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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.
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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.
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.
NEWS
By LOS ANGELES TIMES | March 3, 2005
WASHINGTON - Republican senators continued their steady drive toward passing more stringent bankruptcy legislation yesterday, knocking down a series of Democrat-sponsored amendments to exempt seniors and those facing medical hardship from some of its provisions. The bill, expected to pass the Senate next week, would impose new hurdles for those seeking to erase debts through bankruptcy in an effort to force more Americans to pay back more of what they owe. The measure has been a longtime priority for banks and credit card companies that want to collect more on their debts.
BUSINESS
October 11, 1991
A U.S. bankruptcy judge in Dallas yesterday signed an order confirming the reorganization of Greyhound Lines Inc., formally ending the Chapter 11 saga that began after the bus company's drivers went on strike last year."
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