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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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BUSINESS
By Los Angeles Times | December 6, 1991
NEW YORK -- The New York Daily News is venturing into uncharted waters now that it has become the first major newspaper to seek refuge under Chapter 11 of the federal bankruptcy code.On one hand, analysts and bankruptcy specialists say, the risky strategy of last resort could shield the News from the crumbling Maxwell publishing empire's overseas woes and give the paper breathing room to recover or seek a buyer.On the other, the bankruptcy filing could sink the troubled tabloid by scaring away advertisers and newsprint suppliers.
BUSINESS
By Edward Gunts and Larry Carson, The Baltimore Sun | July 13, 2010
The company that owns most of the regional malls in Central Maryland announced Tuesday that it intends to emerge from Chapter 11 bankruptcy protection this fall as two separate entities, with some key properties in the state going to each one. Chicago-based General Growth Properties said in a bankruptcy reorganization filing that one of the new companies, also called General Growth Properties, would contain most of the regional malls. A second, tentatively given the placeholder name of Spinco, would contain master-planned communities such as Columbia, Md., and Summerlin, Nev., and specialty marketplaces such as South Street Seaport in New York.
BUSINESS
By New York Times News Service Peter H. Frank of The Sun's Business staff contributed to this article | January 25, 1991
CHICAGO -- One of the nation's most venerable brewers, G. Heileman Brewing Co., has become the latest victim of the widespread use of debt in the 1980s.Heileman, which has a brewery in Baltimore County, filed yesterday in New York City for protection from creditors under Chapter 11 of the Federal Bankruptcy Code.The company was unable to make payments on the mountain of debt piled onto its balance sheet when it was taken over in 1987 by Alan Bond, an Australian entrepreneur.Heileman's brands are Colt .45 and Champale malt liquors, Old Style and Black Label beers and La Croix sparkling water.
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.
BUSINESS
By Steve Kilar, The Baltimore Sun | March 2, 2013
The only residents of the Westport waterfront last week were a gaggle of geese that commandeered a large puddle amid the brush and broken asphalt. The only structure was a battered chain-link fence, capturing wind-blown litter along the perimeter. By now the 43-acre tract, assembled and cleared over several years with millions of dollars and personal resolve, was supposed to house hundreds and bustle with office workers. There should be a towering skyscraper and a stadium. Instead, the development company that was going to make that happen is in bankruptcy and the future of the $1.4 billion Westport Waterfront project, thought of as a potential "Harbor West," is uncertain.
NEWS
By Robert B. Reich | September 12, 2014
Detroit is the largest city ever to seek bankruptcy protection, so its bankruptcy is seen as a potential model for other American cities now teetering on the edge. But Detroit is really a model for how wealthier and whiter Americans escape the costs of public goods they'd otherwise share with poorer and darker Americans. Judge Steven W. Rhodes of the U.S. Bankruptcy Court for the Eastern District of Michigan is now weighing Detroit's plan to shed $7 billion of its debts and restore some $1.5 billion of city services by requiring various groups of creditors to make sacrifices.
NEWS
By Robert Gordon | March 4, 2005
WASHINGTON - For a president who has spoken eloquently about America as "the land of the second chance," George W. Bush is grimly committed to stripping second chances from millions of families. That's the message of the bankruptcy legislation facing the Senate this week. Together with Mr. Bush's Social Security plan, that bill would undermine basic American social insurance and take away dignified futures from decent Americans whose lives fell short of their hopes. Today, one American household files for bankruptcy every 20 seconds.
NEWS
November 16, 2004
Sanford "Sandy" Harris, a bankruptcy attorney and partner in a downtown Baltimore law firm, died of congestive heart failure Saturday at Gilchrist Center for Hospice Care. The Pikesville resident was 80. Born in Baltimore and raised on Mount Royal Terrace, he was a 1940 graduate of City College. His studies at the University of Maryland, College Park were interrupted by service in the Army Air Corps during World War II. After working briefly in retail, Mr. Harris earned his law degree in 1956 from the University of Baltimore and was elected to the school's Heuisler Honor Society.
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