Archive for the ‘National News’ Category

Bankruptcy: It Can Happen to Anyone; Including Celebrities

25 July 2012 by jacksonwhite  |  Filing for Bankruptcy, General Bankruptcy, Meeting of Creditors, National News, Privacy Issues  |  No Comments

The Real Housewives TV series on Bravo is leading to real life bankruptcy. There have now been a total of four housewives who have declared bankruptcy. The most recent housewife to file for bankruptcy is Danielle Staub who stands to lose assets valued between $500,000 and $1 million. It’s hard to imagine how people who are well off financially end up losing it all. The truth is bankruptcy can happen to anyone, even the rich and famous. People get caught up in the excitement of having money and forget how to manage it properly. Before thinking about filing for bankruptcy,…

Infamous Law Firm Dewey & Leboeuf LLP (Finally) Files for Bankruptcy

5 July 2012 by jacksonwhite  |  Bankruptcy Process, Chapter 11 Bankruptcy, Choosing an Attorney, Filing for Bankruptcy, General Bankruptcy, National News  |  No Comments

Dewey & Leboeuf, once one of the largest law firms in the world, operating in over a dozen countries including Abu Dhabi and Doha, filed for Chapter 11 protection in May. The firm was conceived in 2007 after a merger between Dewey Ballantine and Leboeuf, Lamb, Green & MacRae, and it seemed to be a promising business in its first few years. However, some say that the greed of former chairman, Steve Davis, ultimately destroyed the colossal firm. Davis was determined to attract the best attorneys from across the world, and he proved successful in the beginning, recruiting thousands of…

After a Long Struggle to Keep the Coyotes in Phoenix, the NHL May Finally Announce Agreement to Sell Tonight at Playoff Game

7 May 2012 by arizonabankruptcy  |  Bankruptcy Process, Chapter 11 Bankruptcy, Filing for Bankruptcy, General Bankruptcy, National News  |  No Comments

The Phoenix Coyotes moved from Winnipeg where the team played as the Winnipeg Jets. It is said that the team has built up several hundred millions of dollars in debt since the move. The NHL secretly took over control of the team on November 14, 2008 after firing CEO, Jeff Shumway. At the time, it was reported that the Coyotes had lost $73 million in the past three years, including $54 million in 2008 alone. On December 23, 2008, the team pledged all of their assets to SOF Investments LP, a New York Company, to cover a projected debt of $80 million.

Octomom Files for Bankruptcy

2 May 2012 by arizonabankruptcy  |  Bankruptcy Process, Chapter 7 Bankruptcy, Filing for Bankruptcy, Foreclosure Issues, General Bankruptcy, National News, Unemployment  |  No Comments

Nadya Suleman, known by many as the “Octomom,” filed for Chapter 7 bankruptcy in California on Monday. She admitted that she has accumulated over $1 million in debt, owing money to the city’s water department, Sylvan Learning Center, Whittier Christian School, and her father. A court-appointed trustee will liquidate her assets, estimated at $50,000, before she is discharged from the remainder of her debt. At the time of her filing, Suleman owed 20 times more than her total net worth.

Dodgers Sell for Over $2Billion in Bankruptcy Auction

30 March 2012 by arizonabankruptcy  |  Bankruptcy Process, Debt Collection Issues, General Bankruptcy, National News  |  No Comments

Baseball team owner, Frank McCourt must be having his best week in months. He was able to sell the Los Angeles Dodgers to a group of investors, including NBA Hall of Famer, Magic Johnson for $2.15 billion. Sources say that McCourt was originally hoping for at least $1.5 billion. He is likely glad that he passed on the previous bids offered since the Dodgers were first put on sale last November.

Twinkies and Wonder Bread File for Bankruptcy: What is to Blame?

17 January 2012 by jacksonwhite  |  Bankruptcy Process, Chapter 11 Bankruptcy, Debt Collection Issues, General Bankruptcy, National News  |  No Comments

The company responsible for Ho Hos, Twinkies, and Ding Dongs has announced that it has filed for bankruptcy protection. Hostess Brands has filed for Chapter 11 bankruptcy once before, in 2004 when it was under the name Interstate Bakeries Corp. The company recently came out from a financial restructuring process in 2009 with changes that the company now considers as “insufficient.”

Will Kodak File Bankruptcy?

10 January 2012 by jacksonwhite  |  Bankruptcy Process, Chapter 11 Bankruptcy, General Bankruptcy, National News  |  No Comments

Eastman Kodak Co., the notoriously innovative company that was credited with making the camera financially assessable to the greater public, is considering filing for Chapter 11 bankruptcy, according to the Wall Street Journal. How did a company that was once so successful end up in such a rut?

The Cost of Filing Bankruptcy is Increasing in Arizona: JacksonWhite Won’t Make You Pay the Price

24 October 2011 by jacksonwhite  |  Bankruptcy Process, Chapter 11 Bankruptcy, Chapter 12 Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, General Bankruptcy, National News  |  No Comments

While it may be general practice among other law firms to pass these increased costs along to the client, at JacksonWhite we have elected to absorb some of the miscellaneous costs associated with filing bankruptcy. We hope to keep the total money coming out of your pocket as minimal as possible.

CONSUMER BANKRUPTCY FILINGS DOWN 10 PERCENT THROUGH NINE MONTHS OF 2011

4 October 2011 by jacksonwhite  |  Bankruptcy Process, Chapter 13 Bankruptcy, General Bankruptcy, National News  |  No Comments

U.S. consumer bankruptcy filings totaled 1,044,722 nationwide during the first nine months of 2011 (Jan. 1-Sept. 30), a 10 percent decrease from the 1,165,172 total consumer filings during the same period a year ago, according to the American Bankruptcy Institute (ABI), relying on data from the National Bankruptcy Research Center (NBKRC). September consumer bankruptcies decreased 17 percent nationwide from
September 2010. The data showed that the overall consumer filings total for September reached 108,517 down from the 130,329 consumer filings recorded in September 2010.


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