Trigger > Bankruptcy Filings NEW

Sacramento developer Kolokotronis files for Chapter 7 bankruptcy

2012-02-04T08:00:00Z

Sacramento developer Sotiris Kolokotronis filed for personal bankruptcy Friday following years of legal battles over a failed Elk Grove housing complex.

Chapter 11 for building owner

2012-02-04T07:00:00Z

The owner of two prominent office buildings near the RBC Center in West Raleigh has filed for Chapter 11 bankruptcy.

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Several big names file for bankruptcy

2012-02-04T04:46:00Z

The owners of Mama Lacona's Restaurant, a developer of a touted office complex in Windsor Heights and former Drake basketball star Dolph Pulliam have filed for liquidation of their debts under federal bankruptcy laws, court records show.

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The owners of Mama Lacona?s Restaurant, a developer of a touted office complex in Windsor Heights and former Drake basketball star Dolph Pulliam have filed for liquidation of their debts under federal bankruptcy laws, court records show.

The largest filing among five notable petitions submitted in January came from developer Gregory Judas, who built an office complex at 66th Street and University Avenue as part of a 10-year revitalization project in Windsor Heights.

Judas?s bankruptcy petition lists $29.3 million in liabilities, including $28 million in unsecured loans and assets amounting to $814,383.

Other recent filings for personal liquidation of debts included:

James and Katie Lacona of Urbandale, who listed $3.1 million in liabilities and $381,700 in assets. The Laconas? debts included $2.7 million in unsecured loans.

Dolph Pulliam, a former basketball star and now the director of community outreach and development for Drake University, who listed less than $500,000 in liabilities and assets in his petition. The filing also listed the Iowa Department of Revenue and several banks as creditors. Pulliam, who also does color commentary on Drake men?s basketball radio broadcasts, declined to comment Friday.

Brian and Julia Borchardt, owners of the now-closed Great Harvest Bread Co., who listed $1.1 million in liabilities and $590,103 in assets. The Borchardts closed the bread company?s locations in Des Moines and Clive in November. In the filing, the Borchardts disclose that they obtained three mortgages on their home in Urbandale and owe a total of $741,823 in secured debt on those mortgages.

Judas joins a number of well-known Des Moines area commercial and residential developers who have filed for bankruptcy in recent months. The filings were a result of the meltdown in real estate values that began in 2008 when lending institutions began to cut off credit to developers and demand repayment of loans.

Other prominent metro developers ? including Randal Walters, James Myers, John Gamble, Joel Goodman, David Walters and Jon Garnaas ? have filed for personal liquidation of their debts under Chapter 7 of the federal bankruptcy code.

Judas and his company, KC Holdings, voluntarily turned the property over to VisionBank of Iowa, which sued in March 2009 after the company defaulted on a $4.5 million loan. The building was the last piece of a three-stage project known as the Windsor Heights Town Center, a mix of residential and commercial properties.

In his filing, Judas also disclosed that he owes $895,589 in federal income taxes going back as far as 2001 and that he failed to file state income tax returns from 2008 through 2011.

Judas also listed nearly $24 million in bank loans as unsecured loans. That includes $5.2 million from First American Bank, $4 million from Peoples Bank and Trust and $2.2 million from Community Business Lenders.

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Remember Shakers? Maker went bottoms up

2012-02-04T04:12:00Z

Infinite Spirits, which made the vodka in Benson, Minn., has filed for Chapter 7 liquidation. Production ended a year ago.

Sacramento developer Sotiris Kolokotronis files personal bankruptcy

2012-02-04T00:29:25Z

Prominent Sacramento developer Sotiris K. Kolokotronis filed personal bankruptcy on Friday, listing debts of $130 million.

Los Angeles Dodgers File Motion to Disallow Stow Bankruptcy Court Claim

2012-02-04T00:00:00Z

Visit StreetInsider.com at http://www.streetinsider.com/Press+Releases/Los+Angeles+Dodgers+File+Motion+to+Disallow+Stow+Bankruptcy+Court+Claim/7137349.html for the full story.

Fitch Withdraws 'D' Ratings on AES Eastern Energy LP

2012-02-03T21:26:00Z

Visit StreetInsider.com at http://www.streetinsider.com/Press+Releases/Fitch+Withdraws+%27D%27+Ratings+on+AES+Eastern+Energy+LP/7136526.html for the full story.

Sacramento's Le Rivage hotel files for bankruptcy protection

2012-02-03T21:04:05Z

Le Rivage Hotel, Sacramento's stylish but financially troubled riverfront inn, has filed gone into bankruptcy protection.

Laser cutting company seeks Chapter 11 help

2012-02-03T16:39:28Z

DAYTON - Greater Dayton Industrial Laser LLC, a laser cutting and fabricating services provider in Trotwood, on Wednesday filed a petition seeking Chapter 11 protection in U.S.

Investors, bankrupt Ky. oil company settle lawsuit

2012-02-03T16:31:09Z

Investors, bankrupt Ky. oil company settle lawsuit

Investors, bankrupt oil company settle lawsuit

2012-02-03T15:00:30Z

Investors, bankrupt oil company settle lawsuit

Esprit to close all North America stores

2012-02-02T21:26:53Z

San Francisco-born Esprit has announced it will close all 93 of its North American stores. The company, which is now traded on the Hong Kong stock exchange and is no longer based in the Bay Area, failed to find a buyer for its North American business. It is unclear if it will file for chapter 11 bankruptcy protection. According to a report in Business Week, Esprit is looking for a licensing partner for the brand in North America. There are two Esprit stores remaining in the inner Bay Area, and six in the broader region: Berkeley, San Leandro, Vacaville, Milpitas, Gilroy and St...

Owner of Shakers Vodka files for bankruptcy

2012-02-02T20:29:09Z

Infinite Spirits Inc., the maker of Shakers Vodka, has filed for Chapter 7 bankruptcy, according to court documents. The voluntary petition was filed in federal bankruptcy court by the Blaine-based company on Jan. 5. The petition shows the company has $100,000 to $500,000 in assets and $1 million to $10 million in liabilities. Trustee Rick Stermer of Montevideo told the West Central Tribune that the company will be liquidated, although its possible the Shakers brand will be purchased and continued...

Bankruptcy cases in Hawaii down 13.5% in January

2012-02-02T17:09:18Z

Bankruptcy filings in Hawaii fell to 212 cases in January, a 13.5 percent decline from 305 cases in the same month a year, according to figures from the U.S. Bankruptcy Court in Honolulu. The number of Chapter 13 cases filed in January fell 28.8 percent to 47 cases, compared to 66 cases during the ame month in 2011. The number of Chapter 7 cases declined 5.2 percent to 165 cases, compared to 174 cases in January 2011. Bankruptcies in Hawaii peaked in 2010 with a total of 3,954 filings. That number fell to 3,325 in 2011, a 16 percent decline.

Clothing retailer Avenue files for bankruptcy, to close stores

2012-02-02T06:49:00Z

The owner of a plus-size women's clothing retail chain that has seven stores in Orange County announced Wednesday that it has filed for Chapter 11 bankruptcy protection. United Retail Group, owner of 433 Avenue plus-size clothing stores, said it's...

TV, appliance dealer Queen City files Chapter 11 bankruptcy

2012-02-02T05:00:00Z

After 60 years in business, Queen City Audio, Video & Appliances filed for Chapter 11 bankruptcy Wednesday.

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Retailer files for bankruptcy, to close stores

2012-02-02T03:01:52Z

The owner of a plus-size women's clothing retail chain that has seven stores in Orange County announced Wednesday that it has filed for Chapter 11 bankruptcy protection.United Retail Group, owner of 433 Avenue plus-size clothing stores, said it's...

Clothing retailer files for bankruptcy, to close stores

2012-02-02T03:01:00Z

Personal Bankruptcy Lawyers Forced to Reduce Rates as National Bankruptcy Filings Decline

2012-02-02T00:29:00Z

Visit StreetInsider.com at http://www.streetinsider.com/Press+Releases/Personal+Bankruptcy+Lawyers+Forced+to+Reduce+Rates+as+National+Bankruptcy+Filings+Decline/7129059.html for the full story.

UPDATE 1-General Maritime files for plan of reorganization

2012-02-01T20:13:03Z

Feb 1 (Reuters) - General Maritime, which had filed for Chapter 11 bankruptcy protection in November, said private equity firm Oaktree Capital Management will provide it with $175 million in new...

General Maritime Files Plan of Reorganization and Disclosure Statement

2012-02-01T19:32:00Z

Visit StreetInsider.com at http://www.streetinsider.com/Press+Releases/General+Maritime+Files+Plan+of+Reorganization+and+Disclosure+Statement/7127378.html for the full story.

Judge approves settlement in WaMu bankruptcy

2012-02-01T19:17:00Z

Investors in Washington Mutual will drop a lawsuit against the failed bank under a settlement approved by a Delaware judge.

Report: American Airlines could cut 15,000 jobs

2012-02-01T18:02:59Z

The parent company of American Airlines, the seventh-biggest airline serving Pittsburgh International AIrport, could lay off as many as 15,000 employees. Media reports said Wednesday the Fort Worth, Texas-based AMR Corp. (OTC: AAMRQ.PK) was meeting with unions at its headquarters to go over plans to cut costs at the airline, which filed for Chapter 11 bankruptcy protection in November. Beyond American Airlines, AMR Corp. also owns regional airline American Eagle, Pittsburgh's ninth-biggest carrier...

American Airlines to cut 13,000 jobs

2012-02-01T18:02:59Z

The parent company of American Airlines, the seventh-biggest airline serving Pittsburgh International Airport, could lay off as many as 13,000 employees in a restructuring effort to save as much as $2 billion a year. Details of the plan were disclosed after AMR Corp. (OTC: AAMRQ.PK) met unions at its Fort Worth, Texas, headquarters to go over plans to cut costs at the airline, which filed for Chapter 11 bankruptcy protection in November. Beyond American Airlines, AMR Corp. also owns regional airline American Eagle, Pittsburgh's ninth-biggest carrier...

Longtime Charlotte appliance, electronics retailer files for bankruptcy

2012-02-01T17:24:32Z

After 60 years in business, Queen City Audio, Video & Appliances filed for Chapter 11 bankruptcy Wednesday morning.

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Queen City electronics retailer files for bankruptcy

2012-02-01T17:24:32Z

After 60 years in business, Queen City Audio, Video & Appliances filed for Chapter 11 bankruptcy Wednesday morning.

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Report: AMR to cut 10,000-15,000 jobs

2012-02-01T15:24:40Z

AMR Corp. (OTC: AAMRQ.PK), the bankrupt parent of American Airlines, plans to cut between 10,000 to 15,000 jobs. That's according to a report on CNBC, as reported on Flyonthewall.com.