Commercial Bankruptcy Can Mean A New Life For A Business

Many people see bankruptcy as symbolic of failure. In fact, bankruptcy can provide a fresh start for an individual or entity. Small companies to large corporations in Arizona and across the country use business bankruptcy to continue business operations while negotiating with creditors. In the case of an east coast ski resort, mild winter weather [...]

By |2014-11-03T16:18:57+00:00November 3rd, 2014|Bankruptcy in Arizona, Business Bankruptcy, Chapter 11|0 Comments

One Resort Requires Five Chapter 11 Filings

A single-location resort would not appear to be the source of multiple business bankruptcy filings, but when it is operated by five business entities, it requires five separate Chapter 11 filings. That is what occurred in late 2012 when five commercial bankruptcy proceedings were filed in the bankruptcy court in Phoenix related to the operation [...]

By |2014-02-25T16:58:55+00:00February 25th, 2014|Bankruptcy in Arizona, Bankruptcy News, Chapter 11|0 Comments

Airline Trimmed Costs During Business Bankruptcy

Business owners in Phoenix, Arizona, are all too aware of the effect a struggling economy has had on their cash flow and accounts receivable payments. Business owners across the country who made the difficult decision to pursue a business bankruptcy have saved their companies by using the business reorganization process to drastically cut costs. For [...]

By |2014-02-19T23:39:03+00:00February 19th, 2014|Bankruptcy News, Business Bankruptcy, Chapter 11|0 Comments

Half of Arizona Chapter 11 Filings Are Personal Bankruptcy

Arizona experienced a 22 percent decline in bankruptcy filings in 2012 from a year earlier, and Chapter 11 bankruptcies increased 14.5 percent in 2012. Individuals and not businesses accounted for more than half of the Chapter 11 filings. This is somewhat unusual because most people filing a personal bankruptcy file either a Chapter 7 or [...]

By |2014-02-06T01:47:36+00:00February 6th, 2014|Chapter 11, Personal Bankruptcy|0 Comments

Eastman Kodak’s Business Bankruptcy Woes Continue

As Eastman Kodak struggles to handle its obligations under a business bankruptcy filing, the third quarter postings indicate that the losses for the company were $312 million. This is almost $100 million more than the $222 million loss posted for the third quarter of 2011. Part of the reason may come from a 19 percent [...]

By |2014-02-04T17:04:37+00:00February 4th, 2014|Bankruptcy News, Business Bankruptcy, Chapter 11|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

Simply Wheelz, DBA Advantage Rent A Car, Files for Chapter 11

Simply Wheelz LLC, which does business as Advantage Rent A Car, filed for Chapter 11 bankruptcy protection on Nov. 5, 2013. The company offers car rentals in 33 states and has a location at Phoenix Sky Harbor Airport in Arizona. Advantage had been sold by Hertz Corp to Franchise Services of North America and Macquarie [...]

By |2014-01-21T18:27:27+00:00January 21st, 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