Bankruptcy News

Bankruptcy Action Can Be 'Commenced' Despite Failure to Meet Law's Requirements, 2nd Circuit Says

A bankruptcy action can be considered "commenced" even when a debtor has failed to meet a requirement imposed by Congress that he first receive credit counseling, the 2nd U.S. Circuit Court of Appeals has ruled. Interpreting a "statutory tangle" of bankruptcy provisions, the circuit said the counseling requirement under 11 U.S.C. §109(h) is not jurisdictional in nature and a case can still be ...
 
Bankruptcy judge approves Station Casinos reorganization plan, wipes $4B debt off books

RENO, Nev. - A Reno bankruptcy judge has approved a Station Casinos Inc. reorganization plan for creditors to take an ownership stake in some properties and buy others through an auction.
 
Bankruptcy judge confirms Station Casinos reorganization plan

A federal bankruptcy judge in Reno confirmed Station Casinos' plan of reorganization Friday after 90 percent of the company's secured and unsecured creditors signed off on the deal that will wipe some $4 billion in debt from the company's books.
 
Bankruptcy trustee takes over Meridian founder's companies

A court-appointed bankruptcy trustee this week assumed control of 14 businesses owned by Meridian Group founder Darren Berg, who filed for...
 
Is Blockbuster poised to declare bankruptcy?

Rumors of imminent bankruptcy have been dogging the financially struggling Blockbuster video rental chain for years, and a recent report claims that Blockbuster will finally file for Chapter 11 bankruptcy protection as early as next month. But while the easy-to-hate Blockbuster may be down, it’s probably not out—and that’s a good thing for us movie-loving consumers.
 
Bankruptcy won't impact call center

Workers at the Oriental Trading Company call center in Fremontwill not be affected by the company's Chapter 11 bankruptcy filing,a company spokesman said Thursday.
 
Blockbuster Bankruptcy Weeks Away?

Blockbuster may enter into a preplanned bankruptcy as soon as mid-September, according to reports.
 
Spheris Wins Bankruptcy Court Approval of Plan Paying Creditors From Sale

Spheris Inc., a medical transcription company, won Bankruptcy Court approval of its plan of liquidation paying its creditors from the proceeds of selling its assets.
 
Station casinos bankruptcy exit plan approved

Station casinos bankruptcy exit plan approved Bloomberg News Updated Aug 27, 2010 09:26PM MDT Station Casinos Inc., the biggest U.S. gambling company in bankruptcy, has won court permission for its plan to exit bankruptcy by selling most of its casinos to a group led by Chairman Frank Fertitta. Before the firm can close the sales and exit bankruptcy, it must win approval from Nevada gambling ...
 
Blockbuster Preparing for Bankruptcy?

Former video rental giant Blockbuster may be getting close to filing for bankruptcy as a way to escape a mammoth debt burden of over $1 billion. According to reports in the Los Angeles Times and elsewhere, Blockbuster representatives have been meeting with major movie studios to outline their plans for a bankruptcy filing that would see the company shuttering as many as 500 of its nearly 3,500 ...
 

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