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In re Garlock Sealing Technologies, LLC is a court case heard in the United States District Court for the Western District of North Carolina which involves the entry into bankruptcy proceedings by Garlock Sealing Technologies, once a manufacturer of coated asbestos gaskets, as a result of potential liability from current and future settlements. [1]
Bankruptcy was filed two months later, resulting in the sale of assets of the Humboldt Creamery at auction on August 27, 2009, to Foster Farms Dairy for $19.25 million. [ 3 ] [ 4 ] [ 5 ] The former CEO pleaded guilty to changing the values of the Creamery's receivables and payables for three years between 2005 and 2008. [ 3 ]
The Bankruptcy Act of 1898 (Act of July 1, 1898, ch. 541, 30 Stat. 544) was the first permanent bankruptcy law and remained in effect until the passage of the Bankruptcy Reform Act of 1978 (Pub. L. 95–598, 92 Stat. 2549, November 6, 1978). The 1898 Act created "courts of bankruptcy" defined as the district courts of the United States.
The bankruptcy followed his divorce and a court order requiring him to pay his ex-wife $600,000 of alimony. [65] [63] He filed for bankruptcy for his company Right-On Production at the same time. [64] Vince McMahon: American wrestling promoter Filed in a U.S. bankruptcy court. [66] 1976 [66] [67] They owed a total of $955,805 to 26 distinct ...
NEW YORK (Reuters) -FTX received court approval of its bankruptcy plan on Monday, which will allow it to fully repay customers using up to $16.5 billion in assets recovered since the once-leading ...
consisting of such suggestions as peer mentoring, court watching, and continuing education. The JPC reports are shared with the judges being evaluated, their presiding judges, and with the Chief Judge of the Circuit Court. The JPC will oversee a court watching program for these judges and will re-evaluate the judges within three years.
The bankruptcy judge is appointed for a renewable term of 14 years by the United States Court of Appeals for the circuit in which the applicable district is located (see 28 U.S.C. § 152). The Federal Rules of Bankruptcy Procedure (FRBP) govern procedure in the U.S. bankruptcy courts.
The company along with certain of its subsidiaries filed for Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas. In a filing with the court, Party City Holdco listed both ...