News

NC furniture company to use basics to spark return - WRAL

05/01/12

The company, based in Lexington, filed for Chapter 11 bankruptcy on March 5, when it listed nearly twice as much debt ($6.89 million) as assets ($3.65 million). It had 101 employees as of March 31, according to a report filed Thursday. Linwood was formed ...

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Dodgers sale finalized; Magic now among owners - YAHOO!

05/01/12

The sale was part of a reorganization plan after McCourt took the team into bankruptcy last June. A federal judge approved the deal last month. The sale was supposed to close Monday, the day McCourt was to make a $131 million payment to former wife Jamie ...

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New bankruptcy filings off in area from year ago - Toledo Blade

05/01/12

The number of cases filed in U.S. Bankruptcy Court in Toledo last month fell by 20 percent, to 577, from 697 in the same period a year earlier. The year-over-year decline was the 23rd in the past 25 months, the court, which covers 21 counties ...

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'Octomom' Files for Bankruptcy, Willing to do Porn: Report - Reuters

05/01/12

"Octomom" Nadya Suleman has filed for Chapter 7 bankruptcy and now says she's willing to do soft-core porn, ABC News reports. The mother of 14 claims she owes from $500,000 to $1 million to creditors. Some of them include Verizon Wireless ...

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Hunter Marine parent company files for Chapter 11 bankruptcy - Gainesville Sun

05/01/12

The parent company of Hunter Marine Corporation filed for Chapter 11 bankruptcy reorganization Monday in U.S. Bankruptcy Court for the District of New Jersey. Morgan Industries Corporation is the parent company of Alachua-based sailboat and ...

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American labor chief to leave as airline pares job cuts in latest union offer - Miami Herald

05/01/12

American filed for bankruptcy on Nov. 29, in part because of labor expenses it said were more than $800 million a year above those of peers that had used Chapter 11 to shed costly obligations such as pensions and retiree medical benefits.

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Veteran Attorneys Launch Firm McDonnell Crowley, LLC - The Star-Ledger - NJ.com (blog)

05/01/12

a boutique bankruptcy law firm. Founded by John “Jack” M. McDonnell, who is both a lawyer and a Chapter 7 Bankruptcy Trustee, and Brian T. Crowley, a skilled bankruptcy attorney, the firm is built around the desire to provide sophisticated ...

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Law Enforcement Associates to shut down - The News & Observer

05/01/12

The company has changed its bankruptcy filing from Chapter 11 to Chapter 7, meaning it will be liquidated and close its doors. CEO Paul Briggs couldn’t be reached for comment Tuesday. LEA originally filed for Chapter 11 in late July.

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Bankruptcies dip in Broward, hold steady in Palm Beach County - Sun Sentinel

05/01/12

Broward bankruptcy lawyer John Bristol said he thinks there were fewer bankruptcy cases filed in April because credit card companies have lowered credit limits. Since this debt is a more manageable, it reduces the need for some people to file ...

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American streamlines management, cuts jobs - Atwonline.com

05/01/12

American Airlines (AA) parent AMR Corp., which is restructuring via the Chapter 11 bankruptcy process (ATW Daily News, March 29), on Tuesday announced it will eliminate five manager positions as part of the third phase of restructuring.

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