Bankruptcy Filings Down 9 1/2 Percent in Wisconsin

Oct. 21 (Source: By Paul Gores, Milwaukee Journal Sentinel) - The pace of bankruptcy filings in Wisconsin has slowed this year — a welcome trend, but one that attorneys who deal with insolvent consumers and business people said won’t improve significantly until joblessness wanes. Through the first nine months of 2011, federal bankruptcy filings were down 9.5% from the same time last year, to 21,167, U.S. Bankruptcy Court records show. Most of those filings were for Chapter 7 bankruptcy, the type that wipes out debt such as credit card balances, utility bills and medical bills. The state figures track closely with consumer bankruptcy filings...

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Posted in bankruptcy attorney , bankruptcy filings , Chapter 7 Bankruptcy , US Bankruptcy Court , wisconsin bankruptcy

UB40 Files Bankruptcy

According to an article in Rolling Stone - British reggae pop stars UB40 have declared bankruptcy. A judge in Birmingham County has ruled that the band's assets can be seized in order to help pay off their debts, which were largely accumulated by their former management company Dep International Ltd., which went into insolvent liquidation back in 2008. Liquidators are now entitled to the band's royalty payments for their back catalog, including their hit recordings of Neil Diamond's "Red Red Wine" and Elvis Presley's "(I Can't Help) Falling In Love With You." To make matters worse, the group must also pay the costs of their case, which...

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Posted in asset liquidation , UB40 Bankruptcy

Chinese Restaurant May Face Bankruptcy After Dog Meat Rumor

With all of the "serious" bankruptcy news making headlines these days from the LA Dodgers to the State Capital... we decided to focus on some lighter bankruptcy news ... Who hasn't heard rumors of Chinese restaurant's using "dog meat" in their recipes? One UK Woman says, she choked on a microchip, that formerly belonged to a racing greyhound. What?!?  Here's the article as published in the UK's Telegraph - Estelle Johnston, who has run China Rose in Bawtry, near Doncaster, for almost three decades, spoke out after hearing several versions of a similar story from friends, neighbours and customers. She said the rumour revolves around...

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Posted in chinese restaurant bankruptcy , dog meat in chinese food rumor

Harrisburg Files For Bankruptcy Protection

(Wall Street Journal) NEW YORK—After months of contentious debate among city and state officials, Harrisburg, Pa., filed for municipal bankruptcy protection, days before the state Senate was scheduled to vote on taking over the struggling capital city's finances. The city, which faces $300 million in debt over a failed trash incinerator project, filed the paperwork in U.S. Bankruptcy Court for the Middle District of Pennsylvania, in Harrisburg. A faxed filing late Tuesday wasn't valid, according to Terry Miller, clerk of the bankruptcy court. The overnight fax had first been reported by Bloomberg News. Robert Philbin, a spokesman for...

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Posted in bankruptcy filings , bankruptcy protection , Chapter 11 Bankruptcy , harrisburg bankruptcy , Municipal Bankruptcy , US Bankruptcy Court

Living Like A Celebrity Made Me Bankrupt!

MILLIONS of women dream of living like a celebrity, but life can become a nightmare for those who splash the cash. An epidemic of overspending among women has been called the "Kerry Katona Effect" after the reality TV star went bankrupt due to her lavish lifestyle. In just three months this year, 14,827 women were declared bankrupt and they now account for a record level of 48 per cent of personal insolvencies. The Sun interviewed three women whose taste for all things expensive, took their bank accounts into the negatives - here is one of their stories: Aimee, 35 AIMEE ROBINSON lives in Bexhill, East Sussex, with builder...

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Posted in bankrupt women , Celebrity Bankruptcy , celebrity debt

Saab Cruising Closer to Bankruptcy

The administrator in charge of Saab's restructuring under court protection could pull the plug on the process as early as Tuesday, paving the way for declaring the carmaker bankrupt, daily newspaper Svenska Dagbladet reported. Saab has struggled for months to stave off collapse, seeking new investors and selling off assets so it could pay suppliers and employees and resume production at its plant in Sweden. But it has still not received a vital bridge loan of €70m (£61m) that was secured by Chinese car firm Youngman, money that is key to its short-term survival. The paper said negotiations were ongoing in the Swedish capital with Youngman,...

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Posted in carmaker bankrupt , creditor protection , Saab bankruptcy

Bankruptcy Talks Trouble AA Frequent Fliers

So, what happens to those unused frequent flier miles, if an AMR bankruptcy were to occur ? What if you were sitting on a stash of unclaimed miles? Thousands of frequently fliers are worried that their gold mine of AAdvantage frequent flier miles may not be worth a penny if the rocky financial situation at AMR Corp. - parent company of American Airlines continues to spiral downward. "There’s some concern out there," said Tim Winship, publisher of FrequentFlier.com, who has received emails from worried fliers. But if AMR were to file for protection from its creditors under Chapter 11 of the bankruptcy code, American "would continue operations...

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Posted in American Airlines Bankruptcy , AMR Bankruptcy , Chapter 11 Bankruptcy

Friendly's Files Bankruptcy & Closes 63 Stores

Friendly's Restaurant, a 400+ restaurant chain filed for Chapter 11 bankruptcy protection on Wednesday at The United States Bankruptcy Court for the District of Delaware. As a result of the restaurant bankruptcy filing - Friendly's closed 63 stores, each of which employed about 20 people, so about 1,260 jobs were lost.  The 76-year-old company known for its ice cream and hamburgers is the latest restaurant chain to file forbankruptcy, as consumers continue to eat out less, a habit they picked up during the recession, and food costs remain high. "The strategic decision to pursue a financial restructuring will allow us to proactively...

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Posted in Chapter 11 Bankruptcy , Friendly's Bankruptcy , Restaurant Bankruptcy , United States Bankruptcy Courts

Foster Law Introduces a NEW Commercial

Foster Law Offices is pleased to share our NEW Commercial with you! Watch WJET-TV to see the commercial live. We hope you enjoy it!...

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Posted in Debt Commercial , Foster Law Offices