Tagbankruptcy

A $11.6 billion downside: As COVID-19 drains budgets, U.S. cities might face chapter

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U.S. cities are quick operating out of money.The pandemic will cut back native authorities revenues by an estimated US$11.6 billion in 2020. With COVID-19 requiring residents to remain dwelling and shops to shutter, the majority of this discount comes from a droop in native gross sales taxes. Declines will proceed into 2021.State revenues are heading in the identical route, so many U.S. cities...

Zambri Zaps Harrah’s Casino For $850,449.60 In Fraudulent Transfers Ordered Repaid To Bankruptcy Trustee

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Harrah’s Atlantic City STRF/STAR MAX/IPx James F. Zambri was the principal of JVJ Pharmacy Inc., which was doing enterprise as University Chemists. The JVJ Pharmacy had an working account at Chase Bank in New York, and Zambri held a debit card by which he may entry money from that account. Zambri in the end used the Chase Bank debit card to withdraw $859,040 of JVJ Pharmacy’s funds at...

Huntsville protected as Remington information chapter once more

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One of Huntsville’s prime financial recruited firms has filed for chapter for the second time in three years, leaving space governments scrambling to recoup their investments.Remington Arms, a gun producer who opened a plant in Huntsville in 2014, filed for Chapter 11 safety on Monday in federal chapter courtroom within the Northern Alabama district in what seems to be the demise of the legendary...

Chapter 11 Bankruptcy Statistics On U.S. Shale Patch Are Not The Best Barometer To Gauge Industry’s Future

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A pumpjack operates close to a drill rig standing over an oil properly within the Permian Basin, Midland, Texas, … [+] U.S. (Photo: Daniel Acker) © 2018 Bloomberg Finance LP The oil and gasoline trade’s most up-to-date cyclical downturn, triggered by the Covid-19 international pandemic in March, has but once more invited shut scrutiny of the U.S. shale trade. At one level, previous to...

Creditor loses bid in chapter case

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A chapter choose has denied a creditor’s transfer to dam the discharge of the chapter of Bill Schwyhart, former high-profile actual property developer in Northwest Arkansas, and his spouse Carolyn, saying CHP LLC did not show the couple tried to defraud their collectors. Judge Harlin Hale of the U.S. Bankruptcy Court for the Northern District of Texas in a written discovering of reality...

Carriers owed hundreds after lumber processor recordsdata for chapter – FreightWaves

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Several trucking corporations and freight brokerages are owed hundreds of {dollars} after a Kentucky-based lumber processor filed for Chapter 11 chapter safety Monday. Northland Corp., headquartered in La Grange, Kentucky, filed its petition within the U.S. Bankruptcy Court for the Western District of Kentucky. In its submitting, Northland lists each its belongings and liabilities as between $1...

Council Post: The Ins And Outs Of The New Small Business Bankruptcy Option

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NYC chapter legal professional on the Law Office of William Waldner whose sole focus is within the areas of chapter 7 and chapter 13 chapter instances. getty You may need missed it amid all of the goings-on since then, however in August 2019, a brand new regulation was handed that provides small companies (and people/married {couples}) a brand new and simplified technique to undergo chapter while...

Remington, America’s oldest gunmaker, recordsdata for chapter as firearms gross sales soar – The Boston Globe

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WASHINGTON — Remington Arms, the nation’s oldest gunmaker, declared chapter late Monday for the second time in as a few years at a time when US firearms gross sales are hovering.Founded in 1816, the privately held maker of rifles, pistols, and shotguns listed belongings of $100 million to $500 million, in accordance with its submitting in US Bankruptcy Court within the Northern District of...

Novato funding companies file for chapter amid probe

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Two Novato actual property funding firms underneath federal investigation for suspected monetary misconduct have filed for chapter. Professional Financial Investors Inc. and its major fund, Professional Investors Security Fund Inc., sought Chapter 11 safety within the U.S. District Court of Northern California on Sunday. In a declaration to the court docket, Michael Hogan — a company...

Bankruptcy Exit Prep Continues with Appointment of New Windstream Board Members

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Preparations proceed for a Windstream chapter exit, with the service anticipated to place its restructuring behind it in late August. The firm introduced a slate of recent Windstream board members who will assist lead the corporate post-bankruptcy. The U.S Bankruptcy Court for the Southern District of New York accepted a Windstream restructuring plan in late June. The plan requires Windstream to...