News

Tax rebates boost bankruptcies and why this isn't a bad thing - EurekAlert

03/22/12

New research reveals how bankruptcy-related costs force families to delay filing until they get their tax return, and that new bankruptcies may actually help the economy Many cash-strapped American families are waiting on their tax rebate to file for ...

[more]

Hotel Indigo affidavit: Hotel on verge of foreclosure or bankruptcy - The Business Journal

03/22/12

In a March 13 motion for a court-appointed receiver in the case, CCM sites an affidavit from Scott Lumley that warns the hotel is on the verge of bankruptcy with inadequate cash flow of between $5 and $7 million. That affidavit, according to ...

[more]

Kodak Ka-Ching - Wall Street Journal

03/22/12

Monday marked the three-month anniversary of Eastman Kodak Co.’s Chapter 11 filing, so it’s about time for the imaging company’s attorneys and advisers to be calling for their first paychecks. Bankruptcy Beat has the fee requests—let’s ...

[more]

American Airlines, in bankruptcy process, likely to ask judge to cancel union labor contracts - Washington Post

03/22/12

One of American’s lead lawyers in the bankruptcy case, Harvey Miller, said Thursday that the company and unions have bargained in good faith, but he doesn’t expect them to reach compromises.

[more]

Prescott race track heading for auction block - AZCentral.com

03/22/12

The judge agreed Wednesday with the bankruptcy trustee's request to expedite the hearing ... if there are delays in getting the track sold. The facilities for sale include 125 acres housing the one-mile horse racetrack, the 93,000-square-foot ...

[more]

Charles Street AME Church auction postponed until July after bankruptcy filing - Boston Globe

03/22/12

The auction of the Charles Street African Methodist Episcopal Church, originally scheduled for Thursday morning, has been postponed until summer after the church filed for federal bankruptcy protection. The auction company, Paul E. Saperstein Co ...

[more]

Report: AMR to ask bankruptcy court to void 9 labor contracts - The Business Journal

03/22/12

It is seeking to cut $1.25 billion in annual labor costs through its bankruptcy case. The company's plan includes roughly 13,000 job cuts, the closure of it maintenance base at Alliance Airport in Fort Worth and other measures.

[more]

Trustee in Holley Bankruptcy Says She's Found Assets - The Ledger

03/22/12

BARTOW | Former Lakeland car dealer Michael Holley's personal bankruptcy case has hit a snag. He's seeking to wipe away an estimated $31 million in personal and corporate debt under Chapter 7, saying he has no means to repay it. But a trustee ...

[more]

Trustee in Holley Bankruptcy Says She's Found Assets - The Ledger

03/22/12

BARTOW | Former Lakeland car dealer Michael Holley's personal bankruptcy case has hit a snag. He's seeking to wipe away an estimated $31 million in personal and corporate debt under Chapter 7, saying he has no means to repay it. But a trustee ...

[more]

Trustee in Holley Bankruptcy Says She's Found Assets - The Ledger

03/22/12

BARTOW | Former Lakeland car dealer Michael Holley's personal bankruptcy case has hit a snag. He's seeking to wipe away an estimated $31 million in personal and corporate debt under Chapter 7, saying he has no means to repay it. But a trustee ...

[more]