Tag: Chapter 11 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…
The Weinstein Company Files For Chapter 11 Bankruptcy After 5-Month Delay
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****** MARCH 20218 UPDATE ****** BREAKING NEWS THE WEINSTEIN COMPANY FILES FOR CHAPTER 11 BANKRUPTCY AFTER 5-MONTH DELAY The Weinstein Company – founded by embattled movie mogul Harvey Weinstein and his brother Bob Weinstein in 2005 – has officially filed for Chapter 11 bankruptcy in a Delaware bankruptcy court. Media reports indicate that the filing…
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
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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
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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?
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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?
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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…
BANKRUPTCY, LAYOFFS AND LIKELY SALE – THE “FATE” OF A PULITZER PRIZE-WINNING NEWSPAPER
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One of West Virginia’s oldest newspapers, the Charleston Gazette-Mail announced on Monday, January 29, 2018, that a Chapter 11 Bankruptcy filing “is imminent”. The actual filing of bankruptcy pleadings has not been confirmed. Informed sources say the plan was to file the requisite Chapter 11 bankruptcy paperwork on Tuesday, January, 30th.If a Chapter 11 filing…
Toys R Us, The Retail Apocalypse And Mitt Romney’s Bain Capital
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2017 has been a particularly bad year for many of the nation’s retailers. On September 19, Toys R Us announced its filing of Chapter 11 Bankruptcy. Chapter 11 Bankruptcy is a form of bankruptcy wherein a corporation (or an individual whose debt exceeds certain monetary thresholds) seeks the reorganization of its debt through the mechanism…
COPYRIGHTS IN BANKRUPTCY
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Under bankruptcy law, copyrights and patents are considered assets. An author of a book who has copyrighted such book or a songwriter who has copyrighted his or her song or songs are considered under bankruptcy law, to possess an asset. Depending upon the value of such an asset, a debtor may find such asset sold…
BANKRUPTCY CHAPTER 11
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From Clearwater, Florida comes a question from John J. What is Chapter 11 Bankruptcy? I have a small business, wish to retain my business, and either discharge or reorganize my personal and business debts. Should I file a Chapter 11 Bankruptcy in order to accomplish these goals? There are numerous Chapters available under the Bankruptcy…