On November 5, the American Suzuki Motor Corporation chose to file for Chapter 11 bankruptcy protection. The decision to file for bankruptcy means that Suzuki motor vehicles will no longer be sold in the United States. Sales of ATVs and motorcycles will still continue...
Bankruptcy Filing
FDIC Regulators Close Nova Financial Bank Unit
Regulators with the Federal Deposit Insurance Corp. closed a Nova Bank unit on Oct. 26 and as a result of this closure, Nova Financial Holdings Inc. decided to file for Chapter 7 bankruptcy.Nova announced on Oct. 30 that their board decided that liquidating their...
Unemployment and Chapter 7 Bankruptcy
Choosing to file for bankruptcy can be a difficult decision, and there are several factors that should be considered before making this decision. One of these factors regards unemployment and the affect it has on the bankruptcy process.There is a repayment plan...
2012 sees significant decline in bankruptcy filings
The most recent statistics from United States Bankruptcy Courts indicate that overall non-business bankruptcy filings are on the decline for the year 2012 when compared to the same period from the year before.In the fiscal year ending on September 30, both Chapter 7...
Birmingham produce company to pay creditors in bankruptcy ruling
A judge has issued a ruling in Birmingham-based Adams Produce’s Chapter 11 bankruptcy filing. Monday’s ruling states that Adams must pay its creditors a total exceeding $8 million.Adams Produce filed for bankruptcy in April of this year, prompting many of the...
San Bernardino becomes third California city to file for bankruptcy
In the past two months, three separate cities in the state of California have decided to file for bankruptcy protection. The latest filing decision comes from the City Council in San Bernardino.According to reports from this city of approximately 210,000 individuals,...
Michael Vick paying off creditors with NFL earnings
Michael Vick, a quarterback in the NFL, filed for bankruptcy protection in 2008, and has recently started paying off his numerous creditors the approximate $20 million that they are owed.Vick spent two years in prison for the part he played in a dog fighting ring....
Former MLB player files for Chapter 7 bankruptcy protection
Jose Canseco, a former MLB player for multiple teams including the Oakland Athletics, has filed for Chapter 7 bankruptcy protection.Canseco, who currently plays for the Worcester Tornadoes, an independent league team, earned two World Series rings during his time in...
Bankruptcy protection sought by Stockton, CA
Residents of Stockton, California are saddened by the news that the city will be filing for bankruptcy protection.This filing will mark Stockton as the largest city in the nation to file for bankruptcy under the U.S. bankruptcy code.Stockton is home to approximately...
Chapter 7 bankruptcy filed by 38 Studios LLC
The video-game company that is owned by the retired Boston Red Sox Pitcher, Curt Schillings, has filed for Chapter 7 bankruptcy protection in a Delaware bankruptcy court.Schillings formed the company after his years playing professional baseball came to an end. The...