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On February 19, 2020, the Diocese of Harrisburg filed for Chapter 11 bankruptcy protection after disclosing to federal bankruptcy court it has more than 200 creditors and estimated liabilities between $50 million and $100 million, with assets of less than $10 million. The Harrisburg Diocese was the first Catholic diocese in Pennsylvania to seek ...
Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. [1]
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Of course, filing for bankruptcy doesn’t necessarily mean a business is going bust. Companies tend to use the Chapter 11 process to wind down some operations, tackle mounting debt and save on ...
The Legal Services Corporation (LSC) is a publicly funded, 501(c)(3) non-profit corporation established by the United States Congress.It seeks to ensure equal access to justice under the law for all Americans by providing funding for civil legal aid to those who otherwise would be unable to afford it.
The Kentucky-based company’s bankruptcy case could’ve easily ended up in a “much darker place,” said Judge David Jones of the federal bankruptcy court for the Southern District of Texas.
The settlement of the lawsuit defines legal requirements of the parties and is often put in force by an order of the court after a joint stipulation by the parties. In other situations (as where the claims have been satisfied by the payment of a certain sum of money), the plaintiff and defendant can simply file a notice that the case has been ...
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