For many people, Chapter 7 bankruptcy is the preferred option for dealing with debt. In this bankruptcy, unsecured debt is simply wiped away after any and all assets have been seized, liquidated, and the proceeds passed on to creditors. However, since many people in dire financial situations simply have little in the way of assets, […]
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St. Louis-based Furniture Brands International, Inc. may face bankruptcy, according to some analysts. The company has faced losses every year since 2007 and was especially hard hit by the housing market collapse in 2008. Because home furnishings are so closely tied with the housing market, if the housing market is down it depresses demand for
St. Louis Bankruptcy Lawyer: Furniture Brands May Face Bankruptcy Read More »
Another high profile bankruptcy made news this month when the company that produced the infamous Girls Gone Wild video series filed for Chapter 11 bankruptcy protection. According to reports, the move comes in an attempt to prevent Wynn Resort from going after its assets. Reports indicate that GGW founder Joe Francis owes millions of dollars to
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Storied American imaging and photographic equipment company Eastman Kodak has agreed to sell over 1,000 patents related to digital imaging as part of deal to receive $830 million in financing. While the plan is still subject to approval by a United State bankruptcy judge, the plan calls for Kodak to sell the patents to companies
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The photography and digital imaging giant Eastman Kodak has again requested that a United States Bankruptcy Judge extend the amount of time it has to emerge from bankruptcy. Kodak is asking that the court extend its deadline to file a bankruptcy exit proposal until May 31st of this year without threat from competing plans and
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Bankrupt snack cake maker Hostess has chosen a lead bid for selling off the rights to its iconic snack cakes. According to a statement issued by the company, it has accepted a joint offer from investment firms Metropoulos & Co. and Apollo Global Management LLC. The two companies have placed a $410 million bid for
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New England Compounding Center, the Massachusetts-based pharmaceutical company that was the source of a deadly fungal meningitis outbreak earlier this year, has filed for Chapter 11 bankruptcy last week. Sources also indicate that the company intends to establish a victims’ compensation fund. In October of 2012, there were reports across several states of cases of
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By now you’ve likely heard that Hostess, the maker of such iconic snack cakes as Twinkies and Ho Hos, has filed for Chapter 7 bankruptcy. But before you go out and clear the shelves of your favorite treat, a closer look at what is going on with the embattled company is in order. Hostess is
Another green-energy company that received federal funding had their Chapter 11 bankruptcy plan approved by a federal judge today. Solar panel manufacturer Solyndra filed for Chapter 11 bankruptcy in the fall of 2011, and immediately suspended all business operations. Solyndra was once touted as a cutting-edge manufacturer of solar photovoltaic systems. The company developed
A high-profile corporate bankruptcy has worked its way into the issues being raised by the GOP in the upcoming election. On October 16th, battery maker A123 systems filed for Chapter 11 bankruptcy after amassing $144 million in debt and missing a $2.7 million interest payment earlier this month. A123 Systems, Inc. was founded in 2001,
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