Advertisement
HomeCollectionsBankruptcy Proceedings
IN THE NEWS

Bankruptcy Proceedings

FEATURED ARTICLES
BUSINESS
By Kevin Thomas and Kevin Thomas,Evening Sun Staff B | July 18, 1991
W. Bell & Co., the beleaguered catalog showroom retailer based in Rockville, has informed employees that the once-popular discount chain will go out of business in the near future, closing 10 stores and leaving hundreds of workers without jobs.A letter from Bell Executive Vice President Bernard Blum was distributed to employees earlier this week, explaining the company's decision but giving no date for the closings.Al Volski, manager of the Cockeysville store, said today that the letter informed workers that liquidators assigned by the U.S. Bankruptcy Court in Rockville will be visiting all stores within 10 or 20 days.
ARTICLES BY DATE
NEWS
By Colin Campbell and Jamie Smith Hopkins, The Baltimore Sun | April 19, 2014
High finance is a small world, just as Baltimore is a small town, and it showed as potential conflicts of interest cropped up during a fight over ownership of the city's biggest local bank. Two groups bid for 1st Mariner Bank in an April 10 auction, held because its parent company is in bankruptcy protection. The parent, First Mariner Bancorp, initially named Pennsylvania-based National Penn Bank the winner, saying its advisers and creditors considered that bidder more likely to get quick regulatory approval.
Advertisement
NEWS
May 1, 2009
One hundred days into his presidency, do you think President Barack Obama is doing a good job? (1,185 votes; results are not scientific) NEXT poll Would you be less likely to buy a car from a company that was in bankruptcy proceedings? Cast your vote at baltimoresun.com/vote
NEWS
By Cal Thomas | March 16, 2013
Since the Motown sound went silent -- except on oldies stations -- and General Motors and Chrysler (but not Ford) required life support from Washington, there has been little to recommend Detroit, Mich., to visitors, much less its residents. The recent conviction of Kwame Kilpatrick, the former mayor of Detroit, on multiple charges, including racketeering, fraud and extortion, adds another insult to the city's injury, increasing its misery. During the mid-20th century, Detroit was a vibrant city with a population of almost 2 million.
NEWS
By Stephen Kiehl and Stephen Kiehl,SUN STAFF | November 23, 2002
The owners of the short-lived Galeano's Restaurant in Little Italy were indicted yesterday on one count of wire fraud and one count of bankruptcy fraud, authorities said. Daniel H. Galeano, 61, and Teresa M. Galeano, 43, formerly of Baltimore and now of Tannersville, Pa., owned and operated their High Street restaurant from Dec. 31, 1997, through the middle of last year. They had previously operated a restaurant of the same name in Fenwick Island, Del. According to the indictment, the Galeanos fraudulently procured a mortgage loan in late 1999 to purchase a house on Stiles Street in Little Italy.
BUSINESS
By Robert Nusgart and Robert Nusgart,SUN STAFF | May 9, 1997
Richard M. Yaffe, president of Landmark Homes Inc., said yesterday that the beleaguered company is "winding down" and will cease as an active homebuilder.Yaffe, who recently split with partner Gary Houston, said the company has not filed for bankruptcy court protection and intends to complete 14 homes under construction. He said it will honor claims made by homeowners whose homes are still under warranty.Rumors that the Towson-based company, which has had a number of lawsuits filed against it, was in bankruptcy proceedings and was going out of business had been circulating in the local building industry.
BUSINESS
By Hanah Cho, The Baltimore Sun | October 13, 2010
A trustee will be assigned to the bankruptcy proceedings for the closed Rosecroft Raceway in Prince George's County, according to a court ruling issued today. Last month, the trustee for the U.S. Bankruptcy Court's Greenbelt division requested that the harness racetrack be converted from a reorganization to a liquidation. The trustee also offered an alternative: to assign a Chapter 11 trustee to the case. Judge Paul Mannes wrote in his decision that "although grounds exist for converting the case … this Court determines in its discretion that appointment of a Chapter 11 Trustee is the better course.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Writer | February 16, 1995
An Elkridge-based clothing manufacturer has been forced into involuntary bankruptcy proceedings by creditors who say Wang Zi Cashmere Products Inc. owes them more than $150,000 from its expansion into the factory outlet store business.The creditors' filing, made last week in U.S. Bankruptcy Court in Baltimore, said the cashmere company did not pay a contractor, a display shelf fabricator and architects who worked on some or all of the company's eight factory outlets, scattered from Massachusetts to California.
BUSINESS
By Jay Hancock and Jay Hancock,Sun Staff Writer | August 10, 1994
Most landlords have agreed to give Merry-Go-Round Enterprises Inc. until Jan. 31 to decide how many more of its 1,300 stores to close as it tries to reorganize under bankruptcy proceedings.There's one condition, though: The Joppa-based fashion retailer can't shut stores owned by certain landlords between Sept. 18 and Dec. 31. That way, mall operators won't have unexpected vacancies for the important holiday shopping season.The agreement, disclosed in filings in U.S. Bankruptcy Court in Baltimore, increases the likelihood that Merry-Go-Round's bankruptcy proceedings will extend into 1995.
BUSINESS
By Jay Hancock and Jay Hancock,Sun Staff Writer | April 1, 1995
Merry-Go-Round Enterprises Inc. disclosed yesterday the extent of its losses after its first year in bankruptcy proceedings: $186.3 million.The large loss, which came on sales of $782.8 million, was inflated by lawyers' fees, lease-cancellation claims, asset write-offs and other one-time reorganization costs.But even when taxes, interest, depreciation, write-downs and reorganization expenses are excluded, the Joppa-based Merry-Go-Round lost $52.5 million for the year ended Jan. 28.The size of the net loss, $3.45 per share, was expected by Merry-Go-Round's creditors.
BUSINESS
By Timothy B. Wheeler, The Baltimore Sun | August 9, 2012
Residents around Sparrows Point filed suit Thursday against the owners of the Baltimore County steel mill and a cement plant on the peninsula, contending that neighbors' health has been put at risk and their property contaminated by pollution from industrial activities there. The suit, filed in Baltimore County Circuit Court, seeks damages from RG Steel and LaFarge North America for exposing surrounding residents to hazardous and carcinogenic air pollutants, a gritty dust called "kish" and "noxious stenches and odors.
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.
SPORTS
By Jamie Smith Hopkins, The Baltimore Sun | June 5, 2012
Are you saving more money than a Super Bowl champion? Jamal Lewis, the former Ravens running back, offered the nosy a look at his finances when he recently filed for Chapter 11 bankruptcy protection . For instance, he makes $35,000 in an average month and spends $34,050 of it, leaving him with $950 left over, according to court documents. You can see the full 75-page rundown here . Highlights: o His monthly mortgage costs, not including taxes and insurance: $6,000 o Monthly vehicle payments: $5,700 o Biggest monthly outflow by far: $18,000 for regular expenses from operating a business o Charitable contributions: $0 All told, Lewis tallies up about $14.5 million in assets and $10.6 million in liabilities.
NEWS
By Larry Perl, Baltimore Messenger | February 4, 2012
As he often does, 97-year-old Dorsey Yearley sat on a bench with his cane in his lap outside the Giant store in the Rotunda in Hampden, people-watching on a Friday afternoon. "This is plenty convenient for us," said Yearley, who lives at Roland Park Place, one of two retirement communities across the street. But his cheerful tone turned mournful when told that one of his most reliable and essential destinations in the mall, the Giant Food store, is departing after 41 years and is relocating down the street to the Fresh & Green's store, formerly a Superfresh, in the Greenspring Tower Shopping Center.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | April 1, 2011
Pimlico Race Course and Laurel Park lost a combined $20 million last year, according to new figures from the Maryland Jockey Club. Most of that loss came in the first four months of the year. State regulators Friday released unaudited results for that period, following a late Thursday release of audited financial information for May through December that showed a loss of just under $7 million for the two thoroughbred racing tracks. The tracks lost more than $14 million in 2009 and nearly $12 million in 2008, according to unaudited financial statements.
BUSINESS
By Andrea K. Walker, Jamie Smith Hopkins and Lorraine Mirabella, The Baltimore Sun | January 31, 2011
A Delaware judge confirmed Monday a reorganization plan by chemical maker W.R. Grace, a critical step for the Columbia company to emerge from bankruptcy. The plan, which was reviewed by Judge Judith Fitzgerald, would create two asbestos trusts to compensate personal-injury claimants and property owners. Asbestos-related lawsuits were a large part of why Grace filed for Chapter 11 protection in 2001. "She blessed the plan," said Peter A. Chapman, president of Bankruptcy Creditors' Service, which publishes newsletters about major corporate restructurings.
BUSINESS
By Bloomberg Business News | January 14, 1994
Investors in distressed securities are paying unusually high prices for the trade debt of Merry-Go-Round Enterprises Inc., which filed for Chapter 11 bankruptcy protection Tuesday."
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.
NEWS
By Nick Madigan, The Baltimore Sun | November 16, 2010
Skateworks, the roller rink in Woodlawn that has long struggled with allegations of violence and rowdiness, has closed. The business, which opened two years ago in an industrial park off Whitehead Road, is tied up in bankruptcy proceedings, with more than $575,000 in debt, and linked to accusations that a 12-year-old girl was gang-raped there Aug. 14. The closure follows the revocation of Skateworks' two operating licenses, a result of the arrests...
BUSINESS
By Hanah Cho, The Baltimore Sun | October 13, 2010
A trustee will be assigned to the bankruptcy proceedings for the closed Rosecroft Raceway in Prince George's County, according to a court ruling issued today. Last month, the trustee for the U.S. Bankruptcy Court's Greenbelt division requested that the harness racetrack be converted from a reorganization to a liquidation. The trustee also offered an alternative: to assign a Chapter 11 trustee to the case. Judge Paul Mannes wrote in his decision that "although grounds exist for converting the case … this Court determines in its discretion that appointment of a Chapter 11 Trustee is the better course.
Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.