News

Jumping on the Bankruptcy Bandwagon, Jersey Style - Wall Street Journal

06/06/12

Despite their expletive-laden, table-throwing fights, two of America’s fieriest reality stars now share an important commonality—bankruptcy. Former “Real Housewives of New Jersey” cast member Danielle Staub filed for bankruptcy ...

[more]

Strauss Auto shuts stores and files for Chapter 11 - NorthJersey.com

06/06/12

Strauss Discount Auto has filed for Chapter 11 bankruptcy protection for the fourth time, closing 46 of its stores, according to Bloomberg News. The latest Chapter 11 petition was filed was made in Newark, Bloomberg reported. The company, now ...

[more]

Calif. City's Lawmakers Ready Bankruptcy Plan - NewsMax.com

06/06/12

A California city that has the second-highest foreclosure rate in the nation is preparing for a possible bankruptcy filing if officials are unable to broker a deal with the city's creditors. Stockton would become the nation's largest city ever ...

[more]

Jamal Lewis Bankruptcy: Former NFL Star’s Bankruptcy Hearing Rescheduled - The Inquisitr

06/06/12

According to CBS, Lewis, who retired from the NFL in 2009 after nine seasons with the Ravens and Cleveland Browns, filed for Chapter 11 bankruptcy protection back in April after being unable to liquidize his assets in a way that would allow him ...

[more]

The ins-and-outs of Chapter 11 - The Business Journal

06/06/12

Chapter 11 bankruptcy reorganizations, the recession was full of them. There was no industry type that remained immune to the hardships of the recession and many found themselves in the bankruptcy court working out debt to avoid closure.

[more]

Bankruptcy Fees: The $1,800-an-Hour Ted Olson Edition - Wall Street Journal

06/06/12

Court filings in bankruptcy cases provide a rare glimpse at how much top lawyers charge for their services—prices that regularly exceed $1,000 an hour, to the dismay of some at the Justice Department who want firms that work on big bankruptcy ...

[more]

Jamal Lewis’ bankruptcy hearing postponed - YAHOO!

06/06/12

Last month, Lewis' appointed bankruptcy trustee asked for a dismissal of the case of a reclassification from Chapter 11 to Chapter 7. That change would mean Lewis' assets would be sold off to creditors. The former All-Pro back listed $14.5 million in ...

[more]

Local KFCs, Buffalo Wild Wings closed in bankruptcy case - Times Herald-Record

06/06/12

Four KFCs in the region and the Buffalo Wild Wings in the Town of Ulster were shuttered Monday night after a judge signed off on their operator’s bankruptcy plan. Headlee Management owned nine chain and fast-food restaurants, including KFCs in ...

[more]

Tribune set to emerge from bankruptcy - Financial Times

06/06/12

Complex, messy and ripe for litigation From the onset, Tribune’s bankruptcy was complex, messy and ripe for litigation, writes Nicole Bullock. Contention centres on allegations over the role that the 2007 buyout played in its failure, a legal matter ...

[more]

Alabama county creditors need 2nd try on panel-judge - Reuters UK

06/06/12

BIRMINGHAM, Ala., June 6 (Reuters) - The judge overseeing the $4.23 billion bankruptcy case of Alabama's Jefferson County on We dnesday ordered creditors to take a second run at forming a panel to represent low-priority creditors in expected ...

[more]