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Content Tagged As bankruptcy

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  • Movement in the RadioShack bankruptcy

    August 26, 2015 9:11 PM

    WILMINGTON, NORTH CAROLINA- RadioShack says it reached a tentative settlement in treatment over gift cards in the company's bankruptcy case. Holders of roughly a third of the $46 million in outstanding gift cards would receive priority status and be paid in full. Other gift card holders would be paid... more »
  • 50 Cent's bankruptcy papers show 7 cars, businesses in red

    August 4, 2015 12:11 PM

    HARTFORD, CT - Rapper 50 Cent says in a Connecticut bankruptcy filing that he owns seven cars valued at more than $500,000, including a 2010 Rolls Royce and a 1966 Chevrolet Coupe. His Farmington property is his most valuable property. It's listed in papers filed Monday at nearly $8.3 million.... more »
  • LSU exploring bankruptcy options, not there yet

    April 24, 2015 11:27 AM

    BATON ROUGE - An LSU spokesperson said Friday that LSU has taken several steps to prepare for the possible budget fallout from the legislative session, but they've not actually taken the step of filing for academic bankruptcy yet. LSU released a statement from LSU Board Chair Ann Duplessis to... more »
  • RadioShack files for Ch. 11 bankruptcy protection

    February 5, 2015 4:31 PM

    NEW YORK - Struggling electronics retailer RadioShack has filed for Chapter 11 bankruptcy protection and says it will sell up to 2,400 stores. The Fort Worth, Texas company has suffered from years of losses. RadioShack Corp. introduced the first mass-market personal computer and used to be the go-to stop for... more »
  • SkyMall files for bankruptcy

    January 23, 2015 4:09 PM

    NEW YORK - Apparently, airline passengers aren't buying enough garden gnomes, superhero pajamas and heated cat shelters. SkyMall has filed for bankruptcy. The quirky in-flight shopping catalog has been a mainstay on airlines for more than three decades. Passengers with nowhere to go would pull it from the seatback and... more »
  • Detroit's elected officials regain control of city

    September 26, 2014 2:12 AM

    DETROIT, MI - The day-to-day operations of Detroit's city government are back in the hands of its elected mayor and City Council. State-appointed emergency manager Kevyn Orr said Thursday that "the city is more than ready" before signing Order 42. The measure puts the nine-member council and Mayor Mike Duggan... more »
  • Kodak out of bankruptcy

    September 3, 2013 7:40 PM

    ROCHESTER, NEW YORK- An icon of American business is out of bankruptcy and Kodak now says its a new commercial imaging company serving business markets like packaging and graphics. The chairman and CEO says Kodak is on track for profitable growth. Kodak says its old stock is canceled as of... more »
  • Hostess sale of Wonder bread nears completion

    February 27, 2013 11:02 AM

    NEW YORK- Wonder bread is one step closer to getting a new owner. A person familiar with the situation who requested anonymity because the auction process is private says there will be no competing offers Thursday to a bid by Flowers Foods to buy several bread brands from Hostess. The... more »
  • Hawker Beechcraft says its closer to getting out of bankruptcy

    January 25, 2013 7:47 PM

    A company Louisiana tried to lure to Baton Rouge says its proposed bankruptcy reorganization plan is backed by key creditors. Aircraft manufacturer Hawker Beechcraft says that moves the company closer to exiting bankruptcy and It goes to court next week to seek approval to emerge from Chapter 11 next month.... more »
  • Hostess to seek approval for executive bonuses

    November 29, 2012 7:55 AM

    NEW YORK - Hostess Brands Inc. plans to ask for a judge's approval Thursday to give its top executives bonuses totaling up to $1.8 million as part of its wind-down plans. The maker of Twinkies, Ding Dongs and Ho Hos says the incentive pay is needed to retain the... more »
  • Arkansas' Smith faces creditors in bankruptcy case

    October 12, 2012 3:29 PM

    FAYETTEVILLE, Ark. - An attorney for Arkansas coach John L. Smith says a computer error in his bankruptcy case is behind what appeared to be a huge jump in his debt. Smith's initial Chapter 7 filing in September listed $25.7 million in debt. He later amended that to $40.7 million,... more »
  • Arkansas' Smith restructures payment schedule

    October 9, 2012 10:34 AM

    FAYETTEVILLE, Ark. - Arkansas coach John L. Smith appears to have structured the bulk of his $850,000 salary to be paid after the likely end of his bankruptcy proceedings. Smith, who was hired to a 10-month contract in April, filed for Chapter 7 bankruptcy in early September. An amended... more »
  • Arkansas coach Smith bankruptcy shows $25.7M debt

    September 20, 2012 10:43 AM

    FAYETTEVILLE, Ark. - New documents filed in Arkansas coach John L. Smith's bankruptcy show he has debts of more than $25 million and assets of just over $1.2 million. Smith filed for Chapter 7 bankruptcy earlier this month after real estate investments he made in Kentucky went sour. The documents... more »
  • Piccadilly restaurant files for bankruptcy Play Video

    September 12, 2012 6:07 PM

    BATON ROUGE- Baton Rouge-based Piccadilly Cafeterias filed for Chapter 11 bankruptcy protection. The chain says it made the move after one of its lenders, Atalaya, sued to force the company into receiver-ship. CEO Thomas Sandeman says, " Their action should it have been gone through was to have... more »
  • Piccadilly files for bankruptcy protection

    September 12, 2012 11:01 AM

    BATON ROUGE - The Baton Rouge-based restaurant chain Piccadilly's filed for Chapter 11 bankruptcy protection this week. According to The Advocate, Piccadilly Restaurants LLC said the filing was to head off "an aggressive legal maneuver" by its lender, Atalaya Capital Management. Piccadilly filed for protection in U. S.... more »
  • Arkansas' Smith facing bankruptcy

    July 4, 2012 9:34 AM

    FAYETTEVILLE - Arkansas coach John L. Smith says he is making plans to declare bankruptcy as a result of several land developments gone bust in Kentucky. Smith was hired by the Razorbacks in April to replace Bobby Petrino, who was fired after revelations that he had hired his mistress in... more »
  • Kodak online photo service to Shutterfly

    May 7, 2012 7:15 PM

    Kodak is closing its online-photo service in July and Shutterfly will take over after a federal bankruptcy judge approved a $23.8 million sale. Shutterfly was the only bidder for Kodak Gallery Business as Kodak sells assets to generate cash and narrow is business focus. Kodak Gallery emailed users on Monday... more »
  • Kodak files for bankruptcy protection

    January 19, 2012 6:44 AM

    ROCHESTER, N.Y. (AP) - Photography icon Eastman Kodak has filed for Chapter 11 bankruptcy protection, as it seeks to boost its cash position and stay in business. The move comes as the ailing company has failed to find a buyer for its trove of 1,100 digital imaging patents. Kodak... more »
  • Solar Company Bankrupt

    August 31, 2011 7:30 PM

    A solar-panel manufacturing company that got a half-billion dollar loan from the federal government announced layoffs of 1,100 workers and its intent to file for bankruptcy. Solyndra LLC of Fremont, California says world-wide economic conditions forced it to suspend business. President Obama toured the company facility last year to highlight... more »
  • New fire station on standby because of bankruptcy

    July 22, 2011 10:04 PM

    BATON ROUGE- Efforts to replace a rundown fire station with a new one have gone belly up. The Department of Public Works says contractor Quadrants, Inc., that was building the new Choctaw Fire Station, went bankrupt, so now, construction is on hold. The project started more than a... more »
  • Abandoned subdivision a burden on neighbors, DPW

    July 21, 2011 10:30 PM

    BATON ROUGE- A belly-up development is over-grown and is now a dump-site in Baton Rouge. Street lights are in place, sidewalks line the fronts of intended properties and even utilities are ready for hook up, but high grass and weeds have moved into the Magnolia Trace subdivision off... more »
  • Chrysler Hopes to Refinance and Pay Gov't Debt

    January 10, 2011 7:17 PM

    The CEO of Chrysler says the company will try to refinance its government loans this year as it prepares for an initial public stock offering in hopes of paying off its debt. Sergio Marchionne says Chrysler can post a net profit for the first time since emerging from bankruptcy... more »
  • State may take over school budgeting in St. Helena Parish

    September 28, 2010 6:11 PM

    The State Department of Education may take away the St. Helena School Board's say in how its money is spent on schools. That comes after parish officials testified they may go bankrupt before the end of 2012 in federal court Monday. A fiscal administrator may be appointed, according to... more »
  • Senate panel wrapping up impeachment hearings on La. judge

    September 21, 2010 1:32 PM

    Attorneys for Judge G. Thomas Porteous are wrapping up their defense before a Senate impeachment panel hearing a case that could make him just the eighth federal judge to be removed from the bench. Porteous' attorneys are calling the last of some two dozen witnesses who have testified over... more »
  • LA State Treasurer worried about BP's bankruptcy possibility

    June 11, 2010 10:34 AM

    Louisiana State Treasurer John Kennedy says he is worried that BP may use a Chapter 11 bankruptcy filing to avoid paying the U.S. government, the state of Louisiana and businesses damaged by the oil spill. In a letter to Governor Jindal, Kennedy wrote: "I believe it is imperative that... more »
  • Florida company buys St. Francisville mill

    April 10, 2010 11:11 AM

    A Florida company has agreed to pay $9.9 million to take over the closed Renew Paper mill near St. Francisville. U.S. Bankruptcy Judge Douglas Dodd, who ordered a court-supervised auction, said he would enter a sale order Monday. The Advocate of Baton Rouge says that clears the way for... more »
  • Louisiana Speedway seized

    February 22, 2010 3:48 PM

    The only NASCAR-sanctioned race track in Louisiana was seized by the Ouachita Parish Sheriff's Office and is scheduled for auction. The Monroe Motor Speedway plans to file Chapter 11 reorgnaization next month in bankruptcy court. That's according to its website. The track was set to open for its second... more »
  • Paper mill plant files for bankruptcy

    January 22, 2010 4:55 PM

    A paper mill plant in West Feliciana Parish filed for bankruptcy protection to avoid paying a former contractor millions of dollars. Renew Paper Mill, operated by West Feliciana Acquisition LLC, claims a former contractor is overcharging it for work done to renovate the mill site. The plant closed... more »
  • Bankruptcy filings shoot up in La.

    January 18, 2010 11:24 AM

    Sharply higher numbers of people and businesses in Louisiana sought refuge from debt in federal bankruptcy court, crippled by the housing collapse, credit cards and sharply lower retail sales. The Administrative Office of United States Courts reported there were 18,268 bankruptcy filings in the state from Oct. 1, 2008... more »
  • Move to dismiss Jefferson bankruptcy denied

    October 27, 2009 2:09 PM

    A move to dismiss the federal bankruptcy case filed by former Louisiana Congressman William Jefferson and his wife has been denied. In filing for liquidation, Jefferson and his wife Andrea listed a monthly income of nearly $31,000. But, a bankruptcy court ruled the Jeffersons' income is likely to fall... more »
  • William Jefferson Declares Bankruptcy

    August 31, 2009 11:32 AM

    A former Louisiana congressman who was convicted of federal corruption charges this month has filed for Chapter 7 bankruptcy liquidation. The bankruptcy petition filed last week by former Rep. William Jefferson and his wife, Andrea, says they owe between $1 million and $10 million to fewer than 50 creditors. The... more »
  • Vick Bankruptcy Plan Approved

    August 27, 2009 11:30 AM

    A judge in Virginia has approved a plan for Michael Vick to repay $20 million to his creditors and emerge from bankruptcy. U.S. Bankruptcy Judge Frank Santoro approved the plan on the condition that Vick retain a personal financial planner to manage his future earning with the Philadelphia Eagles. After... more »

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