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Bankruptcy News and Current Events

Bankruptcy judge gives final approval to Circuit City liquidation plan

A federal bankruptcy judge this morning approved a final liquidation plan that will begin the process to get Circuit City's creditors paid. The plan is expected to go into effect by the end of the month. Once the plan goes into effect, a trustee will be put into place who ...

Bankruptcy Judge slams Credit Suisse's 'greedy antics'

BILLINGS, Montana: A federal bankruptcy judge said he would not reward the "greedy antics" of financial giant Credit Suisse by ordering the repayment of a $229 million loan it arranged for Montana's exclusive Yellowstone Club.

Corporate bankruptcy: Costly and often worthless

Unsecured creditors of Lehman Brothers may have choked last week when Harvey Miller, the lead attorney on the bank's bankruptcy, told Congress that the final bill to unwind its sprawling claims would likely hit $2 billion and take two more years to settle. He also said some of those creditors might only collect twenty cents on the dollar for approved claims.

Consumer bankruptcy costs said rising after reform law

People currently filing for Chapter 7 and Chapter 13 consumer bankruptcy protection are facing as much as a 55 percent cost increase as one result of the 2005 comprehensive bankruptcy reforms, says a new study published in the American Bankruptcy Institute Law Review.

Bankruptcy court delayed sheriff’s sale of Comfort Suites

The sheriff’s sale of a Comfort Suites hotel in Cumberland County was delayed by the bankruptcy proceedings for the property’s owner, Insite Development.

Bankruptcy list

Filed in U.S. Bankruptcy Court, Pittsburgh.

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.

Rapper Young Buck files for bankruptcy after IRS agents raid home

Rapper Young Buck has filed Chapter 13 bankruptcy two days after IRS agents raided his Hendersonville, Tenn., home, court records indicate.

Harrisburg, Tropicana Las Vegas, Shubh, Schutt, Riviera Marine: Bankruptcy

Pennsylvania Governor Ed Rendell said he opposes a bankruptcy filing by the state’s capital city, Harrisburg.

Pennsylvania's Rendell Working to Avoid Bankruptcy Filing by Harrisburg

Pennsylvania Governor Ed Rendell said he opposes a bankruptcy filing by the state’s capital city, Harrisburg, which has told bondholders it cannot make $3.3 million in general-obligation bond payments due Sept. 15.