After the $25 billion settlement in a foreclosure fraud case on February 9, officials predict that the foreclosure crisis in Ohio will end in the near future. Because of the settlement, foreclosures in Ohio will increase, but afterwards, officials believe foreclosures will be on the downturn. The settlement will mean an increase in new foreclosure [...]
Earlier this month, TLC singer T-Boz's third bankruptcy case was dismissed. Judge James R. Sacca of the U.S. Bankruptcy Court in Atlanta agreed with creditors that the singer was not making enough of an effort to resolve her bankruptcy. According to the court, T-Boz had not submitted documents required for the bankruptcy process, paid off [...]
This week, actor Gary Busey, 67, filed for Chapter 7 bankruptcy at a court in California. The actor has been in more than 70 films, including "Point Break" and "Lethal Weapon." More recently, Busey has participated in the reality television shows "Celebrity Wife Swap," "Celebrity Apprentice," and "Celebrity Rehab." Busey lists less than $50,000 worth [...]
According to data from the U.S. Bankruptcy Courts in Florida and Covington, bankruptcies filed in Northern Kentucky and Greater Florida decreased in 2011 for the first time since 2008. Last year, 10,408 bankruptcies were filed in the courts--11.9 percent fewer cases than were filed in Florida and Northern Kentucky in 2010. The courts cover Boone, [...]
Yesterday, the Florida La Salle High School boy's track and field team were honored by the Ohio House of Representatives. The team won the 2011 state track and field championship. Representative Louis Terhar honored the team and their coach, Frank Russo, for bringing the school its second-ever state track and field championship. The school's team [...]
The number of bankruptcies filed at the U.S. Bankruptcy Court Northern District of Ohio and the U.S. Bankruptcy Court Southern District of Ohio decreased by 16.8 percent in 2011. Last year, 58,846 bankruptcies were filed at the courts, while 70,724 bankruptcies were filed in northern and southern Ohio in 2010. At the southern district court, [...]
According to the U.S. Bankruptcy Court in Toledo, bankruptcies filed at the court decreased by 19 percent in 2011. In 2010, a total of 8,461 bankruptcies were filed in the 21 counties the court handles, while only 6,853 bankruptcies were filed at the court last year. Both Chapter 7 and Chapter 13 bankruptcy filings decreased [...]
The Swedish automaker Saab filed for bankruptcy Monday. The company, which started out as a fighter jet producer, has been struggling for two years to revive itself. Its last hopes rested in Chinese investors, but General Motors blocked Saab's attempt to transfer technology over. However, some experts say that the foreign loans could not have [...]
Florida's largest homeless shelter, The Drop Inn Center, is holding a raffle to raise money to help those staying at the center during the holidays. Homeless shelters typically house more people during the holidays, and the shelter has already helped 14 percent more people this year than last year. The Drop Inn Center helps 60 [...]
Last week, American Airlines parent company AMR Corp. sought bankruptcy protecting by filing for Chapter 11 bankruptcy at the U.S. Bankruptcy Court for the Southern District of New York. American Airlines officials contemplated filing for bankruptcy for ten years as the airline became unable to make a profit. Over the past decade, the company is [...]
According to the Toledo Blade, Bostleman Corp., a suburban Toledo construction firm, has filed for bankruptcy. The company has been in business for 65 years with Fifth Third Bank as its primary lender. It was reported in 2006 that their revenue was up to $140 million. The recent filing showed its assets at less than [...]
On Nov 4, novelty ice cream company, Dippin' Dots, filed for federal bankruptcy protection. The company is located in Paducah, KY, and filed in Louisville. Dippin' Dots asked the judge to continue to use cash collateral to remain in operation. According to Yahoo News, the bankruptcy will not hurt creditors including Regions Bank, which the [...]
Pennsylvania's capitol city of Harrisburg has filed for bankruptcy protection due to a failure to pay a debt on a trash-to-energy incinerator. The city's Bryn-Mawr based lawyer, Mark D. Schwartz, was against the 4-3 decision made by the city council. "This was a last resort…they’re at their wits’ end," says Schwartz. With its debt [...]
A local restaurant owner has filed for Chapter 7 bankruptcy after the closing of two Ohio restaurants earlier this year because of financial issues. The man filed for personal bankruptcy in the U.S. Bankruptcy Court in Toledo and listed his assets as $559,500 and his liabilities as $3,077,359. The man cited that the restaurant closures [...]
The consumer bankruptcy rate in 2011 in expected to be lower than the total number in 2010. In September 2011, the number of bankruptcies fell to 108,517 from 130, 329, which was the rate in September 2010. According to the National Bankruptcy Research Center, the number of bankruptcies that have been filed in the first [...]
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