AMR reports $82 million loss for August

2012-10-01T22:42:42+00:00

AMR Corp., the parent company of American Airlines, posted a net loss of $82 million for the month of August. The Fort Worth-based company, which filed for Chapter 11 bankruptcy last November, also saw a $535 million loss in short-term investments and unrestricted cash, according to BusinessWeek. A majority of the commercial airline company's losses [...]

AMR reports $82 million loss for August2012-10-01T22:42:42+00:00

Contec Holdings Ltd. files for bankruptcy

2012-09-04T19:34:35+00:00

The cable-box repair company Contec Holdings Ltd., owned by Bain Capital, has filed for bankruptcy protection due to low demands for its services. Contec officials say operations will continue as normal during the bankruptcy process, which is expected to be completed in 60 days. The Huffington Post reports that lenders have agreed to loan the [...]

Contec Holdings Ltd. files for bankruptcy2012-09-04T19:34:35+00:00

Former Oakland A’s baseball player Jose Canseco files for bankruptcy

2012-08-01T20:48:48+00:00

Former Oakland Athletics baseball player Jose Canseco has filed for Chapter 7 bankruptcy protection, according to the Las Vegas Sun. Canseco was named Rookie of the Year in 1986 and American League MVP in 1988. Canseco's bankruptcy petition lists his assets at less than $21,000 and his liabilities at more than $1.7 million. Nearly a [...]

Former Oakland A’s baseball player Jose Canseco files for bankruptcy2012-08-01T20:48:48+00:00

Dynegy Inc. more than $5 billion in debt

2012-07-09T20:30:41+00:00

Dynegy Inc., a Houston-based power company, has filed for bankruptcy protection in order to merge with its bankrupt subsidiary Dynegy Holdings as part of a reorganization plan. Last year, Dynegy had more than $5 billion in debt. According to the Wall Street Journal, the company's coal and natural gas power plants will continue to operate [...]

Dynegy Inc. more than $5 billion in debt2012-07-09T20:30:41+00:00

Dysktra pleads guilty to bankruptcy fraud

2012-07-02T20:26:31+00:00

Former New York Mets outfielder Lenny Dykstra has pleaded guilty in Los Angeles to three charges in his bankruptcy fraud case. Dykstra faces up to 20 years in prison for money laundering, concealment of assets, and bankruptcy fraud. The Sacramento Bee reports that prosecutors say Dykstra illegally destroyed, sold, or hid property worth more than [...]

Dysktra pleads guilty to bankruptcy fraud2012-07-02T20:26:31+00:00

Ritz Camera files for its second bankruptcy

2012-06-25T20:25:34+00:00

The Washington Post announced last Friday that Ritz Camera has filed for Chapter 11 bankruptcy protection, just three years after it emerged from its first bankruptcy filing. Officials say stiff competition with cellphone cameras has caused Ritz to struggle. The film and camera business plans on closing 128 of its 265 retail locations and laying [...]

Ritz Camera files for its second bankruptcy2012-06-25T20:25:34+00:00

Investigation launched into Residential Capital’s bankruptcy case

2012-06-18T20:29:09+00:00

An examiner has been appointed by a bankruptcy judge to investigate Residential Capital LLC's bankruptcy case following allegations that financial transactions between ResCap and Ally, a potential buyer of its assets, prior to its filing were improper. Reports by Reuters state that Warren Buffet's Berkshire Hathaway Inc. urged the investigation. Berkshire owns most of ResCap's [...]

Investigation launched into Residential Capital’s bankruptcy case2012-06-18T20:29:09+00:00

Tribune nears the end of its bankruptcy proceedings

2012-06-11T21:16:43+00:00

Tribune Co. is nearing the end of its three-year bankruptcy proceedings after it submitted its second reorganization plan last week. The failing newspaper, radio and television station company filed for Chapter 11 protection in 2009. Under its plan, Tribune would leave bankruptcy protection with all of its assets. Should it be approved by the court, [...]

Tribune nears the end of its bankruptcy proceedings2012-06-11T21:16:43+00:00

Jamal Lewis seeks Chapter 7 bankruptcy protection

2012-06-06T20:12:09+00:00

Former NFL player Jamal Lewis has asked the court to change his Chapter 11 bankruptcy filing to Chapter 7 in order for him to sell off his assets to pay off his debts. The former Baltimore Ravens running back filed for bankruptcy in April. According to Reuters, Lewis listed $10.6 million in liabilities and $14.5 [...]

Jamal Lewis seeks Chapter 7 bankruptcy protection2012-06-06T20:12:09+00:00

Dewey & LeBoeuf LLP files for bankruptcy protection

2012-05-29T17:25:38+00:00

One of the largest law firms in the United States, Dewey & LeBoeuf LLP, has filed for Chapter 11 bankruptcy protection this week in Manhattan. The New York-based firm has listed $193 million in assets with $245 million in liabilities. Dewey & LeBoeuf, which advised the Los Angeles Dodgers during its bankruptcy process, decided to [...]

Dewey & LeBoeuf LLP files for bankruptcy protection2012-05-29T17:25:38+00:00

Bankrupt Young Buck evicted from home

2012-05-21T20:58:25+00:00

Tennessee rapper Young Buck, 31, was evicted from his mansion following a judge's order that his home be sold to pay back the debt he owes in unpaid taxes. Young Buck, whose real name is David Darnell Brown, owes $334,000 to the IRS. Brown initially filed for Chapter 11 bankruptcy protection to put his debt [...]

Bankrupt Young Buck evicted from home2012-05-21T20:58:25+00:00

“Octomom” bankruptcy thrown out of court

2012-05-18T20:48:34+00:00

Nadya "Octomom" Suleman's Chapter 7 bankruptcy filing has been thrown out of court by a judge after Suleman failed to file the necessary paperwork, the Washington Post reports. Suleman failed to provide the current paperwork to prove she owes more than $1 million. Bankruptcy court notified the mother of 14 on Monday that she needed [...]

“Octomom” bankruptcy thrown out of court2012-05-18T20:48:34+00:00

Publishing company seeks bankruptcy protection

2012-05-14T20:46:21+00:00

The educational publishing company Houghton Mifflin Harcourt filed for bankruptcy protection last week in order to eliminate its $3.1 billion debt. The publisher's financial woes began in 2006 and 2007 when Education Media and Publishing Group borrowed heavily to acquire the company. So far more 70 percent of its creditors have approved of the proposed [...]

Publishing company seeks bankruptcy protection2012-05-14T20:46:21+00:00

$45mil bonuses approved for bankrupt Tribune Co.

2012-05-08T17:01:39+00:00

Last Friday a Delaware bankruptcy judge approved Tribune Co.'s request to pay up to $45 million in bonuses to its top 425 managers and executives. Tribune says the bonuses are appropriate and reasonable, and there has been no objections from creditors. Tribune, which owns the Chicago Tribune, the Los Angeles Times, and several other newspapers [...]

$45mil bonuses approved for bankrupt Tribune Co.2012-05-08T17:01:39+00:00

“Octomom” files for bankruptcy

2012-05-01T18:33:32+00:00

Earlier this week Nadya "Octomom" Suleman filed for Chapter 7 bankruptcy in order to pay off her more than $1 million in debt. According to her court filing, Suleman has about $50,000 in assets. Suleman owes money to her father, DirecTV, the city's water department, her children's school, and at least $30,000 in unpaid rent. [...]

“Octomom” files for bankruptcy2012-05-01T18:33:32+00:00
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