bankruptcy protection

A Toronto judge allowed more time on the court-supervised reorganization process that United States Steel Canada is dealing with for the past two years. Many steelworkers and pensioners from both Lake Erie and Hamilton came to Toronto for the court hearing.  Also, a lawyer for Local 1005 harked back the court about the main priorities […]

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American aviation company Erickson Incorporation, whose main manufacturing and repairs operations are carried out in Jackson County, has sought for bankruptcy protection. Overwhelmed by debt and marred by the oil industry’s decline, the firm filed for Chapter 11 in a bankruptcy court in Dallas, Texas. Erickson said in announcement that it will continue its operations […]

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Jumio Inc. has received approval from a bankruptcy court to liquidate its estate.  This is considered as a triumph for the firm’s original backers like Eduardo Saverin, co-founder of Facebook, who had dealt with accusations of manipulating Jumio’s bankruptcy to their benefit. Jumio, a leading digital ID verification company that caters to Airbnb and United […]

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Templar Energy LLC managed to reorganize its $1.45 billion debt and eluded bankruptcy by getting a unanimous approval for its reorganization plan. According to the natural and gas producer based in Oklahoma City, its second lien lenders forgave $1.45 billion worth of debt by giving them 45% equity in the new company plus $133 million […]

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Many entrepreneurs consider a bankruptcy filing as the final nail in the coffin of a struggling business—a challenging process that somehow adds to the stress of experiencing severe financial hardship. But, did you know that filing for bankruptcy can actually help a business retain, or even revive important business connections that would otherwise be terminated […]

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Golfsmith International Holdings Inc.  has filed for bankruptcy and inflicted more wounds to major athletic brands like Nike and Under Armour, which are still suffering from the bankruptcy of Sports Authority Inc.  not so long ago. Under Armour, Adidas and Nike companies all have big dealings with Golfsmith, which sought for bankruptcy protection on Sept.  […]

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American rapper 50 Cent surprised a lot of people when he sought for bankruptcy protection last year. However, 50 Cent (real name Curtis Jackson) does not appear to be troubled by the bankruptcy case and even regularly uploaded photos displaying his wealth. During his appearance on “The View”, the 41-year-old entrepreneur talked about his financial […]

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A couple from Missouri has been charged with bankruptcy fraud for concealing assets and making false statements in their bankruptcy petition. Mung Nguyen, 53, and David Nguyen, 60, are residents of O’Fallon, Missouri, who sought for bankruptcy protection in March 2015, yet bought expensive home furnishings and goods, clothing, jewelry and bags while they prepared […]

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Nick Denton, founder of Gawker media, was denied by a judge to receive bankruptcy court protection by extending the company’s automatic stay to him.  He could be facing personal bankruptcy after the Manhattan bankruptcy court ruling on July 19, 2016. Gawker Media, suffering from financial troubles and controversy, filed for bankruptcy protection last June.  This […]

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Alchemy, formerly known as Millennium Entertainment, recently filed for Chapter 7 bankruptcy protection through a U.S. Bankruptcy Court in Delaware. Through a court filing, the state has a total of $50 million to $100 million worth of liabilities.  This is compared to $10 million to $50 million of total worth of assets. Liquidation, a form […]

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