- Delta Financial Corporation Announces Intent to Seek Bankruptcy Protection
Delta Financial Corporation (NASDAQ: DFC) today provided an update as to its financial condition and current plans........ - Simon Mayer, Glenn Valentine Join Hughes Watters Askanase as Associates
Hughes Watters Askanase, L.L.P. (HWA) announced that Simon Mayer and Glenn Valentine have joined the Houston-based law firm as associates in the bankruptcy and real estate practice groups, respectively....... - Greenberg Traurig Grows Bankruptcy, Litigation Practice in Central Florida with Soriano Addition
Greenberg Traurig, an international law firm with more than 1,750 attorneys in 28 offices throughout the United States and Europe, including Tampa, has added nationally recognized attorney Robert A. "Rob" Soriano as a shareholder to its business reorganization and bankruptcy and litigation practices. Soriano joins the firm from Shutts & Bowen's Tampa office...... - Union Bank of California to Exit the Retirement Recordkeeping Business with Sale to Prudential
UnionBanCal Corporation (NYSE:UB) announced today that its wholly-owned subsidiary, Union Bank of California, N.A., has signed a definitive agreement to sell its retirement recordkeeping business to Prudential Retirement, a subsidiary of Prudential Financial, Inc. (NYSE:PRU)......... - News From USW: Union Announces 2007 Payment Increase for ArcelorMittal VEBA Participants
News From USW: The United Steelworkers (USW) today announced that some 53,000 retirees and surviving spouses who lost health care coverage in the bankruptcies of four steel companies are getting extra financial help with their Medicare Part B premiums from an innovative trust fund bargained by the USW to assist them... - Levitt and Sons Files for Chapter 11
Levitt and Sons®, LLC today announced that the company and 37 of its subsidiaries filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code. The Chapter 11 filings were made in the U.S. Bankruptcy Court for the Southern District of Florida in Fort Lauderdale.... - IBC Files Plan of Reorganization Based on Funding Commitment
Interstate Bakeries Corporation (IBC) (OTC:IBCIQ) today announced that it has filed its Plan of Reorganization (the “Reorganization Plan”) and related Disclosure Statement with the U.S. Bankruptcy Court for the Western District of Missouri......... - IBC Receives Commitment for $400 Million Exit Financing; Reaches Plan Funding Agreement with Four
Interstate Bakeries Corporation (IBC or the Company) (OTC:IBCIQ) today filed a motion with the U.S. Bankruptcy Court requesting authorization to enter into an agreement with Silver Point Finance LLC to provide the Company with up to $400 million in exit financing upon IBC’s emergence from Chapter 11....... - First Capital Launches Pre-Delivery Guaranty Service to Enhance Its Suite of International Supply
First Capital, a leading commercial financial services firm, announced today the launch of its Pre-Delivery Guaranty service, the first offering in a series of new international trade finance services First Capital plans to unveil this month. Pre-Delivery Guaranty enhances First Capital’s growing suite of International Supply Chain Finance solutions..... - Small World Toys Acquired by Former Managers
Under the umbrella firm, SWT Acquisition, LLC, Rivenrock Capital LLC fashioned a successful bid to help the company emerge from bankruptcy better capitalized and healthier than it was before. John Nelson, former President and COO of Small World Toys, who left the company 2 years ago, will be CEO of the new company; and other key team members are former COO John Matise, who will return as COO; David Adams will serve as CFO;..... - Henry Jakob, Cheryl Worley of Hughes Watters Askanase to Speak at Landlord-Tenant Seminar
Hughes Watters Askanase L.L.P. (HWA) attorneys Henry Jakob and Cheryl Worley will be speaking at the Landlord-Tenant Law in Texas seminar on Nov. 13 in Houston. Jakob and Worley will present on the Bankruptcy Reform Act and how it affects landlords, tenants and ethics in landlord-tenant law, focusing both presentations on evictions..... - Court Converts Prosser to Chapter 7 Bankruptcy, Appoints Trustees
On Tuesday, October 3, 2007, U.S. Bankruptcy Court Judge Judith K. Fitzgerald approved an order converting Jeffrey Prosser’s personal bankruptcy case from Chapter 11 reorganization to Chapter 7 liquidation. The court has appointed an interim trustee to assemble and liquidate Prosser’s assets..... - Bankruptcy & Creditor's Rights Attorney Achieves Recertification in Business Bankruptcy Law
Cohen & Grigsby, P.C., a business law firm with offices in Pittsburgh, PA; Bonita Springs, FL; and Naples, FL, is pleased to announce that William E. Kelleher, Jr. has been recertified in Business Bankruptcy Law by the American Board of Certification. Kelleher was initially certified in 1996 and has been certified each year since....... - New York Community Bancorp, Inc. and Synergy Financial Group, Inc. Announce Receipt of NYS Banking
New York Community Bancorp, Inc. (NYSE: NYB), the holding company for New York Community Bank and New York Commercial Bank, and Synergy Financial Group, Inc. (NASDAQ/Global Market: SYNF) (“Synergy”), the holding company for Synergy Bank..... - Pacific Lumber, Scotia Pacific and MAXXAM Propose Full-Payment Plan of Reorganization
The Pacific Lumber Company (Pacific Lumber) and its subsidiaries, including Scotia Pacific Company LLC (Scopac), together with MAXXAM Inc. (MAXXAM) as co-proponent, has filed a plan of reorganization and disclosure statement in the U.S. Bankruptcy Court for the Southern District of Texas, Corpus Christi Division....... - Federal Bankruptcy Judge Places Innovative Communication Corporation in Bankruptcy
On Friday, September 21, 2007, U.S. Bankruptcy Court Judge Judith K. Fitzgerald placed Innovative Communication Corporation (New ICC) in Chapter 11 bankruptcy over the objections of its principal, Jeffrey Prosser......... - WL Ross Approved By Bankruptcy Court As $500 Million Stalking Horse Bidder For American Home’s
American Home Investment Corp. (OTC:AHMIQ) (“American Home”) today announced that the U.S. Bankruptcy Court for the District of Delaware approved an entity sponsored by WL Ross & Company LLC as the stalking horse bidder for American Home’s mortgage servicing platform and mortgage servicing rights..... - Larry Young of Hughes Watters Askanase to Speak at Credit Law Institute Bankruptcy Seminar
Hughes Watters Askanase L.L.P. (HWA) partner Lawrence Young has been selected to speak at the Credit Law Institute’s Debt Collection, Loan Servicing and Consumer Bankruptcy seminar Oct. 5 in Dallas. HWA associate Heather McIntyre will be co-presenting...... - IBC Requests Extension of Exclusivity
Interstate Bakeries Corporation (IBC) (OTC:IBCIQ) today filed a motion with the U.S. Bankruptcy Court requesting an extension of its exclusive period in which to file a Plan of Reorganization through January 15, 2008 and its exclusive period to solicit acceptances of any Plan of Reorganization through March 15, 2008. ..... - HALO Technology Holdings Files for Chapter 11 Bankruptcy Protection
HALO Technology Holdings (OTCBB: HTHO) (the “Company” or “HALO”) today announced that it filed a voluntary petition for reorganization under Chapter 11 of the United States Bankruptcy Code. Halo’s subsidiaries have also filed petitions for reorganization...... - A Wave of Corporate Restructuring is About to Hit
A slowing economy, a credit crunch, a liquidity dry-spell, high energy costs, and a drop in consumer spending spell trouble for many struggling companies today. Corporate bankruptcy filings and default rates are destined to increase this winter.... - Chrysalis Capital Partners Completes Acquisition of Holliston Mills
Chrysalis Capital Partners, a private equity firm focused on ‘special situation’ investments, today announced that its affiliate, Holliston LLC, has completed the acquisition of substantially all of the assets of The Holliston Mills, Inc., the nation’s largest domestic value-added producer of coated cloth materials for book covers and other bound materials, security documents, specialty packaging and other industrial products. Holliston LLC will maintain its operations in Church Hill, .... - Comdisco Announces Supplemental Distribution From Disputed Claims Reserve
Comdisco Holding Company, Inc. (OTC: CDCO) today announced that, pursuant to the Order Authorizing The Release Of Excess Funds From The Disputed Claims Reserve entered by the Bankruptcy Court on August 1, 2007 and in accordance with its plan of reorganization, it would make a supplemental distribution in the approximate amount of $40 million dollars...... - Business Bankruptcy Rates Continue to Rise, Reports Euler Hermes ACI
The number of U.S. business bankruptcies in the second quarter showed yet another dramatic increase, which reflects the forecast produced by leading accounts receivable insurer Euler Hermes ACI earlier this year. - Comdisco Announces Supplemental Distribution From Disputed Claims Reserve
Comdisco Holding Company, Inc. (OTC: CDCO) today announced that, pursuant to the Order Authorizing The Release Of Excess Funds From The Disputed Claims Reserve entered by the Bankruptcy Court on August 1, 2007 and in accordance with its plan of reorganization....... - LFC to Auction Remaining Icon of Adelphia’s Empire
Adelphia Communications’ former corporate headquarters is a first class office space built at the height of their scandal-ridden bankruptcy and ensuing legal difficulties. The stunning 72,056 square foot, three-floor office building with fully-finished basement on Coudersport’s main street serves as a reminder of Adelphia’s impact on the local economy and the state of Pennsylvania...... - American Home Mortgage Investment Corp. Files for Chapter 11 Bankruptcy
American Home Mortgage Investment Corp. (NYSE: AHM) today reported that its Board of Directors, after carefully assessing the sudden adverse impact on the Company’s liquidity and business from the extraordinary disruptions now occurring in the secondary mortgage and real estate markets, has authorized management to seek protection for the Company through the bankruptcy process in order to best preserve the value of the Company’s assets....... - Municipal Payment Systems Completes Merger, and Provides Business Profile
Municipal Payment Systems, Inc., (Pink Sheets:MCPY), formerly known as Columbia Bakeries, is pleased to report that the merger transaction approved by the Florida Bankruptcy courts in July of 2006 has been formally completed..... - Hughes Watters Askanase Attorneys to Speak at Bankruptcy Seminar
Hughes Watters Askanase L.L.P. (HWA) partners Steven Shurn and Dominique Varner and associate Brendetta Scott will be speaking at the “Bankruptcy Law and Procedure from Start to Finish” seminar which will be co-presented by the National Business Institute (NBI) and American Legal and Financial Network (AFN). The seminar will be held in Dallas on Sept. 14, 2007. - InSight Health Services Holdings Corp. Announces Confirmation Hearing Set for July 9, 2007
InSight Health Services Holdings Corp. (“InSight”) today announced that the U.S. Bankruptcy Court for the District of Delaware has set a confirmation hearing for July 9, 2007. At such hearing the court will be asked to confirm the prepackaged plan of reorganization of InSight and its wholly owned subsidiary InSight Health Services Corp. (“IHSC”)......... - CytoDyn Calls Yahoo! Good Corporate Citizen
On May 20, 2007, Yahoo! Finance posted an erroneous claim that CytoDyn, Inc. (Pink Sheets:CYDY) had filed for voluntary bankruptcy. The error was clearly inadvertent. Yahoo! had confused CytoDyn, Inc. a fully reporting Colorado corporation, with a privately held New Mexico corporation having a similar name. But the timing was especially inopportune... - Charles A Stanziale, Jr., as Chapter 11 Trustee of the Solomon Dwek Bankruptcy and Related
Charles A. Stanziale, Jr., as Chapter 11 Trustee of the bankruptcy estates of Solomon Dwek, Debtor, et al, has exclusively retained Keen Realty, LLC to market for sale the real property associated with the Solomon Dwek bankruptcy. The United States Bankruptcy Court for the District of New Jersey issued an Order on April 10, 2007 authorizing the retention of Keen Realty, LLC as Special Real Estate Consultant to the Chapter 11 Trustee. - T-REX Stalks ``Vulture Investors''
Creditors whose debtors file for Chapter 11 bankruptcy have operated at a disadvantage. Saddled with bad debt that may take years to recover, they can sell their bankruptcy claims at a discount, but the process can be daunting, with the creditor at the mercy of distressed debt buyers known as “vulture investors.” - Leading Legal Firm, Busby & Lee, Helps Clients Understand Divorce Decrees Under New Bankruptcy Law
The bankruptcy and family law attorneys explain importance of wording in divorce decree when seeking spousal support or alimony. - Cal-Bay International Subject of Fraudulent Press Release Regarding Bankruptcy Filing
Cal-Bay International, Inc. (OTCBB:CBAY) announces the company has once again become the subject of a fraudulent press release posted on Yahoo Chat Boards claiming the company filed Bankruptcy in Nevada with alleged quotes from the company’s President... - Winston & Strawn Adds Strength in Insolvency Practice
Winston & Strawn LLP announced today that prominent bankruptcy attorneys Jeff J. Marwil and Mark K. Thomas and their team of Paul V. Possinger and Brian I. Swett have all joined its Chicago office as partners from Jenner & Block. Marwil and Thomas have worked together for more than 15 years, and bring nearly 50 years of combined experience in the workout, bankruptcy and restructuring area. - Bankruptcy Court Issues Ruling on Pittsburgh Corning Reorganization Plan
The United States Bankruptcy Court for the Western District of Pennsylvania issued a decision denying confirmation of the most recent amended plan of reorganization for Pittsburgh Corning Corporation after normal business hours last evening. - Bankruptcy Court Issues Ruling on Pittsburgh Corning Reorganization Plan
The United States Bankruptcy Court for the Western District of Pennsylvania issued a decision denying confirmation of the most recent amended plan of reorganization for Pittsburgh Corning Corporation after normal business hours last evening. - Fitch: U.S. Bankruptcy Court Rejects Reorganization Plan for PPG's Pittsburgh Corning Corp. Unit
On Dec. 22, 2006, the U.S. Bankruptcy Court for the Western District of Pennsylvania issued a decision denying confirmation of the most recent amended plan of reorganization for Pittsburgh Corning Corporation (PC). PPG Industries, Inc. (PPG) has owned 50% of PC since 1937. - President Casinos, Inc. Announces Confirmation of Bankruptcy Reorganization Plan for Subsidiary
President Casinos, Inc. (“President”) (OTC:PREZQ.OB) announced that the United States Bankruptcy Court for the Eastern District of Missouri has entered an order confirming the Chapter 11 plan of reorganization submitted by President Riverboat Casino-Missouri, Inc. (“PRC-MO”), a wholly owned subsidiary of President that conducts President’s St. Louis, Missouri gaming operations. - Ultimate Resort Agrees to Purchase the Assets of Tanner & Haley for $98 Million in Cash
Ultimate Resort, LLC (“Ultimate Resort”), of Orlando, Fla., and Tanner & Haley Resorts (“T&H”), of Westport, Conn., two of the industry leaders in the luxury destination club business, today announced that they have signed an agreement under which Ultimate Resort will acquire substantially all of the real estate assets of T&H for cash consideration of approximately $98 million. - Chapter 7 Bankruptcy Petitioners to Face Greater Obstacles in Some States on October 1
New median income figures taking effect on October 1 may exclude some people currently eligible for Chapter 7 bankruptcy. Those filing for Chapter 7 bankruptcy must qualify under the Chapter 7 "means test", a test that begins by comparing the petitioner’s income to the median income for his state and family size. - Bank seeks 490,000 dollar it mistakenly gave away
A Taiwan bank is seeking the return of $490,000 it gave away to a local company by mistake, a media report said Monday. - U.S. Based Banks Complacency Toward Identity Theft Solutions Causing a National Security Threat
U.S. Banks are already to late to make the required security upgrades required by the FFIEC. - Assault on financiers costs a man two years in jail
A man who severely beat up his two financiers in an attempt to desist them from asking for repayment of a Rs 13 lakh loan was today sentenced to two years' imprisonment by a sessions court here. - Simple Bankruptcy Recovery Plan Makes Home Buying Dreams Come True
New book spells out five of the most critical items a bank's underwriters looks for in post-bankruptcy mortgage applicants. - SQN Integrates Parascript’s Check Recognition Technology to Detect Fraud
One of world’s five largest banks implements integrated fraud detection solution - China's legislature adopts corporate bankruptcy law
China's top legislature, the Standing Committee of the National People's Congress (NPC), Sunday adopted a corporate bankruptcy law that aims to protect both creditors and employees of bankrupt enterprises. - Leading Chinese securities firm declared bankrupt
A Chinese court has wound up the country's fifth-largest brokerage firm, making it the Communist giant's largest bankruptcy case in the securities sector. - Bank Error Causes Hundreds Anguish - Banking Error Causes Company to be Suspected of Fraud
Soho Artistes today announced that hundreds of their artists have suffered both anguish and financial costs due to a bank error. The major high street bank (which cannot be named for legal reasons) with which the company has conducted business rejected over 500 cheques which they wrongly believed to be counterfeit. - Financial Center Federal Credit Union Chooses The Edcomm Group To Deliver Elder Financial Abuse
Financial Center Federal Credit Union has chosen The Edcomm Group to deliver Elder Financial Abuse compliance training for its bank-wide training needs. Financial Center also chose to implement Edcomm’s own LMS, Learning Link® for hosting and maintenance. - Personal Security and Identity Theft Expert Says Regulators Are Right in Wanting Banks
The FDIC proposed new requirements last week for banks’ handling of identity theft. Robert Siciliano, personal security and identity theft expert, predicted that the measures would help to precipitate a rebound in consumers’ confidence regarding the security of their financial information. - Online Videos Explain The Bankruptcy Process In Scotland - Sequestration Video Series the Latest Mul
To help people understand sequestration Myvesta UK has launched a new online video series containing common questions and answers about bankruptcy in Scotland. - Midwest Bankcentre Chooses The Edcomm Group To Deliver Elder Financial Abuse Compliance Training
Midwest BankCentre has chosen The Edcomm Group to deliver Elder Financial Abuse compliance training for its bank-wide training needs. Midwest BankCentre also chose to implement Edcomm’s own LMS, Learning Link® for hosting and maintenance. - Cornerstone National Bank Chooses The Edcomm Group To Deliver Elder Financial Abuse Compliance Train
Cornerstone National Bank of Easley, SC has chosen The Edcomm Group to deliver Elder Financial Abuse compliance training for its bank-wide training needs. Cornerstone National also chose to implement Edcomm’s own LMS, Learning Link® for hosting and maintenance. - Cowboy State Bank Chooses The Edcomm Group To Deliver Elder Financial Abuse Compliance Training
Cowboy State Bank has chosen The Edcomm Group to deliver Elder Financial Abuse compliance training for its bank-wide training needs. Cowboy State also chose to implement Edcomm’s own LMS, Learning Link® for hosting and maintenance. - Hometown Bank Chooses The Edcomm Group to Deliver Elder Financial Abuse Compliance Training
Hometown Bank has chosen The Edcomm Group to deliver Elder Financial Abuse compliance training for its bank-wide training needs. Hometown Bank also chose to implement Edcomm’s own LMS, Learning Link® for hosting and maintenance. - National Bank Selects The Edcomm Group to Deliver Banking Compliance Training
National Bank has selected The Edcomm Group to deliver Banking Compliance training for its bank-wide training needs. National Bank also chose to implement Edcomm’s own LMS, Learning Link® for hosting and maintenance.
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