Saab Receives Bankruptcy Protection
People tend to worry when large corporations file for bankruptcy; it can put hundreds of people out of work, it can have a domino effect on its vendors and suppliers and the amount of corporate bankruptcies can be a general indicator of the state of our economy. But just as in personal bankruptcy, corporations can […]
Solyndra Bankruptcy
Solyndra, a U.S. Solar Company known most recently for receiving a federal loan guarantee of $535 million from the Department of Energy, is closing down and filing for Chapter 11 Bankruptcy. The Company released a statement on August 31st to announce that “Solyndra LLC, the American manufacturer of innovative cylindrical solar systems for commercial rooftops […]
Hussey Copper files for bankruptcy
Another American company has been hit hard by the financial crisis. Pennsylvania based producer of copper products, Hussey Copper Ltd. and affiliates filed for bankruptcy in Delaware on September 27. The company blames the price of copper and plans to sell all assets but will continue to operate until agreements are made. The company employs […]
The Enron Bankruptcy
The Enron bankruptcy was one of the most controversial corporate bankruptcies in the history on the U.S. Not only was it the largest Chapter 11 bankruptcy of all time (which has since been surpassed by both Worldcom and Lehman Brothers) by clocking in with $63.4 billion in assets but the company’s downfall was due to […]
Hospitals Continue to Face Bankruptcy
A bad economy affects everyone; small businesses, large businesses, government jobs, government funded programs, everyone. Hospitals are no different. While many people look at hospitals as a public safeguard for our health, many people forget that hospitals are businesses too. And while all businesses need to at least break even to continue operating, a recent […]
Central Falls Declares Bankruptcy
As the recession rages on, bankruptcies are becoming more common than retirement funds. While personal bankruptcies can set a family back financially, imagine the setbacks an entire city would face. The small town of Central Falls, Rhode Island, is facing that very question now, as it has promised almost $80 million in retirement benefits to […]
Famous Corporate Bankruptcies
As both consumer and business bankruptcies continue to flood our economy, it’s no wonder that our recession has been a long and drawn out one. Corporate bankruptcies always seem to be the most shocking, as Americans tend to think that large companies are invulnerable to the financial struggles of small business owners and consumers. Some […]
LA Dodgers File for Bankruptcy
The current recession has taken its toll on many families and businesses, forcing thousands to file for bankruptcy. Why, then is it so surprising that a professional baseball team could find itself in a similar financial crisis? Many people were shocked to find that the Los Angeles Dodgers are entering a Chapter 11 bankruptcy as […]
Chapter 7 Bankruptcy Verses Chapter 13 Bankruptcy
Choosing to file through, and eventually traveling through the process of filing for bankruptcy can be a difficult and emotionally draining job. Although with the professional assistance of an experienced bankruptcy attorney one can make the process a bit easier on one’s stress level. The most common filings for bankruptcy are that of Chapter 7 […]
Top Three Signs You Should Consider Filing For Bankruptcy
Considering the idea that you may have to file for bankruptcy is not an easy topic to contemplate. An individual should never be ashamed of wanting to clean up their financial past and present; ready to do what it takes to move forward. So how do you know when you should consider filing for bankruptcy? […]