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Houghton Mifflin Harcourt files for bankruptcy protection

The large publishing firm Houghton Mifflin Harcourt has decided to file for Chapter 11 bankruptcy. The paperwork was turned in on Monday at a New York bankruptcy court.

The company’s debts were recorded at $3.1 billion, and it also listed numerous creditors in its filing. The restructuring process will involve creditors giving up their debt holdings for an equity stake in the company.

Houghton Mifflin Harcourt is based out of Boston, Massachusetts. There are approximately 600 employees in the company that work out of two locations in Massachusetts, Boston and Wilmington. No jobs are expected to be compromised in the restructuring of the company.

Filing for bankruptcy can be a long process, and bankruptcy mistakes are often made. If you have questions regarding filing, please contact the bankruptcy lawyers of Greenway Bankruptcy Law, LLC, by calling (205) 324-4000 today.

Bankruptcy case dismissed for Nadya Suleman

Nadya Suleman, as previously reported, sought the help of Chapter 7 bankruptcy last month. She filed for the bankruptcy protection but was ordered by the court to produce about a dozen extra documents pertaining to her finances.

She was given until Monday, May 14, to file this additional paperwork with the court. On Monday, there was no word from Suleman and no sign of the paperwork. As a result of missing this deadline, her Chapter 7 bankruptcy case was thrown out.

Along with the case being dismissed, the hold on the foreclosure of her house was lifted. Suleman is the mother of 14 children and has been unemployed, supporting her family with disability checks and food stamps. She has yet to comment on this recent development.

Please contact the Chapter 7 bankruptcy lawyers of Greenway Bankruptcy Law, LLC, by calling (205) 324-4000 if you or someone you know has questions regarding Chapter 7 bankruptcy protection.

Hostess restructures company in midst of bankruptcy

In the beginning of 2012, Hostess Brands Inc. filed for Chapter 11 bankruptcy. The company needed assistance with its finances and sought the bankruptcy protection.

Now, months after filing, the company is considering laying off thousands of workers in order to become a successful business once again. Throughout the country, there are approximately 18,500 individuals who are employed through Hostess.

This week, those employees will be receiving official notices of a possible layoff in the company. These alerts are intended to inform the employees of a potential layoff and to give them enough time to prepare in case they do lose their jobs. The future of the company that is famous for the dessert food Twinkies is still uncertain as it goes through the reorganization process that is associated with Chapter 11 bankruptcy.

 

Nadya Suleman seeks Chapter 7 bankruptcy protection

Nadya Suleman, who has been deemed ‘Octomom’ by the media, has sought Chapter 7 bankruptcy protection. The single mother of 14 has been trying to support her large family on food stamps and Social Security disability checks.

Her debt has rapidly increased, and she owes close to $1 million to several different creditors. Suleman listed her assets at $50,000 and claims that she has no way of paying this large amount of debt on her own.

Suleman believes that this filing is the best thing for her and her children at this time. She is hopeful that she will be able to provide for her family after emerging from bankruptcy.

If you are considering filing for Chapter 7 bankruptcy protection, you need experienced representation on your side. Please contact the Birmingham Chapter 7 bankruptcy lawyers of Greenway Bankruptcy Law, LLC, by calling (205) 324-4000 today.

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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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