News

United States: Chapter 9 - California And Federal Bankruptcy Law Relative Bargaining Position - Mondaq

07/09/12

On June 28, 2012, Stockton, California became the most recent municipality to file for bankruptcy under chapter 9, after having concluded a mandatory mediation process with its creditors. See, In re City of Stockton, California, Case No. 12-32118 (Bankr.

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Carl Marks Advisory Group Advises PJ Finance's Unsecured Creditors Committee To Achieve "Par" Recovery - Sacramento Bee

07/09/12

NEW YORK, July 9, 2012 -- /PRNewswire/ -- PJ Finance Company LLC, owner of 32 apartment complexes with nearly 10,000 units located in major metropolitan areas throughout the Sunbelt region, has successfully completed a Chapter 11 plan of reorganization. 

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Pennsylvania lawmakers, Harrisburg officials debate bankruptcy prohibition, Senate Bill 1263, for cash-strapped cities - PennLive.com

07/09/12

Allowing municipalities or school districts to petition for bankruptcy protection sends the wrong message; it says the state government is not fulfilling its responsibility to citizens, Pileggi said. “With the case of Harrisburg, there’s ...

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Russian airlines facing bankruptcy - PanARMENIAN Network

07/09/12

PanARMENIAN.Net - Russian airlines are facing bankruptcy over soaring operating costs ... by 11.8 percent on average in 2011 whereas aviation fuel prices soared 30.7 percent, while ground maintenance costs have risen by 119-211 percent in the past five ...

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Video Game Company’s Bankruptcy Raises Questions Over State Aid - The Epoch Times

07/09/12

Assuming no other assets are added to the bankruptcy, Rhode Island taxpayers are on the hook for around $115.9 million in loan principal, interest, and fees, resulting from the state’s loan guarantee. Further complicating the case, and raising questions ...

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Washington area bankruptcy filings for the week of July 9 - Washington Post

07/09/12

These firms recently filed with the U.S. Bankruptcy Court’s local court clerk’s offices. Under Chapter 11 of the federal bankruptcy code, a company is protected from claims by creditors while it attempts to reorganize its finances under a plan approved ...

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Bankruptcies, July 9 - Omaha World-Herald

07/09/12

Four bankruptcy categories listed: Chapter 7, bankruptcy involving liquidation of nonexempt assets; Chapter 11, plan permitting reorganization of financial affairs under court supervision for an individual engaged in business or for a company ...

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Business buzz - Herald Tribune

07/09/12

A company belonging to Holmes Beach real estate agent George DeSear has filed for Chapter 11 bankruptcy protection in order to block the sale of a rental cottage at 752 Jacaranda Road in Anna Maria. Just before the filing, Iberia Bank won a $ ...

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Freshfields, Covington, Clifford Chance: Business of Law - Businessweek

07/09/12

Key practice areas include: corporate, banking, securities, employment, litigation and dispute resolution, intellectual property, tax, trusts and estate planning, real estate and bankruptcy, the firm said in a statement. “After our successful ...

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Business calendar for St. Charles County - St. Louis Post-Dispatch

07/09/12

BUSINESS NETWORK INTERNATIONAL: Givers Gain Chapter, 11:30 a.m.-1 p.m. July 11, Bellabrations Banquet Center, 235 Jungermann Road, suite 101, St. Peters. For more information, call Mark Perry at 636-532-0100. BUSINESS NETWORK INTERNATIONAL ...

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