San Antonio Attorney Blog

A new bankruptcy plan could spell salvation for the struggling Diocese of Stockholm, as negotiations involving approximately $15 million awarded to 27 victims of sexual abuse come to a close. The agreement comes more than two years after the diocese formally filed for bankruptcy, as the legal costs of dealing with child abuse cases became [...]

{ 0 comments }

After due diligence, gas and convenience store chain Western Convenience Stores has successfully climbed out of bankruptcy, thanks to a financial restructuring plan implemented last August 31.  The deal provided Western and all of its affiliate companies with an adequate credit facility that enabled the struggling business to get back on its feet. Court documents [...]

{ 0 comments }

South Korean Hanjin Shipping secured the necessary payment to drop off a filled container vessel waiting around a port in New York.  However, before the ship obtained permission to dock, it had to deal with another predicament: how will it return to sea. The problem of the Hanjin Miami is just an example that disputes [...]

{ 0 comments }

Kmart employees have received the worst news last week.  Most stores, particularly the satellite branches, are set to close by the end of 2016.  The employees will be laid off from their jobs. It has been confirmed that 12 stores in 11 different states will be closed for good on or before December 11. A [...]

{ 0 comments }

In a bid to stay afloat, the holding company of The Bank of Commerce has filed for a voluntary petition under Section 363 of the US Bankruptcy Code, effectively placing the company up for grabs to an interested investor. The holding company’s attempts to remain solvent are currently weighed down by a $10 million debt [...]

{ 0 comments }

Lennar Corp., a major construction company in Miami, paid $643 million to acquire high-end developer and homebuilder WCI Communities. Lennar, one of the top homebuilders in the United States, had an income of $9.74 billion last year.  On the other hand, WCI’s income last year was $563 million— the continuation of a remarkable recuperation that [...]

{ 0 comments }

American Idol producer Core Entertainment successfully eliminated debt worth hundreds of millions of dollars with the approval of a court.  Also, the producer would be allowed to work with franchise creator Simon Fuller after leaving bankruptcy. The television producer received a court confirmation on its plan that consists of a resolution with a committee of [...]

{ 0 comments }

Verengo Solar filed for Chapter 11 bankruptcy on Sept.  23, hoping to recover its position as a primary installer of solar panels in California and spread out nationally. The company revealed that part of its bankruptcy plan is to sell around 20,000 of its installed products to Crius Energy, a retail energy manufacturer. A few [...]

{ 0 comments }

Fattmerchant, an up-and-coming startup in the Orlando financial tech industry, has been dragged into an ongoing bankruptcy suit involving the father of one of the company’s co-founders. Fattmerchant co-founder Sal Rehmetullah has volunteered to give $100,000 from his personal funds to help repay his father’s obligations amounting to $800,000. Ishrat Rehmetullah, father of Fattmerchant co-founder [...]

{ 0 comments }

205 Associates LLC, the owner of the decrepit Cobblestones building in York, has finally secured a buyer for the property, a month after they filed for Chapter 7 bankruptcy in Pennsylvania courts. Identified as a certain Joe Estremera based in North York, the potential buyer seeks to purchase the property situated at 205-209 S.  George [...]

{ 0 comments }