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BUSINESS
By Jamie Smith Hopkins | jamie.smith.hopkins@baltsun.com | February 26, 2010
Debt collection law firm Mann Bracken, which threw the courts and collections industry into disarray after abruptly shutting its doors last month, has been placed into receivership by the Montgomery County Circuit Court. The firm's attorney, James M. Hoffman, said a receiver was appointed Thursday at Mann Bracken's request. Receivership is an alternative to filing for bankruptcy protection. Mann Bracken said in January that it could not continue handling the cases it had filed against consumers on behalf of creditors.
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BUSINESS
By Lorraine Mirabella, The Baltimore Sun | April 7, 2014
The future of 1st Mariner, Baltimore's largest independent bank, could be decided this week. A bankruptcy judge approved First Mariner Bancorp's request last month to sell its bank as part of the parent company's Chapter 11 bankruptcy filing. Bids for the Baltimore-based bank were due by 4 p.m. Monday. Aside from being sold off, the bank is not included in the bankruptcy, and bank deposits, loans, contracts and other business will not be affected. The bank's parent filed for bankruptcy protection Feb. 10, capping its years-long struggle to get back on solid footing after residential loans soured during the housing bust.
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BUSINESS
By Ellen James Martin and Ellen James Martin,Staff Writer | April 16, 1992
The phone call last week came as a shock. One of the last things Melissa and Maurice Dashiell wanted to hear from their homebuilder's salesman was that the company, NVR L.P., had filed for Chapter 11 bankruptcy protection.But by Sunday, the young couple were feeling confident. They drove to King's Charter, the Bel Air subdivision where the foundation for their four-bedroom colonial had been poured recently. They were pleased to see that the wood for framing the home had been delivered on time.
NEWS
By Luke Broadwater, The Baltimore Sun | September 12, 2013
Facing a flurry of lead paint lawsuits, a nonprofit company that provides affordable housing in Baltimore has filed for Chapter 11 bankruptcy protection. City Homes Inc. and its subsidiaries, which operate more than 300 apartment units in what officials deem "troubled neighborhoods," face more than 70 lead paint lawsuits, according to the filing in U.S. District Court in Baltimore. In Chapter 11 bankruptcy filings, businesses attempt to reorganize their debts in an effort to continue operating.
BUSINESS
By BLOOMBERG NEWS | August 13, 2004
ARLINGTON, Va. - US Airways Group Inc. and its pilots union will begin meeting every weekday starting today to speed talks on $300 million in proposed concessions that would help the carrier avoid a second bankruptcy filing. The meetings at the airline's headquarters follow "irregular" sessions, Air Line Pilots Association spokesman Jack Stephan said yesterday. Company executives, including Chief Executive Officer Bruce Lakefield, made a presentation Wednesday to the union, which represents about 3,000 active pilots and 1,879 who have been laid off. "Both sides realized we need to pick up the pace a little bit," Stephan said.
FEATURES
Tim Wheeler | July 17, 2012
A Delaware bankruptcy judge has allowed environmental groups to appeal RG Steel 's plan to limit its investigation of potential toxic contamination in the waters surrounding Sparrows Point. While bankruptcy filings normally put all litigation on hold, U.S. Bankruptcy Judge Kevin Carey granted a motion to pursue the appeal filed by the Chesapeake Bay Foundation , Blue Water Baltimore and the Baltimore Harbor Waterkeeper . The groups had challenged a Baltimore federal judge's approval of an agreement between RG Steel and federal and state regulators to sample for toxic contaminants no more than 50 feet offshore of the steel mill at Sparrows Point.
BUSINESS
By Steve Kilar, The Baltimore Sun | August 5, 2013
A lawsuit over the ownership of the Westport waterfront that was dismissed last month by a bankruptcy judge will be re-filed in a different court, an attorney for real estate developer Patrick Turner said Monday. Kenneth B. Frank said the suit against potential investors, alleging they conspired to gain control of a 43-acre waterfront in southwest Baltimore, will soon be filed in federal district court. Frank, who represents Turner, his partner Thomas B. Fore and their Westport-related companies, said Judge Robert A. Gordon determined bankruptcy court was not an appropriate venue for the suit.
BUSINESS
By Lorraine Mirabella and Eileen Ambrose, The Baltimore Sun | October 11, 2012
Baltimore-based Vertis Holdings Inc., at one time the largest U.S. producer of advertising inserts in newspapers, plans to sell itself to a Wisconsin printing company for $258.5 million through an auction in U.S. Bankruptcy Court. Vertis filed for Chapter 11 protection in U.S. Bankruptcy Court in Delaware Wednesday. It also sought court approval to sell its assets to Quad/Graphics, which produces retail advertising inserts and direct marketing and in-store marketing campaigns. It is the third bankruptcy-law filing in five years for Vertis, which also sought the court's protection to reorganize its finances in 2008 and 2010.
NEWS
June 4, 2012
Four years ago, the purchase of the Sparrows Point steel mill by OAO Severstal stirred hopes among steelworkers, their families and the community. Last year, the appearance of new owners Renco Group Inc. and its subsidiary, RG Steel, did, too. Four times in the past decade, expectations have periodically been raised in similar fashion. Might the next owners turn things around and provide the needed investments to make Sparrows Point competitive again? Each time, those hopes have been dashed and a parade of managers proved themselves unequal to the task.
NEWS
By Yvonne Wenger, The Baltimore Sun | August 4, 2013
Longtime City Councilman Robert W. Curran filed for personal bankruptcy in June, a move he said was necessary to avoid foreclosure on his Northeast Baltimore home. Curran, 63, said in an interview Thursday that he will repay all of his restructured debt over the next five years under Chapter 13 bankruptcy, which allows individuals to keep their property while developing a plan through the court to repay some or all of the money owed on credit cards, auto loans, medical bills and other debt.
NEWS
August 5, 2013
Regarding City Councilman Robert W. Curran's bankruptcy filing, how can we expect Baltimore officials to run city government and keep within its budget when we have elected officials who can't keep within their own personal budgets (" Councilman Curran files for personal bankruptcy," Aug. 1)? J. Heming Baltimore
BUSINESS
By Steve Kilar, The Baltimore Sun | August 5, 2013
A lawsuit over the ownership of the Westport waterfront that was dismissed last month by a bankruptcy judge will be re-filed in a different court, an attorney for real estate developer Patrick Turner said Monday. Kenneth B. Frank said the suit against potential investors, alleging they conspired to gain control of a 43-acre waterfront in southwest Baltimore, will soon be filed in federal district court. Frank, who represents Turner, his partner Thomas B. Fore and their Westport-related companies, said Judge Robert A. Gordon determined bankruptcy court was not an appropriate venue for the suit.
NEWS
By Yvonne Wenger, The Baltimore Sun | August 4, 2013
Longtime City Councilman Robert W. Curran filed for personal bankruptcy in June, a move he said was necessary to avoid foreclosure on his Northeast Baltimore home. Curran, 63, said in an interview Thursday that he will repay all of his restructured debt over the next five years under Chapter 13 bankruptcy, which allows individuals to keep their property while developing a plan through the court to repay some or all of the money owed on credit cards, auto loans, medical bills and other debt.
NEWS
By Yvonne Wenger and Luke Broadwater, The Baltimore Sun | July 19, 2013
Baltimore officials say Detroit's bankruptcy filing this week is a cautionary tale for the city that underscores the need to fix a $750 million structural deficit before the situation here grows similarly dire. "It is on my mind every day," Mayor Stephanie Rawlings-Blake said Friday, the day after Detroit became the largest city in U.S. history to file for bankruptcy protection. "Once you know that's a possibility, you have to spend the rest of your time trying to prevent it. " Bankruptcy is not currently an option for Baltimore, or any jurisdiction in Maryland - the General Assembly has passed no law to authorize such a move.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | April 24, 2013
A Wednesday bankruptcy filing by Synagro Technologies Inc. means growth and new jobs for the Baltimore area as the waste recycler consolidates its headquarters in White Marsh. The Carlyle Group LP-owned company, which had been co-headquartered in Baltimore and Houston, said Wednesday that it would use bankruptcy to restructure debt and sell its assets to EQT Infrastructure in a $455 million deal. The company filed for a Chapter 11 reorganization of its debts in U.S. Bankruptcy Court in Delaware and said it expects the sale to be completed in two to three months.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | March 21, 2013
The family owners of The Inn at the Black Olive in Fells Point hope a bankruptcy filing Thursday will give them time to try to attract investors and keep operating the 2-year-old boutique hotel, their bankruptcy attorney said. The Black Olive Development Co. LLC's Chapter 7 filing in Baltimore's U.S. Bankruptcy Court prevented a planned foreclosure auction of the 12-suite luxury inn on South Caroline Street from going forward Thursday morning. Chapter 7 permits an orderly liquidation of assets to repay creditors, but the case could be converted to a Chapter 11 reorganization if the company finds investors.
NEWS
March 27, 1997
In Monday's Business section, the incorrect type of bankruptcy filing was listed for Montage D'Elegance Ltd., 708 Reisterstown Road, Pikesville. The women's clothing retailer has filed for protection under Chapter 11.The Sun regrets the error.Pub Date: 3/27/97
NEWS
August 5, 2013
Regarding City Councilman Robert W. Curran's bankruptcy filing, how can we expect Baltimore officials to run city government and keep within its budget when we have elected officials who can't keep within their own personal budgets (" Councilman Curran files for personal bankruptcy," Aug. 1)? J. Heming Baltimore
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | March 14, 2013
A Bel Air payroll company under investigation for allegedly not forwarding clients' tax payments to tax collectors has filed for bankruptcy. AccuPay Inc. filed a petition for a Chapter 7 bankruptcy Tuesday in U.S. Bankruptcy Court in Baltimore, listing 95 creditors and debts of between $100,001 and $500,000. Chapter 7 allows for an orderly liquidation of a company's assets to pay off creditors. A bankruptcy attorney for the company's owners said Wednesday that his clients believe they will have funds available to pay creditors.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | January 8, 2013
RG Steel has filed more than 280 "clawback" suits aimed at getting companies to repay money received from the steel company in the three months before its bankruptcy. RG Steel, formed to buy the Sparrows Point mill and several other facilities in 2011, quickly became insolvent and filed for bankruptcy protection last May. When it auctioned off its mills for pennies on the dollar last summer, it had more than 1,000 creditors in and beyond the region. Now the company is seeking to have suppliers - at least some of which are also creditors - turn over payments it made to them in the 90 days leading up to its bankruptcy filing.
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