TaxMasters files for bankruptcy, leaving tax payers in the lurch
Houston, TX- TaxMasters Inc., filed for Chapter 11 bankruptcy protection, leaving current customers in the lurch.
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Direct Air leaves passengers stranded and abruptly files for bankruptcy
Worcester, MA- Just a few days after Direct Air left thousands of passengers stranded, they have abruptly filed for bankruptcy protection in a Massachusetts court Thursday.
Supermarket chain A&P emerges from bankruptcy
The Great Atlantic & Pacific Tea Company, known as A&P, announced today that they have completed a restructuring plan and have emerged from Chapter 11 bankruptcy as a private company.
Michael Vick close to emerging from bankruptcy
Once disgraced Football star Michael Vick has nearly paid off all of his debts and is expected to emerge from Chapter 11 bankruptcy, showing that with the assistance of a bankruptcy attorney, a business or individual can turn their finances around.
Student loans, the next debt bomb, calls for bankruptcy law reform
When the housing bubble burst the American economy took a nose dive and now economists fear there is a new debt bomb is about to go off. A report released by the Fed last week showed that student loan debt reached $867 billion, with 27 percent of ...
Lawmakers and Creditors Outraged Over Bonuses for Executives of Bankrupt MF Global
Last week the trustee overseeing the bankruptcy of MF Global asked for permission to grant bonuses to top executives. This move sparked outrage among the clients whose money went missing and now lawmakers are also expressing their outrage.
Uninsured challenger of President’s healthcare law files for bankruptcy
But court records show that last fall, Brown and her husband had to file for bankruptcy, which include $4,500 in medical debt. When Brown spoke to the Los Angeles Times, she asserted that the medical bills belonged to her husband. Her bankruptcy ...
Cano Petroleum and Units file for Chapter 11 bankruptcy
Texas-based Cano Petroleum and its subsidiaries filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Northern District of Texas.
More Companies File Repeat Bankruptcies This Year
For the first two months of 2012, more companies have filed for repeat bankruptcy, often referred to as Chapter 22, has spiked this year, according to a story by Reuters.
Lehman exits bankruptcy, begins to repay creditors
The largest bankruptcy in American history is finally over as Lehman’s Holdings Inc. exits Chapter 11bankruptcy protection after 3 ½ years and drafts plans to pay off creditors.
Judge Gives Jefferson County approval for bankruptcy
Birmingham, AL- A federal bankruptcy judge in Birmingham has given Jefferson County approval to go forward with Chapter 9 debt protection, which will be the largest municipal bankruptcy in history.
Las Vegas Builder, American West, Files for Bankruptcy Protection
Las Vegas, NV- Las Vegas home-builder, American West Development Inc. filed for Chapter 11 reorganization in U.S. Bankruptcy Court. In their bankruptcy filing, American West listed their assets at $50 million or more with debts totaling $100 mill ...
Stockton takes a step closer to becoming the largest municipal bankruptcy in history
Stockton, CA- The Stockton City Council convened on Tuesday night to take a step that would make them the largest municipality to declare bankruptcy. The Council voted to stop paying creditors and municipal unions and begin the mediation process. ...
The Cliffs Subsidiary files for Bankruptcy
South Carolina-based Cliffs Club and Hospitality Service Co. LLC, filed for Chapter 11 bankruptcy protection in Tuesday. The company owns eight different housing developments in North and South Carolina built around golf courses designed by champ ...
Kodak asks New York Bankruptcy Court to Cut Retiree Benefits
Just one month after Kodak sought Chapter 11 bankruptcy protection in a New York court, they asked for permission to cut health care benefits for thousands of retirees. The Rochester, New York-based company has twice as many retired employees as ...
Elpida, Japanese Microchip Maker, Files for Bankruptcy
Japanese chip maker Elpida Memory Inc. filed for bankruptcy Monday, making it the country’s largest manufacturing bankruptcy. Elpida is the only manufacturer in Japan that produces DRAM chips which are used in cell phones and computers. Competiti ...
Stockton, California faces possible Bankruptcy
The California city Stockton will hold a hearing on Tuesday to determine if it will decide to declare bankruptcy. If Stockton decides they need the help of a bankruptcy attorney, it will be the largest municipality in history to declare Chapter 9 ...
Tech support company, CyberDefender, to sell assets in bankruptcy
CyberDefender Corp., a company that provides technical support security services, filed for Chapter 11 bankruptcy protection on Thursday. In their bankruptcy filing in a Delaware court, CyberDefender listed their debts at $42 million with assets ...
Fuller Brush Company, Manufacturer of Cleaning Products, Files for Bankruptcy
Under the Chapter 11, Fuller Brush will be able to continue operations while they pay down their debts. A bankruptcy attorney will recommend this option to a business if it doesn’t want to shut down production. Chapter 11 is generally used by cor ...
Country’s largest brokerage firm Grub & Ellis files for bankruptcy
Grub & Ellis, a commercial real estate company that started with just one office in 1958, but grew to become the nation’s largest, has filed for Chapter 11 bankruptcy. They attribute the economic crisis on the decreasing demand for commercial pro ...