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Crumbs to reopen after sale

Submitted by Anonymous (not verified) on Thu, 08/28/2014 - 21:37

Crumbs Bake Shop was granted permission to sell itself to Lemonis-Fischer Enterprises in a New Jersey bankruptcy court on Tuesday, August 26th.

Lehman Brothers Inc. to Pay $4.6 Billion to Creditors

Submitted by Anonymous (not verified) on Tue, 08/19/2014 - 00:34

By Lindsay Nass
After waiting almost six years, unsecured creditors of Lehman Brothers Holdings' Inc. will finally see an initial payment of $4.62 billion next month.
Trustee, James Giddens, filed a notice August 15th regarding the distribution of owned payment to Lehman's creditors. Former employees, pension funds, banks and investment firms are among the creditors who will see money starting September 10th.

Quizno’s Files Chapter 11

Submitted by Anonymous (not verified) on Sat, 03/15/2014 - 15:09

By Mary Ann Gorman
In a week that first saw fast food pizza chain, Sbarro, file Chapter 11 bankruptcy, the trend continues. Yesterday, toasted-sub chain Quizno's Subs filed for Chapter 11 as well.
The company says not to worry as they have a plan in place.

Bankruptcy for Bitcoin’s Mt. Gox

Submitted by Anonymous (not verified) on Tue, 03/11/2014 - 23:12

By Mary Ann Gorman
Mt. Gox is in the hot seat as they were granted Chapter 15 bankruptcy protection by the U.S. on Monday. This move prevents traders in the U.S. from taking legal action against them for the current time, protecting their U.S. assets.

Bankruptcy Protection for Sbarro

Submitted by Anonymous (not verified) on Mon, 03/10/2014 - 23:25

By Mary Ann Gorman
Melville, New York-based, Sbarro, has filed for Chapter 11 bankruptcy for the second time in three years. The pizza chain has struggled with debt and competition in the marketplace.

Nickelodeon Star Files for Bankruptcy

Submitted by Anonymous (not verified) on Thu, 02/13/2014 - 18:39

By Mary Ann Gorman
Nickelodeon's Drake Bell, formerly known as "Drake" from the show Drake & Josh has filed for bankruptcy.
Drake Bell is 27 years old and has experienced an income roller coaster in the last couple of years. In 2012, Drake made $408,000, while in 2013 he brought in $14,099.
His month expenses are reportedly greater than $18,000, while his monthly income is under $3,000.

Fisker Bankruptcy on the Fast Track

Submitted by Anonymous (not verified) on Fri, 12/13/2013 - 18:55

By Mary Ann Pekara
Instead of opening their factory in the old General Motors plant in Delaware, the plug-in hybrid automaker, Fisker, found itself in bankruptcy in November and things are moving at a rapid pace.
Creditors will have until December 30th to vote on the bankruptcy plan for Fisker and the final confirmation hearing will take place on January 3rd.

Detroit Approved for Bankruptcy, Becomes Largest Municipal Filing in History

Submitted by Anonymous (not verified) on Tue, 12/03/2013 - 20:00

The city of Detroit's Chapter 9 bankruptcy filing was approved by Judge Stephen Rhodes Tuesday, officially becoming the largest municipal bankruptcy case in the history of the United States.

Can You Still File Bankruptcy in a Federal Government Shutdown?

Submitted by Anonymous (not verified) on Tue, 10/01/2013 - 19:39

Congressional gridlock over a new budget has caused an indefinitely shutdown of many government services. The good news for those struggling with debt is that all federal courts will remain open and functional during the furlough. That means that if you've recently filed a bankruptcy petition or are considering bankruptcy as a debt-relief option, you won't face any additional roadblocks.

The People of Detroit Plead Their Case

Submitted by Anonymous (not verified) on Fri, 09/20/2013 - 22:52

By Mary Ann Pekara
The city of Detroit, Michigan filed for Chapter 9 bankruptcy protection in July and is now waiting until late October for a trial.
While there has been much controversy over the situation in Detroit, one thing is for certain, the people of Detroit have a lot to say about it.

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