updated 7:19 am, Friday
A TOTAL of 132,543 bankruptcy cases were recorded from 2008 to January 31 this year, the Dewan Rakyat was told yesterday. Minister in the Prime Minister’s Department, Nancy Shukri said of the total, 93,036 (70.2%) were male while 39,507 (29.8%) were female. (Thu, 09 Apr 2015 17:10:31 -0700)

The Amazingly Confusing Life Insurance Exemption From Creditor Claims
On August 14, 2014, Michael and Laura Gutke filed for Chapter 7 bankruptcy. This was not the end to their problems, for just a few weeks later, on September 15, Michael's mother passed away. Soon thereafter, the Gutkes learned that Michael's mother had a life insurance policy, wherein Michael was named [...] (Sat, 11 Apr 2015 10:25:01 -0700)

Washington-area bankruptcy filings for April 13, 2015
These firms recently filed with the U.S. Bankruptcy Court?s local court clerks? offices. (Sun, 12 Apr 2015 08:06:49 -0700)

A High-Stakes Bankruptcy Game Plays Out on Atlantic City's Boardwalk
NEW YORK (The Deal) -- Fear of a bankruptcy filing has swept through Atlantic City ever since New Jersey Gov. Chris Christie in January appointed two men to steer the gaming city out of its financial crisis. Whether Kevin Lavin, A.C.'s emergency manager, and his special consultant, Kevyn Orr, can keep the troubled city from entering Chapter 9 bankruptcy protection is still very much in doubt ... (Mon, 13 Apr 2015 09:05:58 -0700)

Coal producer Xinergy, subsidiaries file for bankruptcy
Coal producer Xinergy Ltd. and 25 subsidiaries have filed for Chapter 11 bankruptcy, citing declining demand for coal and increased environmental regulation. (Mon, 13 Apr 2015 09:15:43 -0700)

Bankruptcy Judge Considers Allied Bank Auction
The continued ownership of Allied Bank by the Lex Golden family is under judicial review after a recent two-day bankruptcy hearing in Fayetteville. U.S. Bankruptcy Judge Ben Barry will decide in the coming weeks whether Acme Holding Co. should be liquidated, resulting in the sale of Allied, the $111 million-asset bank chartered in Crawford County. (Mon, 13 Apr 2015 09:45:44 -0700)

One in Six NFL Players Goes Bankrupt Within 12 Years of Retirement
Nearly one in six NFL players files for bankruptcy within a dozen years of retirement, according to new research (Tue, 14 Apr 2015 09:02:43 -0700)

4 High-Earning Careers Surprisingly Likely to Lead to Bankruptcy
If you think that personal bankruptcy happens only to lower-income people — think again. Although there’s no concrete data on bankruptcy filings per profession, recent research findings, news reports and anecdotal evidence are shedding light on some of the professions more vulnerable to bankruptcy than others. Most people over the course of their economic life cycle save when their income is ... (Tue, 14 Apr 2015 10:21:00 -0700)

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