News Topic: Chapter 9

Struggling to figure out how to sell DVDs and CDs in a download-driven world, Toronto-based movie and music seller Cinram International Inc. has filed for bankruptcy protection while its executives move to sell its operations. Read the Daily Bankruptcy ... Read full article

Camera retailer Ritz Camera & Image LLC filed its second Chapter 11 bankruptcy petition since 2009. Read the Daily Bankruptcy Review Small Cap article here . ... Read full article

The holding company behind the failed First Regional Bank in Los Angeles, whose $2.18 billion in assets were seized by federal banking regulators nearly 18 months ago, has filed for bankruptcy protection with just a fraction of that amount—$1.3 ... Read full article

Reuters Warren Buffett holds a Dairy Queen ice cream bar and answers reporters’ questions before the Berkshire Hathaway annual meeting in April 2011.  Wa ... Read full article

A U.S. federal judge refused Wednesday to enforce Mexican glassmaker Vitro SAB’s controversial debt restructuring in a closely watched bankruptcy case that threatened to sever the cross-border business cooperation between the two nations’ legal systems. ... Read full article

Former Boston Red Sox pitcher Curt Schilling’s videogame company, 38 Studios LLC, filed for Chapter 7 bankruptcy liquidation. Read the Daily Bankruptcy Review article via The Wall Street Journal . ... Read full article

Getty Images A judge on Tuesday ruled largely for Barclays PLC in the bank’s ongoing dispute with the trustee unwinding Lehman Brothers Holdings Inc.’s brokerage stemming from Barclays’ 2008 purchase of the brokerage, a decision th ... Read full article

Getty Images The Justice Department has grown increasingly restless with attorney fees—often exceeding $1,000 an hour—paid by companies going through a bankruptcy reorganization. ... Read full article

Creditors of Pemco World Air Services Inc. are demanding that the company’s majority owner, private equity firm Sun Capital Partners Inc., pay back two years’ worth of management fees. Read the DBR Small Cap article here . ... Read full article

RG Steel LLC filed for Chapter 11 bankruptcy protection Thursday, days after admitting it was “confronted with an immediate, unexpected liquidity crisis.” Read the Daily Bankruptcy Review article here . ... Read full article

LightSquared’s biggest lenders are questioning the company’s ability to clear regulatory hurdles and build out its high-speed wireless network, steps on which its viability depends. Read the Daily Bankruptcy Review article here . ... Read full article

Alabama lawmakers refused to throw struggling Jefferson County a financial lifeline with a bill that would have allowed it raise millions of dollars in taxes. The move would have helped the county plug holes in its general fund and ease it out of ... Read full article

Lehman Brothers Holdings Inc. lashed out at Sam Zell's deal with banks to extend Zell's option to buy their remaining stake in Archstone. ... Read full article

Alabama’s constitution makes it nearly impossible for counties to raise taxes without state approval, a situation that has complicated efforts to bring debt-laden Jefferson County out of the largest bankruptcy in municipal history. Read the Daily ... Read full article

Aircraft manufacturer Hawker Beechcraft Inc. sought bankruptcy protection Thursday, after striking a deal with creditors to swap some $2 billion in debt for control of the reorganized company. Read the Daily Bankruptcy Review article via The Wall Street ... Read full article

Bloomberg Some days it’s tough to be Mark D. Schwartz, Esq. ... Read full article

Alabama’s top court ruled that the state’s struggling cities and counties have the power to file for Chapter 9 bankruptcy protection, a decision that largely frees the state’s most populous metropolitan area to move ahead with its five-month-old ... Read full article

Opposing lawyers for Jefferson County, the debtor in the largest Chapter 9 municipal bankruptcy case ever filed, and the holders of its sewer warrants squared off last week in the ongoing fight over control of the County’s sewer system and the right to ... Read full article