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Latest Insolvency Stories

2014-06-21 00:20:56

- Certain Locations to be Transitioned to Practice Physicians LAS VEGAS, June 20, 2014 /PRNewswire/ -- MacKeyser Holdings, LLC, announced today that the Company and certain of its subsidiaries have filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in order to facilitate the wind down and ultimate liquidation of the Company. The filing will allow the Company to wind down its businesses in an orderly and expeditious fashion for the benefit of its stakeholders....

2014-06-12 16:22:29

Company Continues to Move Forward with "Pre-Arranged" Chapter 11 Reorganization That will Materially Deleverage Its Balance Sheet and Position the Company for Long-Term Growth and Profitability. HOUSTON, June 12, 2014 /PRNewswire/ -- GSE Environmental, Inc., ("GSE" or the "Company") (OTCQB: GSEH) announced today that the US Bankruptcy Court for the District of Delaware has approved its Disclosure Statement filed in connection with the Company's proposed Joint Plan of Reorganization...

2014-05-29 08:20:33

MONTREAL, May 29, 2014 /CNW Telbec/ - ACE Aviation Holdings Inc. (ACE) announced today its results for the first quarter of 2014, and provided an update with respect to its liquidation process. 2014 First Quarter Results In the first quarter of 2014, ACE recorded an increase in net assets in liquidation of $0.2 million due to interest income earned during the quarter offset by administrative and other expenses. As at May 29, 2014, ACE's only remaining assets consist of cash and...

2014-05-13 04:21:18

XI'AN, China, May 13, 2014 /PRNewswire/ -- In an unprecedented ruling in the U.S.-listed Chinese stocks (RTOs) sector, Judge Bridget Robb Peck of the Second District Court of Nevada at a hearing on April 16, 2014 ruled in favor of all plaintiff shareholders' petitions against Sino Clean Energy, Inc. (SCEI), including their petition to place the Nevada corporation immediately into receivership. In her final Order issued on May 12, 2014, Judge Peck appointed Robert Seiden as the receiver for...

2014-05-02 16:22:06

Receives Court Authorization to Continue Customer Programs, Employee Wages and Benefits, and Payments to Vendors, Suppliers and Trading Counterparties in the Ordinary Course for Post-Petition Goods and Services DALLAS, May 2, 2014 /PRNewswire/ -- Energy Future Holdings (EFH) announced today that the U.S. Bankruptcy Court for the District of Delaware has granted the relief requested by the company in key first day motions it filed in conjunction with its voluntary petitions for reorganization...

2014-04-28 08:20:36

MONTRÉAL, April 28, 2014 /CNW Telbec/ - ACE Aviation Holdings Inc. (ACE) today reported full year results for 2013, and provided an update with respect to its liquidation process. 2013 Annual Results For 2013, ACE recorded an increase in net assets in liquidation of $1.1 million. This increase was primarily due to interest income earned during the year offset by administrative and other expenses. As at April 25, 2014, ACE's only remaining assets consist of cash and short-term...

2014-04-23 23:13:20

Debt Consolidation USA shares how teenagers can start learning about financial responsibility at a young age. New York, NY (PRWEB) April 23, 2014 Debt Consolidation USA recently shared in an article last April 21, 2014 how important it is for teenagers to start learning about financial responsibility. In an article titled “6 Lessons Teens Need For Grown Up Financial Responsibility”, the site shares some key points on how to get teens started early on the correct path to handling their...

2014-04-14 04:20:47

Worldwide Operations and Telecommunications Services Continue Through Restructuring Process MARLBOROUGH, Mass., April 14, 2014 /PRNewswire/ -- TelexFREE LLC today announced that it and certain of its subsidiaries and affiliates filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code, in an effort to address certain operational challenges. The petitions were filed in the U.S. Bankruptcy Court for the District of Nevada. TelexFREE intends to use the Chapter...

2014-04-07 16:21:54

-- Receives Commitment for $110 Million in DIP Financing RICHMOND, Va., April 7, 2014 /PRNewswire/ -- James River Coal Company (NASDAQ: JRCC), today announced that the Company and its subsidiaries have filed voluntary petitions for reorganization under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Eastern District of Virginia Richmond Division. James River intends to use the Chapter 11 process to continue implementing a comprehensive turnaround plan aimed at...

2014-04-01 08:32:27

Cole Schotz Partners with UpShot Services to Bring Technology to Chapter 11 Voting Process DENVER, April 1, 2014 /PRNewswire/ -- Marking a significant first in Chapter 11 history, the U.S. Bankruptcy Court for the District of Delaware approved electronic balloting procedures in the Pitt Penn Holding Company, Inc., et al. matter. Cole, Schotz, Meisel, Forman & Leonard, P.A. ("Cole Schotz"), counsel to the Chapter 11 Trustee, and claims & noticing agent UpShot Services LLC...


Word of the Day
barratry
  • The offense of persistently instigating lawsuits, typically groundless ones.
  • An unlawful breach of duty on the part of a ship's master or crew resulting in injury to the ship's owner.
  • Sale or purchase of positions in church or state.
This word ultimately comes from the Old French word 'barater,' to cheat.
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