Bankruptcy doesn't have to be something bad.
It can actually be the start of something good.
Your situation is unique, and it's personal.
Your attorney should be as well.

Bankruptcy judge requires Texas Rangers to change bankruptcy plan

The Texas Rangers’ reorganization plan was challenged in bankruptcy court earlier this week. According to court reports, a bankruptcy judge said that while the lenders cannot veto a sale they do have a say in the sale process.

As a result of the ruling, the current owner and secured creditors will need to renegotiate the bankruptcy plan. The result of the ruling could also reopen the bidding process for the team.

If your company has questions about filing for bankruptcy, contact the Birmingham bankruptcy attorneys of Paula Greenway at (205) 324-4000.

Corus Bankshares Inc. files for Chapter 11 bankruptcy

Corus Bankshares Inc. filed for Chapter 11 bankruptcy earlier this week. According to court reports, the case was filed in the Northern District of Illinois Bankruptcy Court.

Corus Bankshares Inc. was a holding company that had its bank transferred to MB Financial Inc. in September. The transfer was part of a takeover by regulators. The bank had 80 branches and more then $7 billion in deposits.

If you or anyone you know has considered filing for bankruptcy, contact the Birmingham bankruptcy attorneys of Greenway Bankruptcy Law, LLC, at (205) 324-4000.

Pacific Ethanol subsidiaries releases reorganization plan

Pacific Ethanol subsidiaries will emerge from bankruptcy. According to court reports, the subsidiaries of Pacific Ethanol, Inc. will reorganize as Pacific Ethanol Holding Co., LLC.

The reorganization plan was approved by the firms’ secured lenders. The plan will eliminate about $290 million of liabilities from the subsidiaries balance sheets. The plan also gives Pacific Ethanol the option to purchase a 25% interest in the the newly formed company.

If your company has considered filing for bankruptcy, contact the Birmingham bankruptcy attorney Paula Greenway at (205) 324-4000.

Midway Games reaches agreement with creditors' committee in Chapter 11

Midway Games continued its liquidating Chapter 11 plan this past week. According to court reports, the company’s creditors’ committee agreed to settle claims against the company’s owner Summer Redstone.

The settlement will likely allow unsecured creditors to recover 25 percent of their loans. It will be reviewed for approval June 23. Midway Games developed a number of video games, including “Mortal Kombat.”

If your company is considering a Chapter 11 bankruptcy filing, contact the Birmingham Chapter 11 attorney Paula Greenway at (205) 324-4000.

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505 20th St N #1220
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Phone: (205) 324-4000
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Greenway Bankruptcy Law, LLC All rights reserved. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. The following language is required pursuant to Rule 7.2, Alabama Rules of Professional Conduct. No representation is made that the quality of legal services to be performed is greater than the quality of legal services performed by other lawyers. This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.

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