News

Houghton Mifflin Harcourt Emerges from Bankruptcy - Mediabistro.com

06/25/12

Thirty-two days after filing a pre-packaged bankruptcy to redistribute the company’s $3.1 billion in debt, Houghton Mifflin Harcourt has emerged from bankruptcy. CEO Linda K. Zecher had this statement: “We have achieved our financial restructuring ...

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Wolf Camera parent files Chapter 11, may close some stores - The Business Journal

06/25/12

Ritz Camera & Image, parent of Colorado's Wolf Camera stores, has filed for Chapter 11 bankruptcy protection and is evaluating which of its 265 stores to close. It's the second time that Beltsville, Md.-based Ritz has sought bankruptcy ...

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HMH Out of Chapter 11 - Publishers Weekly

06/25/12

After receiving court approval for its restructuring plan last Thursday, Houghton Mifflin Harcourt announced late Friday that it had completed its financial restructuring and emerged from its Chapter 11. “We have achieved our financial restructuring ...

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World's most expensive movie poster seized in bankruptcy case - MSN

06/25/12

A rare and coveted "Metropolis" movie poster -- one of only four known surviving copies from the 1927 silent classic -- has been seized as part of a Chapter 7 liquidation bankruptcy case involving its owner Kenneth Schacter, a well-known collector.

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World's most expensive movie poster seized in bankruptcy case - MSN

06/25/12

The poster had been offered for sale in March for $850,000 by Movieposterexchange.com. Estimates vary as to what it would fetch on the open market. Schacter paid a record $690,000 for it in 2005. In the bankruptcy filing, he estimates its value at just $ ...

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Bankruptcy forces 89-year-old WWII vet from home - AP - msnbc.com

06/25/12

Warren Bodeker, 89, was ordered by a bankruptcy judge to leave the home that he and his wife built in Plains. His case has gone viral on the Internet after the group Oathkeepers posted a YouTube video featuring him and wrote a sympathetic account of his ...

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The Daily Docket: Ritz Camera Enters Bankruptcy - Wall Street Journal

06/25/12

Camera retailer Ritz Camera & Image LLC filed its second Chapter 11 bankruptcy petition since 2009. Read the Daily Bankruptcy Review Small Cap article here. A federal judge approved a $40 million mortgage-backed securities settlement in a class ...

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Bankruptcy petition filers' legal advice questioned - The Business Journal

06/25/12

Maryland residents were the ninth-likeliest to not use lawyers in bankruptcy cases in 2011, according to the administrative office for the U.S. Courts. And, Eileen Ambrose of the Baltimore Sun reported, a federal courts newsletter said last week ...

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Hedge Fund Manager to Pay $405 Million in Madoff Settlement - New York Times

06/25/12

Moreover, Mr. Picard is determined that all Madoff claims should be handled through the federal bankruptcy court, not through piecemeal litigation that benefits only small groups of investors. On those grounds, Mr. Picard’s lawyers have ...

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Stockton faces end of mediation, weighs bankruptcy - Boston Globe

06/25/12

“The whole purpose of filing Chapter 9 is to avoid an uncontrolled chaotic situation,’’ he said. “Bankruptcy provides the equivalent of a pause button. It retains services and provides structure so you don’t have a bunch of lawsuits.’

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