Chapter 7

Scarinci Hollenbeck’s Chapter 7 Bankruptcy practice group regularly provides content on entities, including financial institutions, corporations, insurance companies, leasing and finance companies, and businesses impacted by chapter 7. Our content provides insight on dealing with complex and sophisticated chapter 7 bankruptcy matters.

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Scarinci Hollenbeck remains committed not only to providing top-tier legal services but also to regularly providing information and resources to our client base and internet following. Client Alerts provided by our attorneys supply businesses, municipalities, and more with the latest and relevant legal updates that may impact them and how they might be able to proceed.

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Supreme Court to rule on inherited IRAs

The Supreme Court heard oral arguments in a case in which a Wisconsin woman and a bankruptcy trustee are battling over the rights to the $293,000 IRA that the woman inherited from her mother, according to The Wall Street Journal. Heidi Heffron-Clark, 35, and her husband feel that the IRA that Heffron-Clark’s mother passed down to […]

Author: Joel R. Glucksman

April 10, 2014

Gold River businessman gets 17 years for bankruptcy fraud

Gold River businessman Steven Zinnel and his wife were divorced in 1999, and as proceedings dragged on, things got ugly. According to the Sacramento Bee, Zinnel told his wife in an angry email in 2001 that he intended to file for bankruptcy, and that she and the ex-couple’s two teenage children would get nothing. The problem […]

Author: Joel R. Glucksman

March 11, 2014

Chapter 7

Solar panel manufacturer files for bankruptcy

Suntech Power Holdings Corp. filed for protection under Chapter 15 of the bankruptcy law on February 21. The solar panel manufacturer recently defaulted on $541 million worth of bonds, according to Bloomberg News, and is filing for protection from its U.S. creditors while it liquidates in the Cayman Islands. “The Chapter 15 petition is a […]

Author: Joel R. Glucksman

February 28, 2014

Chapter 15

3 High Profile Celebrity Bankruptcies in 2013

People often think that celebrities live lavishly and without a care in the world. While this is true for some, it isn’t always the case. In fact, there were many high-profile celebrity bankruptcies in 2013. 1. Curt Schilling (38 Studios): The former World Series winning pitcher for the Boston Red Sox started his own video game […]

Author: Joel R. Glucksman

January 14, 2014

Creditors Try to Force Evergreen International Airlines into Involuntary Chapter 7 Liquidation

Delford Smith, founder and CEO of Evergreen International Airlines, is struggling to establish a viable financial exit plan for the ailing airline, amid new threats from creditors to push the company into involuntary Chapter 7 bankruptcy liquidation proceedings. The unsecured creditors filed an involuntary petition against Evergreen last week under Chapter 7 of the bankruptcy […]

Author: Joel R. Glucksman

January 3, 2014

Fontainebleau Las Vegas Likely to Reach Settlement Deal

A four-and-a-half year bankruptcy case involving the failed Fontainebleau Las Vegas casino tower may be nearing an end. A U.S. bankruptcy judge said he was inclined to approve a settlement agreement in the messy Chapter 7 bankruptcy proceedings over the $2.9 billion tower, which is considered one of the largest busts in real estate history. U.S. […]

Author: Joel R. Glucksman

November 28, 2013

Can a Rent-Stabilized Lease be Treated as a Bankruptcy Asset?

For the first time in history, a United States Court of Appeals has been given the task of determining whether elusive rent-stabilized leases can be treated as assets under bankruptcy law. The outcome could affect thousands of Chapter 7 bankruptcy cases in New York City and, perhaps, in other urban areas with similar rent protection programs. […]

Author: Joel R. Glucksman

November 1, 2013

chapter 7 Bankruptcy

CNET Founder Halsey Minor Seeks Chapter 7 Bankruptcy Protection

Tech industry investor and CNET Networks co-founder Halsey Minor filed for bankruptcy protection in the U.S. Bankruptcy Court in Los Angeles, only a few short years after selling his company for $1.8 billion. The entrepreneur opted for Chapter 7 bankruptcy, which involves the liquidation of his assets and the sale of non-exempt property, the proceeds of […]

Author: Joel R. Glucksman

June 14, 2013

Payroll Company Files for Bankruptcy Protection

AccuPay, a Bel Air-based payroll company, is seeking bankruptcy protection under Chapter 7 of the Bankruptcy Code as a result of a tax-related investigation. The company listed 95 creditors in court documents and debts of between $100,001 and $500,000 when it filed for protection in a U.S. Bankruptcy Court in Baltimore. The company said it […]

Author: Joel R. Glucksman

April 5, 2013

Grammy Award Winner Dionne Warwick Seeks Bankruptcy Protection

Five-time Grammy award winner Dionne Warwick has filed for bankruptcy protection in New Jersey, listing millions in liabilities, much of which is owed to the Internal Revenue Service. The 72-year-old singer is seeking bankruptcy law protection under Chapter 7 of the Bankruptcy Code, meaning that many of her debts – though not all – may be […]

Author: Joel R. Glucksman

April 4, 2013

Bankruptcy Protection

Bankrupt Company Leaves Weapons Arsenal

A U.S. Bankruptcy Court is treading carefully on a Chapter 7 bankruptcy liquidation that will leave behind a large cache of weapons. Seattle-based company Advanced Interactive Systems recently sought bankruptcy law protection under Chapter 7 of the Bankruptcy Code. The company owns a number of shooting ranges and also trains security professionals, and as a […]

Author: Joel R. Glucksman

March 29, 2013

Chapter 7

Trustee Wants to Auction Grand Casino Boat and Contents

The bankruptcy trustee overseeing the Chapter 7 liquidation of the Mississippi-based Grand Station Casino has submitted a request to auction off the famous casino boat and most of its inventory. Trustee Stephen Smith asked the court for permission to have the vessel auctioned off with all moveable equipment, including furniture, office equipment, a lift, food and […]

Author: Joel R. Glucksman

March 22, 2013

Chapter 7

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