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Bankruptcy News

News on Bankruptcy continually updated from thousands of sources around the net.

53 min ago | Ipswich Evening Star

Suffolk/Essex: Personal bankruptcy falls to pre-recession levels amid 'economic recovery'

The research, published in the Insolvency Service s annual report mapping out personal insolvency rates in England and Wales, showed there were 369 new cases of bankruptcy orders in Suffolk last year.

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Related Topix: Economics News

Thu Jul 10, 2014

Detroit Free Press

Miller Buckfire to collect $28 million for Detroit bankruptcy work

New York-based investment bank Miller Buckfire is expected to collect a fee of $28 million if the city of Detroit is able to restructure its debt in bankruptcy, according to an internal city document obtained by the Free Press.

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Related Topix: Economics News, Detroit, MI

Myrtle Beach Online

Cupcake chain Crumbs in talks, could rise again

The New York company said it is in talks with "various interested parties" and could restructure its business days after closing its stores.

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Related Topix: Economics News, Business News

Detroit Free Press

Highlights: How Detroit will slash $7 billion in debt during bankruptcy

Internal City of Detroit documents obtained by the Free Press spell out the percentage cuts for each group creditors, with the city predicting it will be able to dump more than $7 billion in debt and liabilities, or about 74%, in Chapter 9 bankruptcy.

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Related Topix: Economics News, Detroit, MI

Congleton Guardian

More young women becoming insolvent

Young women are more likely to find themselves falling into personal insolvency than men of the same age, official statistics show.

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Related Topix: Economics News

Business Journal

Sanford sewage plant Maxwest files for bankruptcy, lays off workers

Sewage processing company Maxwest Environmental Systems filed for Chapter 7 bankruptcy liquidation last week, leading to its closure and 15 layoffs at offices in Lake Mary and Sanford, the Orlando Sentinel reports.

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Related Topix: Sanford, FL, Economics News, Lake Mary, FL, Orlando, FL, Alternative Energy, Energy

Milwaukee Journal-Sentinal

Milwaukee YMCA bankruptcy is challenge of a lifetime for Julie Tolan

Julie Tolan, president and chief executive of the YMCA of Metropolitan Milwaukee, gathers with a group of 5-year-olds at the Rite Hite day camp at the Rite-Hite Family YMCA in Brown Deer.

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Related Topix: Milwaukee, WI, Economics News, Brown Deer, WI, Marquette University

Wed Jul 09, 2014

Denver Post

Report: Detroit art valued at more than $4.6B

Treasures in the Detroit Institute of Arts eyed for sale by some creditors in the city's historic bankruptcy could be worth more than $4.6 billion, but likely would fetch a quarter of that or less in a forced liquidation, according to a new report.

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Related Topix: Economics News

KHOU-TV Houston

Genco exits Chapter 11 bankruptcy protection

The company says it reduced its debt by $1.2 billion while eliminating $192.8 million in amortization payments and $40 million in annual interest payments.

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Related Topix: Economics News

Tri-cityherald.com

Memphis 'Blue Flu' symbol of pension troubles

Cuts approved by the City Council have led to protests from city workers, including police and fire staff, who say they cannot afford the changes and feel betrayed by a city they have served and protected.

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Related Topix: Pension, Personal Finance, Fire, Economics News, US Politics, US News, US House of Representatives, Democrat, Rahm Emanuel, Illinois

Bellingham Herald

Brennan's to reopen after bankruptcy sale

A bankruptcy judge overseeing the liquidation of Brennan's Inc. on Wednesday approved the sale of the former restaurant's trade name and other assets - including recipes - to an investment group that includes prominent New Orleans restaurateur Ralph Brennan.

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Related Topix: Economics News, Restaurant Management

Business Journal

Milwaukee YMCA closes on sale of charter school in bankruptcy case

The YMCA of Metropolitan Milwaukee has closed on the sale of its Young Leaders Academy as part of its ongoing bankruptcy case.

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Related Topix: Economics News, Milwaukee, WI

Carlsbad Current-Argus

Greece to test bond market again with new issue

Greece says it will issue a three-year bond following its successful bid to tap debt markets in April after a four-year absence.

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Related Topix: Economics News

Detroit Free Press

Detroit police union agrees to tentative deal in bankruptcy breakthrough

Exterior view of the new Detroit Public Safety Headquarters in Detroit on Friday June 28, 2013.

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Related Topix: Economics News, Detroit, MI

Tue Jul 08, 2014

The Fresno Bee

Judge suggests Stockton worker pensions could be reduced in citya s bankruptcy case

On Tuesday, a federal bankruptcy judge in Sacramento inched closer to changing all that.

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Related Topix: Pension, Personal Finance, Economics News, Stockton, CA

ComputerWorld

Mt. Gox CEO selling Bitcoins.com, will give some proceeds to burned investors

Mt. Gox CEO Mark Karpeles bows in ritual apology on Japanese TV while at a press conference on Feb. 28, when the bitcoin exchange filed for bankruptcy protection at the Tokyo District Court.

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Related Topix: Economics News, Bitcoin

Detroit Free Press

EM Kevyn Orr gives Detroit officials, appointees 5% pay raise

Detroit emergency manager Kevynn Orr takes questions from reporters after a speech he gave on May 30, 2014.

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Related Topix: Detroit, MI, Economics News

ABC News

After Detroit, Another City Ponders Bankruptcy

As Detroit works to emerge from bankruptcy following a court-supervised overhaul, another Michigan city with strong auto industry bonds could be on the brink of beginning the same process, the latest sign that the spate of municipal defaults may not have ended.

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Related Topix: Economics News, Automakers, General Motors, Rick Snyder, US Governors, Mammoth Lakes, CA

Houston Chronicle

Crane: Judge wona t allow third delay in CSN Houston bankruptcy reorganization

U.S. Bankruptcy Judge Marvin Isgur, who is presiding over the Comcast SportsNet Houston bankruptcy case, isn't going to give the network a third strike when it comes to reorganization delays, Astros owner Jim Crane said this week.

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Related Topix: Economics News

Detroit Free Press

RACER Trust to meet on demolished Lansing-area GM site cleanups

RACER Trust will hold a meeting at 5:30 p.m. Tuesday at the Letts Community Center, 1220 W. Kalamazoo St. in Lansing, to provide updates about its efforts to redevelop demolished General Motors Corp. plants in Lansing and Lansing Township.

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Related Topix: GMC GM, Lansing, MI, GMC, Automakers, General Motors, Economics News, U.S. Environmental Protection Agency

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