Category Archives: News and updates

Greece Avoids Bankruptcy Filing With Biggest Debt Write-Down in History

Today, the Prime Minister of Greece, Lucas Papdemos announced that the country’s creditors had agreed to take pennies on the euro by writing down the debt. By doing this, Greece can avoid filing bankruptcy and get a second bail out … Continue reading

Posted in News and updates | Tagged , , , , | 11 Comments

Stockton Bankruptcy Filing on Hold as Sides Prepare for Mediation

With the city of Stockton, California preparing for mediation to avoid a bankruptcy filing, the media and the public have been throwing blows back and forth over the municipality. This city will now have to sit down and have mediations … Continue reading

Posted in News and updates | Tagged , , , , | 4 Comments

American Airlines Lost $234 Million in January While in the Process of Filing Bankruptcy

American Airlines, who is in the process of filing bankruptcy under Chapter 11 announced that it lost $234 million in January. Included in this loss was restructuring expenses of $155 million and $15 million to pay for financial advisors and … Continue reading

Posted in News and updates | Tagged , , , , | 2 Comments

Real Estate Giant Grubb & Ellis Enters into Bankruptcy Filing

Today it was announced that Grubb & Ellis is entering into a bankruptcy filing because of the struggling commercial real estate market. The company ran into problems that led to the bankruptcy filing because of facing $30 million in debt … Continue reading

Posted in News and updates | Tagged , , , , | 1 Comment

Is Greece Announcing It Is Filing for Bankruptcy?

This week, a secret report came out from the EU/ECB/IMF. The troika report was about Greece and showed that even with the best scenario for the country will soon be announcing its filing for bankruptcy. Recently, the news reported a … Continue reading

Posted in News and updates | Tagged , , | Leave a comment

Two More American Airline Executives Quit During Bankruptcy Filing

On November 29, 2011 the third largest US airline entered into a bankruptcy filing because of financial issues. Today it was announced that American Airlines had two executives that were leaving as a result of management restructuring during the bankruptcy … Continue reading

Posted in News and updates | Tagged , , , , | 1 Comment

Gary Busey Announces He Is Filing Chapter 7 Bankruptcy

Movie star Gary Busey announced today that he was filing Chapter 7 bankruptcy. In the bankruptcy court papers it stated the actor had less than $50,000 in assets and debts as much as $1 million. Over the years, Busey has … Continue reading

Posted in News and updates | Tagged , , , , | 13 Comments

After Filing Bankruptcy American Airlines Wants to Terminate Its Pension Plans

  This week, American Airlines who entered into bankruptcy filing back in November announced that it wanted to terminate its pension plans for its 130,000 employees. Since 2006, American Airlines has already saved $2.1 billion because of two congressional measures … Continue reading

Posted in News and updates | Tagged , , , , | 4 Comments

Using Their Bankruptcy Filing, American Airlines Plans on Cutting 13,000 Jobs

American Airlines is using their high-profile bankruptcy filing to benefit them by eliminating 13,000 jobs or 15% of its workforce. The ailing airline is doing everything it can to remake itself using the bankruptcy filing. As part of the bankruptcy … Continue reading

Posted in News and updates | Tagged , , , , | 2 Comments

The LA Dodgers Plan to Exit Bankruptcy Filing by April 2012

On January 21, 2012, the Los Angeles Dodgers filed the plan with the bankruptcy court to exit their bankruptcy filing by April 30. The plan includes paying off all their debts after the team is auctioned off. The team is … Continue reading

Posted in News and updates | Tagged , , , , | 17 Comments