The future of Tamarack Resort is uncertain after a federal judge dismissed the company's Chapter 11 bankruptcy case, sending it back to state court where foreclosure proceedings may eventually proceed to a sheriff's sale. Tamarack, which had an offer of $40 million to buy the company in Chapter 11 bankruptcy, is now uncertain if it [...]
Dr. Arnold Klein, Michael Jackson's former dermatologist, has filed for Chapter 11 bankruptcy with over $3.5 million in debt. According to the bankruptcy filing, the list of creditors holding the 20 largest unsecured claims against Dr. Klein amounts to $3,518,584.The biggest accumulative debts against Dr. Klein was with City National Bank totaling some $2,695,150 in [...]
Bankruptcy Judge Kevin J. Carey thinks that creditors in the Tribune Co. bankruptcy are requesting too many documents related to the confidential settlement talks. But creditors say that the settlement is shrouded in too much secrecy. U.S. Bankruptcy Judge Kevin J. Carey said today he was concerned that approving the demand for documents by lower- [...]
Lehman Brothers Holdings Inc. submitted to their creditors a revised Chapter 11 bankruptcy plan and hopes to get the approval of the bankruptcy court by June or July. The revised bankruptcy plan......would give the average Lehman creditor 18.6 cents on the dollar, an increase from 14.7 cents in its first plan, outlined in March and [...]
In a lawsuit against a bankruptcy attorney brought by former bankruptcy debtors, the debtors claimed that they are now liable to pay tax debt which was thought to be discharged in bankruptcy. The suit was filed pro se and the couple claims that, for five years, they were under the impression that "the debt in [...]
Charles Batch, a Pittsburgh Steelers player has filed bankruptcy. Many find it difficult to imagine celebrity athletes falling into financial trouble; but fame and wealth are not shields from insolvency. Like many ordinary Americans, Batch sank a lot of money into the once booming real estate market. But when the market went south so did [...]
Shareholders of Washington Mutual are moving quickly to appeal the bankruptcy trustee's decision that the underlying concept of the WAMU bankruptcy settlement was fair and reasonable. Lawyers for shareholders cited "the historic nature of this bankruptcy," and the size of the settlement-nearly $6 billion-as the basis for asking permission to go to the appeals court [...]
The family of the now bankrupt Fair Finance company owner is facing a lawsuit brought by the bankruptcy trustee in an attempt to recover more than $1 million which was allegedly looted from the estate through "insider loans."The lawsuit is part of the ongoing effort to try and recover some of the more than $200 [...]
The ex-husband of "Real Housewives of Orange County's" Tamra Barney has been hit with a bankruptcy dismissal after failing to deliver documents to the bankruptcy court. Her ex-husband filed for bankruptcy last year, but now he has just been denied by the court and has been issued a "notice of dismissal" for failing to "file [...]
When it comes to individual and business finances, the two often mix, especially for the self-employed in bankruptcy. Such is the case for celebrity rapper Young Buck who was in a Chapter 13 bankruptcy paying $12,500 a month for 60 months. The bankruptcy court had ordered that the rapper's company, Cashville, dock his pay over [...]