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Full-service storage company Closetbox Inc. has filed for Chapter 7 bankruptcy. According to documents filed Friday with the U.S. Bankruptcy Court for the District of Colorado, the company has liabilities of $650,546 and assets of $32. $247. Closetbox, which was founded in 2014, tried to stand out in the storage industry as a full-service company …

A LATAM Airlines plane carrying cargo in Montevideo, Uruguay February 25, 2021. REUTERS/Mariana Greif Join now for FREE unlimited access to Reuters.com Register Summary Law firms Related documents Opponents called the fees unreasonably high The judge finds the fees reasonable given the financing risk (Reuters) – LATAM Airlines Group SA on Tuesday won court approval …

Although bankruptcy filings have been rare in the two years since the emergence of COVID-19,[1] deposits are expected to start rising again as government pandemic assistance and financial buffers, such as forbearance agreements, are lifted. Despite the current lull in bankruptcy filings, bankruptcy law has continued to evolve in recent years with the passage of …

DOVER, Del. (AP) — More than two years after the Boy Scouts of America filed for bankruptcy protection amid a spate of child sex abuse allegations, a judge will determine whether to confirm its proposed reorganization plan in a trial beginning Monday. The trial in U.S. bankruptcy court in Delaware is expected to drag on …

This entry is part of Nelson Mullins’ Bankruptcy Basics ongoing blog series which aims to address the fundamentals of bankruptcy for practitioners and non-bankruptcy professionals. This entry will explain the concepts of bankruptcy “estate” and “estate ownership” and their importance. When a debtor files for bankruptcy, the bankruptcy “mass” is immediately constituted. It consists of …

How to get out of student loan debt Getty Images/iStockphoto Question: I’m about to turn 65 and eligible for Medicare. I have a bachelor’s degree in corporate and organizational communication and an associate’s degree in marketing and sales technology. I was 40 when I graduated. My younger classmates got great jobs. I went bankrupt and …

FORT COLLINS – Nitrocrete LLC, a company that has developed techniques for controlling concrete temperatures with liquid nitrogen, has sold most of its assets to Texas-based Magnolia subsidiary Cryogenic Industrial Solutions LLC for 6, $5 million. Nitrocrete filed for Chapter 11 bankruptcy protection in United States Bankruptcy Court in Denver on November 18, 2021, citing …

Those suing Johnson & Johnson, claiming talc-based baby powder caused their cancer, have once again been frustrated. After splitting into two companies, Johnson & Johnson’s subsidiary, LTL Management, can file for bankruptcy. Under a Texas law, commonly referred to as “Texas Two-Step”, Johnson & Johnson spun off the business and created LTL management. After its …

American Apparel Founder Dov Charney Files for Chapter 11 Bankruptcy – Sourcing Journal Facebook pinterest Search icon SourcingJournal_horiz Glass Twitter Shape camera graph-trend logo Shape icon / user You will be redirected to your article in seconds March 15, 2022 7:47 a.m. ET In a duel that never seems to end, Dov Charney is locked …

Puerto Rico’s government officially emerges from bankruptcy after completing the largest public debt restructuring in U.S. history after announcing nearly seven years ago that it was unable to pay its debt by more of $70 billion. By DÁNICA COTO Associated Press March 15, 2022, 12:36 • 3 minute read Share on FacebookShare on TwitterEmail this …

After more than 15 years at Facey, Goss & McPhee, a local attorney took over as U.S. bankruptcy judge for Vermont on Monday. Heather Zubke Cooper has a “broad and diverse background in bankruptcy law” with over 20 years of experience in “the finance and restructuring industry, representing individual and corporate debtors and creditors in …

To print this article, all you need to do is be registered or log in to Mondaq.com. 2021 has been a productive year for the Corporate Restructuring + Insolvency group at Morrison & Foerster. We want to offer our friends and clients an overview of the cases we have worked on throughout the year. As …

Epican Atlanta-based legal services industry intelligence provider, released its February 2022 bankruptcy filing statistics from its new Bankruptcy analysis platform which found that deposits rose 3.2% last month to 26,985 deposits of all types, up from 26,194 in January, but down from 27,957 in December. Comparing year-over-year data from February 2021 to February 2022, bankruptcy …

In a recent decision,1 The United States Bankruptcy Appeals Board of the 9th Circuit has clarified an important step construction lien holders must take to perfect their liens when the debtor has filed a bankruptcy petition before the lien holder files a foreclosure action. In this case, the debtor undertook to pay the contractor approximately …

David Aviram of Maverick Real Estate Partners (Maverick Real Estate Partners, LoopNet, Apartments.com, iStock/Photo Illustration by Steven Dilakian for The Real Deal) The grueling three-year battle between Brooklyn landlord Chaskiel Strulovitch and lender Maverick Real Estate Partners is coming to an end. After putting 31 of his Brooklyn apartment buildings into Chapter 11 bankruptcy in …

The computer repairman at the center of the Hunter Biden laptop saga is ready to tell his side of the story. In a new interview with the New York PostJohn Paul Mac Isaac, who in 2020 alerted the FBI to incriminating emails, text messages, photos and financial documents about Biden’s infamous laptop, before handing it …

A. Bankruptcy Imagine that the Acme Widget Company discovers that, to its horror, no one wants its widgets anymore. [Maybe its “widget” was a buggy for horse-drawn carts, and the automobile had just been invented.] Acme owed $100,000 to its suppliers, but had assets that only totaled $5,000, with no prospect of adding to those …

Russia-backed grocery delivery app Buyk, which has been crippled by sanctions, is seeking U.S. backers in a bid to save itself from bankruptcy, The Post has learned. In a company-wide call hours after Buyk suddenly suspended its 15-Minute Delivery service and fired 98% of its employees due to Russian sanctions, CEO James Walker presented three …