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The Pulitzer Prize-winning Santa Barbara News-Press has declared bankruptcy and ceased publication after more than 150 years of newsgathering.
On July 13, 2015, DonJon filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Connecticut with a debt of $32,509,549.91. Modern bankruptcy law often distinguishes reorganization , in which only some of the bankrupt's assets are taken, a repayment plan is devised and part of the debt is discharged , from ...
In limited circumstances, the creditors involved in a bankruptcy case can elect a trustee. In a Chapter 7 Bankruptcy ("Liquidation") the trustee gathers the debtor's non-exempt property, managing the funds from the sale of those assets, and then paying expenses and distributing the balance to the owed creditors.
Each United States Trustee, an officer of the Department of Justice, is responsible for maintaining and supervising a panel of private trustees for Chapter 7 bankruptcy cases (see ). The United States Trustee has other duties including the oversight of administration of most bankruptcy cases and trustees (see generally 28 U.S.C. § 586(a)(3) ).
Two years after Aspirity Energy filed for bankruptcy, the U.S. trustee in charge of liquidating the failed Minneapolis energy company had owner Tim Krieger on a witness stand — under oath. But ...
There is an $85 million shortfall between what partner banks of fintech middleman Synapse are holding and what depositors are owed, according to the court-appointed trustee in the Synapse bankruptcy.
Bankruptcy courts appoint a trustee to represent the interests of the creditors and administer the cases. The U.S. Trustee [3] appoints Chapter 7 trustees for a renewable period of 1 year, Chapter 13 trustees are "standing trustees" who administer cases in a specific geographic region.
A Los Angeles-based company that owns more than a dozen hospitals in four states filed for bankruptcy late Saturday night, the second major system acquired by private equity to collapse in less ...