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Business News & Bankruptcies
Schutt Sports Files for Chapter 11
Schutt Sports, Inc., a leading domestic manufacturer of protective sports equipment and aftermarket reconditioning services, announced it has filed for chapter 11 bankruptcy with intentions to operate its business without interruption during the bankruptcy process.
Business Wire –
9/7/2010
Landmark Hotel Files for Bankruptcy
The Landmark Hotel in Virginia filed for chapter 11 bankruptcy protection, stating the economy and down sales as their reason for bankruptcy.
Business Week
9/3/2010
Pitcairn Properties Files for Chapter 11
Pitcairn Properties Holding Inc., the owner of commercial real estate management and development businesses, filed for chapter 11 bankruptcy protection in Delaware to deal with preferred shareholders.
Bloomberg
9/2/2010
Minor Family Hotels Files for Bankruptcy to Resolve Lawsuits
Minor Family Hotels, LLC announced that in order to quickly resolve the burdensome lawsuits that have prevented it from completing constructing and putting people back to work, it has voluntarily filed for chapter 11 bankruptcy.
Business Wire
9/2/2010
GSC Group Files for Chapter 11
GSC Group, a privately held alternative asset manager, filed for chapter 11 bankruptcy in New York and said it plans to sell all its assets.
Reuters
9/1/2010
Motors Liquidation Files Joint Bankruptcy Plan
Motors Liquidation Company announced they have filed a joint chapter 11 plan that creates a framework for resolving the challenges of one of the most complex chapter 11 cases in U.S. history.
Business Wire
8/31/2010
CES Files for Chapter 11
CES Environmental Services, a Houston-based waste management company, has filed for chapter 11 bankruptcy protection.
Chron
8/31/2010
Ebix to Acquire A.D.A.M.
Ebix, Inc., an international supplier of On-Demand software and E-commerce services, announced it has acquired Atlanta-based A.D.A.M., Inc., a provider of health information and benefits technology solutions.
Business Wire
8/30/2010
Hawks Prairie Files for Bankruptcy
Hawks Prairie Investment LLC, a company management by Tri Vo, has filed for chapter 11 bankruptcy protection in Washington.
The Olympian
8/28/2010
Blockbuster to File for Bankruptcy in September
Video rental company, Blockbuster, is planning to file for chapter 11 bankruptcy in September to restructure its $1 billion debts and escape leases on hundreds of stores, according to Blockbuster executives.
The Hollywood Reporter
8/27/2010
NCoat Files for Bankruptcy
NCoat, a nanotechnology firm, announced they have filed for chapter 11 bankruptcy protection to clear the way for a rebound under new ownership.
The Business Journal
8/27/2010
Oriental Trading Co. Files for Chapter 11
Oriental Trading Co., a discount party supplies, school materials and children's arts and crafts store, has filed for chapter 11 bankruptcy protection.
The Wall Street Journal
8/26/2010
Playlist.com Files for Bankruptcy
Playlist.com announced it has filed for chapter 11 bankruptcy protection, citing licensing costs as a major reason.
All Access
8/24/2010
Bankruptcy Filings Up in 2010
The total amount of U.S bankruptcies filed in the first half of 2010 increased 14 percent from the same period in 2009.
ACA International
8/23/2010
Old Time Pottery Emerges from Chapter 11
Old Time Pottery announced it has emerged from chapter 11 bankruptcy less than three months after receiving reorganization approval from the U.S. Bankruptcy Court.
Home Accents Today
8/23/2010
Petroflow Energy Files for Chapter 11
Petroflow Energy Ltd., a natural gas company in Oklahoma, has filed for chapter 11 bankruptcy three months after two of its units filed for bankruptcy to restructure.
Bloomberg
8/23/2010
Professional Veterinary Products Files for Bankruptcy
Professional Veterinary Products Ltd., a veterinary supply distributor in Nebraska, has filed for chapter 11 bankruptcy protection citing slumping sales in the faltering economy as the reason.
Bloomberg
8/20/2010
Amcore Financial Files for Bankruptcy
Amcore Financial Inc. filed for chapter 11 bankruptcy protection four months after regulators close the Chicago-based company's bank subsidiary.
Daily Herald
8/20/2010
SNCAT Filed for Chapter 7 Bankruptcy
Sierra Nevada Community Access Television, a public-access television service, has closed down operations and filed for chapter 7 bankruptcy after 20 years of service.
RGJ
8/20/2010
MasterCard Acquires DataCash
MasterCard announced they have acquired DataCash, a U.K.-based payments service provider, for $520 million. The acquisition will help boost MasterCard's efforts in the global eCommerce market.
Payments View
8/19/2010
Boston Generating Files for Chapter 11
Boston Generating LLC has filed for chapter 11 bankruptcy protection after reaching a deal to sell its assets for $1.1 billion to Constellation Energy Group Inc.
The Wall Street Journal
8/19/2010
Ronson Corp. Files for Bankruptcy
Ronson Corporation, along with some of its wholly-owned subsidiaries such as Ronson Aviation, Inc., have filed for chapter 11 bankruptcy protection in New Jersey.
PR Newswire
8/18/2010
Clear Choice Files for Bankruptcy
Clear Choice USA, LLC, a replacement window company, has filed for chapter 11 bankruptcy to reorganize its debt.
Business Wire
8/18/2010
L&H Trucking Files for Chapter 11
L&H Trucking Company Inc., a Pennsylvania trucking company, filed for chapter 11 bankruptcy protection from creditors.
Bloomberg
8/18/2010
Visteon Ordered to Restore Benefits
The bankruptcy judge for the Visteon Corp. case has ordered Visteon to restore health-care and life-insurance benefits to some 6,500 retired workers whose coverage was sacrificed in the company's restructuring.
The Wall Street Journal
8/17/2010
The Newark Group Exits Bankruptcy
The Newark Group, Inc., an integrated global producer of recycled paperboard and products, announced it has emerged from chapter 11 bankruptcy after successfully completing its reorganization plan.
PR Newswire
8/16/2010
Visteon to Exit Bankruptcy Soon
Visteon Corporation, the auto-parks manufacturer, announced it has raised more money than it expected and is moving towards exiting chapter 11 bankruptcy soon.
The Wall Street Journal
8/16/2010
Gracious Home Files for Chapter 11
Gracious Home, a luxury home-goods retailer with six locations throughout New York, has filed for chapter 11 bankruptcy protection.
Business Week
8/16/2010
Caribbean Petroleum Corp. Files for Chapter 11
Caribbean Petroleum Corporation announced they have filed for chapter 11 bankruptcy protection in Delaware, ten months after a massive explosion at its major Puerto Rican fuel storage depot virtually shut down the company's operations.
Reuters
8/13/2010
92-Year-Old Homebuilder Files for Bankruptcy
Orleans Homebuilders Inc., a 92-year-old Pennsylvania homebuilder, filed for chapter 11 bankruptcy and said it will cut the company's debt by nearly half.
Bloomberg
8/13/2010
Texas Rangers Sale Wins Owners' Approval
The Texas Rangers baseball team sale to a group including Hall of Fame pitcher Nolan Ryan won unanimous approval of Major League Baseball's owners.
Fox News
8/12/2010
Wexford Development Files for Bankruptcy
Wexford Development LLC, an Indiana-based real estate development company, filed for chapter 11 bankruptcy protection and plans to continue to operate as a debtor-in-possession.
Bloomberg
8/12/2010
Shoreline Partners Files Chapter 11
Shoreline Partners Ltd., owners of the 21-year old fine-dining restaurant Shoreline Grill, has filed for chapter 11 reorganization.
American-Statesman
8/12/2010
Sea Island Company Reaches Agreement to Sell Assets
Sea Island Company, a private resort and real estate development company, announced it has made an agreement to sell majority of its assets to Sea Island Acquisitions LP, a limited partnership formed by investment funds.
Business Wire
8/10/2010
ISE Files for Chapter 11
ISE Corporation, a developer and manufacturer of Energy Storage Systems and Hybrid Systems, announced it has filed for chapter 11 bankruptcy protection in California.
Market Wire
8/10/2010
IBM Completes Acquisition of Datacap
IBM announced it has acquired Datacap Inc., a provider of software that enables organizations to transform the way they capture, manage and automate the flow of business information.
PR Newswire
8/10/2010
Blockbuster Expected to File for Bankruptcy Soon
Video-rental giant Blockbuster is expected to announce the extension of a forbearance agreement with creditors as it prepares a pre-packaged bankruptcy filing that could occur within the next month.
Home Media Magazine
8/9/2010
Royal Bank of Scotland Sells Credit Card Unit
The Royal Bank of Scotland Group announced it has agreed to sell its credit card payment processing unit to Advent International Corp and Bain Capital for $2.7 billion.
Collections & Credit Risk
8/9/2010
Playlist.com Files for Chapter 11
Playlist.com, a service that lets users create and share music playlists online, has filed for chapter 11 bankruptcy protection. Playlist.com officials have said "the company expects to conduct business as usual and emerge from chapter 11 as quickly as possible."
Digital Media Wire
8/9/2010
EMAK Worldwide Files for Bankruptcy
EMAK Worldwide, Inc.'s parent company and its administrative subsidiary have filed for voluntary chapter 11 bankruptcy. EMAK is a family of marketing services agencies located around the world.
Business Wire
8/9/2010
U.S. Bankruptcy Rulings May be Enforceable in U.K.
U.S. bankruptcy court decisions could be enforceable in England and Wales after a recent important court ruling. Lawyers say there may be implications for former U.K. clients of collapsed bank Lehman Brothers.
Financial Times
8/9/2010
556 Holding in Bankruptcy
556 Holding LLC, a single-asset real estate company, filed for chapter 11 bankruptcy protection from creditors in Manhattan.
Bloomberg
8/9/2010
WaMu Equity Security Holders Seek to Join Shareholders' Case
The Official Committee of Secured Equity Holders of Washington Mutual Inc., which sued the bank March 10 seeking to compel an immediate annual shareholders' meeting, wants permission to intervene in an adversary proceeding brought by WaMu shareholders that seeks "virtually identical relief," the committee said in court.
Bloomberg
8/6/2010
Marriot Wants Innkeeper to Take Brand Name Off Hotel
Marriott International Inc. is accusing hotel operator Innkeepers USA Trust, who is currently in chapter 11 bankruptcy, of stalling on a pledge to take the hotel giants Residence Inn brand name off a Detroit-area hotel.
The Wall Street Journal
8/5/2010
Texas Rangers Sold in Bankruptcy Court
After 12 hours of deliberations and bidding, baseball legend Nolan Ryan and Pittsburgh lawyer Chuck Greenberg bought the Texas Rangers in bankruptcy court for over $608 million.
The Wall Street Journal
8/5/2010
Quality Sign Co. Files for Bankruptcy
Quality Sign Co. based in Alabama has filed for chapter 11 bankruptcy protection claiming incurred tax debts pushed it into bankruptcy. Managers have assured the public that they will settle the debts and remain open.
AL Press Register
8/5/2010
D.C.'s Largest Nightclub Files for Chapter 11
Park Place Inc., owners of D.C.'s largest nightclub, Love, has filed for chapter 11 bankruptcy protection to keep creditors away while they finish the sale of the club.
Washington Post
8/5/2010
Universal Building Products Files for Bankruptcy
Universal Building Products, Inc., a provider of accessories and equipment for the concrete construction industry, announced they have filed for chapter 11 bankruptcy for the company and certain of its subsidiaries.
Business Wire
8/4/2010
FGIC Corporation Files for Bankruptcy
FGIC Corporation files for chapter 11 bankruptcy protection stating that it was not paid dividends by its troubled bond insurance unit since the onset of the financial crisis over two years ago. The private insurance holding company relies on dividends by its FGIC Co unit to operate.
Reuters
8/4/2010
Tribune Bankruptcy Delayed as Fraud Claims Studied
Tribune Company creditors won more time to review evidence behind claims the publisher's 2007 buyout was a fraudulent transfer after the company agreed to delay its effort to exit bankruptcy.
Bloomberg
8/4/2010
Arizona Heart Institute files for Bankruptcy
Arizona Heart Institute has filed for chapter 11 bankruptcy protection and proposed selling its assets to Vanguard Health Systems in a deal valued at almost $6.1 million.
AZ Central
8/3/2010
Kolorfusion Files for Bankruptcy
Kolorfusion International, Inc., developer of a system for transferring color patterns to metal, wood, glass and plastic products, filed for voluntary chapter 11 bankruptcy reorganization in Colorado.
Market Wire
8/2/2010
E-Brands Restaurants Files for Chapter 11
E-Brands Restaurants LLC and its subsidiaries all filed for chapter 11 bankruptcy protection to reorganize some of its debt after a 23 percent revenue decline last year.
Business Journals
8/2/2010
Newark Group has Reorganization Plan Approved
Newark Group Inc., a New Jersey-based manufacturer of paper and paper products, announced a bankruptcy judge approved their bankruptcy reorganization plan, spending less than eight weeks in chapter 11.
Bloomberg
8/2/2010
Custom Cable Files for Bankruptcy
Custom Cable Industries Inc., a manufacturer and installer of audio, video and fiber-optic cables, filed a chapter 11 bankruptcy petition in Tampa.
Bloomberg
8/2/2010
Jesup & Lamont Filed for Chapter 11
Jesup & Lamont Inc., a 133-year-old brokerage firm based in New York, filed for chapter 11 bankruptcy, a month after it was shut down by regulators for not having enough capital.
Reuters
7/30/2010
Neenah Enterprises Emerges from Chapter 11
Neenah Enterprises, Inc., one of the largest independent foundry companies in the U.S., announced it has successfully emerged from chapter 11 bankruptcy and reduced its debt by more than $270 million.
PR Newswire
7/30/2010
Storm King Golf Club Files for Chapter 11
Storm King Golf Club Inc., a member-owned golf course in New York, filed for chapter 11 bankruptcy protection claiming the "general state of the economy" caused a drop in membership.
Bloomberg
7/30/2010
U.S. Concrete Reorganization Plan Approved
A U.S. bankruptcy judge approved U.S. Concrete's plan for restructuring its debts under chapter 11. U.S. Concrete filed for bankruptcy protection in April as part of a pre-arranged restructuring deal with bondholders to cut its debt by $272 million.
Reuters
7/29/2010
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