Uncategorized

The Oreck family is rallying to take back their namesake vacuum-cleaner company from private equity owners in a deal valued at $22 million—a price that founder David Oreck hints is cheaper than what he sold the business for a decade ago.

Oreck, 89, has never stately publicly how much he profited from the 2003 sale of his company. But while his three sons lead the charge to buy the company’s 96 retail stores and 250-worker manufacturing plant in Tennessee out of bankruptcy, Oreck pointed out that the value of the business has certainly fallen in recent years.

Top bankruptcy attorneys have found a new place for the scraps of leftover money from corporations that collapsed under Chapter 11 protection: their own charity.

Get ready to say ‘bye, ‘bye, ‘bye to the bankruptcy case of imprisoned boy-band manager Lou Pearlman.

Six years after the creator of ‘N Sync and the Backstreet Boys was forced into bankruptcy (and later prison), a creditor-payment plan is expected to be ready for court approval as soon as this summer.

An independent examiner investigating Residential Capital LLC’s relationship with parent Ally Financial Inc. is set to release his report Monday afternoon, Daily Bankruptcy Review reports.

Welcome to WordPress. This is your first post. Edit or delete it, then start blogging!