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...
Chapter 11 Bankruptcy
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...
Hostess restructures company in midst of bankruptcy
In the beginning of 2012, Hostess Brands Inc. filed for Chapter 11 bankruptcy. The company needed assistance with its finances and sought the bankruptcy protection.Now, months after filing, the company is considering laying off thousands of workers in order to become...
AFA Foods, Inc. files for Chapter 11 bankruptcy
The meat production company, AFA Foods, Inc. has sought the protection of Chapter 11 bankruptcy. The filing took place on Monday at the U.S. Bankruptcy Court in Delaware.The decline of their revenue was directly linked to the “pink slime” uprising. This term was...
Reddy Ice files paperwork to apply for bankruptcy protection
Reddy Ice is the second ice-packaging company that has recently filed for bankruptcy. Arctic Glacier filed at the beginning of this year, and now Reddy Ice is following suit.There is talk that Reddy Ice has plans to purchase Arctic Glacier, thus strengthening both...
AMR Corp. files for bankruptcy
Last week, AMR Corp., owner of American Airlines, filed for Chapter 11 bankruptcy at the U.S. Bankruptcy Court for the Southern District of New York.AMR said that filing for bankruptcy is the best thing for the company and their customers at this time. American...
Lehman Brothers has plan to exit bankruptcy
This week, Lehman Brothers Holdings Inc. announced that their plan to exit bankruptcy has the approval of their creditors. Lehman’s creditors hold about $160 billion of the investment bank’s debt.The bank has 9 new settlements that they believe will provide...
Former state representative files for bankruptcy
Former Alabama State Representative James Gordon recently filed for bankruptcy protection for himself and his business, the Alabama Injury and Pain Clinic.The business filed for Chapter 11 bankruptcy in hopes of reorganizing and continuing operations. Gordon also...
Alabama Aircraft Industries submits reorganization plan
This week, Alabama Aircraft Industries Inc. submitted a reorganization plan that proposes selling the majority of their assets to Kaiser Group Holding out of Virginia for $500,000.Chief Executive of the military aircraft modification company operating out of...
Jefferson County has 80% chance of filing for bankruptcy
The Jefferson County commissioner has announced that the county has an 80 percent chance of filing for bankruptcy.The commissioner made this announcement after a day full of meetings with bankruptcy lawyers. She is now the first democrat that supports the plan for the...