Strauss Auto has recently been nicknamed a “Chapter 55” company because it has now filed for Chapter 11 bankruptcy five times.The first time Strauss Discount Auto stores filed for bankruptcy was in 1979. Since that day, the company has filed for bankruptcy four more...
Bankruptcy Filing
Bankruptcy filed by Dewey & LeBoeuf
Dewey & LeBoeuf was formed in 2007 when a merger between two prominent law firms took place. This law firm had 26 offices all over the world, and roughly 2,500 employees.Last week, the law firm filed the necessary documents in order to apply for Chapter 11...
Houghton Mifflin Harcourt files for bankruptcy protection
The large publishing firm Houghton Mifflin Harcourt has decided to file for Chapter 11 bankruptcy. The paperwork was turned in on Monday at a New York bankruptcy court.The company’s debts were recorded at $3.1 billion, and it also listed numerous creditors in its...
T-Boz’s bankruptcy dismissed, creditors may claim singer’s assets
This month, Judge James R. Sacca of the U.S. Bankruptcy Court in Atlanta, Georgia dismissed TLC singer T-Boz’s third bankruptcy filing. The singer filed for Chapter 13 bankruptcy in October, listing more than $700,000 in debt.Girl group TLC filed for Chapter 11...
Foreclosure activity continues to fall in 2012
Foreclosure activity has continued to decrease on a year-over-year basis in Alabama in 2012. According to a RealtyTrac report, January’s foreclosure activity was lower than it was a year before.Last month, 1,489 foreclosure filings were filed throughout the state....
Actor Gary Busey files for Chapter 7 bankruptcy
Yesterday, actor Gary Busey filed for Chapter 7 bankruptcy in California. The 67-year old starred in movies for 45 years before appearing on reality television shows like “Celebrity Rehab,” “Celebrity Apprentice,” and “Celebrity Wife Swap.”According to Busey’s...
Mortgage delinquencies and foreclosures decrease in Birmingham
According to foreclosure research company CoreLogic, foreclosures and mortgage delinquencies decreased in Birmingham in November.In November, the foreclosure rate on outstanding mortgage loans in the metro Birmingham area was 1.58 percent. The foreclosure rate...
Personal bankruptcies decrease in 2011
Last week, the National Bankruptcy Research Center announced that personal bankruptcies decreased by 12 percent in 2011. A total of 1.35 million people in the U.S. filed for Chapter 7 or Chapter 13 bankruptcy last year.In 2010, about 1.5 million people filed for...
Jefferson County files for bankruptcy
Last week, Jefferson County commissioners voted 4-1 to file for bankruptcy. The bankruptcy filing is reportedly the largest bankruptcy petition filed by a municipality in the history of the U.S.The filing was made on Thursday. A federal judge in Birmingham...
Personal bankruptcies continue to fall in October
In October, personal bankruptcies decreased for the fourth consecutive month. Experts suspect the decline in consumer bankruptcy filings is related to a decrease in the use of credit.Executive director of the ABI Samuel Gerdano stated, “The declining filings...