Court Ruling Could Help Arizonans in Chapter 7 Protect Assets

Arizona residents who file for Chapter 7 bankruptcy do not necessarily have to surrender annuities or life insurance policies, according to a federal appeals court ruling dating back to 2012. The decision has relatively limited impact nationally because the court relied upon the provisions of Arizona law pertaining to exempt property.
 A person who seeks [...]

Asset Liquidation Issues in Chapter 7

Bankruptcy can provide a fresh financial start for a consumer who is overwhelmed with personal debt. Chapter 7 bankruptcy allows a person to stop creditor harassment and eliminate most debt. For some Arizona consumers with assets, filing for Chapter 7 might pose a problem because of the asset liquidation requirement associated with this type of [...]

By |2014-07-08T04:14:54+00:00July 8th, 2014|Assets, Chapter 7|0 Comments

Arizona Ambulance Provider Files For Chapter 11 Bankruptcy

Arizona-based Rural/Metro. Corp., which is owned by Warburg Pincus LLC, has filed for Chapter 11 bankruptcy protection. The company has negotiated an agreement with certain creditors to help obtain new capital while reducing company debts by approximately 50 percent. The chief financial officer claimed that the proposed plan will allow the company to continue to [...]

By |2014-01-27T17:36:59+00:00January 27th, 2014|Bankruptcy News, Business Bankruptcy|0 Comments

Bankruptcy Negotiations Over Energy Future Holdings Corp. Stall

Residents in Phoenix may have heard that the three companies, KKR & Co., Goldman Sachs Capital Partners and TPG Capital, that bought out much of Energy Future Holdings Corp. are struggling to recover just 3 percent of their investment. The energy company plans to file for business bankruptcy. The companies were negotiating a resolution in [...]

By |2014-01-23T17:53:06+00:00January 23rd, 2014|Bankruptcy News, Business Bankruptcy|0 Comments

Lehman Bankruptcy Largest In History

Arizona residents might be startled to learn that the Lehman bankruptcy is reportedly the largest one in history. Five years after the date of filing, the attorney fees for the case have reached an astonishing $2.2 billion. Numerous lawyers, consultants, accountants and other professionals have assisted in the bankruptcy since September 2008.   According to [...]

By |2014-01-17T05:53:25+00:00January 17th, 2014|Business Bankruptcy|0 Comments