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National Consumer Bankruptcy Law Firm Sanctioned for Harming Financially Distressed Consumers and Auto Lenders

After a four-day trial, a national consumer bankruptcy law firm and its local partner attorneys were sanctioned and enjoined by the U.S. Bankruptcy Court for the Western District of Virginia for causing “unconscionable” harm to their clients. The court found that the law firm and its attorneys, among other things, systematically engaged in the unauthorized[...]

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Bankruptcy Filings Continue to Decline

Bankruptcy filings fell by 1.8 percent for the 12-month period ending March 31, 2018, compared with the year ending March 31, 2017. The data continues a national trend of declining bankruptcy filings since 2011. The March 2018 annual bankruptcy filings totaled 779,828, compared with 794,492 cases in the previous year, according to statistics released by[...]

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Just the Facts: Consumer Bankruptcy Filings, 2006-2017

Just the Facts is a feature that highlights issues and trends in the Judiciary based on data collected by the Judiciary Data and Analysis Office (JDAO) of the Administrative Office of the U.S. Courts. Bankruptcy can provide a fresh financial start for consumers who cannot pay their debts, either because of insolvency or insufficient income to meet creditor demands.[...]

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Here are the bankruptcy sale details on Schlitterbahn Corpus Christi

You want to buy a water park? An NYC law firm has put Schlitterbahn Corpus Christi on the market after Upper Padre Partners, LP, filed for bankruptcy with bankruptcy lawyers last May. Water park, hotel, 9-hole golf course and 109 more acres of developed land on Padre Island. How much would you pay? Keen-Summit Capital Partners,[...]

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U.S. gunmaker Remington seeks financing to file for bankruptcy

Remington Outdoor Company Inc, one of the largest U.S. makers of firearms, has reached out to banks and credit investment funds in search of financing that will allow it to file for bankruptcy, people familiar with the matter said on Thursday. The move comes as Remington reached a forbearance agreement with its creditors this week[...]

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Toys ‘R’ Us Files For Bankruptcy, But Will Keep Stores Open

Suffering from slumping sales and mountains of debt, Toys ‘R’ Us has filed for bankruptcy. The 69-year old Toys ‘R’ Us was once the mecca of kids’ gifts. But it was eventually overtaken by Walmart and ultimately Amazon. In its fight to stay relevant, Toys ‘R’ Us amassed $5 billion in debt. That came from[...]

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Bankruptcy trustee: Topeka police find five undocumented vehicles in Lindemuth building

Five vehicles recovered from a South Topeka storage facility — including two high-performance cars from 1967 and 1973 — “likely” are the property of Topeka businessman Kent Lindemuth, the bankruptcy trustee of Lindemuth’s estate has said in a court filing. Lindemuth faces 117 criminal charges in two trials in U.S. District Court,the first of which[...]

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The first department store bankruptcy since the Great Recession could be coming soon

Department stores have been particularly hard hit by changes in consumer behavior over the past few years. However, one of the curious things about the so-called “retail apocalypse” is that not a single department store chain has filed for bankruptcy since the Great Recession. Even the weakest chains have managed to stay alive, thanks to[...]

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