Exide Technologies used to operate a lead-acid battery smelter in Los Angeles County. The factory has been closed, and the site has been abandoned. Families who live near the abandoned site have concerns for their safety, particularly in light of Exide Technologies’ bankruptcy plan. The bankruptcy plan would allow the company to abandon the site [...]
The COVID-19 pandemic and extended shutdowns across the state have caused many popular restaurant chains to file for bankruptcy in San Diego. Friendly's, an East Coast restaurant chain best known for its ice cream, filed for chapter 11 bankruptcy protection this week. The Western Massachusetts-based company that owns Friendly’s, has announced that an investor will [...]
Pacific Gas & Electric (PG&E) filed for Chapter 11 bankruptcy last year as a result of the California wildfires. The bankruptcy filing is the company’s attempt to restructure $30 billion in damages payments from the wildfires. State officials have blamed the massive wildfires on faulty PG&E power lines. This Chapter 11 bankruptcy is the biggest [...]
You feel like you are drowning in debt. The collection calls will not stop. You think that bankruptcy might be the best option for you, but you have one really big concern – what will happen to the co-signer on your loan? Questions like these are common, and having basic knowledge of bankruptcy before filing [...]
It is said that the term “bankruptcy” is based on the Italian words banka rupta, which mean ‘broken bench.’ When a merchant was unable to pay off his debt during the 1700s, creditors would go over to the merchant debtor’s bench and break it. Eventually, the term came to mean a scenario in which a [...]
A mountain with picturesque views of the ocean and Los Angeles was recently listed for sale for $1 billion. However, it recently sold at a foreclosure auction for a mere $100,000. The property’s complicated history and $200 million lien made it a difficult sell, but the original owners, to whom the lien was owed, have [...]
American Medical Costs and Bankruptcy More than 60% of American filing for bankruptcy do so as a result of the financial impacts of health issues. This includes both the astronomical costs of healthcare, even with insurance, and the time off work caused by some health issues. In fact, residents of the United States can expect [...]
Bankruptcy Requires Full Disclosure Bankruptcy under the federal Bankruptcy Code can be a welcome relief to those suffering from financial pressure that seems to have no relief. There are strong protections available to those seeking protection from bankruptcy requires full disclosure. For example, once a debtor chooses to file for bankruptcy : Debt collectors must [...]
Judge Denies Dismissal Of Student Loans In a recent bankruptcy case out of the Central District of California, a federal bankruptcy judge denied a petitioner’s request to eliminate his student loans in bankruptcy. This case was not a difficult one for the judge to decide, and it bucks the trend of recent reports that federal [...]
Is Sears Getting Ready To Shut Down Kmart? For years and years now, Sears has been taking a real beating financially, to the point where financial industry experts the world over are very, very down on their future prospects. And even though Sears executives continue to paint a pretty picture, promising a rebound and a [...]
