Articles Posted in Bankruptcy

Former tennis great Boris Becker has denied he is bankrupt and has sought a restraining order to stop the auction of his possessions. The Telegraph reports that his attorneys have applied for a restraining order to prevent the sale of his belongings that include trophies he won at Wimbleton in the 1980s. Becker told Germany’s…

The former toy giant Toys R Us which has been liquidating its assets after declaring bankruptcy has found a new home for one item that they have been having trouble unloading, a statue of their mascot, Geoffrey the Giraffe. The company has been holding going out of business sales at their stores but this girafee…

It is commonly understood that you are not able to discharge student loan debt through bankruptcy. This is true…for the most part. There are circumstances where you can use bankruptcy. Forbes points us to Make Lemonade for some advice: According to Make Lemonade, there are more than 44 million borrowers who collectively owe $1.5 trillion…

Reports are saying that California’s largest utility company, Pacific Gas & Electric has threatened to file bankruptcy if they are held legally responsible for the wildfires that devastated California’s wine country last year. CBS affiliate Action News 2 reported that an unnamed California legislator told the station that since PG&E were blamed for the fires…

A U.S. Bankruptcy Judge Fredrick Clement ruled that a controversial dairy in Oregon can keep its bankruptcy protections, preventing a liquidation sale sought by the dairy’s main creditor, Rabobank. Lost Valley Farm won’t have to auction off its cattle and instead will be able to sell them along with the farm and its equipment. Rabobank…

Cambridge Analytica, the U.K. political consulting firm that shuttered its doors after a controversy about how it harvested data to influence the last U.S. presidential election in favor of Trump, now faces a group of Facebook users in its bankruptcy. “Data Breach Plaintiffs” filed a notice this past week to appear in the company’s New…

Gilbert (Ariz.) Hospital and Florence (Ariz.) Hospital entered Chapter 11 bankruptcy in May after creditors tried to force the hospitals into bankruptcy to try and recoup $1.96 million they claim the affiliated hospitals owe. In April, three employees of Florence filed an involuntary bankruptcy petition for $46, 650 in wages and the Gilbert involuntary petition…

U.K based Cambridge Analytica, the company that was caught up in the data harvesting scandal with Facebook has filed for bankruptcy in a New York Court. The move comes on the heels of them announcing the winding down of their operations in the UK. The company listed $1-$10 million in liabilities in its filing. In…

A Newton, Mass.based maker of shoes for men and women, Rockport Group LLC, filed for bankruptcy protection Monday, saying it was the result of a “costly and time-consuming separation” from Adidas AG, which owned Rockport until 2015. The company agreed to sell its assets to private equity firm, Charlesbank Capital Partners for $150 million. Under…

Three years after emerging from bankruptcy, the City of Detroit has been released from state financial oversight. Detroit’s bankruptcy was the largest municipal bankruptcy in history. Detroit posted balanced budgets and surpluses for each of the last three years which was a key factor in the decision by Michigan’s Financial Review Commission (FRC) to free…