News

Bills, few options mean bankruptcy for CA city - St. Louis Post-Dispatch

07/12/12

That prompted elected officials in the city of 210,000 people to make the sudden move of authorizing the city attorney to seek federal bankruptcy protection, becoming the third California city poised to do so in less than two weeks. "The city needs ...

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Bills, few options mean bankruptcy for CA city - AP - msnbc.com

07/12/12

Penman said the city is likely to declare a financial emergency on Monday, but it was not clear when the formal bankruptcy filing would come. Marcus Nelson, owner of a local barber shop, wasn't surprised by the announcement, noting there are only three ...

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Anadarko, Tronox trial halted for settlement talks - Reuters

07/12/12

Tronox emerged from bankruptcy in February 2011 after a battle among creditors over payouts, and new Tronox shares now trade on the New York Stock Exchange. The litigation trust, which has been joined by U.S. Department of Justice and the ...

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Valence Technology files for bankruptcy protection - AP - msnbc.com

07/12/12

Battery maker Valence Technology Inc. said Thursday that it filed for Chapter 11 bankruptcy protection, in hopes of boosting its liquidity and refocusing itself on its core lithium phosphate markets. The company, based in Austin, Texas, makes lithium ...

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National Service Industries in Bankruptcy, Will Liquidate - Bloomberg

07/12/12

The company listed assets of less than $500,000 and debt of as much as $100 million in Chapter 7 documents filed today in U.S. Bankruptcy Court in Wilmington, Delaware. Chapter 7 proceedings let companies liquidate their assets while being ...

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What Chapter 11 Bankruptcy Means for Cowboy Ciao, Kazimierz and Peter Kasperski - Phoenix New Times

07/12/12

Chow Bella reported last week that Peter Kasperski of Cowboy Ciao and Kazimierz World Wine Bar filed for Chapter 11 Bankruptcy under Cowboy Ciao LLC on June 29th. In the comment section of that post, readers expressed concern that Cowboy Ciao or Kazimierz ...

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Kodak, in bankruptcy, seeks bonuses to keep executives - USA Today

07/12/12

If the bankruptcy case winds up with creditors getting 10 cents or ... Perez, for example, was eligible for as much as $8.6 million in cash in 2010, including $7.5 million in bonuses tied to the company achieving certain financial milestones.

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Judge OKs financial reorganization for The Glebe, setting course for end of bankruptcy - Roanoke Times

07/12/12

Randall Robinson is president and chief executive officer of The Glebe, which is a subsidiary of Culpeper-based Virginia Baptist Homes, which was not part of the bankruptcy filing. “We’re exhilarated,” Robinson said of the confirmation.

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UPDATE 1-Valence Technology files for Chapter 11 bankruptcy - Reuters

07/12/12

July 12 (Reuters) - Battery maker Valence Technology Inc said it filed for voluntary Chapter 11 bankruptcy to boost liquidity and focus on its core lithium phosphate business. The company said it was negotiating a debtor-in-possession (DIP ...

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Pre-bankruptcy Steps - jdsupra.com

07/12/12

In order to maximize the benefits of bankruptcy, you need to do it correctly. This entails filing for the suitable type of bankruptcy and following all instructions from your bankruptcy trustee. But many bankruptcy lawyers do not advise their clients on ...

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