Bankruptcy Law News

Bankruptcy Law - Sea Containers set for Chapter 11

Tristan Andrews — Tue, 17 Oct 2006 03:02:02 +0000

Sea Containers set for Chapter 11
The troubled container leasing group that owns the GNER rail service is on the brink of filing for Chapter 11 bankruptcy protection after warning it is unlikely to be able to repay its creditors.

Air America Radio Files for Chapter 11
Liberal Talk Radio Network Air America Files for Chapter 11 Bankruptcy Protection

Bankruptcy Law - Bankrupt Northwest Airlines predicts 'modest profit' for the year

Tristan Andrews — Thu, 05 Oct 2006 03:01:54 +0000

Bankrupt Northwest Airlines predicts 'modest profit' for the year
MINNEAPOLIS -- Northwest Airlines Corp. on Monday predicted a "modest profit" for the year as it reorganizes in bankruptcy, but it also said it will lose money through the end of the...

Rose Furniture Company closing its doors
HIGH POINT -- The Rose Furniture Company has been a centerpiece of High Point's furniture business for more than 80 years, but now the company is being forced to close its doors.

Bankruptcy Law - The horse race

Tristan Andrews — Sun, 01 Oct 2006 03:01:16 +0000

The horse race
Spokane Spokesman-Review - Richard filed Chapter 7 bankruptcy, which means his debts didn t have to be repaid. "I was advised by credit counselors that this was the only option," Richard said, although he refused to say how much debt was written off. At the time, he was

Bankruptcy hearing for Krispy Kreme franchisee postponed
AZCentral.com - Bankruptcy proceedings for the Valley's Krispy Kreme franchisee were put on hold Friday to make sure former employees are notified about creditor hearings. The first meeting of creditors in Rigel Corp.'s Chapter 7 bankruptcy case was rescheduled to

Flash back
Kansas City Star - The names, along with those of three bonding companies that loaned her money, were on a list of creditors Neal filed when she sought Chapter 7 bankruptcy relief in May 2005. Neal is no longer a judge and is currently serving a federal prison sentence

Bankruptcy Law - Hospital to honor 9/11 survivor, college president

Tristan Andrews — Fri, 15 Sep 2006 03:01:33 +0000

Hospital to honor 9/11 survivor, college president
Times Herald-Record - Cornell University's Orange County Cooperative Extension is offering a three-hour, classroom-based course that meets the legal requirement for personal finance education for anyone who has filed Chapter 7 or Chapter 13 bankruptcy in New York. Upon

The Bankruptcy Option
Forbes - Chapter 7 Versus Chapter 13 Bankruptcy If you file for personal bankruptcy, most likely it will be a Chapter 7 or Chapter 13 bankruptcy. In a Chapter 7 bankruptcy, your assets (except for property that is exempt under state or federal law) go into a

In the Garden
Fayetteville Observer - Q: What is the statute of limitations on Chapter 13 bankruptcy fraud and who do you report it to? What are the penalties for this? J.C., Clinton A: Federal authorities suspect bankruptcy fraud in 10 percent of the 2 million bankruptcy cases that

Thank you PR WEB.
PRWeb - While Chapter 7 bankruptcy filings are increasing most rapidly, there has been a steady month-to-month increase in the number of Chapter 13 bankruptcy cases filed as well. With so much confusing information in the media, the Total Bankruptcy website

Bankruptcy Law - Teaching kids it's OK to spend money

Tristan Andrews — Mon, 11 Sep 2006 03:01:29 +0000

Teaching kids it's OK to spend money
WorldNetDaily, OR - Aug 14, 2006... Focusing too much or too little on any of these is not healthy. Some close friends of ours filed Chapter 13 bankruptcy a few years ago. ...

Floridians make up for lost overtime
St. Petersburg Times, FL - Aug 17, 2006... In 2004, the Brooksville mother of six, reeling from a recent Chapter 13 bankruptcy filing with her husband, got a $7-an-hour job handling customer calls at ...

Bankruptcy Law - Felpausch, Spartan Stores eye closed Carter's sites

Tristan Andrews — Tue, 22 Aug 2006 03:01:01 +0000

Felpausch, Spartan Stores eye closed Carter's sites
The court-appointed trustee for bankrupt grocer Carter's Inc. has identified seven potential buyers for the Charlotte-based company's 14 stores.

Great White Station Fire Update: Nightclub Owner's Bankruptcy Petition Finalized
The deadline for challenging a Chapter 7 bankruptcy petition filed by Jeffrey and Michael Derderian has passed, clearing the way for the federal court to shield the brothers from civil claims filed in The Station fire case.

High court suspends lawyer
A representative said Olivito lied and misled his clients.

WHO IS CHAZ HIGGS?
On July 11, state Controller Kathy Augustine dies unexpectedly, at age 50. A police investigation is announced. Her husband, Chaz Higgs, slashes his wrists, then disappears from public view. Now people want to know...

Bankruptcy Law - Mester back as orchestra director

Tristan Andrews — Thu, 17 Aug 2006 03:00:34 +0000

Mester back as orchestra director
Louisville Courier-Journal - He was already scheduled as a guest conductor late next month, and in March he had offered to lead a special program to raise money for the orchestra, which was then in a contract dispute with its musicians and spiraling toward Chapter 7 bankruptcy

Startup AmmoCore back from the dead
EETimes.com - SANTA CRUZ, Calif. AmmoCore, an EDA startup that filed for Chapter 7 bankruptcy last year, has apparently been resurrected. At an Aug. 4 shareholders meeting in Santa Clara, Calif., a new AmmoCore board was elected, consisting of co-founders Tom

Biz Buzz: Former owner of Hudson's Grill sues SLO County, Copelands
San Luis Obispo Tribune - Katz, who has filed for Chapter 7 bankruptcy protection, also claimed the county had a responsibility to assist businesses. But Wyatt Cash, assistant county counsel, said he does not know why Katz would sue the county for what appears to be city

Bankruptcy Law - MAXXAM Reports Results for Second Quarter 2006 and First Half of ...

Tristan Andrews — Sun, 13 Aug 2006 03:00:47 +0000

MAXXAM Reports Results for Second Quarter 2006 and First Half of ...
Business Wire (press release), CA - Aug 10, 2006... On July 6, 2006, Kaiser Aluminum Corporation (Kaiser) emerged from Chapter 11 bankruptcy and the Company's Kaiser common shares were cancelled without ...

3,385 IUE 717 Members Sign Up for Delphi Buyouts
Youngstown Business Journal, OH - Aug 10, 2006... made the buyout offers as part of a plan to shrink its work force in the United States by 70% as it works to emerge from Chapter 11 bankruptcy protection. ...

Airlines Continue to Look Overseas
Houston Chronicle, United States - Aug 8, 2006... The sharpest declines in July domestic capacity came from carriers currently in or fresh out of Chapter 11 bankruptcy protection, where companies have more ...

Business News short takes
Arkansas Democrat-Gazette (subscription), AR - Aug 11, 2006... It entered Chapter 11 bankruptcy protection in October and is seeking court permission to void its labor contracts and impose lower wages. ...

Bankruptcy Law - Area Comcast customers will see a gradual change

Tristan Andrews — Wed, 09 Aug 2006 03:01:22 +0000

Area Comcast customers will see a gradual change
Altoona Mirror - Late last month, Adelphia settled on plans to reorganize, aiming to emerge from Chapter 11 bankruptcy by the end of this year. The company s bankruptcy case spanned four years. The successful closing of this sale signals a major achievement on

Michael Jackson's X-Files
E! Online - The latest has the erstwhile King of Pop being led into "involuntary bankruptcy" by a cabal of ex-lawyers. Per the Jackson camp, the alleged plot "could be one of the biggest conspiracies in entertainment history." When asked Tuesday why the unnamed

Dana Corporation Completes Acquisition of Core Operations in Mexico
WTNH.com - Bankruptcy Code as debtors-in-possession. Information about the bankruptcy proceedings can be found at: http://www.dana.com/reorganization. While we continue our reorganization under Chapter 11, investments in our securities will be highly speculative

Report shows foreclosures up in July
Memphis Business Journal - currently has the highest new foreclosure rate in the country per household with one in every 1,085 homes in some state of foreclosure. Based in Boca Raton, Fla., Foreclosure.com lists more than 1.2 million foreclosure, preforeclosure, bankruptcy

Bankruptcy Law - Noketown has shut down

Tristan Andrews — Sat, 05 Aug 2006 03:00:13 +0000

Noketown has shut down
Another door closed Another downtown Roanoke restaurant has closed. Noketown Bar & Grill, at the corner of Second Street and Kirk Avenue, closed its doors after less than four months, and owners Jason and Michelle Woolfolk have put it on the block.

White River Capital, Inc. Announces Results for the 2nd Quarter of 2006; Net Income for the Second Quarter of 2006
INDIANAPOLIS--July 27, 2006--White River Capital, Inc. (Pink Sheets:WRVC) ("White River") today announced net income for the second quarter 2006 was $3.6 million, or $0.94 per diluted share (based upon 3,868,828 diluted shares outstanding), compared to second quarter 2005 net income of $12.5 million, or $40.36 per diluted share (based upon 310,191 diluted shares outstanding).

Utah sees big drop in filings of bankruptcy
Utah's bankruptcy filings were down 77 percent through June compared to the first six months of 2005, the U.S. Bankruptcy Court for the District of Utah reported Thursday.

Steuben convict freed from prison
A Steuben County man whose attempted murder conviction was overturned in April has been released from prison after state attempts to keep him there were denied.

Bankruptcy Law - Does a Chapter 7 Debtor Have a Right to Convert?

Tristan Andrews — Tue, 01 Aug 2006 03:01:05 +0000

Does a Chapter 7 Debtor Have a Right to Convert?
International News Service, Australia - Jul 6, 2006... In that case, the debtor transferred real estate into a spendthrift trust prior to filing Chapter 7 bankruptcy, and designated himself as the sole beneficiary. ...

Can IRS take house fraudulently transferred to son?
SouthCoastToday.com, MA - Jul 21, 2006... In 1994, the IRS filed its notice of tax lien. In 1996, Rosalina and Coriolano filed Chapter 7 bankruptcy and discharged their debts. ...

Bankruptcy Law - Foreclosure fears

Tristan Andrews — Fri, 28 Jul 2006 03:01:01 +0000

Foreclosure fears
Herald News - He fell behind his mortgage payments and ended up filing for Chapter 13 bankruptcy. The bankruptcy protected the house from foreclosure. But Tatum lost that protection in February when he was unable to keep up the bankruptcy payments of $2,155 a month

Consumer woes climb with prices
Evansville Courier-Press - People on the edge (of bankruptcy) are going to be pushed in," said Robert Musgrave, Chapter 13 bankruptcy trustee for Southwestern Indiana. He recently returned from a bankruptcy trustees' conference in Colorado where the topic of high gas prices

Don't Delay in Managing IRS Tax Debt
WOOD - The bill's new "means test" leads many consumers instead to file Chapter 13 bankruptcy, which establishes a repayment plan, rather than wiping out all debt. Consumers with tax debt may find it much less costly and simpler to work with a debt

Houston-Based Law Firm, Busby & Lee, P.C. Launches Toll-Free Consumer
PRWeb - Even if a debtor cannot file a Chapter 7, Busby & Lee, P.C., would still recommend a Chapter 13 bankruptcy vs. a private consolidation. Generally, the repayment plan proposed in a Chapter 13 is easier for the debtor to budget than the consolidation

Bankruptcy Law - 9 bankruptcy costs you should know about

Tristan Andrews — Mon, 24 Jul 2006 03:00:17 +0000

9 bankruptcy costs you should know about
Bankruptcy fees have gone up, and there may be more of them than you realize.

Noketown has shut down
Another door closed Another downtown Roanoke restaurant has closed. Noketown Bar & Grill, at the corner of Second Street and Kirk Avenue, closed its doors after less than four months, and owners Jason and Michelle Woolfolk have put it on the block.

Houston-Based Law Firm, Busby & Lee, P.C. Launches Toll-Free Consumer Hotline to Address Confusion over new Bankruptcy
The Bankruptcy Abuse and Consumer Protection Act, also known as BACPA, not only changed the bankruptcy law, it created a significant amount of confusion and misinformation among consumers, the media and even creditors. In an attempt to help clarify the confusion, the Houston, Texas based law firm of Busby and Lee, P.C. set-up a new consumer bankruptcy hotline number, 1-888-422-6423, to answer

Bankruptcy Law - France's Chapter 11 provides glimmer of light for Eurotunnel

Tristan Andrews — Thu, 20 Jul 2006 03:02:15 +0000

France's Chapter 11 provides glimmer of light for Eurotunnel
The ailing cross-channel operator is filing for bankruptcy protection as it fights to agree the deal that might dig it out of trouble at last. Ross Tieman reports.

UAW President: Delphi Strike Still Possible
UAW President Ron Gettelfinger says little progress has been made in recent talks with Delphi Corp. on wage and benefit issues.

Bankruptcy Law - Kaiser Aluminum emerges from four-year bankruptcy

Tristan Andrews — Sun, 16 Jul 2006 03:00:19 +0000

Kaiser Aluminum emerges from four-year bankruptcy
Reuters - Jul 6, 2006(KLUCQ.OB: Quote, Profile, Research) said on Thursday it had emerged from Chapter 11 bankruptcy protection after more than four years. ...

Break-ups force partners into bankruptcy
Glasgow Evening Times, UK - Jul 12, 2006THE average age of people going bankrupt has risen to 40 because of couples splitting up. Two years ago the average age was 29, but ...

Bankruptcy forces nine local Blockbuster stores to close
Pittsburgh Post Gazette, PA - Jul 14, 2006Nine area Blockbuster stores abruptly closed Thursday after the franchise operator filed for Chapter 7 bankruptcy liquidation, according to a spokesman for the ...