Bankruptcy News

WSJ digits: Venture Bets on Online Gambling’s Future

06/22/11

Summary: U.S. Digital Gaming, a venture backed by prominent casino executives, is moving ahead with its business plan in the hopes that online gambling will become legal in the U.S.   If the embedded video does not appear above, you can view it at: blog.ch11cases.com  

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WSJ: Bridgewater Launches Largest New Hedge Fund

06/22/11

Summary: Bridgewater Associates, the world’s biggest hedge fund, just got bigger with the launch of one of the largest new funds. WSJ’s Michael Corkery talks with Kelsey Hubbard about the recovery in the hedge-fund market and what sets Bridgewater apart. If the embedded video does not appear above, you can view it at: http://blog.ch11cases.com/2011/06/wsj-bridgewater-launches-largest-new.html

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Read the Order Dismissing the Involuntary Chapter 11 Petition Filed Against Bank of America, N.A.

06/22/11

The following order dismissing the involuntary chapter 11 petition against Bank of America, N.A. was entered by Bankruptcy Judge Michael Romero (Bankr. D. Colo.) shortly after 3 p.m. on Tuesday.  For background on the involuntary filing and Bank of America’s response, please read our earlier post on the case: http://blog.ch11cases.com/2011/06/34-individuals-file-pro-se-involuntary.html To view a copy of the [...]

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Borders Group Posts $35.4 Million Net Loss for May

06/22/11

Borders Group, Inc. and its affiliated debtors filed their monthly operating report for May (1-28) yesterday with the bankruptcy court in New York.  Borders, which filed for bankruptcy protection in February, is seeking buyers for its assets, with the expectation that the companies’ future will be decided in the next few weeks. Among the highlights [...]

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Former Wilkes Bashford Company Asks Court to Convert Bankruptcy to Chapter 7, Remaining Unsecured Creditors Likely to Receive Less than 1% Recovery

06/21/11

Summary: Last Thursday, TWBC, Inc. filed a motion asking the bankruptcy court in San Francisco to convert its chapter 11 bankruptcy case to chapter 7.  The company was formerly known as The Wilkes Bashford Company and operated a chain of high-end luxury retail stores in Northern California for over 30 years.  However, Wilkes Bashford’s sales [...]

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Signature Styles (Spiegel, Newport News & Shape Fx Brands) Creditors’ Committee Appointed, Selects Proposed Counsel

06/21/11

Summary: The United States Trustee filed a notice with the bankruptcy court on Friday which identified the creditors which have been appointed to the Official Committee of Unsecured Creditors in the chapter 11 bankruptcy cases of Signature Styles, LLC and Signature Styles Gift Cards, LLC. Those companies, which collectively operate a catalog and internet retailer [...]

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Social Media Poses Trap For Bankruptcy Debtors

06/20/11

I really liked this post on Georgia attorney Jonathan Ginsburg’s bankruptcy blog about how debtor’s Facebook posts could jeopardize their bankruptcy case.

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34 Individuals File Pro Se Involuntary Chapter 11 Bankruptcy Petition Against Bank of America, N.A.; Bank of America Quickly Responds & Asks for Immediate Dismissal

06/20/11

On Friday at about 5:00 p.m. local time, 34 individuals (from the court filings, it appears not represented by counsel) filed an involuntary chapter 11 bankruptcy petition against Bank of America, N.A. (a banking subsidiary of Bank of America Corporation (NYSE: BAC)).  In the petition, the individuals assert claims against Bank of America of between [...]

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The Point of Consumer Bankruptcy: Starting Over

06/16/11

Is Consumer Bankruptcy Pointless? A recent Forbes article by attorney, Stephen J. Dunn, titled “Consumer Bankruptcies Do More Harm Than Good” has caused quite a stir in the bankruptcy world. Mr. Dunn makes, what he believes to be, a compelling case against consumer bankruptcy and unapologetically calls most filings entirely pointless. Since the article appeared [...]

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Linden Ponds, Inc. & Hingham Campus, LLC File for Chapter 11 Protection in Texas

06/15/11

Affiliated entities Linden Ponds, Inc. and Hingham Campus, LLC voluntarily filed for chapter 11 protection earlier today in Dallas.  The companies, which are related to Senior Living Retirement Communities LLC (formerly known as Erickson Retirement Communities, LLC), operate Linden Ponds which is a 108-acre continuing care retirement community located inHingham, Massachusetts (approximately 20 miles outside of Boston).  As of [...]

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