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BUSINESS
By Ellen James Martin | October 4, 1991
A Towson-based partnership that owns an office building in Dallas filed this week for reorganization under Chapter 11 of the U.S. Bankruptcy Code.The company, 1212 Limited Partnership, filed its bankruptcy petition after the holder of a second mortgage on the Dallas building began foreclosure proceedings, said Nancy Alquist, an attorney for the partnership.The total mortgage debt against the building is about $15 million, she said yesterday."This is a single office building which ran into some difficulties with one lender," she said.
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BUSINESS
By Steve Kilar and The Baltimore Sun | March 4, 2013
The bankruptcy of the development company behind the Westport Waterfront project can move forward as a Chapter 11 reorganization. Inner Harbor West LLC, one of the companies that developer Patrick Turner formed as part of his planned revitalization of roughly 43 acres in southwest Baltimore, sought Chapter 11 status shortly after an involuntary Chapter 7 petition was filed against the company by two creditors. U.S. Bankruptcy Judge Robert A. Gordon's order allowing the conversion from Chapter 7 to Chapter 11 was entered Monday.
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BUSINESS
By Michael Dresser and Michael Dresser,Staff Writer Sun editorial assistant Audrey Haar contributed to this article | March 20, 1992
Wavedancer Inc., a Columbia-based chain of youth-oriented stores specializing in beachwear and skateboards, filed for federal bankruptcy protection this week in an effort to gain rent relief from its mall landlords.Melvin J. Caldwell, attorney for the company, said all six of Wavedancer's stores remain open and that the 10-year-old chain expects to stay in business at all locations. The chain employs about 60 people.The company, owned by Vincent J. Cerniglia and Mary Catherine Noell, has stores at Owings Mills Town Center, Columbia Mall, Annapolis Mall and Towson Town Center, as well as Springfield Mall and Tysons Corner in Virginia.
BUSINESS
By Steve Kilar, The Baltimore Sun | February 20, 2013
The company affiliated with developer Patrick Turner that was planning to redevelop the waterfront of the Westport neighborhood in southwest Baltimore has filed for bankruptcy. Inner Harbor West LLC, the subject of a Chapter 7 involuntary bankruptcy petition filed by two creditors earlier this month, has asked a federal judge to convert the case to a Chapter 11 bankruptcy, according to documents filed Tuesday in Maryland's bankruptcy court. If the change is allowed, Inner Harbor West LLC could reorganize with trustee oversight and develop a plan to repay creditors.
BUSINESS
By Michelle Singletary and Michelle Singletary,Evening Sun Staff | February 20, 1991
Annapolis Clothing Co. Inc., a women's apparel chain, has filed for a Chapter 11 Reorganization under the U.S. Bankruptcy Code.The chain is the most recent retail victim of the recession, joining other locally based chains such as the 65-year-old L. Epstein and Sons Inc., which filed for bankruptcy two weeks ago. Epstein had announced in January it would liquidate its remaining stores citing adverse economic conditions and a poor retail environment.Annapolis...
BUSINESS
By A Sun Staff Writer | May 6, 1995
Taverna Athena, the Greek restaurant in downtown Baltimore's Harborplace, has sought protection from its creditors under Chapter 11 of the federal bankruptcy code.In the filing Wednesday in U.S. Bankruptcy Court in Baltimore, the restaurant lists liabilities of more than $390,000 and said its assets are worth $169,661.The bankruptcy code's Chapter 11 section allows companies to reorganize their debts while continuing to operate and serve customers. Taverna Athena's owner, Spyros Stavrakas, and its lawyer, Joel Denning, did not return phone calls seeking comment.
BUSINESS
By Michael Dresser and Michael Dresser,Staff Writer | October 2, 1992
Sierra Leather Design, once a thriving chain of Baltimore-area stores dealing in fashionable leather apparel, shoes and accessories, is trying to reorganize under Chapter 11 of the federal bankruptcy law.The Towson-based parent company, Sierra Leather Limited, closed four of its six locations this year and is down to two locations, Towson Town Center and Harborplace.Howard M. Heneson, the company's attorney, said the two stores will remain open while the company negotiates with its creditors.
NEWS
By Erik Nelson and Erik Nelson,Staff writer | December 15, 1991
Rea Keech Buick, the Ellicott City dealership that is struggling to reopen its doors amid fraud allegations, has filed for bankruptcy.Wednesday's Chapter 11 bankruptcy action seeks to free the company to reorganize. A week earlier, sheriff's deputies closed the dealership, froze its accounts and impounded more than 140 vehicles. Keech wasshut down and its 50 employees put out of work pending resolution ofa $3.5 million lawsuit against it by Mellon Bank, which claims the dealership falsified records to avoid paying on $2.75 million in debt.
BUSINESS
By John E. Woodruff and John E. Woodruff,Sun Staff Writer | April 26, 1994
Around behind a Chinese restaurant off North Rolling Road, facing into a back lot where trailer trucks park, is Spittel's, the kind of essence-of-Baltimore suburban bar-cum-crabhouse where you want to ask when the crew arrives to shoot the John Waters movie."
BUSINESS
January 16, 2013
Somewhere in the third year of Tribune Co.'s marathon Chapter 11 proceeding, U.S. Bankruptcy Judge Kevin Carey looked out at a Delaware courtroom packed with high-priced attorneys and conceded the case had broken down into what he called a "multiconstituent melee. " "The parties are represented by some of the best lawyers in the field," he said. "You know how to fight well ... but nobody ends up the better for it, really. " Carey was trying to make a point about the foundation of bankruptcy law, which recognizes that a company and its creditors are better off hammering out a settlement than fighting endless court battles.
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.
BUSINESS
By Andrea K. Walker and Lorraine Mirabella, The Baltimore Sun | May 31, 2012
The Sparrows Point steel mill stumbled into bankruptcy for the second time in 11 years as its owner filed Thursday for Chapter 11 protection from creditors as it prepares to idle operations and cut nearly 2,000 jobs at the plant next week. RG Steel LLC said in documents filed in U.S. Bankruptcy Court in Delaware that it owed more than $1 billion and had run out of cash, giving the first look at the privately held company's troubled finances. It also has $1 billion in assets. The company is seeking a buyer for Sparrows Point as well as its two steel plants in Wheeling, W.Va., and Warren, Ohio, and other steel-related operations, as it copes with a "liquidity crisis.
NEWS
By Hanah Cho, The Baltimore Sun | April 30, 2012
The parent company of Harborside Nursing & Rehabilitation Center in Baltimore, which faced state sanctions for air-conditioning failures more than two years ago, has filed for reorganization under Chapter 11 bankruptcy, according to court documents. Ravenwood Healthcare Inc., based in Baton Rouge, La., listed $10 million to $50 million in liabilities and the same amount of assets, according to documents filed late last week with the U.S. Bankruptcy Court in the Middle District of Louisiana.
BUSINESS
By Hanah Cho, The Baltimore Sun | October 17, 2011
The owners of a ski resort near Deep Creek Lake have filed for Chapter 11 bankruptcy-law protection while they try to resolve financial difficulties related to another business. DC Development LLC, which owns Wisp Resort in Garrett County, announced the filing Sunday. The company has been unable to renegotiate the repayment of a $28.5 million loan with BB&T Corp. The loan was tied to the construction of an 18-hole golf course and community called Lodestone Golf Club. The golf club property, which is near the ski resort, has experienced lackluster sales of home sites.
BUSINESS
April 16, 2010
Erickson Retirement Communities, the national chain of campus-style senior living facilities, emerged from bankruptcy Friday less than six months after filing the Chapter 11 case, attorneys said. Catonsville-based Erickson is being sold to Redwood Capital Investments LLC, a Baltimore-based investment firm, for $365 million. The sale — expected to close by the end of the month — and a post-bankruptcy reorganization plan have been approved by a federal bankruptcy court in Texas, attorneys for Erickson and affiliated debtors announced.
BUSINESS
December 3, 2009
NEW YORK - General Growth Properties Inc. said Wednesday that lenders have agreed to restructure about $9.7 billion in debt under a plan that will allow the nation's second-largest shopping mall operator to emerge from bankruptcy protection by the end of the year. General Growth will pay off loans covering 92 regional shopping centers, offices, community centers and related subsidiaries. The plan will allow the real estate investment trust to retain ownership of the properties, including Harborplace & The Gallery in Baltimore's Inner Harbor.
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