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Bankruptcy

BUSINESS
By Andrew Leckey and Andrew Leckey,1987 Tribune Media Services, Inc | May 1, 1991
Recession has helped push the personal bankruptcy rate to a 10-year high.This year's filings should exceed the 1990 figure of 718,107, which was a 16 percent increase over the prior year.Much-publicized financial disasters of major corporations and public figures such as country singer Willie Nelson have made the concept seem more palatable.Some filings are necessary, the result of lost jobs or financial emergencies that can't be rectified. However, others attempt a quick fix, and are entered into casually without consideration of the consequences.
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BUSINESS
By Gus G. Sentementes, The Baltimore Sun | April 14, 2010
The publisher of the Baltimore Jewish Times, a weekly newspaper in the city since 1919, filed for bankruptcy protection Wednesday and blamed its financial woes on losing a legal fight over breaking a contract with its printer. Alter Communications, which also publishes Style and Chesapeake Life magazines, filed for Chapter 11 bankruptcy protection in U.S. District Court in Baltimore. The filing will not affect the company's day-to-day operations for employees, readers and advertisers, the company said, and the Jewish Times and the magazines will continue to be published.
BUSINESS
By Ameet Sachdev and Ameet Sachdev,CHICAGO TRIBUNE | March 7, 2007
CHICAGO -- Business bankruptcy filings are down by 45 percent and corporate debt default rates remain near all-time lows. Yet bankruptcy pros are buzzing with anticipation. While they don't have crystal balls, call them cynical and firm believers in business cycles. Lawyers, consultants and financial advisers who work with troubled companies are getting ready for the next surge in business, which some predict may come as soon as the end of this year. "My experience over the last 20 years is that what goes up, must come down," said Jeff Marwil, a Chicago attorney who last month joined Winston & Strawn's larger bankruptcy practice.
BUSINESS
By Edward Gunts | March 30, 1991
Martin P. Azola, a Baltimore developer who is one of the heroes of the local preservation movement and a nationally known expert on renovation of historic buildings, has filed for protection from creditors under Chapter 7 of the U.S. Bankruptcy Code.In documents filed in Bankruptcy Court earlier this month, Mr. Azola and his wife, Lone, listed assets of less than $300,000 and liabilities of about $10 million. The liabilities apparently are the result of personal guarantees Mr. Azola signed on real estate loans that are now in default.
BUSINESS
By New York Times News Service | December 8, 1994
The sudden plunge of Orange County, Calif., into bankruptcy shook the market for public borrowing across the country yesterday, threatening to make it more expensive for many local governments to borrow. It also left some Wall Street firms facing the potential of big losses.And it served as a warning of how rapidly new and popular financial strategies can sour, leaving an apparently prosperous county unable to pay its bills.Orange County, a suburban area south of Los Angeles, filed for bankruptcy late Tuesday after heavy borrowing and risky investments in its investment pool turned into big losers as market interest rates rose.
BUSINESS
By Thomas Easton and Thomas Easton,New York Bureau of The Sun | June 11, 1991
NEW YORK -- While a military victory abroad prompted a parade on Wall Street yesterday, the aftermath of the financial failure at home of Bridgeport, Conn., caused consternation in the trading rooms upstairs, raising the prospect of other troubled cities having to pay more for money in the future.Municipal borrowing in the credit markets is estimated by one Wall Street firm, Roosevelt & Cross, at $800 billion a year. The money funds bridges, schools, road construction and myriad other public facilities whose use extends beyond the current fiscal year.
BUSINESS
August 3, 2010
Chicago-based General Growth Properties Inc. said it amended its reorganization plan to increase its capital structure flexibility and improve investment terms, and remains on track to emerge from bankruptcy in October. The plan includes the reinstatement of $1.3 billion in bonds due in 2012 and 2013. The company, which in Maryland owns Harborplace, the Gallery, the Village of Cross Keys, Mondawmin Mall, Towson Town Center, Owings Mills Mall and White Marsh Mall, among others, said its emerging financing needs will be met partially by the reinstatement of the bonds and it does not expect to need a previously contemplated term loan.
NEWS
July 5, 1992
A bankruptcy case involving the Montessori Day School in Columbia was inaccurately described in a story published July 5. Carmen Torres, as owner of the school, filed the action, which places all transactions of the school under review by the federal bankruptcy court. The Howard County Sun regrets the error.The Montessori Day School in Columbia has filed for bankruptcy, but its principal plans to move the school to another location in Columbia by Sept. 1.School principal Carmen Torres filed for bankruptcy protection under Chapter 7 on June 24 in U.S. Bankruptcy Court in Baltimore.
BUSINESS
By Jay Hancock and Jay Hancock,Sun Staff Writer | September 21, 1994
Fair Lanes Inc., the nation's biggest independent operator of bowling alleys, received court approval yesterday to emerge from bankruptcy proceedings with new owners, less debt and more money for renovations.U.S. Bankruptcy Judge James F. Schneider accepted a plan that gives all of Fair Lanes' stock to the company's creditors, wiping out the ownership stake of a leveraged buyout firm that bought the bowling concern in 1989.Balfour Investments Inc., a New York investment firm, and AMF, a Richmond, Va., bowling equipment maker and alley operator, will be Fair Lanes' major shareholders after the reorganization.
NEWS
By Charles Shafer | August 30, 2000
ARE THOSE bankers I see hiding behind the women's skirts? The consumer finance industry is conducting an expensive publicity campaign to promote bankruptcy law changes. It's no surprise to see them exaggerate the amount of money lost to dishonest consumers abusing the system. And it's not surprising that they would try to mislead us about the consequences of rules they champion. But it is particularly galling when the promoters of this legislation pretend it will help unfortunate women who are owed alimony and child support by deadbeat dads.
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