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    May 31, 2013 |Story| Petoskey News

  1. Detroit finances put cultural institutions on edge

    DETROIT (AP) — Cultural institutions with assets or collections that are owned by or tied to the city of Detroit are concerned about their own future after word that the Detroit Institute of Arts' collection could be sold to help satisfy creditors if Detroit seeks bankruptcy protection.
    DETROIT (AP) — Cultural institutions with assets or collections that are owned by or tied to the city of Detroit are concerned about their own future after word that the Detroit Institute of Arts' collection could be sold to help satisfy creditors...

    Tags: Arts, Finance, Rick Snyder, Belle Isle, Arts and Culture

    2. May 28, 2013 |Story| WSBT Radio

  2. Billy Joel Says Booze & Bankruptcy Allegations Bogus

    <span style="font-size: small;">In a new interview with The New York Times Magazine, Billy Joel took on two tabloid tales he says are blatantly bogus: having a DUI on his record and filing for bankruptcy. Joel insists drinking was not the cause of either of his car accidents which occurred in 2002 and 2003, instead blaming &ldquo;really dark roads&rdquo; for the first, and &ldquo;black ice&rdquo; for the other. He adds, &ldquo;I never had a DUI in my life. That&rsquo;s another fallacy. Look at the police records.&rdquo; On the subject of his finances, Joel says filing for bankruptcy &ldquo;never happened either.&rdquo; He explained, &ldquo;I owed Uncle Sam a couple of million bucks in income tax, and the money that I thought was there, wasn&rsquo;t there.&rdquo;</span>
    In a new interview with The New York Times Magazine, Billy Joel took on two tabloid tales he says are blatantly bogus: having a DUI on his record and filing for bankruptcy. Joel insists drinking was not the cause of either of his car accidents which...

    Tags: The New York Times, Bankruptcy

    3. Jun 5, 2013 |Story| Los Angeles Times

  3. Orange County producer gets 27 years in B-movie Ponzi scheme

    An Orange County movie producer convicted of bilking mostly elderly investors out of $9.5 million in a Ponzi scam involving B movies such as &ldquo;Confessions of a Pit Fighter&rdquo; and &ldquo;Lake Dead&rdquo; has been sentenced to 27 years in state prison.
    An Orange County movie producer convicted of bilking mostly elderly investors out of $9.5 million in a Ponzi scam involving B movies such as “Confessions of a Pit Fighter” and “Lake Dead” has been sentenced to 27 years in state...

    Tags: Kamala D. Harris, Finance, Flavor Flav, Steven Weber, Punishment

    4. Jun 5, 2013 |Story| Petoskey News

  4. Philadelphia building collapses kills six, injures 14

    <strong>Updated 8 a.m. Thursday.</strong>
    Updated 8 a.m. Thursday. PHILADELPHIA (AP) — Rescue workers were digging through rubble Thursday for any additional victims who may have been trapped when a building under demolition collapsed onto a neighboring thrift store, killing six people...

    Tags: Witnesses, Occupational Safety and Health Administration, Cocaine, Health and Safety at Work, Prosecution

    5. Jun 5, 2013 |Story| Los Angeles Times

  5. Bankruptcy filings decline in May

    In the latest sign that the worst of the recession is receding, the American Bankruptcy Institute reported Wednesday that total filings were down 12% last month from the same period last year. Total U.S. bankruptcy filings were down to 96,430 last...

    Tags: Bankruptcy

    6. May 30, 2013 |Story| Orlando Sentinel

  6. Casey Anthony bankruptcy hearing ends without ruling

    TAMPA -- The debate continued Thursday on what's next for the defamation lawsuits against Casey Anthony, but nothing was decided after an hour-long hearing in bankruptcy court.
    TAMPA -- The debate continued Thursday on what's next for the defamation lawsuits against Casey Anthony, but nothing was decided after an hour-long hearing in bankruptcy court. U.S. Bankruptcy Judge K. Rodney May said he hopes to rule in about three...

    Tags: Lawyers, Judges, Casey Anthony, Trials, Justice System

    7. May 30, 2013 |Story| Chicago Tribune

  7. 10-year strike at Congress Plaza Hotel is over

    A 10-year strike at the Congress Plaza hotel in downtown Chicago -- believed to be the longest hotel strike in the world --has ended.
    Tribune staff report
    A 10-year strike at the Congress Plaza hotel in downtown Chicago -- believed to be the longest hotel strike in the world --has ended. An attorney for the hotel said Unite Here Local 1, the union representing cleaning and maintenance workers, has offered...

    Tags: Collective Contract, Politics, Franklin Delano Roosevelt, Wage Contract Issues, Unions

    8. May 30, 2013 |Story| Los Angeles Times

  8. CNET founder Halsey Minor files for bankruptcy

    Halsey Minor, the CNET founder who accumulated a fortune in the tech industry, has filed for bankruptcy in Los Angeles.
    Halsey Minor, the CNET founder who accumulated a fortune in the tech industry, has filed for bankruptcy in Los Angeles. In the personal bankruptcy filing May 24, Minor cited $50 million to $100 million in liabilities with 60 creditors, and assets of $10...

    Tags: HSBC Holdings plc, Internal Revenue Service, Sotheby's Holdings Incorporated, Bankruptcy, Bank of America Corp.

    9. May 27, 2013 |Story| Los Angeles Times

  9. Who takes hit in city bankruptcies: bondholders or workers?

    The municipal-debt market has always rested on a simple notion &mdash; that local governments would do whatever they must to repay borrowed money.
    The municipal-debt market has always rested on a simple notion — that local governments would do whatever they must to repay borrowed money. Cities wouldn't want to default on their bonds, some of which are owned by their own citizens. And they...

    Tags: California Public Employees' Retirement System, Employees, Interior Policy, Finance, Politics

    10. May 9, 2013 |Story| Los Angeles Times

  10. Developers buy Rhythm & Hues' ex-headquarters in El Segundo

    The former El Segundo headquarters of the visual effects studio Rhythm &amp; Hues has been sold for $25 million to real estate developers who plan to upgrade it and turn it into an office campus for creative firms.
    The former El Segundo headquarters of the visual effects studio Rhythm & Hues has been sold for $25 million to real estate developers who plan to upgrade it and turn it into an office campus for creative firms. Rhythm & Hues was acquired in March in a...

    Tags: Defense Equipment, Investments, Services and Shopping, Entertainment, Real Estate Buyers

    11. May 9, 2013 |Story| Los Angeles Times

  11. Rhythm & Hues effects house in search of a new home

    Rhythm &amp; Hues, the Oscar-winning visual effects house that recently emerged from bankruptcy protection, is now looking for a new home.
    Rhythm & Hues, the Oscar-winning visual effects house that recently emerged from bankruptcy protection, is now looking for a new home. As Times writer Roger Vincent reports, the company's 200,000-square-foot El Segundo headquarters has been sold for $25...

    Tags: Companies and Corporations, The Weinstein Company, Life of Pi (movie), Economy, Business and Finance, Twentieth Century Fox Film Corp.

    12. May 24, 2013 |Story| Orlando Sentinel

  12. Battling a Motion to Strip or Motion to Value in Bankruptcy Court

    Blog Sponsored by Taylor & Carls, P.A. The association has finally obtained its foreclosure judgment for nonpayment of assessments.  A sale date has been set.  Then, the owner files bankruptcy.  What does the association then do?  Historically, and...

    Tags: Orlando, St. Petersburg (Pinellas, Florida), Tampa, Mortgages, Bankruptcy

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Financially Distressed Companies Photos
George R. Mesires has been named co-chair of the Financ...
(February 4, 2013)
George R. Mesires , Finance and Restructuring practice co-chair, Ungaretti & Harris
He also has experience representing debtors in Chapter...
(November 18, 2012)
Matthew V. Wargin, partner, Mayer Brown
Thomas M. Lynch of Faegre Baker Daniels LLP has been ap...
(October 31, 2012)
Thomas Lynch, U.S. Bankruptcy Judge, Northern District of Illinois
 » All 23 Financially Distressed Companies photos