Tag Archives: Chapter 11

Last year had its share of big name bankruptcies including Hostess, maker of Twinkies, and The Kodak Eastman camera and film company. “Octomom” Nadya Suleman filed for personal bankruptcy. Plus, don’t forget in 1991, 1992, 2004 and 2009, Donald Trump filed corporate bankruptcies. (AP Photo credits: Suleman/ Damian Dovarganes and Trump/ Evan Agostini/ Invision.) The infographic below provided by the Doan Law Firm shows statistics, reasons people file personal bankruptcy and the signs that often precede bankruptcies. Created by Doan …

The Great Recession has altered the consumer landscape, forcing such familiar retailers as Borders, Circuit City and The Sharper Image into bankruptcy. And anyone who’s tried to buy a Twinkie in the last few weeks knows that 2012 was another tough year on household names. Slowly but surely, though, things are looking up. Based on the latest available bankruptcy figures, 2012 was on pace to have the fewest new bankruptcies of any year since the crisis began in 2008, according …

When Hostess Brands Inc. announced it was going out of business, Twinkie lovers panicked, clearing out grocery shelves and forking over nearly $60 for a single box on eBay. But Hostess’ 18,500 workers faced bigger problems: a sluggish economy, high unemployment and a pension system that’s $55 million in the red. Pensions were at the center of contentious labor negotiations that broke down when the Bakery, Confectionary, Tobacco and Grain Millers Union (BCTGM) went on strike. After Hostess violated union …

In the midst of bankruptcy proceedings, American Airlines has asked a judge to allow it to stop paying retiree health insurance and life insurance benefits. Airline hopes to save over $1.3 billion annually in benefits for 40,000 retirees Fate of retiree benefits could depend on what is spelled out in the plan agreement Bankruptcy may or may not lead to merger with US Airways   Loss of Billions American, currently the nation’s third-largest airline, has been in bankruptcy proceedings since …

Former National Football League star running back Jamal Lewis, 32, has filed for bankruptcy protection in Georgia, saying that he can’t pay $10.6 million in debts. Lewis broke into the league with a splash in 2003, running for 295 yards in the Baltimore Ravens’ home opener in the stadium that had just been rechristened M&T Bank Stadium for the company that had bought the naming rights. Today, though, M&T Bank is one of the creditors listed in Lewis’ court documents …