Filing Bankruptcy

Scarinci Hollenbeck’s Bankruptcy and Creditors' Rights practice group regularly provides content on filing bankruptcies. Our content provides insight for financial institutions, corporations, insurance companies, leasing and finance companies, and other organizations and business entities interested in filing for bankruptcy.

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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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Core Media Group decides to file for Chapter 11 Bankruptcy Protection

American Idol’s production company, Core Media Group, files chapter 11 It was recently announced that Core Media Group, the company that produces “American Idol” and “So You Think You Can Dance,” had filed for Chapter 11 bankruptcy protection. According to the New York Times, the company cited low ratings for “American Idol,” its flagship franchise, in […]

Author: Joel R. Glucksman

June 17, 2016

Venoco Company files for Chapter 11 Bankruptcy Protection

Venoco files Chapter 11 Venoco, one of the biggest oil and gas companies in the U.S., recently announced that it had filed for Chapter 11 bankruptcy protection. According to the Pacific Coast Business Times, the company cited the fall of oil prices and a pipeline spill last year for its $1 billion debt total. As […]

Author: Joel R. Glucksman

April 12, 2016

Amateur Inventor Platform, Quirky Inc., files for Chapter 11 Bankruptcy Protection

On Sept. 22, Quirky Inc., the start-up amateur inventor platform, known for developing smartphones and mobile device products to control household appliances, announced that it had filed for Chapter 11 bankruptcy protection. According to the Wall Street Journal, the company plans to sell all of its assets for its home business, Wink, for $15 million […]

Author: Joel R. Glucksman

October 21, 2015

Caesars Gets Restructuring Deal with Senior Lenders

On Aug. 21, Caesars Entertainment Corp. announced that it had struck a deal with two of its largest debt holders. This came after it ended negotiations with first-lien creditors who did not approve the company’s massive reorganization plan for its largest operating division, Caesars Entertainment Operating Co. A bankruptcy judge had previously ruled that the […]

Author: Joel R. Glucksman

September 28, 2015

Scarinci Hollenbeck

Grocery Chain A&P Filed for Bankruptcy. Again.

As one of the oldest grocery store chains in the US, as well as having NJ roots, you may be sad to hear that A&P filed for bankruptcy. The chain recently filed for Chapter 11 bankruptcy protection. According to Wall Street Journal, A&P has planned for a series of sales to competitors after it claimed […]

Author: Joel R. Glucksman

August 4, 2015

Detroit's Bankruptcy Directs To Major Pension Funding Crisis

After the largest municipal bankruptcy filing in U.S. history, the Detroit government is struggling for a solution to make payments on what is consdiered a major pension funding crisis. While the $18 billion debt sent the city into a free fall to insolvency, there is now a growing concern about unfunded pensions for retirees and […]

Author: Joel R. Glucksman

July 20, 2015

Largest Rare Earth Miner in the US Files for Bankruptcy

Molycorp, Inc. which is the largest rare Earth miner in the US, is filing for bankruptcy, as they have recently announced plans to file for Chapter 11 to reduce their $1.7 billion debt, according to a WSJ report. The filing is significant because Molycorp Inc. is the only source of rare earth metals in North America and […]

Author: Joel R. Glucksman

July 14, 2015

Bankruptcy Fees Announced Paid By The City of Detroit

As the curtain opens slowly Detroit’s bankruptcy fees are revealed… City officials disclosed Dec. 30 that Detroit paid out approximately $170.2 million in bankruptcy fees and expenses to lawyers and restructuring consultants during its landmark bankruptcy case. When the state’s reimbursement of $5.29 million is considered, the total fees paid from the city’s general fund […]

Author: Joel R. Glucksman

January 15, 2015

The City Of Detroit Emerges From Bankruptcy

The city of Detroit emerged from bankruptcy on Dec. 10, closing a painful chapter in its history and opening the door to a potentially brighter future. Detroit marked the largest municipal bankruptcy in American history, according to The New York Times. Its historic bankruptcy filing lasted a total of 17 months – relatively short compared […]

Author: Joel R. Glucksman

December 18, 2014

Trump Entertainment seeks to stop pension payments

The much beleaguered Trump Entertainment – a company formerly associated with celebrity millionaire Donald Trump – will go before a bankruptcy judge Oct. 2 in an attempt to get out of its pension obligations, according to The Wall Street Journal. Trump Entertainment attorney Kris Hansen told Judge Kevin Gross that escaping the pension payments that it is obligated […]

Author: Joel R. Glucksman

October 2, 2014

Oldest U.S. Cutlery Maker Files For Bankruptcy

Lamson & Goodnow Manufacturing Co., the self-described oldest U.S. cutlery maker, has filed for protection under Chapter 11 of the bankruptcy law, according to Reuters. The Shelburne Falls, Massachusetts-based manufacturer announced the move Aug. 15, citing decisions by prior management and the tightening of credit by secured lender Newtek Business Credit, according to the news source. […]

Author: Joel R. Glucksman

September 11, 2014

Objections Submitted Over Detroit Bankruptcy Plan

The political disputes over Detroit’s restructuring plans were brought sharply into focus May 12, when 15 objections to the city’s debt adjustment plan were filed in bankruptcy court. Objections were filed by creditors, residents, Oakland and Macomb counties and, most notably, by the United States government, according to MLive. The U.S. Department of Housing and […]

Author: Joel R. Glucksman

May 29, 2014

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