News

Report: Subsidies continued for shaky airline - Associated Press

06/17/12

The parent of the discount airline filed for bankruptcy protection in March. Court documents showed the company had between $10 million and $50 million in debt and $500,000 to $1 million in assets. David S. Mackey, interim chief executive of ...

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Bankruptcy means fleeced Keddie clients will lose money - Brisbane Times

06/17/12

Mr Keddie, who lives in a $5 million eastern suburbs house and has a $3.2 million beach house, filed for bankruptcy on Friday. In July last year, for the sum of only $1, Mr Keddie transferred his half of his five-bedroom family home in Double Bay to his ...

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Illinois’ Northstar Aerospace files for bankruptcy - Arlington Heights Daily Herald

06/17/12

Northstar Aerospace (USA) Inc., a maker of aircraft gear and transmission assemblies, filed for bankruptcy protection to facilitate a sale. The Bedford Park, Illinois-based company listed assets of as much as $50,000 and debt of as much as $100 ...

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'Summer of the Shark' Chapter 11 - Patch

06/17/12

Sally Benson was sipping champagne in the first class section of a Swissair 747 enroute from New York to Switzerland. She had always enjoyed first class privileges. Spacious seats, fine wine and attentive stewards made her feel special from ...

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Mystic Days Inn goes to auction after two bids are withdrawn - TheDay

06/17/12

A court-ordered bankruptcy sale of the Days Inn of Mystic is proceeding after two bidders withdrew their $3.8 million offer for the 125-room hotel and restaurant, an attorney helping arrange the sale of the property said this week. Lori Schwartz ...

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Dan Walters: California's pension tale told in four cities - Sacramento Bee

06/17/12

which would be the largest municipal bankruptcy filing in American history. Rising pension and health care costs are big components of Stockton's insolvency, but so are many millions of dollars in bonds that the city floated in recent years to ...

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Chapter 13 Bankruptcy vs. Debt Management Programs - 24-7PressRelease.com

06/17/12

People struggling with debt may also struggle between choosing bankruptcy or a debt management plan. Learn about the benefits and drawbacks of both in the following article. June 17, 2012 /24-7PressRelease/-- Dealing with high interest credit cards ...

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With Scranton almost out of cash, bankruptcy no longer impossible - Scranton Times-Tribune

06/17/12

More importantly, ensuring citizens' "health" and "safety" appears later in the law as one reason for doing something more drastic: filing for bankruptcy. Mr. Doherty adamantly says he does not want to file for bankruptcy, and city council gives ...

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With Scranton almost out of cash, bankruptcy no longer impossible - Scranton Times-Tribune

06/17/12

More importantly, ensuring citizens' "health" and "safety" appears later in the law as one reason for doing something more drastic: filing for bankruptcy. Mr. Doherty adamantly says he does not want to file for bankruptcy, and city council gives ...

[more]

Municipal workers fear Stockton bankruptcy - Fresno Bee

06/17/12

city worker unions filed suit to block the reforms. They and other public employee unions are also pressing the Legislature to revise a newly enacted state law to make it more difficult for local governments to seek bankruptcy, fearing that a ...

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