Liberty Medical Supply, a home delivery health care products provider, filed Chapter 11 bankruptcy a midst pressure from creditors. The company is known for providing diabetes supplies and products for a variety of medical aliments. According to the company's website, over 1 million Americans use their medical supplies on a daily basis. Liberty Medical is [...]
Paul Teutul Sr., founder of Orange County Choppers Holdings Inc., filed Chapter 7 bankruptcy for the company's merchandising unit last week in Poughkeepsie, NY. The filing will be used to help liquidate assets to pay off creditors. The merchandising unit provided OCC apparel that at one time was flying off the shelves during peak popularity [...]
Popular video game company Atari U.S. files Chapter 11 bankruptcy in an effort to help the company expand into new digital and mobile gaming concepts. The company has faced numerous financial problems in recent years. Close to 90 percent of Americans recognize the game company logo with some of their most popular games include "Pong" [...]
Actor Gary Dourdan, 45, filed for Chapter 11 bankruptcy in late August of this year after apparently dealing with mounting debt problems. He is most known for being a part of the hit Emmy Award-winning series "CSI: Crime Scene Investigation." It is estimated that he owes over a million to several creditors which include a [...]
A Seattle couple who have been on the run for over a year were arrested in France this week. The arrest of real-estate magnate Michael R. Mastro and his wife Linda was confirmed by the U.S. Attorney's Office in Seattle. The couple was charged with multiple counts of bankruptcy fraud over a year ago and [...]
Battery maker A123 Systems Inc. seeks bankruptcy protection after weak sales of electric cars. The filing will allow the maker to reorganize their business structure while finalizing the sale of automotive assets. The filing is likely to have the Obama administration face more criticism since the president authorized funding for alternative energy companies. It is [...]
Digital Domain Media Group Inc., known for creating eye-catching digital effects for movies such as "Titanic" filed for Chapter 11 bankruptcy this week. The company, founded by director James Cameron, plans to sell the business for an estimated $15 million to a private investment firm. While the company has been in business for 10 years, [...]
Journal Register Company seeks bankruptcy protection again in efforts to reduce costs through selling company assets. The company is parent to 18 newspapers with media properties throughout 10 states. The filing is the second time around for the company, even though it just exited bankruptcy in 2009. The Chapter 11 bankruptcy will help the company [...]
New Salem Missionary Baptist Church in Tampa, Florida seeks Chapter 11 bankruptcy protection in wake of pending foreclosure proceeding from Fifth Third Bank. The church is led by Rev. Henry Lyons, known for creating controversy by scandalizing The National Baptist Convention USA during the late 1990's. Trustees of the church claim they made the decision [...]
Morris Brown College, a historical black college founded by freed slaves back in 1881, filed for Chapter 11 bankruptcy to stop foreclosure proceedings against the school. The college claims they were able to pay on certain debts but along with receiving notice of foreclosure against the establishment, filing for legal protection was seen as its [...]
