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Bankruptcy News and Current Events

WaMu Bankruptcy Examiner Seeks More Time for Investigation of Bank Failure

Washington Mutual Inc.’s bankruptcy examiner asked a court to extend to Nov. 1 the deadline to file a report on the biggest U.S. bank failure.

Judge grants bankruptcy protection to ailing Mexicana

A judge has granted bankruptcy protection to ailing Mexicana airline, which indefinitely suspended all its flights last month, judicial sources said Tuesday.

Schutt Sports, in Bankruptcy, Sues Riddell Over $29 Million Patent Verdict

Schutt Sports, in bankruptcy, has sued Riddell Sports Group Inc. over a patent verdict.

Bankruptcy Guru Offers Mortgage Fixes

Wilbur Ross has some ideas on how the government should fix the housing crisis.

Judge throws out Pitcairn bankruptcy filing

A judge in Wilmington threw out Pitcairn Properties' bankruptcy petition and denied a motion that would have given the Jenkintown real estate firm more time to maneuver in a fight for control against investors who are owed $58 million.

Shubh Hotels Pittsburgh Files for Bankruptcy With Debt of $100 Million

Shubh Hotels Pittsburgh has filed for bankruptcy protection and says it owes creditors as much as $100 million.

Owner of troubled Pa. hotel files for bankruptcy

The owner of a troubled downtown Pittsburgh hotel has filed for bankruptcy. The former Pittsburgh Hilton Hotel filed for Chapter 11 bankruptcy protection Monday in Pittsburgh. The hotel owned by Shubh Hotels Pittsburgh LLC of Boca Raton, Fla., claims in the court filing that it has between $10 million and $50 million in assets and between $50 million and $100 million in debts.

Bankruptcy for adviser to Ponzi scheme victims

Personal injury lawyers carved a niche for themselves in ambulance-chasing, and class-action-plaintiff's attorneys cornered the market on asbestos suits. Unfortunately for boutique firm ITS Recovery Group, the Ponzi-scheme-victims market is not yet ripe for specialization. The legal and tax consultancy, which specialized in helping victims of investment fraud maximize tax-loss deductions and ...

Schutt Sports files Chapter 11 bankruptcy

Schutt Sports Inc. filed for Chapter 11 bankruptcy protectionafter losing a patent infringement lawsuit brought by acompetitor.

Hecker pleads guilty to conspiracy, bankruptcy fraud

Former auto dealer Denny Hecker pleaded guilty to conspiracy and bankruptcy fraud this afternoon in Minneapolis in a deal with prosecutors that dropped most of the charges against him. He could face up to 10 years in prison.