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Filing For Bankruptcy

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BUSINESS
By Eileen Ambrose and Eileen Ambrose,SUN STAFF | January 23, 2005
Many Americans are swamped by debt, but more than a million of them this year likely will conclude that their bills are beyond their control. They will seek a fresh start through the U.S. Bankruptcy Court. Here, creditors are kept at bay, debt collectors are silenced and, potentially, most of a filer's IOUs can be vanquished. Nearly 1.62 million personal bankruptcies were filed in the 12-month period that ended in September, a 2.6 percent drop from the year before, according to the most recent figures.
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BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | March 21, 2014
Dolan Co., which owns The Daily Record, plans to file for bankruptcy-law protection next week, the Minneapolis-based company announced Thursday. Dolan, a professional services and business information firm, showed signs of mounting financial distress in recent months. It reported losses, hired a chief restructuring officer and in January saw its stock delisted from the New York Stock Exchange as a result of a consistently low share price. Dolan said it had reached agreement with key secured lenders on a "comprehensive balance sheet restructuring.
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BUSINESS
By Ilyce Glink | February 29, 2008
John Ventura's on a mission - a mission to inform consumers about their credit, debt and rights in a bankruptcy. The director of the Texas Consumer Complaint Center at the Houston Law School (where he is an adjunct professor) is also a board-certified bankruptcy attorney with 30 years of experience. And he is alarmed by what he sees going on inside and out of bankruptcy court. Since the change in the bankruptcy laws in 2005, Ventura said, the number of bankruptcy filings has increased about 40 percent.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | February 10, 2014
The parent company of 1st Mariner Bank said Monday that it has signed a deal to sell the bank after years of regulatory demands that it increase its capital, potentially ending the company's long struggle to right itself after the mortgage crisis. A group of investors, many with local ties, have agreed to buy the Baltimore bank — the largest based in the region — and recapitalize it with about $100 million. First Mariner Bancorp, the parent company, said it filed for Chapter 11 bankruptcy protection Monday afternoon in Baltimore federal court to "facilitate the transaction.
NEWS
August 26, 1992
Licensees of a Towson restaurant have been fined $1,500 and ordered to stop serving alcohol for seven days -- penalties that are subject to review by federal bankruptcy officials.The Baltimore County liquor board levied the penalties against Lambis I. Platsis and Konstantin I. Platsis, owners of Mykonos restaurant, for violations in 1990 and 1991, and for an incident Aug. 8 when an undercover county police cadet was served alcohol without being asked to produce identification.Testimony at Monday's board hearing indicated the owners have addressed many of the complaints since filing for bankruptcy protection.
SPORTS
By MIKE PRESTON | December 16, 2008
I listened last week to Ravens players telling area fans not to sell their tickets to Steelers fans, and that if they did it was a lack of respect, and that those who did weren't true fans. Sometimes, players live in their own little worlds. Outside the locker room, and in the real world where we live, a lot of people are getting laid off or taking pay cuts. A lot of companies are filing for bankruptcy. So if a fan sold his tickets and made a few bucks for Christmas this year or made some extra money to pay a few bills, good for him or her. ( For more, go to baltimoresun.
NEWS
August 4, 1997
THOMAS W. REDMOND'S personal financial troubles have given opponents of the Anne Arundel County councilman an opening they hope to exploit in next year's elections. Even though Mr. Redmond looks much more vulnerable after filing for bankruptcy and being slapped with a contempt citation, it is too early to predict how his personal situation will play out politically.Declaring bankruptcy does not carry the stigma it once did. Maryland had 26,739 filings -- with non-business filings making up more than 94 percent -- in the 12 months that ended March 31, according to the Administrative Office of the U.S. Courts.
NEWS
By Lyle Denniston and Lyle Denniston,Washington Bureau of The Sun | May 24, 1991
WASHINGTON -- It is not a crime for elected politicians to seek campaign donations from those for whom they do specific favors in legislation or government action, the Supreme Court ruled, 6-3, yesterday.The federal crime of "extortion," the court declared, only occurs when a politician uses actual threats to get money or makes a direct deal to get paid in return for an official favor.The court said it would require a "quid pro quo" to prosecute an elected official for extortion when money has been paid as a campaign donation.
NEWS
By NEW YORK TIMES NEWS SERVICE | December 2, 2002
BOSTON - The Archdiocese of Boston is likely to declare bankruptcy as a way to grapple with the hundreds of pending lawsuits filed against the church in the clergy sex abuse crisis, a senior financial adviser to the archdiocese said Sunday. The archdiocese has been studying the possibility of filing for bankruptcy for months, and The Boston Globe reported Sunday that financial advisers to Cardinal Bernard F. Law unanimously supported the idea because it would be less expensive than continuing to battle the lawsuits in court.
BUSINESS
By Eileen Ambrose | April 17, 2005
THOUGH Congress and the president want to make it harder for consumers to wipe out their debts through bankruptcy, some lawyers and judges are taking a different approach: They are trying to make sure that people never get into financial straits in the first place. They are doing so by reaching out to those on the verge of getting their first credit cards - high school juniors and seniors and college freshmen. Lawyers and judges around the country visit classrooms and tell students tales from the bankruptcy court front.
NEWS
By Luke Broadwater, The Baltimore Sun | September 12, 2013
Facing a flurry of lead paint lawsuits, a nonprofit company that provides affordable housing in Baltimore has filed for Chapter 11 bankruptcy protection. City Homes Inc. and its subsidiaries, which operate more than 300 apartment units in what officials deem "troubled neighborhoods," face more than 70 lead paint lawsuits, according to the filing in U.S. District Court in Baltimore. In Chapter 11 bankruptcy filings, businesses attempt to reorganize their debts in an effort to continue operating.
NEWS
By Yvonne Wenger, The Baltimore Sun | August 4, 2013
Longtime City Councilman Robert W. Curran filed for personal bankruptcy in June, a move he said was necessary to avoid foreclosure on his Northeast Baltimore home. Curran, 63, said in an interview Thursday that he will repay all of his restructured debt over the next five years under Chapter 13 bankruptcy, which allows individuals to keep their property while developing a plan through the court to repay some or all of the money owed on credit cards, auto loans, medical bills and other debt.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | March 21, 2013
The family owners of The Inn at the Black Olive in Fells Point hope a bankruptcy filing Thursday will give them time to try to attract investors and keep operating the 2-year-old boutique hotel, their bankruptcy attorney said. The Black Olive Development Co. LLC's Chapter 7 filing in Baltimore's U.S. Bankruptcy Court prevented a planned foreclosure auction of the 12-suite luxury inn on South Caroline Street from going forward Thursday morning. Chapter 7 permits an orderly liquidation of assets to repay creditors, but the case could be converted to a Chapter 11 reorganization if the company finds investors.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | March 14, 2013
A Bel Air payroll company under investigation for allegedly not forwarding clients' tax payments to tax collectors has filed for bankruptcy. AccuPay Inc. filed a petition for a Chapter 7 bankruptcy Tuesday in U.S. Bankruptcy Court in Baltimore, listing 95 creditors and debts of between $100,001 and $500,000. Chapter 7 allows for an orderly liquidation of a company's assets to pay off creditors. A bankruptcy attorney for the company's owners said Wednesday that his clients believe they will have funds available to pay creditors.
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 Steve Kilar, The Baltimore Sun | December 31, 2012
Mental health rehabilitation and addiction treatment center Baltimore Behavioral Health Inc. has filed for bankruptcy protection because it owes more than $5.5 million to creditors and estimates its assets are less than $500,000, according to federal court filings. The center will continue to operate during the Chapter 11 restructuring, said CEO Terry T. Brown. "There's a need for us to be here," Brown said of the nonprofit company's West Pratt Street facility, on the northern edge of the Pigtown neighborhood of Southwest Baltimore.
BUSINESS
By Liz Pulliam Weston and Liz Pulliam Weston,LOS ANGELES TIMES | July 30, 2000
I notice most personal finance planners discourage filing for bankruptcy. Are there any situations where you think it's appropriate? I am 30 years old, earn about $45,000 a year and have more than $30,000 in credit-card debt in addition to $9,000 in student loans. Some of the debt is the result of a gambling problem I had for a time, but the vast majority was accumulated this last year and a half as a result of a divorce and custody battle. I now have sole custody of my daughter and have trimmed my monthly expenses as much as possible, yet can barely manage to pay the monthly minimums on my credit cards.
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | October 13, 2001
Saddled by debt and overtaken by better technologies, Polaroid Corp. filed for bankruptcy protection yesterday, a depressing milestone for a firm that 30 years ago was regarded as one of the top investments in America. "It's a sad ending to a unique company," said James Hardesty, president of Hardesty Capital Management in Baltimore and a longtime professional investor who remembers when Polaroid was one of the "Nifty Fifty" group of stocks. Polaroid's Chapter 11 filing in U.S. Bankruptcy Court in Wilmington, Del., listed about $1.81 billion in assets and $948.
HEALTH
By Andrea K. Walker, The Baltimore Sun | December 21, 2012
The pharmacy at the center of a fungal meningitis outbreak that has hit 19 states said Friday it has declared Chapter 11 bankruptcy in Massachusetts. The New England Compounding Center also said it plans to establish a fund to compensate those affected by the outbreak. The outbreak has sickened 620 people and killed 39. In Maryland, 25 people have gotten ill and two have died. The outbreak is linked to three lots of a steroid injection used to treat back pain that clinics and medical facilities bought from New England Compounding Center.
BUSINESS
By Lorraine Mirabella and Eileen Ambrose, The Baltimore Sun | October 11, 2012
Baltimore-based Vertis Holdings Inc., at one time the largest U.S. producer of advertising inserts in newspapers, plans to sell itself to a Wisconsin printing company for $258.5 million through an auction in U.S. Bankruptcy Court. Vertis filed for Chapter 11 protection in U.S. Bankruptcy Court in Delaware Wednesday. It also sought court approval to sell its assets to Quad/Graphics, which produces retail advertising inserts and direct marketing and in-store marketing campaigns. It is the third bankruptcy-law filing in five years for Vertis, which also sought the court's protection to reorganize its finances in 2008 and 2010.
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