Residents of Pennsylvania may be interested in the financial problems of Curtis James Jackson III -- better known as the rapper 50 Cent. He recently filed for the protection of bankruptcy in another state. This filing followed only a few days after a jury in another...
Firm News
Restaurant chains can get reorganized through Chapter 11
Chapter 11 rehabilitation for restaurants and fast food operations is no stranger to Pennsylvania bankruptcy attorneys. As with any other business, a restaurant or small chain of eateries may encounter cash flow problems and get behind on debt obligations. That...
Coal mining operation files Chapter 11, names stalking horse
The 12th largest coal producer in 2013 was Patriot Coal Corp., a company that recently filed a Chapter 11 bankruptcy for the second time in three years. This time Patriot intends to sell the majority of its assets, keeping only some mining operations. It has announced...
Bankruptcy can prevent eviction and allow for reorganization
One of the benefits of Chapter 11 for a Pennsylvania business is that the company generally can continue operating during the bankruptcy proceedings. During that time, it can attempt to devise a plan to restructure its debt and reorganize the company's financial and...
Chapter 11 reopened on creditor’s claim of hidden real estate
When a company is in bankruptcy in Pennsylvania or any other jurisdiction, the debtor company must reveal the existence of all assets, including all real estate owned. The company cannot simply sell real estate or other assets without court approval. In one Chapter 11...
Chapter 11 offers a company versatile choices for reorganizing
Women's clothing retailers across the country, including in Pennsylvania, have had a particularly bad year, with several national chains filing for bankruptcy. The latest company to file for Chapter 11 relief is a well-known bra and lingerie seller with stores in the...
Anchor Hocking files bankruptcy, has plan to restructure debt
A Chapter 11 bankruptcy is generally a reorganization procedure allowing a business in Pennsylvania or elsewhere to get rid of some of its debt and negotiate restructuring of other debt, thus perhaps allowing the company to keep operating with a modified debt...
Bankruptcy filed to forestall execution of $25.9 million verdict
In Pennsylvania and other states, a crippling money judgment against a company may result in the company deciding to file bankruptcy. In some instances, that may be done to delay the execution of the judgment pending appeal, and to allow for possible reorganization of...
Chapter 11 bankruptcy filed by tech-challenged SkyMall magazine
All types of businesses, including in Pennsylvania, have taken advantage of the federal bankruptcy laws to reorganize their affairs and attempt to stay in business with a streamlined new business approach. The legal vehicle for that attempt is a Chapter 11 bankruptcy...
The true facts of bankruptcy make it an option to consider
For Pennsylvania consumers who listed financial survival and economic improvement as a New Year's resolution, consideration of bankruptcy may possibly be timely. Any discussion of the topic usually first contends with its sinister image. However, when someone begins...