chapter 11

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Personal bankruptcy filings have been climbing steadily since 2007 when the U.S. tumbled into a deep recession. With unemployment near 10%, bankruptcy filings are on the rise.

For the fiscal year ending Sept. 30, more that 1.5 million non-business bankruptcy filings were processed, according to data released by the Administrative Office of the U.S. Courts and reported in CNNMoney. That’s a 14% increase from 2009.

Continue reading Bankruptcy Filings Surge 14% in 2010

Bankruptcy Filings Surge 14% in 2010 originally appeared on BloggingStocks on Tue, 09 Nov 2010 10:00:00 EST. Please see our terms for use of feeds.

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blockbuster bankruptcyEarly Thursday morning, Blockbuster (BLOKA) announced that it filed for voluntary Chapter 11 bankruptcy petitions. The move comes after an agreement with bondholders to recapitalize the movie and game rental chain.

According to the company, the filing in the U.S. Bankruptcy Court of the Southern District of New York applies to the company and its domestic subsidiaries, but not to the non-U.S. operations or the group’s franchisees. Reportedly, the group has agreed on a deal with bondholders to swap secured notes for equity in a reorganized Blockbuster.

Continue reading Blockbuster Files for Chapter 11 Bankruptcy Protection

Blockbuster Files for Chapter 11 Bankruptcy Protection originally appeared on BloggingStocks on Thu, 23 Sep 2010 08:30:00 EST. Please see our terms for use of feeds.

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BlockbusterNetflixUnited StatesChapter 11 Title 11 United States CodeUnited States District Court for the Southern District of New York

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A day before it was set to go under the gavel, the sale of Sex.com stalled. The domain name was set to be auction, but an involuntary Chapter 11 filing by three of the company’s creditors has put the brakes on the bidding. Escom LLC, which owns Sex.com, his on the hook, it seems, for an eight-figure tab.

The creditors’ petition, filed in U.S. Bankruptcy Court shortly after noon yesterday by Washington Technology Associates, iEntertainment, Inc. and AccountingMatters.com LLC, claims that Sex.com owes them $10,092,118.68, according to a report by adult entertainment industry trade publication AVN (NSFW).

Continue reading Sex.com Sale Stalled by Involuntary Bankruptcy Filing

Sex.com Sale Stalled by Involuntary Bankruptcy Filing originally appeared on BloggingStocks on Fri, 19 Mar 2010 15:00:00 EST. Please see our terms for use of feeds.

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