Tag Archives: chapter bankruptcy

Allentown Laputka Law Office LLC Explains Pennsylvania

Allentown, U.S., Jan. 29, 2022 (GLOBE NEWSWIRE) — Laputka Law Office LLC states in a Chapter 7 Personal Bankruptcy that debtors clear their debts and start afresh. Chapter 7 bankruptcy is a liquidation where the trustee collects all non-exempt assets from the debtor and sells them. In most Chapter 7 …

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Summary of EIDL COVID – Coronavirus (COVID-19) Eligibility Conditions and Conditions

[ad_1] United States: Summary of EIDL COVID Conditions and Eligibility Requirements COVID-19 resource October 15, 2021 Lane powell To print this article, simply register or connect to Mondaq.com. The US Small Business Administration’s (SBA) recently expanded COVID-19 Economic Disaster Loan Program (COVID EIDL), which offers long-term, low-interest loans of up …

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Rabbit Ridge is going to be kicked out

[ad_1] Rabbit Ridge Winery and Vineyards in Paso Robles must vacate the property it currently occupies, according to a court order filed this week. Under the order of U.S. bankruptcy judge Mark Wallace signed Monday in Santa Ana, Rabbit Ridge must vacate the San Marcos Road premises in Paso Robles, …

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Muji is the latest retailer to file for bankruptcy

Muji, which sells minimalist home decor, stationery and clothing, filed for Chapter 11 bankruptcy in Delaware on Thursday. The company plans to use the process to emerge with a renewed focus on online sales. “Muji has felt the devastating effects of the Covid-19 pandemic on in-store retail and, therefore, will …

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First arguments heard in developer’s disputed bankruptcy

A creditor of a former Northwestern Arkansas real estate developer and his wife argued in Dallas bankruptcy court on Monday that the couple hid assets in an effort to obstruct, delay and defraud their creditors. On the first day of the trial of Bill Schwyhart and his wife Carolyn, the …

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The Family Farmer Assistance Act of 2019: Will raising the debt limit lead to increased Chapter 12 filings? | Bradley Arant Boult Cummings LLP

The United States Senate passed the “Support for Family Farmers Act 2019(HR 2336), which significantly increases the debt limit for agricultural producers seeking relief under Chapter 12 of the United States Bankruptcy Code. The bipartisan legislation, which passed the U.S. House of Representatives in June and is expected to be …

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Seadrill files for bankruptcy protection again

Offshore drilling rig contractor Seadrill has filed for bankruptcy in a court in the US state of Texas, it said on Wednesday, the second time in four years that the company has started a so-called Chapter 11 restructuring. The Oslo-listed group controlled by Norwegian-born billionaire John Fredriksen went back to …

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VR destination ‘Sandbox VR’ emerges from Chapter 11 bankruptcy after reorganization – Road to VR

Virtual reality arcades and other out-of-home VR destinations have been among the hardest-hit businesses during the COVID-19 pandemic. Sandbox VR, one of the best-funded in the industry, was no exception, as the company’s US subsidiary, Glostation USA Inc., filed for bankruptcy in August. It has now emerged that Glostation has …

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J Crew goes bankrupt, weighed down by $2 billion in debt

American fashion retail icon J Crew has collapsed under the weight of $2 billion in debt and with all 492 stores closed due to the Covid-19 outbreak. The company, founded in 1947, entered Chapter 11 bankruptcy protection this week, allowing it to restructure its debt and business operations to survive …

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Bankruptcy is an additional burden for some job seekers

WASHINGTON—Hundreds of thousands of Americans who have lost their jobs during the coronavirus pandemic may face an additional hurdle as they seek to re-enter the workforce: bankruptcy on their record. Federal law allows private employers to turn down an applicant for employment because of a prior bankruptcy filing, which employers …

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Mediation sought in Bennington Arts Center disputes | Local news

[ad_1] BENNINGTON – Parties involved in litigation related to the former Bennington Center for the Arts are moving towards a formal mediation process, which could lead to the property being put up for sale. Like other former Southern Vermont College real estate, the West Road Arts Center and Theater was …

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Student Loans and Bankruptcy: What You Need to Know | Put away student loans

[ad_1] You may have heard somewhere that student loans cannot be discharged in bankruptcy, but that’s a myth. While very difficult to do, it is possible, and you might consider going this route if you’ve exhausted all other options and meet the discharge criteria. Here’s what to know if you’re …

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SVC Enters Chapter 7 Bankruptcy Proceedings Archives

[ad_1] BENNINGTON – The former Southern Vermont College filed for Chapter 7 bankruptcy, beginning the process of liquidating campus real estate and other assets that could include auctions. David Newell, chairman of the board, said the board was dissolved and members resigned this week after approving a request from the …

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World’s second oldest airline Avianca bankrupted by coronavirus

[ad_1] (Reuters) – Avianca Holdings AVT_p.CN, Latin America’s second-largest airline, filed for bankruptcy on Sunday after failing to meet a deadline for paying obligations, as its pleas for help from the Colombian government for coronaviruses have so far been unsuccessful. If he does not come out of bankruptcy, Bogota-based Avianca …

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Cities and counties face fiscal challenges in pandemic era – American City and County

[ad_1] Even before widespread recognition that the coronavirus pandemic is likely to wreak economic havoc on national and global economies, many cities and counties across the country faced significant financial challenges. Some of these pre-existing problems included: insufficient liquidity; excessive debt burden; insufficient reserves; declining income; and the unsustainable pension …

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Dozens of buyers contemplate bankruptcy of NPC International restaurants

[ad_1] More than 50 potential buyers are eyeing at least some of the massive number of restaurants operated by bankrupt franchisee Wendy’s and Pizza Hut NPC International, paving the way for a remarkably competitive auction set to begin later this month. One of those bidders is the largest restaurant franchisee …

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Hotel bankruptcies: 8 key issues for hotel advisors | Buchalter

[ad_1] The COVID-19 pandemic has forced many hospitality professionals and their customers to face bankruptcy, insolvency and loan recovery issues for the first time since the Great Recession. Chapter 11 presents a host of unique issues for hotels and other hospitality businesses. This article highlights some key concepts of Chapter …

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Ruby Tuesday closes 185 restaurants due to COVID-19 challenges

[ad_1] Look: Inside the last St. Kilda Breakfast; bakery; and the farm-to-table restaurant is the fourth location in the St. Kilda dining lineup, which opens June 4. Register of Monks Hampered by the pandemic and facing the same long-term challenges as other casual restaurant chains, Ruby Tuesday filed for Chapter …

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Latam Airlines seeks bankruptcy protection as travel crashes

[ad_1] Latam Airlines, South America’s Largest Carrier, Calls on the United States for Bankruptcy Protection Amid Sharp Drop in Air Travel Caused by Coronavirus Pandemic Through ADAM SCHRECK Associated Press May 26, 2020, 10:33 a.m. • 4 minutes to read Share on FacebookShare on twitterEmail this article BANGKOK – South …

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The American branch of Le Pain Quotidien files for bankruptcy, sold for $ 3M

[ad_1] Dive brief: The U.S. arm of Le Pain Quotidien filed for Chapter 11 bankruptcy on Wednesday and is considering selling to Aurify Brands, subject to court approval, according to Bloomberg. Aurify brands, a franchising group, operates brands like Five Guys Burgers and Fries and Fields Good Chicken and Make …

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Northwest Hardwoods files for bankruptcy

[ad_1] TACOMA, Washington – Lumber giant Northwest Hardwoods has filed for Chapter 11 bankruptcy. “On November 23, Northwest Hardwoods and certain of its affiliates took a further step in implementing their Restructuring Support Agreement by filing voluntary Chapter 11 Bankruptcy Code relief applications with the Court of US bankruptcies for …

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Atlantic County Club Operators Cite Debt Over $ 3.7 Million

[ad_1] South Jersey sports coaches describe how their work changed during the pandemic South Jersey sports coaches describe how their job has changed during the pandemic, especially as sports have moved indoors. Chris LaChall / Personal Photographer, Cherry Hill Courier-Post CAMDEN – The operators of an Atlantic County golf course …

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SNAPSHOT: Small Businesses Break Free from Chapter 11 Burdens

[ad_1] Chapter 11 bankruptcy allows businesses to survive tough financial times. It allows debtors to negotiate with creditors and come up with a reorganization plan to pay these creditors. However, for small businesses, which make up 99% of all businesses in the United States, the advantages are outweighed by the …

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Taking the Keys: Restructuring Tips for Private Lenders

[ad_1] The Covid-19 has triggered a global recession. Chapter 11 cases are expected to be around 25% higher than last year, but that’s well below the number of cases filed in 2009 at the height of the financial crisis. Those Statistics, however, do not capture the fact that many restructurings …

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Brazos Electric Chapter 11 Bankruptcy Filing

[ad_1] Related practices and jurisdictions On March 1, 2021, Brazos Electric Power Cooperative, Inc. (“Brazos”) commenced Chapter 11 bankruptcy proceedings in the United States Bankruptcy Court for the Southern District of Texas. Brazos is a Texas-based not-for-profit electricity cooperative company that provides wholesale electricity to its members, who in turn …

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Bankruptcy Racial disparities set to add to pandemic pain (1)

[ad_1] The economic impacts of Covid-19, from job losses to business closures and relief measures, have disproportionately affected black Americans as much as the virus itself. And if history is any guide, even the bankruptcy lifeline may be ill-equipped to give many of the pandemic-ravaged black debtors a fresh start. …

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Mercy Hospital files for bankruptcy

[ad_1] Mercy Hospital and Medical Centers filed for bankruptcy on Wednesday, just months before the historic Bronzeville hospital closed its doors for good, a spokesperson confirmed. Mercy, which is owned by Trinity Health, still plans to cease operations of all of its services – except basic emergency services – on …

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Factbox: Retail casualties of the coronavirus pandemic

[ad_1] (Reuters) – Retail mogul Philip Green’s Arcadia, which owns Topshop and many other UK fashion brands, filed an administration request on Monday, Britain’s biggest corporate insolvency to date from the pandemic of coronavirus. FILE PHOTO: A man walks past signs in the windows of Lord & Taylor announcing a …

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US companies file for bankruptcy at fastest pace since 2013

[ad_1] Bankruptcy filings in the United States are proceeding at the fastest pace since 2013 as businesses buckle under the pressure triggered by the coronavirus pandemic. According to data from legal services group Epiq, a total of 3,427 companies have filed for Chapter 11 bankruptcy in the United States this …

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Bankrupt Bay Area hotels go up for sale

[ad_1] SAN JOSE – Two hotels in the Bay Area, one in the South Bay and the other in the Peninsula, are part of a set of hotels coast to coast that are being offered for sale by a bankrupt owner. Eagle Hospitality Trust, a Singapore-based real estate company, is …

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7 companies that went bankrupt because of COVID

[ad_1] As pandemic restrictions relax, bankrupt businesses are finding new life. As the pandemic swept the world in 2020, a new kind of crisis began to emerge: bankruptcies. Companies that started the year in a strong position have faced a new reality that has kept consumers confined to their homes …

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Farm bankruptcies slow, more help needed

[ad_1] Although Chapter 12 family farm bankruptcies in the first half of 2020 slowed to 284 filings, down 10 filings from the first half of 2019, to 580 filings, family farm bankruptcies are 8% above levels in the past. last year, according to data recently released by the American courts. …

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Park Plaza owner makes deal with lenders

[ad_1] Chattanooga-based CBL Properties, owner of Little Rock’s Park Plaza, recently entered into a restructuring agreement with a group of lenders to strengthen its balance sheet and keep open the more than 100 malls, squares and malls it owns. The mall owner on Wednesday presented plans to file for Chapter …

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New York court approves Windstream’s bankruptcy plan

[ad_1] A New York court on Thursday, June 25, approved Windstream Holdings Inc.’s Chapter 11 bankruptcy plan. The move is expected to allow Little Rock-based Windstream to emerge from bankruptcy as a private company in late August, the report said. society. The U.S. Southern District of New York bankruptcy court …

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National Rifle Association files for bankruptcy

[ad_1] The National Rifle Association said Friday it had filed for bankruptcy and was moving to Texas, where the organization says it has 400,000 members. The NRA is currently based in New York, where the state Attorney General Letitia James filed a complaint alleging financial crimes by its senior officials …

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Bankruptcy forecast in 2021 | Epiq

[ad_1] The US economy has had a tumultuous year. COVID-19 has prompted businesses and individuals to turn to bankruptcy in order to keep their creditors at bay. Others have delayed filing because they were able to take advantage of the pandemic relief options made available this year. Individuals were helped …

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Alamo Drafthouse Cinema declares bankruptcy

[ad_1] Alamo Drafthouse Cinema, the hybrid restaurant and movie theater chain that saw much of its business wiped out during the pandemic, declared Chapter 11 bankruptcy on Wednesday and struck a deal to sell itself to its lenders. The chain, which operates 41 locations and is based in Austin, Texas, …

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Definition of bankruptcy: what exactly is it?

[ad_1] Bankruptcy is a generalized term for federal legal proceedings that help consumers and businesses get rid of their debts and pay off their creditors. If you can prove that you are entitled to it, the bankruptcy court will protect you during your bankruptcy proceedings. In general, bankruptcies can be …

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For fossil fuel companies, bankruptcy is a rescue

[ad_1] Around this time last year, Jeff Hoops – CEO of Blackjewel LLC – was having a busy week. On July 1, 2019, he filed for Chapter 11 bankruptcy, abruptly shutting down the company’s Bell Ayr and Eagle Butte mines in Wyoming and laying off 700 workers. Construction then began …

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