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Bankruptcy News

News on Bankruptcy continually updated from thousands of sources around the net.

4 hrs ago | Business Journal

Bankruptcy: Office condo owner files Chapter 11 to halt foreclosure auction

The upcoming foreclosure auction of 14 office condos in Coral Springs was halted after their owner filed Chapter 11. PNC Bank recently won a $7 million foreclosure judgment against Lauren Enterprises, along with managing members Ricardo M. Pedrosa and Sharon Pedrosa.

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Related Topix: Foreclosures, Economics News, Coral Springs, FL

8 hrs ago | The New Zealand Herald

Bankrupt with link to Peters sues Horan

A bankrupt businessman with convictions for tax avoidance is suing independent MP Brendan Horan and RadioLive in a $650,000 defamation claim.

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Related Topix: Economics News

12 hrs ago | Wall Street Journal

Bankruptcy Judge Sanctions Girls Gone Wild...

A federal judge has slapped the Girls Gone Wild founder with a daily fine of $5,000 until he returns two luxury cars that belong to the porn business, whose famous brand was recently sold out of bankruptcy.

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Related Topix: Economics News, Opinion

16 hrs ago | CIO

Mt. Gox trustee leaves door open to revival of Bitcoin exchange

The trustee overseeing the carcass of Mt. Gox, once the world's largest trading platform for Bitcoin, told investors Wednesday that the company could be revived.

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Related Topix: Economics News, Bitcoin

20 hrs ago | ClickOnDetroit

Detroit bankruptcy plan approved, but what's next?

WE'LL COME BACK AND TALK ABOUT MORE RELIEF IN A FEW MINUTES. Devin: DETROIT'S PLAN OF ADJUSTMENT HAS THE GREEN LIGHT IT NEEDS, BUT THE BANKRUPTCY PROCESS IS FAR FROM FINISHED.

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Related Topix: Economics News

Tue Jul 22, 2014

Globe and Mail

Essar Steel Algoma mulled bankruptcy protection

"The company's current debt obligations of over $1.2-billion and annual interest expense of $113-million are unsustainable," Algoma's general counsel, Robert Sandoval, revealed in a court filing that said the steel maker rejected a proposal by one group of creditors that it file for protection under the Companies' Creditors Arrangement Act .

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Related Topix: Economics News, Financial Markets, Foreclosures

Vallejo Times-Herald

Bryman College owner with San Jose, Hayward schools files for bankruptcy

The owner of California's Bryman College chain -- with campuses in San Jose, Hayward, San Francisco and Los Angeles -- is in financial trouble and could close.

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Related Topix: Economics News, California, San Francisco County, CA, San Francisco, CA, San Jose, CA, Santa Clara County, CA

Business Journal

Glendale painting contractor Maville Interiors files for Chapter 11 bankruptcy

One of the Phoenix-area's largest painting contractors has filed for Chapter 11 bankruptcy.

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Related Topix: Economics News, Phoenix, AZ

Detroit Free Press

Bond insurers vow to fight Detroit pensioners' bankruptcy vote

Two major bond insurers that could lose billions on Detroit's bankruptcy blasted the city's plan to pay retirees more than financial creditors and vowed to fight retirees' endorsement of the deal.

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Related Topix: Economics News, Detroit, MI

WTNH

New London puts off vote on school superintendent

New London's Board of Education has postponed a planned vote to approve the contract for its new superintendent of schools.

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Related Topix: Education Etc., Economics News

Brandon Sun

Detroit says retirees and workers have approved pension cuts, a major step in bankruptcy case

Workers and retirees approved pension cuts in Detroit's bankruptcy by a landslide, the city reported Monday, a crucial step to emerging from the largest municipal insolvency in U.S. history.

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Related Topix: Economics News, St. Clair Shores, MI

Mon Jul 21, 2014

Myrtle Beach Online

Bankruptcy trustee proposes Myrtle Beach-based Beach First bank...

Beach First National Bancshares' long-running bankruptcy case could be drawing to a close with a proposed settlement between the trustee and the bank holding company's former directors, but Beach First's former shareholders likely won't have much to cheer about.

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Related Topix: Economics News, Myrtle Beach, SC

Detroit News

Expert: Detroit's bankruptcy plan could be 'more feasible'

A court-appointed expert says the city's debt-cutting bankruptcy plan is feasible, but stressed Detroit needs more municipal workers and commitment from its leadership to carry out the massive restructuring.

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Related Topix: Economics News

WYFF-TV Greenville

Summer bummer: Six Flags attendance tanks

Only 8.2 million people went to one of Six Flags' 18 parks in April, May or June.

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Related Topix: Recreation, Cedar Fair LP, Economics News

Daily Chronicle

Detroit: No water shutoffs for next 15 days

Detroit suspended its aggressive policy of cutting off water to customers with unpaid bills on Monday, the latest response to a controversy that has prompted large protests and caught the attention of the judge overseeing the city's bankruptcy.

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Related Topix: Economics News

Sunday Herald

Advocate declared bankrupt with debts of A 200k+

A leading lawyer who was subjected to death threats after sitting in judgment on Rangers has gone bankrupt with debts of more than 200,000.

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Related Topix: Economics News, Gary Allan, Country

Cellular News

Harbinger Sues FCC for $2 Billion in Damages

Philip Falcone's Harbinger Capital Partners was the lead investor in now-bankrupt LightSquared, which had planned to build a LTE network, which would have sold capacity on a wholesale basis to the other mobile network operators.

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Related Topix: Economics News

Sun Jul 20, 2014

Express India

Needed: A modern bankruptcy law for India's financial markets

From 2000 to 2010, total insolvency applications aggregated to 1,427 out of which 1,018 were filed in 2009.

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Related Topix: Economics News, 9, Prison, Home, Mortgage, Personal Finance

KHOU-TV Houston

Fun run's cancellation in US angers participants

A Utah company's cancellation of an annual fun run featuring a muddy, foamy obstacle course has left participants out of money in Nevada, Oregon and other states.

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Related Topix: Spanish Fork, UT, Economics News

The Modesto Bee

De Pere private school files for bankruptcy

The Wisconsin International School filed for Chapter 7 bankruptcy this month after notifying staff and parents by email the school was shutting down immediately, Press-Gazette Media reported Saturday.

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Related Topix: De Pere, WI, Economics News, Business News

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