According to an article in the Dallas Morning News, Texas Attorney General Greg Abbott successfully argued that Debt Relief USA's bankruptcy case should be converted from a reorganization to a liquidation, increasing the chances of recovering $4.6 million owed to former customers of Debt Relief USA. The article said: "Debt Relief USA promised to help [...]
According to an article in the Star-Telegram, Michael Jackson's personal physician is more than $100,000 behind on his mortgage payments and is facing a possible foreclosure on his $1.1 million mansion in the exclusive Red Rock Country Club. The article said: "Murray's lawyer in Houston, Edward Chernoff, issued a statement acknowledging the cardiologist's home was [...]
According to an article in the Dallas Morning News, actor Stephen Baldwin (along with his wife Kennya Baldwin) is millions of dollars in debt and has filed for Chapter 11 bankruptcy. The article said: "A filing Tuesday in federal court in New York shows that Baldwin owes $1.2 million in two mortgages on a property [...]
According to an article in the Star-Telegram, General Motors has emerged from bankruptcy free of massive debt and burdensome contracts that would have sunk the automaker outside of bankruptcy. But many "old" GM employees won't need to pack their traveling bags because they won't be joining the new GM. The article said: "Henderson said the [...]
According to an article in Forbes, a franchisee of 56 Dunkin Donuts restaurants has filed for Chapter 11 bankruptcy due to an extreme decline in sales revenue and massive debt obligations. The article said: "The franchisee, Kainos Partners Holding Company LLC of Greer, S.C., operates 56 Dunkin' Donuts locations in New York, South Carolina and [...]
According to an article in the Dallas Morning News, real estate investors who say commercial real estate broker Henry S. Miller Commercial has refused to pay $9 million in court judgments against him and they are seeking to force the broker into bankruptcy. The article said: "The case revolves around the planned sale of eight [...]
According to an article in the Star-Telegram, the largest CiCi's Pizza franchisee, with 53 outlets has filed for Chapter 11 bankruptcy and expects to emerge as a viable new company. The article said: "Dallas-based Marwin Group has territories in eight states, including the Houston market in Texas. Marwin's pizza management firm, Winmar Pizza, reported liabilities [...]
According to an article in the Star-Telegram, struggling automotive parts supplier Lear Corp. has filed for Chapter 11 bankruptcy. Lear which had $13.6 billion in sales in 2008 is a key automotive parts supplier for General Motors and Ford Motor Co. Of course GM has filed bankruptcy and Ford is still struggling financially despite avoiding [...]
According to an article in the Dallas Morning News, Oceanaire Inc. a high-end seafood restaurant has filed for Chapter 11 bankruptcy protection in Dallas but will keep its Galleria location open. The article said: "The company said its moves will improve the chain's cash flow and should allow it to emerge from court protection by [...]
According to an article in the Star-Telegram, a bankruptcy judge has approved the General Motors' sell of its assets to a new company. The article said: "U.S. Judge Robert Gerber said in his 95-page ruling late Sunday that the sale was in the best interests of both GM and its creditors, whom he said would [...]