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Chapter 7 Bankruptcy News

• 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 dismiss debts, or help debtors reorganize their finances
  In the simplest terms, bankruptcy occurs when an individual or a business can no longer afford to pay their bills and may ask the courts to dismiss their obligation to pay their debts.   Read More . . .
  
  
  
• Indiana bank's bankruptcy entering the '341 meeting'
  It's been nearly two months since Evansville, Indiana-based Integra Bank filed for protection under Chapter 7 bankruptcy law, but the first meeting of creditors is now taking place.   Read More . . .
  
  
  
• Arizona race track facing lawsuit from trustee following bankruptcy filing
  The Yavapai Downs horse racetrack in Pescott, Arizona, filed for protection under Chapter 7 bankruptcy law in July but is already running into further complications.   Read More . . .
  
  
  
• Judge approves payout in financial services company's bankruptcy
  An Akron, Ohio, bankruptcy judge recently approved the $1.7 million payout in professional legal expenses and fees in the case concerning a financial services company.   Read More . . .
  
  
  
• Milwaukee real estate devloper files for Chapter 7 bankruptcy
  A real estate developer in Milwaukee's Park East area has filed for protection under Chapter 7 bankruptcy law.   Read More . . .
  
  
  
• Arkansas ice cream institution files for Chapter 7 bankruptcy
  After nearly 80 years in business, Yarnell Ice Cream of Searcy, Arkansas, has filed for protection under Chapter 7 bankruptcy law.   Read More . . .
  
  
  
• Real estate partnership in Santa Cruz, California, files for Chapter 7 Bankruptcy
  A real estate partnership based in Santa Cruz, California, recently filed for protection under Chapter 7 bankruptcy law after a project based in Georgia experienced setbacks.   Read More . . .
  
  
  
• Former electronics executive files for bankruptcy amidst gambling habits, alleged embezzlement
  A former executive of Fry's Electronics recently filed for protection under Chapter 7 bankruptcy law reporting $137 million in debt.   Read More . . .
  
  
  
• Louisiana-based retailer files Chapter 7 bankruptcy
  Vivian Alexander, a Maurice, Louisiana-based online retailer of handmade evening purses and other accessories, recently filed for protection under Chapter 7 bankruptcy law, according to The Advertiser.   Read More . . .
  
  
  
• Arizona horse racetrack files Chapter 7 bankruptcy
  The Yavapai Downs horse racetrack in Prescott, Arizona, is set to go through the bankruptcy process after its owner filed for protection under Chapter 7 bankruptcy law.   Read More . . .
  
  
  
• Integra Bank filing Chapter 7 bankruptcy with only $784,000 in checking account
  Evansville, Indiana-based Integra Bank announced plans to file Chapter 7 bankruptcy recently after federal regulators shut the bank down, according to the Evansville Courier & Press.   Read More . . .
  
  
  
• Former Oklahoma City indoor football team filing Chapter 7 bankruptcy in wake of lawsuit
  The Bricktown Brawlers, an indoor football team, is filing for protection under Chapter 7 bankruptcy law after former Oklahoma Sooner quarterback, Jason White sued the team for breach of contract, according to the Oklahoman.   Read More . . .
  
  
  
• School board president of Milwaukee Public Schools in midst of Chapter 7 bankruptcy
  The board president of Milwaukee Public Schools recently filed for Chapter 7 Bankruptcy but could be in hot water with the U.S. Trustee's Office.   Read More . . .
  
  
  
• Texas car dealership set to exit Chapter 7 Bankruptcy, leaving $5.1 million in unpaid creditor claims
  AutoPro, a car dealership located in Amarillo, Texas, filed for Chapter 7 Bankruptcy last year and is expected to exit the procedure with $5.1 million in unpaid claims to creditors, according to the Amarillo Globe-News.   Read More . . .
  
  
  
• Chapter 7 bankruptcy available in California to those who qualify
  Bankruptcy attorneys throughout California are feeling the brunt of a shaky economy as they continue to assist debt-riddled citizens with their bankruptcy filings in coordinance of California state law.   Read More . . .
  
  
  
• Texas business bankruptcy filings down, area lawyers predict more changes ahead
  Bankruptcy lawyers across the country are coping with the recent reduction in bankruptcy filings this year, but legal counsel in Texas are making due.   Read More . . .
  
  
  
• Washington American Legion Post 68 to close its doors after Chapter 7 Bankruptcy
  American Legion Post 68 located in Bremerton, Washington, has foregone reorganization and will liquidate all its non-exempt assets with a Chapter 7 Bankruptcy.   Read More . . .
  
  
  
• New York MRI trailer receives involuntary bankruptcy
  A medical company operating out of a van in the Bronx, New York, recently was forced into filing for Chapter 7 bankruptcy by its sister company.   Read More . . .
  
  
  
• Colorado community owner files for liquidation
  A developer of a Colorado community filed for Chapter 7 in U.S. bankruptcy court in Wilmington, Delaware, and will pay creditors through auctions.   Read More . . .
  
  
  
• Bankrupt financial firm may liquidate
  An already bankrupt company based in New York City may be liquidated after reporting massive losses earlier this year.   Read More . . .
  
  
  
• Maine business owners file for Chapter 7
  A business owner from Brunswick, Maine, along with his wife, recently filed for liquidation, after their company went under in January.   Read More . . .
  
  
  
• Television chef files for bankruptcy
  A chef who has a prominent role on The Food Network recently filed for bankruptcy after facing multiple suits of more than $1 million.   Read More . . .
  
  
  
• Virginia retailer files for liquidation
  An apparel retail store based in Richmond, Virginia, recently filed for Chapter 7 liquidation.   Read More . . .
  
  
  
• New Jersey company files for liquidation
  The Encore Group recently filed for Chapter 7 and will sell off its assets in order to fund its debts.   Read More . . .
  
  
  
• Colorado event center owners file for Chapter 7
  Broomfield Sports and Entertainment LLC recently filed for Chapter 7 bankruptcy, and owes local government more than $100,000.   Read More . . .
  
  
  
• Resort founder fighting bankruptcy filing
  The founder of The Yellowstone Club, a resort in Montana, is fighting his Chapter 7 filing that was forced because of three tax claims, which two have since been settled.   Read More . . .
  
  
  
• New Mexico Symphony Orchestra files for Chapter 7
  The New Mexico Symphony Orchestra has reportedly filed for liquidation, and is the third bankruptcy decision by an American musical collective in the past month.   Read More . . .
  
  
  
• Superior Bancorp considering bankruptcy
  A bank based in Birmingham, Alabama, is contemplating Chapter 7 liquidation after one of its subsidiaries was recently seized and sold off.   Read More . . .
  
  
  
• California real estate agent files for Chapter 7
  A real estate agent in Orange County, California, has filed for Chapter 7 bankruptcy.   Read More . . .
  
  
  
• California law firm may be forced into bankruptcy
  A California-based law firm may have to enter bankruptcy after receiving pressure from multiple clients.   Read More . . .
  
  
  
• New Jersey boat manufacturer files for Chapter 7
  A Mays Landing, New Jersey, yacht-building company has filed for Chapter 7 bankruptcy protection, and will pursue liquidation.   Read More . . .
  
  
  
• Illinois homebuilders file for Chapter 7
  A construction company based in Chicago, Illinois, has filed for Chapter 7 bankruptcy protection.   Read More . . .
  
  
  
• Former Pennsylvania judge files for Chapter 7
  A former judge from Harrisburg, Pennsylvania has filed for bankruptcy protection.   Read More . . .
  
  
  
• Texas developer files for Chapter 7
  The former developer of University Park in Austin, Texas, has filed for bankruptcy protection.   Read More . . .
  
  
  
• California technology company files for Chapter 7
  A Fremont, California, technology developer has filed for Chapter 7 bankruptcy due to a customer pulling out of a large project.   Read More . . .
  
  
  
• States file involuntary bankruptcy against ex-billionaire
  A former billionaire has received an involuntary Chapter 7 bankruptcy filing, after it was revealed he owed more than $2.3 million in taxes to three states.   Read More . . .
  
  
  
• Florida man files for Chapter 7 bankruptcy
  A financial planner from Venice, Florida, has filed for Chapter 7 bankruptcy after being sued by the state.   Read More . . .
  
  
  
• Syracuse Symphony Orchestra to be liquidated
  The Syracuse Symphony Orchestra has decided to file for Chapter 7 bankruptcy next week, after a decision by the organization's board members.   Read More . . .
  
  
  
• Fiesta Gas Grills files for Chapter 7 bankruptcy
  A grill company based in Dickson, Tennessee, has filed for Chapter 7 bankruptcy protection.   Read More . . .
  
  
  
• Utah bankruptcy filings rise
  Nearly 18,000 residents in Utah filed for personal bankruptcy in 2010, bringing the state up to No. 9 in the national rankings among states with the highest number of protective filings per capita.   Read More . . .
  
  
  
• Celebrity investment company files for Chapter 7 bankruptcy
  Less than one year after its founder Kenneth Starr pleaded guilty to fraudulently acquiring millions of dollars from Hollywood investors, Starr and Company and Starr Investment Advisors announced they filed for Chapter 7 bankruptcy.   Read More . . .
  
  
  
• Growth of consumer bankruptcy filings slows in 2010
  The number of consumers filing for bankruptcy in federal courts grew by 8 percent in 2010, as more than 1.5 million consumers sought protection from creditors.   Read More . . .
  
  
  
• Western New York bankruptcies decline
  While much of the country continues to report declines in the bankruptcy rate, the percentage of consumers seeking court protection in Western New York has outperformed statistics from other areas.   Read More . . .
  
  
  
• Arizona bankruptcy picture improves
  Like many Western states, Arizona has been struggling with a high number of bankruptcy filings in recent months.   Read More . . .
  
  
  
• Pennsylvania real estate owner files for Chapter 7
  In a U.S. bankruptcy court in the Middle District of Pennsylvania, the former head of Semian Real Estate Group, George Semian, filed for Chapter 7 bankruptcy.   Read More . . .
  
  
  
• Minnesota developer faces Chapter 7 bankruptcy
  The U.S. Trustee supervising Minneapolis-St. Paul, Minnesota, developer Jerry Trooien's bankruptcy case has recommended that the court convert his Chapter 11 filing to a Chapter 7 liquidation.   Read More . . .
  
  
  
• New Hampshire bankruptcy filings fall in January
  After experiencing a record number of bankruptcies at the beginning of 2010, New Hampshire saw the number of consumers seeking protective filings decline in January.   Read More . . .
  
  
  
• Law changes make Chapter 7 bankruptcy easier in New York
  Over the past several years, consumers in the Empire State who have been suffering from high mortgage payments, or credit card debt and wanted to file for bankruptcy faced more difficulties than those in other states.   Read More . . .
  
  
  
• Rochester area bankruptcy filings fall in January
  Bankruptcy filings in one area of New York continued their downward trend at the start of January, showing a nearly 20 percent decline when compared to figures from last year.   Read More . . .
  
  
  
• New bankruptcy cases fall in Hawaii
  The number of Hawaii residents seeking bankruptcy protection fell during the first month of the new year, indicating the state may soon be in for a financial turnaround.   Read More . . .
  
  
  
• Chicken plant owners not afraid of bankruptcy
  An inoperative chicken plant in Charles City, Iowa, filed for Chapter 7 bankruptcy this week before its Chapter 11 conversion was approved.   Read More . . .
  
  
  
• Minnesota residents increase bankruptcy filings in 2010
  Over the past few years, millions of Americans have suffered from debt and unemployment. As a result, many states have seen increases in the number of personal bankruptcy filings they processed in 2010.   Read More . . .
  
  
  
• Mainland Inn owner announces bankruptcy filing
  The owner of the Lower Salford, Pennsylvania, restaurant Mainland Inn announced a bankruptcy filing this week.   Read More . . .
  
  
  
• Bankruptcy numbers rise in Massachusetts
  The number of state residents filing for Chapter 7 bankruptcy in Massachusetts rose by 8.5 percent in 2010, as more than 17,000 filed for protection during the year.   Read More . . .
  
  
  
• North Carolina restaurant files for Chapter 7 liquidation
  S and W Steak and Wine restaurant, of Asheville, North Carolina, announced it is planning to file for a Chapter 7 bankruptcy this week.   Read More . . .
  
  
  
• Virginia contractor files for Chapter 7 bankruptcy
  A general contractor who ran a business based in Spotsylvania County, Virgina, filed for Chapter 7 bankruptcy this week. The filing was made in a U.S. bankruptcy court in the Eastern District of the state.   Read More . . .
  
  
  
• Bankruptcy filings fall in certain Tennessee areas
  While areas around the country, particularly West Coast states, continue to suffer from record-breaking rates of bankruptcy, certain areas of Tennessee saw year-over-year declines in 2010.   Read More . . .
  
  
  
• Los Angeles, Jacksonville lead nation in bankruptcy filings
  The federal court districts that include Los Angeles, California and Jacksonville, Florida experienced the highest number of bankruptcy filings during 2010.   Read More . . .
  
  
  
• Finest Hearth files for Chapter 7 liquidation
  The company that owned and operated Finest Hearth and Home stores announced this week that it is planning to liquidate its business assets.   Read More . . .
  
  
  
• Former North Carolina state senator files for Chapter 7
  Julia Boseman, a former state senator on the North Carolina legislature, announced this week that she is filing for a Chapter 7 liquidation.   Read More . . .
  
  
  
• Minnesota residents see minor bankruptcy increase
  While bankruptcy filings have been decreasing in recent weeks, as many consumers begin to right themselves financially, the overall number of protective filings in Minnesota rose in 2010.   Read More . . .
  
  
  
• Math Monkey Knowledge Centers files for Chapter 7
  Math Monkey Knowledge Centers, a company based in Southern Nevada that sold educational franchises, announced it will file for bankruptcy liquidation this week.   Read More . . .
  
  
  
• Minnesota businesses, residents file for bankruptcy
  During the week that ended on December 19th, several Minneapolis-St. Paul businesses and residents filed for bankruptcy protection in area courtrooms last week.   Read More . . .
  
  
  
• Bankruptcy may not mean financial ruin
  As a result of the recent economic downturn, many people have been forced to file for Chapter 7 or 13 bankruptcy in order to stave off their creditors.   Read More . . .
  
  
  
• West Coast mortgage business files for bankruptcy
  US Loan Auditors, a Rancho Cordova, California mortgage-modification company accused of improper practices with its customers filed for bankruptcy on Thursday.   Read More . . .
  
  
  
• Honolulu Symphony enters bankruptcy court
  In a federal bankruptcy court hearing on Monday, the owners of the Honolulu Symphony are planning to ask for its filing converted from a Chapter 11 to Chapter 7 filing.   Read More . . .
  
  
  
• Ohio region sees personal bankruptcy decline
  Mirroring recent national trends, northwest Ohio saw a sharp decrease in personal bankruptcies.   Read More . . .
  
  
  
• Residents of Southern Florida decrease bankruptcy filings
  Personal bankruptcy filings by South Florida residents dropped for the third month in a row in November.   Read More . . .
  
  
  
• Central Florida sees rise in bankruptcy
  Residents of the Sunshine State are making the trip to bankruptcy court in increasing numbers, according to new statistics.   Read More . . .
  
  
  
• Former Missouri town treasurer files for Chapter 7 bankruptcy
  A former treasurer of Joplin, Missouri, has filed for Chapter 7 bankruptcy protection, after being found guilty of stealing from the town funds earlier this year.   Read More . . .
  
  
  
• Former mortgage lenders file for Chapter 7
  A former president of the now nonexistent mortgage issuer Cameron Financial Group has filed for personal bankruptcy.   Read More . . .
  
  
  
• ACORN files for Chapter 7
  The Association of Community Organizations for Reform Now, an organization responsible for registering millions of voters and fighting poverty, filed for Chapter 7 bankruptcy on Tuesday.   Read More . . .
  
  
  
• Wisconsin bankruptcy filings set to outpace 2009 figures
  Wisconsin residents filed for bankruptcy at a faster rate this year, most of the filings coming under Chapter 7.   Read More . . .
  
  
  
• Milwaukee developer files Chapter 7
  Prominent Milwaukee, Wisconsin, condominium and office developer Robert Patch has filed for Chapter 7 bankruptcy protection.   Read More . . .
  
  
  
• Portland roofer files for Chapter 7
  A Portland, Maine businessman known for his local TV ads with the tag, "Keep out the rain. Call Dave Deschaine," recently filed for Chapter 7 bankruptcy.   Read More . . .
  
  
  
• Toni Braxton 'reveals' new bankruptcy
  Toni Braxton, the six-time Grammy award winning R&B singer, known for number-ones like "Unbreak My Heart," and "You're Makin' Me High," is adding another statistic to her illustrious career: a second bankruptcy.   Read More . . .
  
  
  
• Bankruptcies reaching pre-BAPCPA levels
  Since the beginning of the recession, personal bankruptcies have been occurring with increasing frequency, however a new report suggests that the figures may be reaching alarming highs.   Read More . . .
  
  
  
• Seattle school files Chapter 11
  The Seattle Language Academy, one of the city's leading foreign-language schools, filed for Chapter 11 bankruptcy in an effort to keep its doors open to students   Read More . . .
  
  
  
• Infamous gate-crashers file bankruptcy
  Michaele and Tareq Salahri rose to prominence upon infamously conning their way past the Secret Service and into President Obama’s first state dinner in 2009.   Read More . . .
  
  
  
• Western New York sees decline in August bankruptcy filings
  The total number of bankruptcy cases claimed in both the Buffalo and Rochester, New York, areas declined in August.   Read More . . .
  
  
  
• Chicago bankruptcies continue to climb
  Despite an increase in both the number of protection laws the government passed for consumers and the cost of filing, the rate of bankruptcy in the greater Chicago area skyrocketed in recent years.   Read More . . .
  
  
  
• Pennsylvania hospital headed to bankruptcy auction
  A hospital in Western Pennsylvania has been ordered to go to bankruptcy auction.   Read More . . .
  
  
  
• Debt collection firm files for Chapter 7 bankruptcy
  A company that used to specialize in collecting delinquent debt has sought protection from creditors for itself.   Read More . . .
  
  
  
• Oklahoma bankruptcies well below national average
  While bankruptcy filings in several parts of the country remain at historically high levels, much of the Midwest has been able to keep case levels low.   Read More . . .
  
  
  
• Disproportionate number of baby boomers file for bankrutpcy
  A surprising amount of baby boomers have been forced to file for bankruptcy in recent months.   Read More . . .
  
  
  
• Georgia bankruptcy rates drop
  While Georgia is among the national leaders for bankruptcy rates, that trend might be reversing itself.   Read More . . .
  
  
  
• Maryland bankruptcies continue to rise
  The number of bankruptcy filings in Maryland hit nearly 28,000 between April 1, 2009 to March 31, 2010.   Read More . . .
  
  
  
• Bowling alley not allowed to reopen after bankruptcy
  A popular bowling alley in the Cincinnati area has been told it will have to wait to open its doors again.   Read More . . .
  
  
  
• Bankruptcy filings fell in August
  After remaining flat in July, the national rate of bankruptcy filings continued to drop again in August.   Read More . . .
  
  
  
• Keeping a car when filing for bankruptcy
  When consumers file for bankruptcy, many may worry that they will lose their car in the proceedings.   Read More . . .
  
  
  
• U.S. corporate bankruptcies decline in first half of 2010
  Thanks to loosening credit markets and an improving economy, the number of corporate bankruptcies in the United States fell in the first six month of 2010.   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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