Washington, D.C. - Gift cards are popular gifts, especially during the holiday season. Under current laws, companies that go bankrupt are not required to honor the cards, but Senator Richard Blumenthal (D.Conn.) wants that to change.
New York, NY- Upon the urging of a miner’s union, a New York U.S. Bankruptcy Court Judge has moved the proceedings for Patriot coal to St. Louis, Missouri.
New York, NY-Fashion Week is in full swing and designer Betsey Johnson is celebrating in style for her birthday and her fashion line’s emergence from Chapter 11 bankruptcy.
Seattle, WA- Singer John Mayer is no stranger to controversy but usually the focus is on his love life, but now he has been named in a bankruptcy lawsuit tied to a Ponzi scheme which landed the ring leader, Frederick Darren Berg in prison for 18 ...
Wilmington, DE- Digital Domain Inc., the special effects company founded by director James Cameron filed for Chapter 11 bankruptcy protection Monday.
New York, NY- Kodak announced they will shuffling around executives and plan to let 1,000 employees go in an effort to emerge from Chapter 11 bankruptcy.
Dallas, TX- In a rare move, the pilot’s union filed an appeal, seeking to overturn the bankruptcy judge’s decision to deny American Airlines overhaul of their labor contract. Pilots wanted to come to a consensual agreement.
Schenectady, NY- Contec Holdings Ltd., a cable-box repair company which is owned by Bain Capital, filed for Chapter 11 reorganization Thursday, according to Reuters.
Los Angeles, CA- The distribution unit of Inferno Films, which produced Brad Pitt’s latest film “Killing them Softly,” filed for Chapter 11 bankruptcy
Wilmington, DE – Two private equity firms, who own Solyndra, the failed solar firm that got billions in federal loan guarantees, may benefit from the companies collapse in the form of tax breaks.
Atlanta, GA- Last week news broke that the nation’s oldest African-American college, Morris Brown was facing foreclosure and an asset auction. In an effort to keep the historical college from closing and retain their campus the administration has ...
Wichita, KS- On Friday, a bankruptcy judge denied a proposal that would award 8 executives $5.8 million in bonus while the company reorganizes their debts.
Mammoth Lakes, CA- Mammoth Lakes, one the three California cities to declare bankruptcy in the past two months has reached a settlement with creditors.
Irving, TX- Hostess Brands Inc. has sent a letter to members of the company’s largest union, asking them to consider a new contract, which calls for wage and commission cuts, and would allow the company to emerge from Chapter 11 bankruptcy.
Atlanta, GA- After Evander Holyfield lost his 54,000 sq. foot home to foreclosure, he was in dire financial straits. Now a federal bankruptcy court is forcing the five-time heavyweight champion to sell off some of his prized memorabilia in order ...
Boise, ID- Idaho state Representative Phil Hart recently declared bankruptcy, owing over half a million dollars in federal taxes, but the plan recently submitted to the U.S. Bankruptcy Court was rejected because federal prosecutors said it was “ ...
Las Vegas, NV- A fixture on the Las Vegas strip, Jerry’s Nugget, has filed for Chapter 11 bankruptcy after talks with creditors failed.
New York, NY- Medical costs in the U.S. are skyrocketing and there is no relief in sight. Though President Obama’s signature policy, the Affordable Care Act was meant to address the exorbitant costs of medical care it may be years before it makes ...
Washington, D.C. - In 1775, the Continental Congress established the post office naming beloved Founding Father Benjamin Franklin as the first Postmaster. Now, over two centuries later the U.S. Postal Service is facing financial collapse.
Stockton, CA- Just days after Stockton became the third California city to declare bankruptcy; they are facing a challenge from bond insurer MBIA Inc.