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    Category: History

    • Chapter 9 Bankruptcy – Santa Cruz, CA & Calpers Pension Crises

      Chapter 9 Bankruptcy – Santa Cruz, CA & Calpers Pension Crises

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      The City of Santa Cruz, CA is one of the latest municipalities to fall into what some have called a “…disturbing trend that will end in a full-fledged pension crisis” across the breadth and width of the nation. Santa Cruz is a California coastal community of 65,000 residents situated some 75 miles southwest of San…

    • Public Sector Pension Plans: A “Ticking Time Bomb”

      Public Sector Pension Plans: A “Ticking Time Bomb”

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      According to a December, 2017, washingtonfreebeacon.com report “…unfunded liabilities of state public pension funds increased by $433 billion over the past year and presently exceed $6 trillion…”. The report continues, “Unfunded liabilities of public pension plans continue to loom over state governments nationwide. Absent significant reforms, unfunded liabilities of state-administered pension plans will continue to grow…

    • Winn-Dixie to Close 94 Stores – Parent Company to File for Chapter 11 Bankruptcy

      Winn-Dixie to Close 94 Stores – Parent Company to File for Chapter 11 Bankruptcy

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      Florida-based Southeastern Grocers – the parent company of the Winn-Dixie grocery chain – announced yesterday that it will file for Chapter 11 bankruptcy by the end of March. Southeastern said it is “…implementing a court-supervised, pre-packaged” debt restructuring agreement after “conducting a thorough review of options for reducing our current debt”. The company expects to…

    • PUERTO RICO & BANKRUPTCY

      PUERTO RICO & BANKRUPTCY

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      The island of Puerto Rico is officially a Commonwealth of the United States. Puerto Ricans are citizens of the United States who share many of the same rights and benefits of their fellow citizens living on the mainland. Until February, 1898, Puerto Rico had been under the colonial rule of Spain for centuries. In that…

    • Harvey Weinstein / The Weinstein Company – Chapter 11 Bankruptcy in the Offing as Sale Talks Fail

      Harvey Weinstein / The Weinstein Company – Chapter 11 Bankruptcy in the Offing as Sale Talks Fail

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      “Born under a bad sign, been down since I began to crawl if it wasn’t for bad luck, I wouldn’t have no luck at all…” (“Born Under a Bad Sign” -Original Version, Albert King, 1967; covered by Cream, 1968) Today, Albert King’s song might seem like the “anthem” of (former) movie mogul Harvey Weinstein, and,…

    • Hcr Manorcare, Inc. – $7 Billion In Debt – Files For Chapter 11 Bankruptcy

      Hcr Manorcare, Inc. – $7 Billion In Debt – Files For Chapter 11 Bankruptcy

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      HCR Manorcare, Inc., the second largest nursing home operator in the United States, has filed a voluntary petition for Chapter 11 Bankruptcy. The Toledo, Ohio-based company has $7 billion in debt.. Informed sources say the Chapter 11 petition is part of a pre-arranged debt-for-equity swap deal whereby ownership of the HCR will be transferred to…

    • Remington Outdoor, Co. (Remington Arms) Set To File Chapter 11 Bankruptcy

      Remington Outdoor, Co. (Remington Arms) Set To File Chapter 11 Bankruptcy

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      Iconic arms manufacturer Remington Outdoor Company (operated for nearly two hundred years as the Remington Arms Company) is on the brink of filing a voluntary petition for Chapter 11 bankruptcy. Remington Outdoor is headquartered in Madison, NC. The company’s original intent was to begin solicitation for the plan on March 5, 2018, with the bankruptcy…

    • Bon-Ton Stores, Inc. – Demise Or New Lease On Life After Chapter 11 Bankruptcy Filing?

      Bon-Ton Stores, Inc. – Demise Or New Lease On Life After Chapter 11 Bankruptcy Filing?

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      Earlier this week, The Bon-Ton Stores, Inc. took its multi-chain brand of department stores into Chapter 11 bankruptcy. The action makes the regional chain of department stores the largest retailer to seek such protection this year. CNBC reported, in the immediate aftermath of the Chapter 11 filing,that the chain “…has been burdened with massive debt…

    • Gibson Guitar & Bankruptcy: Something To ‘Fret’ About?

      Gibson Guitar & Bankruptcy: Something To ‘Fret’ About?

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      Numerous reports circulating in the past several days point to ominous signs for the future of iconic guitar maker The Gibson Guitar Company(known since 2013 by its current corporate name, Gibson Brands, Inc.). Many of the recent reports center on the company’s bond and loan debt that carry significant payments that are imminently due in…

    • Home Owners’ Association Dues in Bankruptcy

      Home Owners’ Association Dues in Bankruptcy

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      Homeowners’ Associations are a fact in Florida, from the Deed-Restricted Communities to the Condominium Associations and Co-ops, many Floridians pay Monthly, Quarterly or Yearly Assessments to enjoy the benefits of architectural uniformity, common grounds maintenance and security. Adhering to community standards in turn helps maintain the appeal of the development, thereby increasing property values, and…

    • Tarpon Springs Florida

      Tarpon Springs Florida

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      General Information Tarpon Springs, Florida is a quaint nostalgic city with a population of approximately 25,000 people. It is located in Pinellas County on the Anclote River less than a mile from the Gulf of Mexico on the west coast of Florida. Its’ location is about 30 miles northwest of Tampa and just 20 minutes…

    • Chapter 9 Bankruptcy: Hartford, Detroit, et al

      Chapter 9 Bankruptcy: Hartford, Detroit, et al

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      The mayor of Hartford, Connecticut, Luke Bronin has been intimating for a number of months that the city may need to file Chapter 9 bankruptcy. Chapter 9 bankruptcy is a form of bankruptcy where a municipality can seek to reorganize its debts, and arrange such debts in a reduced payment over a period of years.…