Cheboygan Memorial Hospital back in Bankruptcy Court Friday
A status hearing on the sale of Cheboygan Memorial Hospital to McLaren Health Care is scheduled for tomorrow in US Bankruptcy Court in Bay City. Meanwhile McLaren is offering no information on a Wednesday conference call between interested parties.
Read more on UpNorthLive.com
News Corp.'s Fox Sports Objects to Dodgers' Bankruptcy Exit Plan
“The plan does not contain sufficient information” to allow Fox to ascertain whether its telecast rights are being impaired, it said in court papers filed yesterday in US Bankruptcy Court in Wilmington, Delaware. Fox seeks a written affirmation that …
Read more on Bloomberg
MF Trustee May Sue People at Brokerage
Giddens' statement elaborated on an announcement in Manhattan bankruptcy court earlier today, where he said that he's still in discussions with JPMorgan Chase & Co. about the bank's activities in connection with MF Global, and sees claims against it …
Read more on BusinessWeek
Prairie Blocks bankruptcy case to be tossed, for now
By Ben Meyerson A massive hotel and retail development near McCormick Place in the South Loop is likely to lose a battle in bankruptcy court on a technicality, but plans look good for developers to take a second shot. The Prairie Blocks development, …
Read more on Chicago Journal (blog)
Question by LastLived: Explain what happens when a CITY declares bankruptcy please.?
I overheard in a conversation I was was recently eaves dropping on that a city that one person lived in “Declared Bankruptcy” And they were arguing over what that meant. This of course intrigued me and makes me want to know what the true definition of that means. What happens when your city declares bankruptcy? How do they do it? What has to occur in order for that to happen? Thanks for any info and any extra information you can give me…. YEP!
Best answer:
Answer by Jerry
I’m not an expert, but perhaps can help a bit.
Municipalities file under Chapter 9 of the Bankruptcy code. This is not a common occurrence. The process varies from state to state. In some states, the city goes into state receivership rather than actually filing.
The most common reason is unaffordable union contracts. Example: Vallejo, CA.
A single bad contract can also result in insolvency. Example: Harrisburg, PA.
There is also a current county bankruptcy involving the largest county in Alabama.
Add your own answer in the comments!
Sino-Forest Files for Bankruptcy Protection
By Christopher Donville and Liezel Hill on March 30, 2012 Sino-Forest Corp. filed for bankruptcy protection as part of a plan that may see the Chinese timber grower company sold to bondholders, nine months after it was accused of fraud by short seller …
Read more on BusinessWeek
MF Global CFOs Confound Congressional Questioners
Current and former finance executives of the bankrupt securities dealer frustrate House members with their lack of information about actions taken in the firm's final days. Despite 90 minutes of pointed questioning by US House members on Wednesday, …
Read more on CFO.com Magazine
Tribune Broadcasting says no DirecTV deal
Check back soon for further information. AP's earlier story is below. Tribune Broadcasting is denying that it has reached a settlement with satellite television provider DirecTV Inc. in their contract negotiations. This means that DirecTV subscribers …
Read more on BusinessWeek
Don't Freak Out – And Other Tips for Working With Your Bankruptcy Lawyer
I read about bankruptcy. I file bankruptcies. And because of this sometimes I am afraid that I may lose sight of the fact that my clients simply don't. My goal as a lawyer is to provide my clients with information about the bankruptcy process and then …
Read more on JD Supra (press release)
Solyndra report: No smoking guns
The most detailed account yet of how the solar panel startup won a $ 528 million government loan guarantee and then descended into bankruptcy finds no wrongdoing. But it does not address key allegations, including the White House's role.
Read more on CNN
Petroplus Refinery, Takefuji Loans, Elpida Delisting: Bankruptcy
LyondellBasell Industries NV (LYB), the chemical maker that emerged from bankruptcy in 2010, sold $ 3 billion of bonds to buy back higher-cost debt. The world's third-biggest independent chemical company issued $ 2 billion of seven-year, 5 percent notes …
Read more on BusinessWeek
BGC to Complete Acquisition of Grubb & Ellis Company
NEW YORK, March 27, 2012 /PRNewswire via COMTEX/ — BGC Partners, Inc. (NASDAQ:BGCP) ("BGC"), a leading global brokerage company, today announced that it has received approval from the US Bankruptcy Court for the Southern District of New York to …
Read more on MarketWatch (press release)
Question by : Can a mortgage co, not included in bankruptcy, report “discharged in bankruptcy” on my credit report?
I filed for Chapter 7 bankruptcy in 2005. I only included credit cards in my bankruptcy. My mortgage company, however, reported on my credit report that the mortgage was included in the discharge of my bankruptcy. I was never late during the entire time of my bankruptcy through 4 years later when the home was sold. This record on my credit report is showing to be negative information and has an impact on my score from only credit reporting agency. The other credit reporting agencies that do not list this information has my credit score 36 points higher. I disputed the information and was told that the creditor reports the information to be correct. I contacted the mortgage company and they informed me that they had a right to report that information on my credit even though they were not included. Is there a remedy to remove this negative information from my credit report?
For a better understanding of my situation, the mortgage company only reported the negative information on my credit report after they received noticed that I filed for bankruptcy. They claimed that it didn’t matter if their debt was not being discharged. They believe they were still entitled to state under the mortgage that the mortgage was included as discharge in bankruptcy since I was in bankruptcy status.
For a better understanding of my situation, the mortgage company only reported the negative information on my credit report after they received noticed that I filed for bankruptcy. They claimed that it didn’t matter if their debt was not being discharged. They believe they were still entitled to state under the mortgage that the mortgage was included as discharge in bankruptcy since I was in bankruptcy status.
Best answer:
Answer by Dan B
It looks like they continued to accept your payments on an account that was discharged in bankruptcy. Since they accepted the BK and reported it as discharged, they weren’t entitled to the money you sent them. You may need to contact a BK attorney and have them write a letter to either return the money or remove the discharge from your credit profile. I think they’ll take the latter.
Know better? Leave your own answer in the comments!
Parent company of Saab seeks ways to survive bankruptcy of Swedish carmaker
All left “as a result of a difference of opinion with Swan's CEO Mr. Victor Muller as to the funding alternatives available to Swan after the recent bankruptcy of Swan's subsidiary Saab Automobile AB and the future of Swan and its remaining subsidiary …
Read more on Washington Post
Saab bankruptcy: Museum car collection to be auctioned off on Friday
If you are serious about submitting a tender, or just curious, the Swedish law firm Delphi, which is handling the bankruptcy, has provided information in English about making an offer on a car on the firm's website. (Download “For Bidders in Saab …
Read more on ConsumerReports.org (blog)
Canada's Catalyst Paper files for Chapter 15 bankruptcy
… of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon. Canada's Catalyst Paper files for Chapter 15 bankruptcy.
Read more on Proactive Investors USA & Canada
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