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Full-service storage company Closetbox Inc. has filed for Chapter 7 bankruptcy. According to documents filed Friday with the U.S. Bankruptcy Court for the District of Colorado, the company has liabilities of $650,546 and assets of $32.…

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A New Jersey bankruptcy court judge has ruled in favor of Johnson & Johnson — and against thousands of victims of corporate wrongdoing — in allowing the company to proceed with its "Texas Two-Step" plans. Judge Michael Kaplan ruled on…

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Johnson & Johnson is trying the "Texas two-step" legal approach to offload asbestos and talc cancer liabilities to a bankrupt subsidiary. Cancer patients are battling the action in New Jersey bankruptcy court, hoping to hold Johnson…

Owning a restaurant is like being the captain of a ship. You have to worry not only about the state of the ship itself, but also about the seas. Over the past two years, the COVID-19 pandemic has been responsible for the most…

Pensacola, Florida – Although many debtors benefited from a pause in federal student loan payments during the pandemic, some people who have private student loans continued to struggle with payments throughout the pandemic. Pensacola…

Filing for bankruptcy is never ideal, but there are situations where debt cancellation is the only way forward. This is true for medical debt, credit card bills, and even student loans, although which type of bankruptcy you should pursue…

If you've ever had to file for bankruptcy in the past for any reason, you've probably thought to yourself that hopefully you'll never have to do so again. But sometimes you never know where life is taking you and if you ever find…

BRIDGEPORT — The former president of a Milford strip club told a judge that an $87,000 check he cashed from a notorious mobster months before declaring bankruptcy was a “red herring which does not require further investigation.But the judge…

What is Bankruptcy?Bankruptcy is a legal procedure by which a person or a company, called the debtor, can ask the courts to be exonerated from debts that they are unable to pay. The purpose of bankruptcy is to allow the debtor a fresh…

If you or someone you know is in financial deep waters and struggling to cope, just remember that the longer you ignore your debts, the worse it will get. Whether the situation is due to injury or illness (family or personal), work issues…

The federal bankruptcy code requires anyone seeking to file for bankruptcy to attend credit counseling within 180 days of filing. Debt.org describes bankruptcy as "a legal proceeding in which a judge and a trustee…

Jan 26 (Reuters) - Grupo Aeromexico SAB de CV (AEROMEX.MX) is nearing the finish line of its restructuring with a proposed plan to reduce debt by more than $1 billion, but must first overcome the opposition from junior creditors who say…

After a bankruptcy filing, the task of repairing your credit begins. But how soon can you apply for new credit? It depends on the type of bankruptcy you filed, as your bankruptcy must first be discharged. It can take as little as six…

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The automatic stay is a procedural tool in a bankruptcy case that effectively stops creditors' efforts to collect a debtor's unpaid obligations. As discussed in more detail in our previous article, immediately after a…

Sivasankaran, who was the founder of Aircel before selling it to Malaysia's Maxis Communications, is no stranger to controversy.SynopsisThe creditors, which include State Bank of India and Maxis Communications Bhd of Malaysia, the former…

Cartoon John Oliver, FriendsScreenshot: Last week tonightListen, nobody says that Last week tonight host and occasional wise-cracking bird sidekick John Oliver looks like a cartoon. Except John Oliver, who noted during his Sunday lead!-->!-->…

The Hertz Corporation has to look at AMC Entertainment and wonder what could have been. Hertz, battered in the early weeks of the pandemic, filed for Chapter 11 bankruptcy in May last year. However, in the weeks that followed, its…

Handmade signs litter the ground after an anti-eviction protest outside an apartment complex in Mount Rainier, Maryland, August 10, 2020.Leah Millis | ReutersEven with the latest coronavirus relief bill, economic tensions related to the…