Bankruptcy Trial for Former Telatron Owners Getting Closer

According to GoErie, The former owners of a bankrupt Erie telemarketing business are getting closer to a trial in U.S. Bankruptcy Court in Erie over claims that they engaged in a multimillion-dollar fraud while they ran the company. Chief U.S. Bankruptcy Judge Thomas P. Agresti last week rejected a proposed settlement that would have ended the case against the two top officials of what had been the Telatron Marketing Group Inc. Agresti, who cited a clerical error in turning down the proposal, has scheduled a trial for Dec. 13-14 at the federal courthouse in Erie. Some of the claims against Telatron are related to an affiliate debt-collection...

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Posted in bankruoty filing , bankruptcy trial , Erie PA Bankruptcy , Judge Thomas Agresti , Telatron Bankruptcy , Trustee Melaragno , U.S. Bankruptcy Court

According to a recent article published by Go Erie, Erie's Community Country Day School have filed for Chapter 11 bankruptcy protection, citing hundreds of thousands of dollars in debt and unpaid taxes that accumulated as the school lost donations and grant funding. Community Country Day School is a private school, founded in the late 1960's with an enrollment of approximately 140 students grades K-12. The school specializes in providing mental health services for students. According to documents filed in U.S. Bankruptcy Court in Erie on November 9th, the school owes the IRS approximately $175,000 in back taxes and that is just the beginning.... $600,000 owed to Northwest Savings Bank $60,679 in Pennsylvania unemployment compensation $41,455 to Awareness Ministries $30,000 to...

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Posted in Chapter 11 Bankruptcy , Erie Bankruptcy , Erie Bankruptcy Court , Erie Community Country Day School , Judge Thomas Agresti , U.S. Bankruptcy Court

Manhatten Federal Bankruptcy Court Will Re-Open

(Reuters) Federal bankruptcy court in Manhattan reopened  Yesterday after being closed for more than two weeks due to flooding and other damage caused by Hurricane Sandy, according to its website. The court, which had been without steam, Internet and phone connection, is "now operational," according to an announcement on the site on Monday. For large companies restructuring under Chapter 11 in New York, like Patriot Coal Corp and American Airlines parent AMR Corp, it means returning to normal after days of postponed or relocated court hearings. The court, a major hub for corporate restructurings and liquidations, is...

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Posted in AMR Corp Bankruptcy , Federal Bankruptcy Court , Hurricane Sandy , NYC Bankruptcy Court , Patriot Coal Corp

CSI Actor Files For Bankruptcy

A pending foreclosure, mounting credit card bebt... CSI Actor Gary Dourdan found himself in the headlines after he was sued over his credit card debt in 2010. His financial troubles continued as Wells Fargo Bank wanted to place his California summer home up for auction this summer to help pay off his mortgage debts. In August 2012, Gary chose the path that so many other have turned to for a new financial start... bankruptcy. In the court documents, obtained by TMZ, Dourdan claims he has just over $1.8 million in assets, but owes several creditors a total of $1.73 million, with the largest creditors being financial institutions. Dourdan...

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Posted in Celebrity Bankruptcy , CSI Bankruptcy , Gary Dourdan , mortgage debt