WSJcomBankruptcyBeat

The Trenton Titans, the Philadelphia Flyers’ minor league affiliate, is winding down in Chapter 7 bankruptcy after canceling its 2014 season.

The team—which filed for bankruptcy on March 11 with the U.S. Bankruptcy Court in Trenton, N.J., as Blue Line Sports LLC—claimed no assets and nearly $500,000 in debts in court documents. A Chapter 7 filing usually indicates a company’s intent to liquidate, as opposed to Chapter 11, which often means the company plans to continue operations and restructure its debt.

This week on The Broke and the Beautiful, Armand Assante says he’s the face of predatory lending, a trustee wants to dismiss Dionne Warwick’s debts, and the Trenton Titans hockey team files for bankruptcy.

A newly formed shareholder group is ready to rumble in Overseas Shipholding Group Inc.’s bankruptcy, arguing in its first court appearance that the shipping company’s restructuring deal doesn’t offer enough value to equity and is the product of “flawed” negotiations. Read the Daily Bankruptcy Review article via The Wall Street Journal.

Actor Armand Assante says he’s the unlikely face of predatory lending.

Alydian