This week in bankruptcy news: The company behind IBM’s storage cloud system ceased operations and filed for Chapter 7 liquidation. However,the company insists that arrangements have been made to ensure customers will not lose files stored on the system. Mixed in the middle of food fraud, Groeb Farms has filed for Chapter 11 to resolve  … Read more

This week in bankruptcy news: Clothing retailer JCPenney pairs with Goldman Sachs to investigate debt reduction strategies. Smartphone manufacturer BlackBerry looks to the Canadian equivalent of Chapter 11 to manage its failing finances. Read the full stories below: JCPenney Looking To Raise Capital As Goldman Hints At Bankruptcy, Playing Both Sides Of The Deal The  … Read more

This week in bankruptcy news: Detroit residents speak out about the city’s Chapter 9 filing and another electric vehicle manufacturer files for Chapter 11. Read the full stories below: Detroit residents to speak out in court against bankruptcy Ecotality, an electric car charger maker, files for bankruptcy

A federal bankruptcy judge gave the go-ahead for the reorganization plan that Fort Worth airline giant American Airlines has proposed, paving the way for the company to exit its bankruptcy and complete its proposed merger with Tempe, AZ air carrier US Airways. There is a rather large barrier remaining to the merger, however, in the  … Read more

Introducing the Lee Bankruptcy Fall Giveaway! We are giving away a FREE ipad mini to the lucky winner of our Facebook credit collections horror story contest! https://www.facebook.com/LeeLawFirm Prize: 16GB Ipad mini Contest:Creditor horror stories Describe your personal experience dealing with a creditor. We want to hear about any difficulties you have experienced negotiating with creditors.  … Read more

According to sources, the largest power provider in Texas is facing massive debt and may be forced to file for Chapter 11 Texas bankruptcy in the near future. Luminant Mining Co. is operating its coal mining and power facilities with more than $30 million in combined debts, and many are concerned about what it will  … Read more

A farmer originally from North Dakota has filed a Chapter 7 Texas bankruptcy to halt the sale of his several properties in that state. The farmer, according to a bankruptcy lawyer close to the case, had previously had a Chapter 11 petition dismissed, and was facing forced sale of five properties by a creditor who  … Read more

A New York-based wireless phone company has recently filed for Chapter 11 bankruptcy restructuring, according to a bankruptcy lawyer close to the case. Personal Communications Devices LLC filed for Chapter 11 protection and announced layoffs totaling just under 150 people. The company reported over $100 million in debts at the filing, with assets somewhere between  … Read more

This week in bankruptcy news: San Bernardino wins its eligibility suit in bankruptcy court, making a step forward in their insolvency case. Meanwhile, Kodak wraps up its Chapter 11 case as moves into the future with a more streamlined business model. Read the full stories below: San Bernardino bankruptcy ruling is a blow to CalPERS  … Read more

National Envelope, a leading envelope manufacturer based out of Frisco, TX, has recently declared Texas bankruptcy, filing for Chapter 11 protection. The company has been unable to sustain profits in a toughening marketplace, resulting in declining sales and operations in the red for several years. The Chapter 11 filing will clear the company’s debts; how  … Read more