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Involuntary Bankruptcy

BUSINESS
By Michael Dresser | December 31, 1991
Zale Corp., the nation's largest retail jeweler, became the first major casualty of an unhappy holiday shopping season as it announced yesterday that it would close about 400 of its 2,000 stores and freeze payments on its debts.The highly leveraged Dallas-based company operates about 20 stores in the Baltimore area, trading under the names Zale's, Gordon's and Bailey, Banks & Biddle. A spokeswoman for the company, which has $1.2 billion in annual sales and debts totaling about $850 million, said last night that she could not say which stores would be closed.
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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 Eileen Ambrose, The Baltimore Sun | March 4, 2013
Big Lots Stores Inc. has agreed to purchase inventory from the financially ailing Commerce Corp. for an amount expected to top $6 million, according to recent bankruptcy court documents. The entire proceeds are slated to go to M&T Bank, which was owed $17.9 million by Commerce in principal alone as of late February, court documents said. Creditors of Commerce filed an involuntary bankruptcy petition last month against the Curtis Bay-based distributor of lawn and garden supplies.
BUSINESS
July 14, 1995
The owner of a downtown office building has gone to court to force a now-closed Baltimore advertising agency into involuntary bankruptcy, saying the agency owes $53,000 in lease fees.Fayette Realty Holding Co. Inc. of New York filed its petition in U.S. District Court Wednesday against the Barton-Gillet Co.The small, 75-year-old ad agency closed in April. It had moved from Gay Street offices to One Center Plaza at 120 W. Fayette St. in October 1994.Fayette Realty, an affiliate of J. P. Morgan Investment Management Co. in New York, took control of the 152,000-square-foot One Center Plaza in January 1994 after its developer, the Manekin Corp.
BUSINESS
By Steve Kilar and The Baltimore Sun | February 11, 2013
The foreclosure auction of a 43-acre plot of waterfront land in Westport that was scheduled for Thursday has been canceled because an involuntary bankruptcy petition has been filed against the land's corporate owner, according to the auctioneer. Inner Harbor West LLC, a company affiliated with developer Patrick Turner, owes a construction firm and a land consulting company more than $200,000, according to the petition, filed last week by the consultant and builder. The auction had to be canceled because of the petition, said Andrew L. Billig, a member of the auction house A.J. Billig and Co. The land's trustees will have to convince the bankruptcy judge that the sale should proceed, he said.
NEWS
By MATTHEW DOLAN and MATTHEW DOLAN,SUN REPORTER | May 12, 2006
Two postal employees appeared in U.S. District Court in Greenbelt in separate cases yesterday, with one pleading guilty to filing a false bankruptcy claim against his boss and another accused of stealing checks from the mail. A grand jury indicted George E. Mozee, 46, of Bowie on charges of bank fraud in the theft of personal checks from the mail. Prosecutors accused Mozee, a letter carrier with the U.S. Postal Service, of stealing boxes of personal checks from the mail in the Lamond Riggs Station post office in Washington from July 2004 until August 2005.
BUSINESS
By Arthur Hirsch, The Baltimore Sun | September 8, 2014
Developer Patrick Turner again put off possible foreclosure on the South Baltimore waterfront he wants to redevelop as the parties agreed Monday in backruptcy court to an Oct. 24 hearing on all matters in the case. The delay gives Turner's Inner Harbor West LLC another month or so to attempt to come to terms with creditor Westport Property Investments LLC, which had asked the court to lift the automatic stay triggered by the bankruptcy that blocks foreclosure. If Turner and his creditors don't reach agreement before then, Judge Robert A. Gordon could be asked to decide the fate of Turner's aspiration to turn 43 acres on the Patapsco River into a project including homes, stores, hotels, a high-rise building and a park.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | October 18, 2012
Baltimore County auto insurance salesman Hal Katz is known for his offbeat television commercials, such as the one with the rapper singing, "Hey, Hal, you're the best!" Maryland insurance regulators likely would disagree. The Maryland Insurance Administration has been investigating Katz and his companies in the past several months over the alleged mishandling of premiums and use of unlicensed agents. Last week, Baltimore City Circuit Court placed two of his companies — Interstate Auto Insurance Co. and Katz's Insurance Agency — into receivership.
BUSINESS
By David Conn and David Conn,Staff Writer | November 5, 1993
Unsecured creditors of the failing Leedmark store in Glen Burnie, afraid of being ignored as the store heads toward a January closing, filed suit in federal court to force the company into involuntary bankruptcy.Two Baltimore companies and one in Louisiana, claiming they are owed a total of $268,000, filed the petition Tuesday with the U.S. Bankruptcy Court in Baltimore in an effort to force G. B. Glenmark Ltd. Co. into a liquidation under Chapter 7 of the bankruptcy code.If the court grants the creditors' petition, it will appoint a trustee to oversee the Leedmark store's liquidation and the orderly payment of the proceeds to creditors.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Writer | February 16, 1995
An Elkridge-based clothing manufacturer has been forced into involuntary bankruptcy proceedings by creditors who say Wang Zi Cashmere Products Inc. owes them more than $150,000 from its expansion into the factory outlet store business.The creditors' filing, made last week in U.S. Bankruptcy Court in Baltimore, said the cashmere company did not pay a contractor, a display shelf fabricator and architects who worked on some or all of the company's eight factory outlets, scattered from Massachusetts to California.
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