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bankruptcy court


There is no way to approach the topic of personal bankruptcy without first addressing the basics. If you are considering bankruptcy as a solution to your financial problems, it can be helpful to understand what it involves and how it works. Bankruptcy is the process of paying off your debts under Chapter 7 or Chapter …

DOVER, Del. (AP) — More than two years after the Boy Scouts of America filed for bankruptcy protection amid a spate of child sex abuse allegations, a judge will determine whether to confirm its proposed reorganization plan in a trial beginning Monday. The trial in U.S. bankruptcy court in Delaware is expected to drag on …

A parcel of waterfront property that was earmarked for a $50 million condominium project on the West Bank will be sold next month after a bankruptcy court judge ordered it to be auctioned off to settle debts. The three undeveloped parcels covering approximately 3.3 acres were owned by River Street Ventures LLC, which filed for …

Acorn Sign Graphics headquarters at 4109 W. Clay St. (BizSense File) Partly because of what he says is a dispute with one of his biggest customers, a local sign company has closed and gone bankrupt. Acorn Sign Graphics filed for Chapter 7 liquidation on Wednesday and ceased operations. “While recovering from COVID and supply chain …

A year after a historic winter storm left millions of Texans without power for days, the state’s largest electric cooperative is expected to open its case in federal bankruptcy court in Houston on Tuesday, saying it was overcharged hundreds of millions of dollars by the Texas network manager. Waco-based Brazos Electric which serves 1.5 million …

The Cushman Watt Scout Center, headquarters of the Boy Scouts of America for the Los Angeles Area Council, is pictured in Los Angeles, California October 18, 2012. REUTERS/Fred Prouser Join now for FREE unlimited access to Reuters.com Register The names of companies and law firms listed above are auto-generated based on the text of the …

Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors. For a person or a company that is overwhelmed with debt, bankruptcy can represent a lifeline, allowing them to reconcile with their creditors and start afresh. For creditors, bankruptcy offers a way …

A federal bankruptcy judge ordered Receiver Larry Patrick to turn over 92.7 KREV Alameda/San Francisco, 97.7 KRCK-FM Mecca/Palm Springs, and 104.3 KFRH North Las Vegas to companies controlled by Royce International Broadcasting of Ed Stolz. California U.S. District Judge Jesus G. Bernal ordered Patrick’s appointment as receiver of the three former CHRs on July 6, …

FLUSHING, NY, February 3, 2022 /PRNewswire/ — A&G Real Estate Partners announced that the US bankruptcy court has approved the sale of Barclay Tower, a newly built 23-unit residential building in this densely populated section of queens. Sunlight Barclay TowerLLC, a newly created entity, was the winning bidder in A&G’s bankruptcy auction, acquiring the seven-story …

United States: What we read this week [January 24, 2022] January 26, 2022 Mayer Brown To print this article, all you need to do is be registered or log in to Mondaq.com. Reuters reports that a district court judge deferred to the bankruptcy court to determine whether Johnson & Johnson is entitled to the continued …

Two years after Aspirity Energy filed for bankruptcy, the US trustee tasked with liquidating the bankrupt Minneapolis energy company had owner Tim Krieger on the witness stand – under oath. But during a nearly three-hour review, Krieger frustrated the veteran bankruptcy attorney at almost every turn. Citing his Fifth Amendment right not to incriminate himself …

Vials of prescription pain relievers, hydrocodine bitartrate and acetaminopohen, 5 mg / 325 mg tablets, manufactured by Mallinckrodt, are on a shelf at a local pharmacy in Provo, Utah. REUTERS / George Frey Register now for FREE and unlimited access to Reuters.com Register Rhode Island maintains opposition to legal shield for rulers Mallinckrodt Says $ …

Automatic stay is a procedural tool in a bankruptcy case that effectively stops the efforts of creditors to collect unpaid obligations from a debtor. As we saw in more detail in our previous article, immediately after filing a bankruptcy claim, an “bankruptcy asset” is created which includes virtually all of the debtor’s assets. When filing …

A arrives at the US Bankruptcy Court for the Southern District of New York in Manhattan, New York, United States on January 9, 2020. REUTERS / Brendan McDermid Register now for FREE and unlimited access to Reuters.com Register December 30 (Reuters) – Some Chapter 11 corporate cases that made headlines in 2021 still have a …

Anyone who is a college football fan has probably watched ESPN College game day, and heard Lee Corso forcefully challenge the predictions of another College game day host with the familiar phrase – Not so fast, my friend! – and then, with a certain degree of symbolic analysis, ensure the victory of the other team. …

A plaque is displayed at the entrance to the US Southern District of New York Bankruptcy Court in Manhattan, New York. REUTERS / Brendan McDermid Register now for FREE and unlimited access to Reuters.com Register Summary Law firms Related documents Manhattan DA says Kossoff took over $ 14.6 million from customers Kossoff says his company …

A lawyer for the Diocese of Norwich told a federal bankruptcy court judge on Wednesday that he plans to file a draft bankruptcy plan by April 1 to resolve the claims of at least 70 people who say they have been assaulted sexually by priests and employees affiliated with the diocese. During the remote hearing …

Urban Commons founder Taylor Woods, who is the subject of multiple fraud lawsuits over his financial transactions, swallowed tears on the witness stand as he explained that he was forced to sell his family home in Laguna Beach and now owed millions of dollars to old friends, investors, former employees and business partners. “For three …

MIAMI, November 19, 2021 / PRNewswire / – Alpha Latam Management, LLC and certain of its affiliates that have filed voluntary requests for relief under Chapter 11 of the United States Bankruptcy Code (collectively, the “Debtors”) with the Bankruptcy Court of district of Delaware (the “bankruptcy court”) announced the approval of the proposed sale of …

MINNEAPOLIS – (BUSINESS WIRE) – November 11, 2021– Dorsey & Whitney LLP international law firm is pleased to announce that partner Monica Clark will be inducted into the American College of Bankruptcy as a member of the College’s 33rd class at its 2022 annual meeting in Denver, Colorado. Thirty-seven new Fellows will be honored and …

Vials of prescription pain relievers, hydrocodine bitartrate and acetaminopohen, 5 mg / 325 mg tablets, manufactured by Mallinckrodt, are on a shelf at a local pharmacy in Provo, Utah. REUTERS / George Frey (Reuters) – Mallinckrodt Plc filed for bankruptcy last year to resolve thousands of lawsuits accusing it of fueling the opioid epidemic, but …

Maryland Legal Alert for Financial Services The District of Maryland Bankruptcy Court recently proposed a new local rule in response to the United States Supreme Court ruling that the mere withholding of bankruptcy real estate by a creditor after the petition does not amount to an exercise of real estate control in violation of the …

A U.S. judge in the Western Pennsylvania Bankruptcy Court wants to know if the new owner of Conneaut Lake Park may have breached his purchase contract. In March, Keldon Holdings LLC purchased Conneaut Lake Park from the Conneaut Lake Park trustees for $ 1.2 million in US bankruptcy court-approved proceedings before Judge Jeffery Deller. The …

A smoldering legal dispute over a temporary increase in government fees required in Chapter 11 cases has some bankrupt debtors fighting over repayments. Debtors’ Fees fund the Department of Justice’s U.S. Trustee Program, which oversees bankruptcy proceedings in 48 U.S. states and territories. Alabama and North Carolina are the exception and operate a different bankruptcy …

Seadrill has obtained approval for its plan which includes the reorganization of its fleet of platforms (Seadrill) Posted on Oct 11, 2021, 12:48 PM by The maritime executive Seadrill has cleared another major hurdle in its efforts to come out of its second bankruptcy proceeding in the past four years. The company announced the preliminary …

CEOs who receive bonuses while their companies are on the verge of bankruptcy have drawn the ire of members of Congress who say the payments are unfair to shareholders who can be left with nothing when a company becomes insolvent. The Government Accountability Office recommends that Congress consider amending the bankruptcy code to clearly define …

Markel CATCo Investment Management, the run-off reinsurance reinsurance manager of insurance-related securities funds (ILS), faces Chapter 15 bankruptcy proceedings, with deposits made to states United who also disclosed the Danish pension fund investor PKA A / S as a major holder.Chapter 15 bankruptcy proceedings typically involve a foreign entity that affects US financial interests or …

HOUSTON, October 01, 2021– (COMMERCIAL THREAD) – Ranger Energy Services, Inc. (NYSE: RNGR) has completed the previously announced acquisition of certain assets of Basic Energy Services, Inc. and its subsidiaries through its controlled subsidiary Ranger Energy Acquisition, LLC. The assets were sold by Basic as part of its bankruptcy process. The asset purchase agreement was …

By David Pendered The former CEO of a former Turkish-American chamber of commerce, who resides in Alpharetta, has been accused of defrauding $ 9 million from investors who shared his Turkish origins, had recently arrived from Turkey and spoke little English. The Federal Bankruptcy Court for Northern Georgia is located in the Richard B. Russell …

A trader walks past a screen displaying the stock symbols for Bristol-Myers Squibb and Intelsat, Ltd. on the floor of the New York Stock Exchange, April 25, 2013. Global equity markets advanced Thursday as strong corporate earnings and data indicating the United States labor market remains resilient despite signs of a slower growth which has …

ALEXANDRIA, Virginia – (COMMERCIAL THREAD) –Judge Harlin D. “Cooter” Hale has been selected to receive the prestigious 2021 American Inns of Court Bankruptcy Inn Alliance Distinguished Service Award, which recognizes a bankruptcy judge or lawyer who has demonstrated an ongoing dedication to the highest standards of the legal profession, the rule of law, and personal …

September 26, 2021 – OAKLAND – California Attorney General Rob Bonta announced last Friday that he would appeal the Purdue Pharma bankruptcy reorganization plan, which a New York bankruptcy court approved on September 17. Through their ownership and control of Purdue, the members of the Sackler family have made billions of dollars from the sale …

Trucking lender and factoring company Instapay, alongside its parent company Flexible financing, has filed for Chapter 11 bankruptcy protection, according to court records filed with the North Texas Bankruptcy Court in Fort Worth. Flexible, headquartered in San Francisco, offers asset-based lending in the recruiting industry, while Instapay focuses on the transportation industry. Flexible’s loan product …

The company and law firm names listed above are generated automatically based on the text of the article. We are improving this functionality as we continue to test and develop in beta. We appreciate comments, which you can provide using the comments tab on the right of the page. September 22 (Reuters) – Here is …

NEW YORK, September 20, 2021 / PRNewswire / – Katten today announced that its insolvency and restructuring practice has been recognized by The M&A Advisor in five categories at the 15th annual Turnaround Awards, known as one of the benchmarks of excellence in the industry restructuring and troubled investment. Katten (PRNewsfoto / Katten) “Ours is …

A bottle of Johnson and Johnson Baby Powder is seen in an illustrative photo taken in New York City. REUTERS / Mike Segar J&J says votes were improperly traded after deadline Group of personal injury claimants defend voting changes Votes are the key to the reorganization of Imerys Talc The company and law firm names …

Well-known sportswear retailer Lorna Jane filed for Chapter 11 bankruptcy in U.S. bankruptcy court in Los Angeles, California on Thursday to cancel leases on its stores in the United States. This is a strategy previously employed by other retailers amid the Covid-19 pandemic. The Brisbane, Australia-based company said Covid-19 had “significantly limited” retail operations across …

The news last week that New York’s legendary ABC Carpet & Home had filed Chapter 11 and was about to be taken to bankruptcy court was indeed very sad. There is a plan in place for the retailer to come out on the other side of it all, but history suggests that it is never …

A LONG LEGAL chapter of the opioid epidemic in the United States, which continues to kill tens of thousands of people a year, finally came to an end on September 1 when a federal judge in New York approved Purdue Pharma’s bankruptcy plan , who developed and manufactured OxyContin, a highly addictive pain reliever product. …

Wednesday, September 8, 2021 This comes to us from a July 2021 North Carolina district court ruling overturning a $ 115,000 penalty order issued by a North Carolina bankruptcy court. The story offers a lesson and a moral. The lesson is that the bankruptcy court cannot sanction a creditor if there is an objectively reasonable …

The company and law firm names shown above are generated automatically based on the text of the article. We are improving this functionality as we continue to test and develop in beta. We appreciate comments, which you can provide using the comments tab on the right of the page. (Reuters) – After a decade on …

Tuesday, Avianca’s The board of directors has approved the filing of the reorganization plan and disclosure statement with the United States Bankruptcy Court for the Southern District of New York. Avianca says the plan is the result of negotiations with investors and other related parties and describes Avianca’s proposal to meet pre-bankruptcy obligations to creditors, …

Top photo courtesy of REUTERS / Brendan McDermid & bottom photo: REUTERS / Yuriko Nakao Summary Companies Law firms Creditors’ opposition to bonuses for bankrupt company executives has faded Debtor companies strike behind-the-scenes deals to push back public battles Pandemic without brake on bonuses DOJ’s bankruptcy watchdog often sounds the alarm bells The names of …

Rutland’s TJ and Kendra Henrickson lost their $ 30,000 wedding deposit last year when Bolton’s International Golf Club & Resort closed and declared bankruptcy. Finally, more than a year after the club filed Chapter 11 in the U.S. District of Massachusetts Bankruptcy Court in May 2020, the family’s attorney received a check from the club …

Student borrowers with certain types of private loans have moved closer to being able to pay off that debt in bankruptcy after a New York court ruling. The United States Court of Appeals for the Second Circuit on Thursday sided with student debtor Hilal Homaidan against student loan giant Navient (NAVI), which had argued that …

the News-Press regularly publishes filings with the US Bankruptcy Court for the Western District of Missouri, based in Kansas City, Missouri, and the US Bankruptcy Court for the District of Kansas, based in Kansas City, Kansas. Today’s list covers July 3-9. Applicants can apply for protection under Chapter 7 (liquidation of assets); Chapter 11 (reorganization …

Everyone is probably familiar with The Weinstein Company Chapter 11 bankruptcy (“TWC“), a former film and production studio that previously produced and distributed feature films and premium television content internationally. March 19, 2018 (the”Date of petition“), TWC was forced to file for bankruptcy following numerous malpractice claims against its co-founder, Harvey Weinstein, which disrupted TWC’s …

On July 1, Boy Scouts of America said it reached a proposed $ 850 million settlement to pay victims of abuse in the BSA bankruptcy case. The agreement includes contributions from local BSA councils, such as the Erie-based French Creek Council French Creek Council has not yet detailed what it could give; assets include Custaloga …

United States: Their Purpose Wasn’t True – NRA Bankruptcy Filings and Bad Faith July 09, 2021 Ward and Smith, Pennsylvania To print this article, simply register or connect to Mondaq.com. Bankruptcy provides a temporary sanctuary for parties seeking relief from a variety of issues – financial crisis, lawsuits, collection actions, foreclosures, foreclosures and pandemics. Filing …

MatlinPatterson Global Advisers LLC, an indebted investor who once played a major role in WorldCom Inc. bankruptcy, is now seeking Chapter 11 protection following a string of losses. Hammered by sour bets on the Brazilian airline industry, the fund on Wednesday filed for bankruptcy in New York with plans to liquidate and return capital to …

The company and law firm names listed above are generated automatically based on the text of the article. We are improving this functionality as we continue to test and develop in beta. We appreciate comments, which you can provide using the comments tab on the right of the page. (Reuters) – Here is a look …

Overview In a recent decision, In re Live Primary, LLC, 626 BR 171, 178 (Bankr. SDNY 2021), the Bankruptcy Court for the Southern District of New York has estimated that a debt of $ 6 million resulting from alleged loans to a debtor of one of its members should be requalified as participation. Although debt …

A Hertz car rental agency in Silver Spring, Maryland. Kristoffer Tripplaar / Sipa United States via AP Text size Hertz Global Holdings should come out of bankruptcy this week at an ideal time. And shareholders have everything to gain. The car rental industry is taking advantage of both the increase in domestic travel and the …

There is only one chain of theaters that has yet to reopen in Charlotte – Studio Movie Grill in the University Quarter – and its fate remains uncertain even after the company’s recent exit from bankruptcy. In addition, the owner of the cinema restaurant’s Prosperity Village site is asking the court for more than $ …

The Uniform Commercial Code was established to ensure predictability and compliance in commercial transactions. Some states have adopted non-standard UCC provisions, which create an unreliable and unpredictable market for secured creditors. In addition, statutory liens, which are liens deriving from federal and state laws, can disrupt the priority of secured creditors’ interests in a debtor’s …

Malls are dying across the country, with plenty of images and examples of decaying giants, once fashion, trading and mall pizza houses. So it wasn’t a huge surprise last week when Washington Prime Group, the company that owns Sunland Park Mall in West El Paso and many others across the country, announced that it had …

The Boy Scouts of America are on the verge of reaching a settlement with lawyers for victims of sexual abuse, marking a major milestone in the youth group’s efforts to end the largest bankruptcy case on record for child abuse, people familiar with the matter said. The Boy Scouts are set to agree on a …

Have a good day. Lordstown Motors tried to reassure the markets after the departure of two senior executives. The Education Department forgave more loans to former students of the ITT Technical Institute, which closed and filed for bankruptcy in 2016. And a Long Island retiree community has filed for bankruptcy for the second time, sporting …

June 13, 21 by John Jeffay (IDEX online) – Alex and Ani, the American start-up that has grown into a billion dollar empire on sales of spiritual and charm bracelets, has filed for bankruptcy (Chapter 11). The global pandemic has sealed its fate after payment defaults, declining sales, lawsuits, internal disputes and months of disruption …

Construction on the new Legacy in Livermore, housing and retail development, has been temporarily halted, according to a statement shared by developer Legacy Partners on social media. “Earlier this week, we were informed that Katerra, the entrepreneur for development, has filed for bankruptcy. Katerra provided both a performance and payment guarantee for the development and …

Bankruptcies are filed under the following chapter headings:Chapter 7 – Pure and simple bankruptcy: the debtor transfers non-exempt property and the debt is discharged.Chapter 11 – Allows businesses and individuals to restructure their debts to repay them.Chapter 12 – Allows family farmers to restructure their finances to avoid foreclosure liquidation.Chapter 13 – The plan is …

Investors looking for troubled businesses may have to wait a little longer as business bankruptcies hit a four-year monthly low, S&P Market Intelligence says report. The May 27 total was the lowest monthly figure since July 2017. The combined figure for the first five months of the year 210 was lower than all but two …

The move means Long Beach will have full control of the vessel and will be responsible for deciding how much to invest in critical repairs to the aging vessel. An inspection report in April determined the ship would need at least $ 23 million in critical repairs to remain viable over the next two years. …

introduction In a recent decision, Bath Iron Works Corp. vs. Congoleum Corp. (In re Congoleum Corp.), 2021 Bankr. LEXIS 10, 2021 WL 28396 (Bankr. DNJ January 4, 2021), the New Jersey District Bankruptcy Court dismissed a petition from Congoleum Corporation (the “Debtor”) for approval under Bankruptcy Rule 9019 of an agreement settlement, (the “Settlement”) between …

In a recent case, a bankruptcy court had to consider whether to allow a debtor in a Chapter 13 plan to make voluntary contributions to her pension plan. This is an interesting and important question, especially for retirement planning and retirement preparation. Indeed, saving in an employer-sponsored retirement plan with the attendant benefits – such …

Atlanta Bankruptcy Associates is a leading bankruptcy law firm. Their goal is to provide professional legal representation as well as the personal support and attention clients deserve. In addition, they venture to help people make an informed decision regarding their financial situation. That’s why, in the last update, they posted some tips for choosing the …

In this problem: First impressions: the third circuit sabotages triangular compensation in bankruptcy In In re Orexigen Therapeutics, Inc., 990 F.3d 748 (3d Cir. 2021), the United States Court of Appeals for the Third Circuit ruled prima facie that the “triangular netting” did not meet the Bankruptcy’s “mutuality” requirement Coded. [read more …] Should fairness …

SAN JOSE – Two Bay Area hotels, one in San Jose and one in San Mateo, which have been mired in bankruptcy, have struck buyers in deals that could put them back on solid financial footing as struggles economic costs linked to coronaviruses are declining. The hotels are among 18 hotels in the United States …

Law360 (May 26, 2021, 8:14 p.m. EDT) – A U.S. Bankruptcy Court judge on Wednesday said he was considering referring suspected fraud to the $ 2.4 million federal paycheck protection program to the U.S. Attorney’s Office, in a sweeping ruling on a preliminary injunction motion targeting the original sponsors of Eagle Hospitality. Judge Christopher S. …

When the Boy Scouts of America filed for bankruptcy last year and called on alleged victims of childhood sexual abuse to step forward, about 84,000 did so, with many hoping the legal process would help. to establish a financial regulation and to put an end to their hardships. But 15 months later, those who have …

File photo: Bottles of the prescription pain reliever OxyContin, 40 mg tablets, manufactured by Purdue Pharma LD, sit on a shelf at a local pharmacy in Provo, Utah, U.S. April 25, 2017. REUTERS / George Frey The Purdue Pharma bankruptcy judge on Thursday approved a deal whereby three law firms will lose $ 1 million …

HOLYOKE — The state is moving to claim ownership of the former Mount Tom quarry to stop the current owners from converting the 16-acre site into a clean-fill operation in which truckloads of soil would be dumped in the massive crater on the side of the mountain over the next 20 years. Officials with the …