Malaysia's recent proposal that student loan debtors either be forced into bankruptcy or put into prison for failure to pay their debts could serve as warning to America. While the U.S. does not have a policy of imprisoning debtors for failure to pay student loans, we also do not have a policy for easily freeing [...]
The Shaw Family Archives Ltd. filed Chapter 11 bankruptcy after a series of lawsuits threatened it's future solvency. Sam Shaw, the famous photographer who became most known for his iconic photo of Marilyn Monroe standing over a subway grate holding her billowing white dress, left his estate to various family members; but it hasn't been [...]
For over a month now, the Dallas Stars have reportedly been in quiet negotiations with Vancouver businessman Tom Gaglardi in an effort to secure a buyer as part of a prepackaged bankruptcy deal. Tavares would not confirm details, but two sources said that Vancouver businessman Tom Gaglardi is moving forward with his bid and that [...]
The Crystal Cathedral megachurch is planning to propose a bankruptcy settlement which could be a win-win for both the debtor and its creditors. If approved, the bankruptcy plan could wipe out millions of dollars in debt, require the sell of its campus and famous soaring, glass-spired church to a real estate investment group with the [...]
Borders Group Inc., the large bookseller in Chapter 11 bankruptcy, is currently searching for a buyer of more than 225 of its stores. But so far there has only been slight interest in the company with many predicting that its business model simply is no longer viable with the rise in digital publishing. Barnes & [...]
If you've been watching the news and reading blogs lately, then you probably know that Chrysler, the President and legislators who supported the massive 2008 and 2009 bailouts of automakers, are all congratulating themselves on the repayment of loans made to Chrysler after 2009. But according to at least one blogger, those paybacks are not [...]
Jackson Hewitt Tax Service Inc. filed for Chapter 11 bankruptcy, reportedly holding a prepackaged bankruptcy deal with secured lenders that will allow the tax-preparation company to exit bankruptcy protection within 60 days. The filing comes after U.S. regulators moved to curb the loans that tax preparers arrange for customers expecting refunds. Jackson Hewitt listed [...]
A group of bankruptcy scholars have rallied together to challenge a recent ruling by a U.S. District Court judge which reversed a bankruptcy trustee's decision that the homebuilder Tousa engaged in a fraudulent transfer which needed to be voided. At issue are a series of transactions through which Tousa borrowed $500 million to fund [...]
The Borders' bookstore bankruptcy drama continues to unfold, this time revolving around the company's desire to terminate its licensing agreement with Seattle's Best. Borders Group Inc. is set to seek bankruptcy-court permission to terminate its licensing agreement with the Starbucks Corp. brand, a move that would remove the Seattle's Best name from cafés at Borders' [...]
Clearwire's Chairman and interim chief executive officer of Clearwire, John Santon, has announced that bankruptcy is an option for the high speed internet provider which has fallen short on capital and is in the process of retrenching. However, Santon is seriously mistaken in the way he describes the bankruptcy option available to his company. "Bankruptcy is always an [...]