San Antonio Attorney Blog

RCS Capital Files Chapter 11 Bankruptcy

by San Antonio Attorney

RCS Capital Corporation, a brokerage firm, filed for Chapter 11 Bankruptcy Protection last Sunday.  It aims to create a prearranged plan, calling the lenders to shell out $150 million into the Cetera Financial Group, converting it into a private company. Last January, RCS revealed that the lenders are amenable to a restructuring deal, which enables [...]

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Law-school graduates filing for bankruptcy protection can have the benefit of cancelling their accumulating debt during the time of their bar exams, since these loans are different from the federal student loans. Judge Carla Craig, a bankruptcy judge in Brooklyn, said that the loan incurred by the bar-exam is a result of an agreement of [...]

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The start-up company behind the 94Fifty Smart Sensor Basketball, sought for Chapter 11 bankruptcy protection after the depletion of their financial resources. It was considered to be the world’s first smart basketball, with sensors attached that transmit the patterns of ball handling data to a phone. Michael Crowley, who established the start-up last 2008, is [...]

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The Chesterfield Berry Farm, a tourist attraction known for its annual strawberry picking, pumpkin patch and ‘haunted corn maze’, recently filed for Chapter 12 bankruptcy. Operating for decades, Chesterfield Berry farm lists approximately $100,001 to $500,000 in both assets and liabilities in its petition, according to the bankruptcy filing. The berry farm, located in the [...]

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50 Cent filed for Chapter 11 bankruptcy in 2015.  As the rapper’s filed case is about to reach a settlement, 50 Cent got himself into trouble again as he posted images of him surrounded with stacks of cash.  This called the attention of Judge Ann Nevins. The rapper’s lawyers efficiently created an argument against the [...]

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Clinical reference lab Atherotech has permanently closed and filed for Chapter 7 bankruptcy, causing 300 employees to lose their jobs. The Birmingham-based company abruptly closed on February 28, and declared bankruptcy on March 3.  Atherotech blames declining profit margins, more rigid regulations, and greater pressure from insurance as the top reasons for the business’ downfall. [...]

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Rapper 50 Cent is taking out on social media what he has to say about his Chapter 11 bankruptcy case.  According to him, the law is so unfair because it “applies differently” to bankruptcy filers. He bewailed about the cost of success by stating that earning a lot of money makes someone a target.  Even [...]

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Powa Technologies was considered to be one of the hottest ‘British Unicorns’ prior to its financial collapse.  The e-commerce start-up enterprise that was previously valued $2.7 billion months ago became bankrupt last Friday.  The company laid off 74 employees last Tuesday. Powa, a London-based company, was very popular in British tech industry.  Dan Wagner, the [...]

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Philadelphia has been advised by Pennsylvania Intergovernmental Cooperation Authority (PICA) to take necessary measures needed to combat its $5.7 billion pension deficit despite hesitation that the city will suffer the same fate as Detroit. An organization was assigned with the task of preventing the state from going bankrupt and it urged the mayor, council and [...]

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A horror film titled “The Disappointments Room” starring Kate Beckinsale, will most probably be postponed due to Relativity studio’s bankruptcy.  “Before I Wake”, Kate Bosworth’s thriller is also affected by the studio’s situation. With Relativity Studios still on the process of Chapter 11 bankruptcy, several movies that hve been slated for a release will be [...]

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