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Recent Posts in Bankruptcy in the News Category

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Developer Files for Chapter 7 due to Belly Up Projects

As the housing economy across the country is struggling to regain its former grandeur, developers left and right have been filing for bankruptcy. One such developer in Wichita was forced to file for ...
Continue reading "Developer Files for Chapter 7 due to Belly Up Projects" »

Rennovator Moves Forward with Chapter 7

A man known for working to renovate the downtown area has filed for Chapter 7 bankruptcy this month. Rather than build on the fringes of the city like many other developers do, this man has made it ...
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Businessman Takes Life after Filing for Chapter 11

Police are investigating the case of a businessman who took his own life last week in Aspen. The restaurateur moved from Las Vegas to Aspen last year in 2008 to open up a restaurant and club. Just a ...
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Manhattan Judge Issues Surprise Ruling

A Manhattan judge issued a surprising ruling this week regarding the bankruptcy case of a brokerage firm. The New York based firm filed for business bankruptcy earlier this year, prompting an outcry ...
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Retirement Community Goes Bankrupt

A decline in the housing economy thwarted the success of an upscale retirement community in Chicago. The retirement home, located in popular yet wealthy section of the city, was expected to draw a ...
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Postal Service Faces Bankruptcy

One of the greatest institutions of our nation, the postal service, is in danger of filing for bankruptcy. In an effort to hold off on business bankruptcy, the U.S. Postal Service is taking measures ...
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Bankruptcy Statistics Show Decline

The state of Indiana received good news last month: it had fewer bankruptcies during the last fiscal year compared to the previous year. According to one recent report, the state saw an 8 percent ...
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Global Firm in Hot Water

A global firm is in hot water after filing for business bankruptcy earlier this month. While this is not surprising in and of itself considering the high rate of business bankruptcies recently, there ...
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Bankruptcy Filings Lower in October

Good news - bankruptcy filings are on the decline across the country, giving hope that the economy may slowly be starting to repair itself. According to one researcher, the filings for October 2011 ...
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National Bank Ordered to Continue Creditor Mediation

Rather than decide the case herself just yet, a bankruptcy judge in Wilmington, Delaware has ordered a national bank to continue mediation with its creditors. According to her ruling last week, the ...
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Creditors Forcing Company into Chapter 7

A real estate developer in Florida may be forced to file for Chapter 7 bankruptcy if the company's creditors get their way. When a company has serious debts, its creditors can file a motion to ...
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Pizza Chain Gets Buy Out Offer

A popular pizza restaurant chain in Chicago, Illinois could be coming to the end of its business bankruptcy filing, thanks to a serious offer to buy out its restaurant operations. According to a ...
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Arizona Racetrack Still Sorting Through Bankruptcy

An Arizona based racetrack has filed for Chapter 7 bankruptcy and has created numerous headaches for the trustee responsible for overseeing the case. The bankrupt racetrack owes millions of dollars to ...
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Company Gives Out Executive Bonuses during Business Bankruptcy

One organization sparked a controversy recently when their business bankruptcy judge allowed the company to give out millions of dollars in bonuses to a few hundred top managers in the company. ...
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Newspaper Still Trying to Resolve Bankruptcy

Not all bankruptcy cases are easy to complete, especially when they involve millions of dollars worth of debt. Such is the case of a national newspaper company that has been attempting to complete its ...
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Camera Company Still Denying Bankruptcy Rumors

A camera company is vehemently denying recent claims of business bankruptcy despite public knowledge that the company is failing. As the company that brought the first consumer camera to the market in ...
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Car Company Gets Bankruptcy Approval

A Swedish car company has finally been approved for bankruptcy protection, a necessary move to save it from financial ruin. News sources say that a court approved the business bankruptcy this month, ...
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Former Investment Firm CEO Files for Chapter 7

The CEO of a large investment management firm filed for bankruptcy this month after being approved for a lifetime ban from the securities industry. As with any Chapter 7 bankruptcy filing, the CEO ...
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Jeweler Files for Chapter 11 to Avoid Liquidation

In order to avoid being liquidated, one major jewelry company was forced to file for Chapter 11 bankruptcy this month. The company's largest creditor, a bank, filed papers of intent in July ...
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New Foreclosure Program Announced in Illinois

The governor of Illinois was proud to announce a new program that is designed to help those families that have been hit the hardest by a tough economy avoid foreclosure. The program, entitled ...
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More College Graduates Filing for Bankruptcy

Curious who is filing for bankruptcy these days? Well, if you guessed college graduates, you would be correct. In fact, individuals with bachelor's degrees are the fastest growing group of ...
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Professional Baseball Team Still Dealing with Bankruptcy Battle

A Los Angeles baseball team has had a difficult year while its owner not only went through a messy divorce, but filed for business bankruptcy as well. The team was forced to file for bankruptcy back ...
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Bankrupt Newspaper Introduces New Incentive Plan

One of the largest newspaper companies in the country is plowing ahead in its business bankruptcy plans with talk of a new incentive program. If successful, the payout plan will help the company ...
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Company Takes Break from Bankruptcy Case to Address Lawsuit

After fighting with creditors for months now, a major newspaper publisher has taken a break from its business bankruptcy proceedings to settle a lawsuit. The suit, filed in 2008 by former employees of ...
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Franchises Anger Disrupts Pizzeria's Bankruptcy

While the recipes behind a Chicago pizzeria's famous pies have long been secret, they are becoming a serious issue in the company's bankruptcy case. While all of the franchises are supposed to ...
Continue reading "Franchises Anger Disrupts Pizzeria's Bankruptcy" »
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