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Bankruptcy Proceedings

Mountain Creek files for Chapter 11 bankruptcy; plan would allow debt restructuring

VERNON — Less than two years after acquiring Mountain Creek, the resorts new ownership has filed for Chapter 11 bankruptcy reorganization. The filing, which had been rumored to be in the works for some time, was submitted in federal court Monday morning and seeks a restructuring of the resorts debt including an estimated $26 million […]

 

Puerto Ricans Gather at Diaspora Summit as Island Begins Bankruptcy Process

 

Valamar and PBZ Croatia Osiguranje to Rescue Helios Faros?

The PBZ Croatia Osiguranje pension management fund and Valamar Riviera submitted a joint bid for investment and recapitalisation of the Helios Faros from Stari Grad on the island of Hvar yesterday, reports Poslovni.hr on May 16, 2017. Helios Faros has been the main player in the tourism industry in Stari Grad for decades, but has […]

 

ASIC files bankruptcy proceedings against property spruiker McIntyre

Australias financial watchdog has filed bankruptcy proceedings against notorious property spruiker Jamie McIntyre and his brother Dennis. The move to bankrupt the McIntyres in the Federal Court of Australia follows multiple investigations by the Australian Securities and Investment Commission into various land banking and property schemes promoted by the pair. SHARE Share on Facebook SHARE […]

 

Alitalia to Start Bankruptcy Process

Alitalia is set to start bankruptcy proceedings after workers voted against job cuts aimed at salvaging the airline. Bloombergs Tracy Alloway reports on Bloomberg Daybreak: Europe. (Source: Bloomberg)

 

Stone Energy Considering Options After Bankruptcy

Stone Energy Corp. said this week that it has hired a financial adviser to help the board of directors decide in what direction the company should go after emerging from bankruptcy earlier this year. The board is assessing its alternatives and said all potential avenues are being explored. Those options include acquiring more assets, accessing […]

 

DNR Files Document Repeating Objection to Mesabi Metallics Keeping Mineral Leases

The agency wants the judge to release the leases out of the bankruptcy proceedings. Several companies have indicated interest in taking over the project, including Cliffs Natural Resources and Chippewa. SPL Investments is sponsoring Mesabi Metallics through the bankruptcy proceedings. Mesabi Metallics filed its reorganization plan with the court in January. A key hearing in […]

 

Advisor’s bankruptcy puts Richmond widow’s lawsuit on hold

An embattled Charlottesville businessman and financial advisor has filed personal bankruptcy, putting at least a temporary halt on a $6 million lawsuit filed against him by the widow of a Richmond investment banker. Victor M. Dandridge III, who’s being sued by Richmonder Lynne Kinder for allegedly pillaging her family’s nest egg, filed for Chapter 7 […]

 

Bankruptcy Court Imposes Massively Disproportionate $45 Million Punitive Exaction, Then Plays Santa Claus With $40 …

A bankruptcy judge in the Eastern District of California recently issued a decision that is sure to raise appellate eyebrows. Concluding in In re Sundquist that the defendant bank had violated the automatic stay by foreclosing on the home of a bankrupt mortgagor and enraged by what it perceived to be heavy-handed behavior both before […]

 

NextEra not Giving up on Oncor Deal

By Rich Heidorn Jr. Attorneys for NextEra Energy and Energy Future Holdings told a bankruptcy court hearing Monday that they are not giving up on NextEra’s bid to acquire Oncor despite Texas regulators’ rejection of the deal. NextEra is “exploring every alternative and action to try to resuscitate the deal,” NextEra lawyer Howard Seife said […]

 

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