bankruptcy law

The embattled consumer electronics company is asking for a court approval to shutter 14 of its stores in Long Island in April, based on documents filed. RadioShack, founded in Texas in 1921, filed a Chapter 11 bankruptcy petition again after emerging from its first bankruptcy in 2015. The company is hoping that by March 28 […]

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Sheraton Brussels Hotel, one of the biggest hotels in Belgium, is set to close its door due to its operating company’s bankruptcy. The 500-room hotel has no option but to close after the bankruptcy of SBH SPRL operator, causing 200 people to lose their jobs. Sheraton said in a statement that the hotel is closing […]

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Texas businessman Samuel Evans Wyly filed for Chapter 11 bankruptcy in a court in Dallas, but his third try to restructure under Chapter 11 was unsuccessful and the bankruptcy court disapproved the revised plan. Wyly is Michaels Stores Inc.’s vice chairman of the board.  According to reports, the bankruptcy filing arose from disputes with the […]

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While the filings of bankruptcy in the United States have slowed down, the Chapter 7 and Chapter 13 bankruptcies in Kentucky and Indiana continue to surpass the nationwide average. Bankruptcy judges, credit counselors, lawyers and consumer advocates say that many residents in the state have become part of the underemployment and wage stagnation trend. Medical […]

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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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A United States bankruptcy judge in Manchester has temporarily allowed the sale of the old USA Springs land in Barrington and Nottingham to a Massachusetts financier who had formerly told officials in town that he wanted to extract groundwater from the 189-acres land. The insolvent estate of USA Springs is going to sell the land […]

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A U.S. bankruptcy judge denied the request of Minnesota State to withdraw mineral leases of Essar Steel Minnesota from its bankruptcy estate. The company was pleased by Judge Brendan Shannon’s ruling. The Department of Natural Resources of Minnesota had asked the judge to exclude the mineral leases in the company’s assets, in order to allow […]

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Takata Corp.  is likely to file for bankruptcy in the United States.  Interested bidders are carefully considering a U.S.  court ruling that would possibly expose a purchaser to the legal responsibilities for the Japanese company’s faulty air bags, according to reports. The company may have to face billions of dollars in damages from the largest […]

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Key Energy Services in Houston filed for Chapter 11 bankruptcy on Oct. 24 after months of preparing a bankruptcy plan that would get the support of creditors. Court documents show that Key owes $1.2 billion to creditors and has $1.1 billion in assets. The energy company aims to slash debts to around $250 million. The […]

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Grand Volute Ballroom in Lowell, Michigan has filed for Chapter 11 bankruptcy more than two months ago and the future of the business is not yet clear.  Court documents show that the wedding reception venue owes bride-to-be Leslie Austin as well as 150 other organizations and people. Austin wants to tell others regarding her bad […]

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