Category Archives: Bankruptcy News

Elevated prices for gasoline and home heating oil are draining family budgets throughout the Merrimack Valley. If you are looking for the likely cause for Massachusetts and New Hampshire consumers to file bankruptcy cases in 2012, you may have to look no further. Even more than the rise in foreclosures, the drop in home values, […]

A federal agency is moving in bankruptcy court against Sun Partners, the owner of the bankrupt Friendly’s restaurant chain, charging them with fraudulently moving assets so that the ice cream stores could avoid paying retirement benefits. Friendly’s lawyers claim “There is nothing nefarious about selling a business in a bankruptcy auction without compelling a buyer […]

If you’ve got bad things to say about a bankruptcy trustee, don’t count on the First Amendment to bail you out. Crystal L. Cox, a blogger from Eureka, Mont., was sued for defamation by trustee Kevin Padrick when she posted online that he was “a thug and a thief” during the handling of bankruptcy proceedings […]

Some changes to the bankruptcy rules went into effect on December 1, 2011. Unlike the wholesale changes that were implemented in 2005, these are to the rules, no the bankruptcy code itself. Most are technical or minor. And it looks like they might actually be helpful to consumers in bankruptcy. The claim form that creditors […]

AMR Corp, the parent of American Airlines, somewhat surprisingly filed for Chapter 11 bankruptcy on Tuesday, joining a crowded group of airlines that have been through bankruptcy court lately. Counter-intuitively, American’s bankruptcy could be a good deal for Merrimack Valley consumers, as the airline is expected to cut fares and join in fare wars with […]

The Roman Catholic diocese serving Orange County in Southern California has been awarded the winning bid in the bankruptcy sale of Rev. Robert Schuller’s iconic Crystal Cathedral in Garden Grove, Calif. The Crystal Cathedral has been in bankruptcy proceedings since 2010 due to a dramatic dropoff in contributions. The church is known for its Hour […]

The Lawrence Eagle Tribune has reported that a bankruptcy filing by the shuttered Daddy’s Junky Music Store chain is imminent. If a bankruptcy case is indeed filed, many of the stores former customers may be in a panic, not knowing how to deal with the filing. Many customers still have unused gift certificates, goods on […]