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Bankruptcy Process News

• Bankruptcy hearing is a fact-finding meeting before a court trustee
  After a bankruptcy has been filed, a hearing in U.S. Bankruptcy Court called the 341 meeting - named for a section of the bankruptcy code - is scheduled so that creditors may attend and question individuals about the debts they owe.   Read More . . .
  
  
  
• Bankruptcy cases can be amended to allow for additional debts
  People who have decided to file bankruptcy often are confused about what debts can or cannot be included in their petition to the U.S. Bankruptcy Court.   Read More . . .
  
  
  
• Wage garnishment on unsecured debts can be stopped by bankruptcy filing
  Wage garnishment is allowed on long-term debt only by court order, but in most cases, it can be stopped once an individual files for bankrupty.   Read More . . .
  
  
  
• Bankruptcy filing doesn't take away right to receive Social Security payments
  Older Americans who are in financial straits may be wary of filing bankruptcy because they believe they will have to give up their Social Security benefits.   Read More . . .
  
  
  
• Bankruptcy can affect credit rating for many years after case is filed
  The effects of bankruptcy don't end when the U.S. Bankruptcy Court has made a ruling on an individual or company's bankruptcy case.   Read More . . .
  
  
  
• Understanding 'secured' or 'unsecured' debt is important in bankrupty planning
  Knowing the difference between "secured" debt and "unsecured" debt can help people who are considering filing for bankruptcy to understand how a bankruptcy court will handle their property and money that is owed on it.   Read More . . .
  
  
  
• Filing for bankruptcy has 'automatic stay' to stop bill collectors' telephone calls
  For many people who find themselves deeply in debt, one of the worst experiences they can have is the barrage of telephone calls from bill collectors. While no one has the right to be abusive to debtors or to harass them incessantly, there are guidelines that govern such calls.   Read More . . .
  
  
  
• Workflow One moves closer to Chapter 11 bankruptcy exit
  This week, a U.S. bankruptcy court in Norfolk, Virginia, approved a reorganization plan by Workflow One, and as a result, the company could emerge from court protection in the coming days.   Read More . . .
  
  
  
• New York- based Jennifer Convertibles announces bankruptcy exit
  After filing for bankruptcy earlier this summer, Woodbury, New York-based furniture provider Jennifer Convertibles has formally exited protection.   Read More . . .
  
  
  
• West Virginia news provider files for bankruptcy
  This week, Wayne County Publications, which owns and operates the Wayne County News, a West Virginia media provider, filed for Chapter 11 bankruptcy.   Read More . . .
  
  
  
• Bankruptcy claims trading declines to 18 month low
  Due in part to declines in the number of large businesses filing for court protection from creditors, the number of bankruptcy claims traded in January dropped to the lowest level observed since July 2009.   Read More . . .
  
  
  
• Home furnishing company files for bankruptcy
  Robb and Stucky Limited, one of North America's largest home furnishing and interior design companies, filed for Chapter 11 bankruptcy protection this week.   Read More . . .
  
  
  
• Giordano's pizza chain files for bankruptcy
  The Chicago, Illinois-based pizza chain Giordano's announced it filed for Chapter 11 bankruptcy this week.   Read More . . .
  
  
  
• Oriental Trading announces bankruptcy exit
  Due in part to recent increases in revenue, party supplies retailer Oriental Trading Co. announced it has emerged from Chapter 11 bankruptcy protection this week.   Read More . . .
  
  
  
• Advanced Disinfection files for Chapter 7 liquidation
  On February 7, Advanced Disinfection Technologies filed for Chapter 7 bankruptcy in a U.S. bankruptcy court.   Read More . . .
  
  
  
• Owner of six South Carolina KFC franchises to enter bankruptcy
  STL Management, the owner and operator of six KFC restaurants in the Charleston, South Carolina, region filed for bankruptcy this week.   Read More . . .
  
  
  
• Round Table Pizza to enter bankruptcy reorganization
  The Concord, California-based restaurant chain Round Table Pizza announced this week it is entering into Chapter 11 bankruptcy protection to reorganize its finances.   Read More . . .
  
  
  
• Florida bridge may soon declare bankruptcy
  The Garcon Point Bridge, which was opened in 1999 and crosses Florida's East Bay, could soon enter into bankruptcy protection.   Read More . . .
  
  
  
• South Edge bankruptcy petition approved
  Las Vegas, Nevada, bankruptcy judge Bruce Markell approved an involuntary bankruptcy petition filed against South Edge, a Nevada-based housing developer, this week.   Read More . . .
  
  
  
• High profile Michigan chef files for bankruptcy
  Michigan-based restaurateur and chef Matt Prentice filed for Chapter 7 bankruptcy this week in a U.S. bankruptcy court in Detroit.   Read More . . .
  
  
  
• Allcare Dental may soon file for bankruptcy
  Allcare Dental, a defunct chain with branches in 13 states, is preparing to file for bankruptcy after it was recently forced to shut down due to fiscal problems.   Read More . . .
  
  
  
• Hawaii resort to file for bankruptcy
  The Grand Wailea Resort Hotel and Spa filed for Chapter 11 bankruptcy in a courtroom this week, along with four other luxury resorts in the area.   Read More . . .
  
  
  
• Global General files for bankruptcy in the U.S.
  Global General and Reinsurance Company, a London, England-based policy writer, filed for Chapter 15 protection in a U.S. bankruptcy court in New York.   Read More . . .
  
  
  
• Rugged Bear announces bankruptcy filing
  Rugged Bear Co., a Norwood, Massachusetts-based chain of children's clothing stores, filed for Chapter 11 bankruptcy protection this week.   Read More . . .
  
  
  
• New Jersey governor says it's too early for state bankruptcies
  New Jersey Governor Chris Christie appeared on radio talk shows and morning television programs this week, and used the platform to discuss recent proposals that would make it easier for states to declare bankruptcy.   Read More . . .
  
  
  
• Vallejo to submit bankruptcy exit proposal this week
  The city of Vallejo, California, plans to submit a proposal to a federal bankruptcy judge this week that would help it exit protection.   Read More . . .
  
  
  
• Fair Point announces it will exit bankruptcy
  A year after filing for bankruptcy, FairPoint Communications received approval to exit its Chapter 11 protection.   Read More . . .
  
  
  
• California city may soon need to file for bankruptcy
  Bell, California may soon need to file for a municipality bankruptcy, following the release of information on a number of financial woes the city is experiencing.   Read More . . .
  
  
  
• Employees can file for bankruptcy after employer bankruptcy
  Due to the recent economic recession, many businesses have been filing for Chapter 11 bankruptcy in order to restructure their operations.   Read More . . .
  
  
  
• Major national bookseller could face bankruptcy
  Borders, one of the nation's largest booksellers, started the new year by announcing it would delay payments to publishers, stoking fears in the industry that the chain could soon file for bankruptcy.   Read More . . .
  
  
  
• Florida time-share company exits bankruptcy
  An Orlando, Florida-based time-share operator that filed for Chapter 11 bankruptcy in early 2010 has announced it intends to formally exit its court-supervised bankruptcy.   Read More . . .
  
  
  
• Indiana governor supports municipality bankruptcy filings
  This week, Indiana Governor Mitch Daniels provided comments illuminating his stance on legislation allowing municipalities to declare bankruptcy.   Read More . . .
  
  
  
• California Coastal Communities plans to exit bankruptcy protection
  California Coastal Communities, a Southern California-based residential land development and home building company filed to exit its Chapter 11 bankruptcy on Tuesday.   Read More . . .
  
  
  
• Alter Communications announces bankruptcy exit
  Alter Communications, which publishes the Baltimore Jewish Times, declared this week that it will soon exit its bankruptcy reorganization.   Read More . . .
  
  
  
• Judge approves Project Homestead bankruptcy filing
  In a U.S. Bankruptcy Court this week, a nearly seven-year legal battle ended with Judge William Stocks issuing a bankruptcy approval for Project Homestead.   Read More . . .
  
  
  
• Schutt Sports asset sale approved
  The Litchfield, Illinois-based sports equipment manufacturer, Schutt Sports, won a judge's approval to sell all of its assets to Platinum Equity and Kranos Intermediate Holding this week.   Read More . . .
  
  
  
• Bankruptcies among businesses decline in 2010
  At the height of the financial crisis, many businesses were filing record-breaking bankruptcies that garnered billions of dollars in legal fees alone.   Read More . . .
  
  
  
• U.S. Vitro companies oppose bankruptcy filing
  U.S. Subsidiaries of Vitro SAB, Mexico's largest producer of glass, filed a response to an involuntary Chapter 11 petition which was submitted against them by their parent company.   Read More . . .
  
  
  
• Detroit may soon face bankruptcy, report says
  Detroit, Michigan, has been hit particularly hard by the financial crisis, and has been feeling increased pressure to cut budgets in recent years.   Read More . . .
  
  
  
• Canadian paper maker emerges from U.S. bankruptcy
  AbitibiBowater, a Canadian newsprint conglomerate formed through merger, exited its bankruptcy protection in both the U.S. and Canada on Thursday.   Read More . . .
  
  
  
• Cattle firm may face unplanned bankruptcy
  An Indiana-based firm, which is under federal investigation for bad checks on cattle purchases, could be forced into an involuntary bankruptcy following a judge's ruling.   Read More . . .
  
  
  
• C-Bass continues search for bankruptcy buyer
  Bankrupt mortgage investor Credit-Based Asset Servicing and Securitization won permission to seek higher bids for its collateral-management business this week.   Read More . . .
  
  
  
• San Diego amusement park operator files for Chapter 11
  A rent dispute between the City of San Diego, California, and the owners of Belmont Park, a Mission Beach-based amusement park, has caused the two to become embroiled in bankruptcy court.   Read More . . .
  
  
  
• Kentucky Orchestra files for bankruptcy
  The Louisville, Kentucky, Orchestra filed for Chapter 11 bankruptcy on Friday in order to seek protection from creditors.   Read More . . .
  
  
  
• Washington Mutual faces bankruptcy plan attack
  Lending giant, Washington Mutual defended its plan to repay bankruptcy creditors in a courtroom on Thursday, marking the start of the final hearing in the embattled bank's long liquidation.   Read More . . .
  
  
  
• Courts approve MGM studio's prepackaged bankruptcy
  After nearly 18 months of bankruptcy and uncertainty, Metro-Goldwyn Mayer, one of Hollywood's oldest and most prestigious movie studios, was cleared to enter into its prepackaged restructuring on Wednesday.   Read More . . .
  
  
  
• CB Holding files for bankruptcy
  The New Jersey-based company that owns and operates Charlie Brown's Steakhouses, and Bugaboo Creek restaurants, announced this week that it has filed for bankruptcy protection.   Read More . . .
  
  
  
• Yellow page publisher files for bankruptcy
  Local Insight, the fifth-largest U.S. publisher of yellow pages directories, filed for bankruptcy on Thursday.   Read More . . .
  
  
  
• Innkeepers allowed to keep control of bankruptcy case
  Innkeepers USA, a Palm Beach, Florida real estate trust, won permission to keep control of its bankruptcy case until the end of January.   Read More . . .
  
  
  
• Trico seeks lawsuit against a bankruptcy lender
  Trico Marine Services has asked a Wilmington, Delaware, judge to prevent one of its bankruptcy lenders from interfering with a proposed sale.   Read More . . .
  
  
  
• Rhode Island casino exits bankruptcy
  The Twin River Casino emerged from Chapter 11 bankruptcy on Tuesday, a year and a half after it filed for protection.   Read More . . .
  
  
  
• WaMu bankruptcy exit could be delayed
  Investors who bought $1 billion worth of Washington Mutual securities are pledging to fight the company's bankruptcy reorganization plan.   Read More . . .
  
  
  
• Former Steeler's belongings set for bankruptcy auction
  Dermontti Dawson, a former Pittsburgh Steelers center and Hall of Fame candidate, is now putting his personal effects on the auction block after a costly bankruptcy.   Read More . . .
  
  
  
• Bankruptcy looms over Buffalo school system
  Buffalo, New York, public school administrators have been considering bankruptcy, but recent reports say the troubled educational body is not ready to file just yet.   Read More . . .
  
  
  
• Central California City to emerge from bankruptcy
  City officials in Vallejo, California, are contemplating a way to exit the community's longstanding bankruptcy this month.   Read More . . .
  
  
  
• Yellowstone Club bankruptcy reorganization overturned
  A piece of Yellowstone Club's bankruptcy reorganization was overturned by a Butte, Montana, district judge this week.   Read More . . .
  
  
  
• Judge examines Sea Island bankruptcy plan
  A federal judge is scheduled to hear a case from Georgia's Sea Island resorts this week.   Read More . . .
  
  
  
• Airline files for Chapter 11 bankruptcy
  Gulfstream International Group filed for voluntary bankruptcy restructuring in a south Florida Bankruptcy Court on Wednesday.   Read More . . .
  
  
  
• Beach volleyball tour files for bankruptcy
  After seeing its 2010 tour cut short due to inadequate funds, the Association of Volleyball Professionals and subsidiary company AVP Tour, filed for Chapter 11 in Los Angeles, California, this week.   Read More . . .
  
  
  
• WaMu closer to exiting bankruptcy
  Shares of Washington Mutual fell Tuesday on reports that stockholders were unlikely to recover money lost in the company's two-year old bankruptcy.   Read More . . .
  
  
  
• Tribune bankruptcy adds new lawsuits
  The Tribune Company, a media publisher which owns The Chicago Tribune and The Los Angeles Times, continued its pursuit out of a bankruptcy exit this week.   Read More . . .
  
  
  
• Ambac pursues prepackaged bankruptcy
  Ambac Financial Group, a bond insurance company, announced that it is seeking a prepackaged bankruptcy agreement with its senior debt holders this week.   Read More . . .
  
  
  
• Harrisburg set to decide on bankruptcy attorneys
  Harrisburg, Pennsylvania's City Council is expected to make a decision on bankruptcy attorneys for the capital's eventual bankruptcy filing.   Read More . . .
  
  
  
• Truvo bankruptcy restructuring approved
  Truvo USA, a company which publishes telephone directories in Europe, won approval for its restructuring plan from a U.S. Bankruptcy Judge in Manhattan this week.   Read More . . .
  
  
  
• Bankruptcy woes continue for movie rental business
  A Roanoke, Virginia, movie rental chain filed for Chapter 11 bankruptcy on Thursday, in hopes to keep some of its unprofitable stores open.   Read More . . .
  
  
  
• Tribune bankruptcy plan backed by creditors
  Tribune Co., a media conglomerate that counts The Chicago Tribune and Los Angeles Times among its holdings, took an important step towards ending bankruptcy this week.   Read More . . .
  
  
  
• Freeman Guards file for bankruptcy
  Freeman Guards, the Honolulu, Hawaii, security provider, filed for Chapter 7 bankruptcy liquidation this week.   Read More . . .
  
  
  
• New York 'Betters' could emerge from bankruptcy
  New York City's Off-Track Betting Corp. has reached an agreement with its creditors, which could help end the company's bankruptcy and keep the business open.   Read More . . .
  
  
  
• General Growth bankruptcy plan approved
  General Growth Properties, the second-largest mall owner in the U.S., has gained legal approval to exit Chapter 11 bankruptcy earlier than expected.   Read More . . .
  
  
  
• GM creditor committee heads to bankruptcy court
  The creditors' committee for old General Motors, now formally Motors Liquidation Co., is set to square off against the U.S. Treasury Department this week.   Read More . . .
  
  
  
• Ski resort denied bankruptcy funds
  A federal bankruptcy judge rejected a $2 million dollar loan, which would have allowed Idaho's Tamarack Resort to continuing sending vacationing skiers down its slopes.   Read More . . .
  
  
  
• Harrisburg moves closer toward bankruptcy
  A week after openly soliciting advice from bankruptcy lawyers, the capital of Pennsylvania moved closer to filing for bankruptcy protection on Tuesday.   Read More . . .
  
  
  
• Resort founder fights bankruptcy
  Two years after the start of a bankruptcy probe into Montana's Yellowstone Club, a millionaires-only private ski and golf resort, authorities launched a formal investigation into one of the resort's founders, Tim Blixseth.   Read More . . .
  
  
  
• CIT continues refinancing
  CIT Group Inc. confirmed that it intends to redeem another $860 million worth of debt from its 2009 bankruptcy declaration, redeeming notes with interest rates greater than 10 percent.   Read More . . .
  
  
  
• Personal bankruptcy on the rise
  The number of Americans filing for personal bankruptcy has increased so far this year, to almost 1.2 million people.   Read More . . .
  
  
  
• October deadline for Tribune Co. bankruptcy
  Tribune Co., a multi-platform media giant that owns high-profile headline-makers such as The Chicago Tribune and The Los Angeles Times, made its own headlines today as it continued its rocky road out of Chapter 11 bankruptcy in a Delaware court.   Read More . . .
  
  
  
• Mediator backs Tribune restructuring plan
  A large, embattled media conglomerate may soon be one step closer to being able to exit bankruptcy.   Read More . . .
  
  
  
• Bankruptcy nears for film company
  The creditors for a large film company want it to enter bankruptcy as soon as possible, and its owner isn't putting up a fight.   Read More . . .
  
  
  
• Pennsylvania capital draws closer to bankruptcy
  Members of the council in Pennsylvania's capital are one step closer to allowing the city to file for bankruptcy.   Read More . . .
  
  
  
• Jeweler reorganization plan up for vote by creditors
  The bankrupt owner of a large chain of jewelry stores won court approval of its reorganization plan, and will allow creditors to vote on it soon.   Read More . . .
  
  
  
• Blockbuster wins loan approval
  In an effort to stay afloat as it heads through bankruptcy, Blockbuster won court approval for a loan that would allow it to pay movie studios.   Read More . . .
  
  
  
• Lehman Brothers art auction sets record
  As Lehman Brothers tries to raise money to pay back its creditors as part of its bankruptcy proceedings, it also set new records for the sale of contemporary art.   Read More . . .
  
  
  
• Philadelphia Inquirer lenders win auction for company
  After a protracted bankruptcy process, the company that controls both of Philadelphia's major daily newspapers has been sold at auction.   Read More . . .
  
  
  
• Thompson Publishing files for bankruptcy
  A major U.S. publishing company has been forced to seek Chapter 11 protection.   Read More . . .
  
  
  
• Blockbuster finally files for bankruptcy
  After months of rumors, and denials from the company, Blockbuster has finally filed for bankruptcy.   Read More . . .
  
  
  
• Blockbuster bankruptcy could come within days
  The inevitable bankruptcy filing from Blockbuster may be just hours away.   Read More . . .
  
  
  
• Ritzy resort club files for bankruptcy
  One of the most exclusive vacation clubs in the world has been forced to seek Chapter 11 bankruptcy protection.   Read More . . .
  
  
  
• Reporters barred from attending bankruptcy auction
  When a large newspaper company is sold at auction in the near future, one group won't be welcome.   Read More . . .
  
  
  
• Investor buys Blockbuster debt
  A billionaire investor intent on controlling Blockbuster's bankruptcy proceedings has swooped in and bought some of the embattled rental giant's debts.   Read More . . .
  
  
  
• Newsprint maker will emerge from bankruptcy
  The world's biggest manufacturer of newsprint says that it is on its way out of bankruptcy.   Read More . . .
  
  
  
• Bankruptcy sale for Philadelphia newspapers in question
  The ongoing bankruptcy case of the two major Philadelphia newspapers took another turn this week.   Read More . . .
  
  
  
• General Growth executives keeps job after restructuring
  The nation's second-largest mall operator will keep two of its chief executives when it exits bankruptcy.   Read More . . .
  
  
  
• How wage garnishment is affected by bankruptcy
  Before filing for bankruptcy, a consumer may have tried a variety of options to resolve their debt, wage garnishment included.   Read More . . .
  
  
  

These articles are all written by BankruptcyHome.com's great editors and contributors. If you would like to write articles for BankruptcyHome.com, please email editor[at]bankruptcyhome.com.

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