News and Updates

The Bankruptcy Filing by Providence, Rhode Island Seen As Unavoidable

It’s looking like the capital and largest city of Rhode Island, Providence will be looking into filing bankruptcy because of a budget deficit. A state appointed receiver, Robert Flanders said there is no way around it just as it wasn’t … Continue reading

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American Airlines in the Process of Filing Bankruptcy is Looking to Void Union Contracts

Today, it was announced that American Airlines while in the process of filing bankruptcy plans to try and get the bankruptcy court to retract the union employee contracts next week. They tried to negotiate with the employee unions and have … Continue reading

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Neurologix Announced Its Filing Chapter 7 Bankruptcy to Liquidate

Today, Neurologix Inc. announced it was liquidating by filing Chapter 7 bankruptcy. Neurologix is a clinical stage developer of gene therapies for brain disorders and central nervous system problems. The New Jersey-based company listed assets in the bankruptcy filing of … Continue reading

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Bankruptcy Attorney Predicting Student Loan Bubble

A survey recently was completed by the National Association of Consumer Bankruptcy Attorneys and 81% of all bankruptcy attorneys have reported that over the last few years individuals filing bankruptcy also have a problem with student loan debt. As the … Continue reading

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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

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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

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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

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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

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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

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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

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