San Antonio Attorney Blog

The downturn of LED or light-emitting diode market incurred net losses for many companies, including Taiwanese LED die maker Genesis Photonics Inc.  (GPI), raising speculations that it is on the verge of bankruptcy. GPI suffered a net loss of more than $11 million in the third quarter of 2016, because of fierce pricing competition in [...]

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The Tri-Valley Learning Corporation, operator of two charter schools in Livermore, has filed for Chapter 11 bankruptcy. TVLC runs Livermore Valley Charter Preparatory and Livermore Valley Charter School and also two more in Stockton, sought for bankruptcy protection Nov. 8 with a California bankruptcy court, the court papers revealed. But TVLC said its schools are [...]

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Bombardier Inc., a Canadian international aerospace and transportation company, was on the verge of bankruptcy in 2015 due costly operations and insufficient funds, said CEO Alain Bellemare. In an interview with the company’s CEO, he revealed that they had to minimize the cost structure of the operations to guarantee a long-lasting success of Bombardier. He [...]

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Republic Airways Holdings Inc. announced that it anticipates leaving Chapter 11 bankruptcy early next year. Republic, which declared bankruptcy in February, said on Nov. 9 that it has submitted its restructuring plan with the approval of its creditors committee. Republic, a regional carrier that has around 5,200 employees, operates roughly 850 flights for United, Delta [...]

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Canadian company Gildan Activewear Inc. has acquired the rights to use the brand name of American Apparel for $66 million.  The American clothing retailer has recently filed its second Chapter 11 bankruptcy. The Montreal-based maker of branded clothing s has paid for the rights to use the brand and some products from American Apparel, but [...]

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The revised bankruptcy plan of St.  Paul-Minneapolis archdiocese would likely double the money allocated for its creditors to about $133 million.  Notwithstanding that increase, lawyers for the 440 survivors claim that the archdiocese’s payment to the trust is not enough considering it has more than $1 billion in assets. The revised plan would place $126 [...]

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Luke Palladino, a celebrity chef based in Atlantic City, has filed for Chapter 7 bankruptcy and his restaurant in South Jersey, Luke Palladino Seasonal Italian Cooking, has been closed permanently. Palladino, who has operated many well-received restaurants in the area for the past 13 years, has filed Chapter 7 bankruptcy on Sept.  7 in Camden.  [...]

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Spice Modern Steakhouse, a neighborhood restaurant in downtown Orlando, filed its fourth a voluntary bankruptcy petition on Nov.  15. The restaurant is still open to customers and the Chapter 11 filing occurs at the same time its owners filed their bankruptcy petition. Level 1 Inc., the parent company owned by Manuel and Brea Tato, and [...]

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Takata Corp. is contemplating about filing bankruptcy for its unit in the United States, as the automotive parts manufacturer looks for a backer to help them pay for the costs caused by its defective inflators. The Japanese air bag maker has been aiming to select a financial sponsor for its reorganization as it deals with [...]

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Serio’s Market, a 66-year old grocery store in Northampton, Ma, is financially troubled and is being sued by a supplier over a $32,000 debt.  The family-owned grocery store owes a total of $60,000 to creditors, which could lead to a bankruptcy filing. Store manager Jamie Golec says the grocery store has been struggling for the [...]

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