Blog Posts in August, 2010

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Insurer Files for Bankruptcy Protection

FGIC Corp., an insurance holding company, has filed a voluntary petition for relief under a Chapter 11 bankruptcy filing. The company wants to deleverage its balance sheet and restructure more than ...

Heart Institute Files Chapter 11

Arizona Heart Institute has filed for Chapter 11 bankruptcy protection. The company is proposing to sell its assets to Vanguard Health Systems for about $6.1 million. The company has cited the economy ...

Neenah Enterprises Inc. Emerges from Bankruptcy

Neenah, one of the largest foundry firms in the country, has emerged from bankruptcy with new equity ownership. The company roughly got rid of $270 million in debt. The process reportedly took less ...

Shopping Center Owners File for Bankruptcy Protection

The owners of Village at Camp Bowie shopping center in Fort Worth, Texas have filed for bankruptcy protection. The center was going to go through a foreclosure auction, but now that has been halted. ...

Nightclubs and Owner File for Bankruptcy

Marc S. Barnes, who owns a couple of nightclubs in Washington D.C., has filed for Chapter 11 for himself and his clubs. The filing is in part to ensure that the sale of his club Love goes off without ...

Stonewall Farm Ocala Owners File Chapter 11

Audrey and Richard Haisfield, who own three thoroughbred-related businesses, have filed for Chapter 11 bankruptcy protection. The couple is trying to avoid lawsuits that are currently being filed ...

Razor Company Files for Bankruptcy

American Safety Razor Co. has filed for Chapter 11 bankruptcy protection in order to sell its assets. The company has reached a deal for its senior lenders to acquire the company. The company ...

Uno Chicago Grill Company Emerges from Bankruptcy

The parent company of Uno Chicago Grill has emerged from Chapter 11 bankruptcy as their reorganization plan has been approved. The company will now recapitalize and eliminate much of its debt by ...

GSI Group Completes Reorganization

GSI Group Inc. has finally completed its Chapter 11 bankruptcy reorganization that will cut its debt in half. The company that makes lasers and scanners filed for bankruptcy protection in November and ...

TV Wife’s Real Bankruptcy

You don't have to watch reality TV, or any television for that matter, to learn about the high-profile Chapter 7 bankruptcy case of Joe and his "Real Housewife" Teresa Giudice. The couple has made ...

Spa Declares Bankruptcy

Center Stage Salon and Spa is in the process of declaring bankruptcy, although they already closed their business. The business will add the former employees and customers with gift cards to the list ...

Building Developer Files for Bankruptcy

In Baltimore, the owner-developer of the B&O building has filed for Chapter 11 bankruptcy due to problems with its conversion of the property into a boutique Hotel Monaco. The company is seeking ...

Deli Files for Bankruptcy Protection

Katz's Deli in Austin, Texas has filed for Chapter 11 bankruptcy protection after more than 30 years of business. At this time, business will operate as usually as the deli is not being evicted and ...

Brown Publishing Bankruptcy Decision Postponed

In New York, Brown Publishing's bankruptcy decision has been postponed by the judge. A decision is being made about a group of company insiders who have bid $22.4 million for most of the assets of the ...

Former Football Star Files for Bankruptcy

David Kircus, a former NFL receiver, has filed for bankruptcy due to damage awards that he must pay to Jeffrey Krieger, a man he allegedly attacked in 2007. The bankruptcy filing will put the case on ...

Michael Vick in Bankruptcy Court

Football player Michael Vick is dealing with matters in bankruptcy court as he wrote and cashed 67 checks payable to "cash" from his 31 bank accounts. It has been reported that Vick was giving money ...

Construction Company Files for Bankruptcy

Maietta Construction Inc. has filed for Chapter 11 bankruptcy protection in labeling assets and liabilities of more than $1 million to $10 million. At this time, the company has reported that it plans ...

Night Spot Developer Files for Bankruptcy

The developer of EpiCentre in the Charlotte, North Carolina area has filed for bankruptcy protection. Afshin Ghazi reportedly filed for bankruptcy protection as the complex is more than $90 million in ...

Albuquerque Studios Files for Bankruptcy

Albuquerque Studios has filed for Chapter 11 bankruptcy as it owes tens of thousands of dollars to other businesses. The company is claiming debts of almost $105 million. The Chapter 11 bankruptcy ...

Global Capacity Group Files Chapter 11

The telecommunications information and logistics company Global Capacity Group Inc. has filed for Chapter 11 protection in Delaware. The company reportedly expects to complete the process before the ...

Rosecroft Raceway Lawsuit in Bankruptcy Court

Rosecroft Raceway is taking their lawsuit against Maryland's horse-racing industry to bankruptcy court. The owner of Rosecroft is claiming that the Maryland Jockey Club and other defendants drove the ...

Real Estate Lending Entity Files Chapter 7

OneCap has filed for Chapter 7 bankruptcy liquidation in Las Vegas which means that investors may be delayed in pursuing fraud claims against the company. According to reports, OneCap had its mortgage ...

Gas Station Operator Files for Bankruptcy

B&R Oil, Inc. has filed for Chapter 7 bankruptcy protection. The gas station operator has listed assets around $300,000 and liabilities around $780,000. Part of the filing is due to the lawsuits ...

Jennifer Convertibles Files for Bankruptcy

Home furnishings supplier Jennifer Convertibles has filed for Chapter 11 bankruptcy protection. The filing is a pre-arranged deal that will convert debt owed to its supplier and largest creditor. This ...

Innkeepers USA Prepares Bankruptcy Filing

The real estate investment trust, Innkeepers USA, is currently preparing to file Chapter 11 bankruptcy protection. According to reports, the hotel company is dealing with more than $1 billion in debt ...
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