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Under the new law, the homestead exemption, which allows bankruptcy filers in some states to exempt the value of their homes from creditors, is limited in various ways. If a filer acquired their home less than 1,215 days (40 months) before filing, or if they have been convicted of security law violations or been found guilty of certain crimes ...
Red Lobster is looking to file for Chapter 11 bankruptcy to restructure its debts after attempting a promotion that sank the seafood restaurant chain's bottom line, according to Bloomberg.. On the ...
Certain scholars and politicians have advocated for a reform of the law to allow states to seek bankruptcy. [6] [3] [4] They argue that the law will require voluntary consent by the state and will not give the federal government or creditors the power to force a bankruptcy; therefore it would not interfere with state sovereignty or be unconstitutional.
When Big Lots announced it was filing for Chapter 11 bankruptcy protection in September, it planned on closing more than 340 stores, USA TODAY reports. Another 50 closures were announced in October.
In December 2010, Washington Park briefly emerged from bankruptcy and then filed a new petition for bankruptcy which was rejected by the judge, who stated there was no Illinois state law enabling a municipality to file a Chapter 9 bankruptcy petition. Denied by courts [59] [60] Las Vegas Monorail Company, Las Vegas Private company 2010
Red Lobster considers filing for Chapter 11 bankruptcy As reported earlier, Red Lobster was considering filing for Chapter 11 bankruptcy after a failed promotion cost it millions of dollars ...
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