Bankruptcy

N.D. Ga. - Judicial Estoppel Not Applied To Claim Not Disclosed In Debtor's Chapter 13 Schedules

Posted on March 06, 2009

Updated Means Test Figures for Cases Filed After March 15, 2009

Posted on March 06, 2009

Another Friday Evening, Another Georgia Bank Failure - Freedom Bank Of Georgia Closed

Posted on March 06, 2009
Freedom Bank of Georgia, based in Commerce, became the seventh Georgia bank failure in the last seven months.   Its deposit accounts have been transferred to Northeast Georgia Bank.  From the FDIC Notice: On March 6, 2009, Freedom Bank of Georgia, Commerce, GA was closed by the Georgia Department of Banking and Finance...

Moody's Predictions For Companies That Will File Chapter 11 In 2009

Posted on March 05, 2009

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Senator Joe Lieberman Complains About PACER Fees And Personal Data In Court Documents

Posted on March 03, 2009

Extreme Makeover Homeowner Files Bankruptcy Petition To Stop Foreclosure

Posted on March 03, 2009

Chapter 11 Filings For Northern District of Georgia In March 2009

Posted on March 03, 2009

Failed Haven Trust Bank Files Chapter 7 Petition In Northern District of Georgia

Posted on February 24, 2009
Haven Trust Bank, which was closed by Georgia Banking and Finance and the FDIC in December 2008, filed a Chapter 7 petition in the Northern District of Georgia yesterday, February 23, 2009.  In re Haven  Trust Bancorp, Inc., Ch. 7 Case No...

Ritz Camera, Owner Of Wolf Camera and Boaters World, Files Chapter 11 Bankruptcy Petition

Posted on February 23, 2009
Ritz Camera, the owner and operator of Boaters World and Wolf Camera, filed a Chapter 11 petition today in Delaware. Ritz bought Wolf in 2001 after Wolf filed a Chapter 11 in 2000.  Wolf had previously purchased Fox Photo.  Wolf has several stores in Atlanta, and Boaters World has two locations in Georgia...

Redaction Gone Awry - Screw-up Leads To Disclosure Of Clusely Guarded Settlement, And Value Of Facebook

Posted on February 14, 2009
This is not Bankruptcy related, but hopefully it will be a good tip for lawyers who try to electronically redact or remove text from documents. For lawyers in states or districts with electronic filing (which includes virtually all Bankruptcy lawyers in Georgia), it is important to know how to properly redact a document in ...

Several More Pure Med Spa Affiliates File Chapter 11 Petitions In Northern District Of Georgia

Posted on February 13, 2009
On December 4th, 2008, seven affiliates of Pure Med Spa filed Chapter 11 petitions in the Northern District of Georgia.  Click here for information. The cases have been jointly administered with the lead case being Ch. 11 Case No. 08-85038-CRM. Since the initial filing, eight more related entities have filed Chapter 11 petitions, including four more yesterday, February 12, 2009...

Peanut Corporation of America Files Chapter 7 Bankruptcy Petition

Posted on February 13, 2009
Georgia based Peanut Corporation of America, which obviously is facing a long list of problems, filed a Chapter 7 Bankruptcy petition in the Western District of Virginia. From Reuters: NEW YORK (Reuters) - Peanut Corporation of America sought bankruptcy protection on Friday after a salmonella outbreak traced to one of its plants led to one of the biggest product recalls in U...

Article Discusses Chapter 11 Case Of Real Estate Exchange Services, Inc.

Posted on February 12, 2009
An article in the Atlanta Journal discusses the recent Chapter 11 filing of Real Estate Exchange Services, Inc., Ch. 11 Case No. 08-85871-pwb (filed December 17, 2008).  Since the initial filing, Jeffrey K. Kerr, CPA has been appointed Chapter 11 Trustee in the case...

Sixth Annual Emory Law School Bankruptcy Developments Journal Symposium

Posted on February 11, 2009
The Emory Law School Bankruptcy Developments Journal will host its Sixth Annual Symposium on March 5, 2009.  Click here for more information (though this page is missing the actual date of the seminar) and to register online. The agenda is - 8:50 am - 9:20 am Presentation The Recession and Economic Bailout       Speaker:       Professor Frederick Tung, Emory University School of Law 9:20 am – 10:50 am Panel Discussion “Hot Topics in Retail Bankruptcy”:  The Business Bankruptcy Panel       Featured Panelists:       Brett Berlin                 Jones Day       Robert LeHane            Kelly Drye & Warren LLP       Richard NeJame          Broadpoint Capital, Inc...

Upcoming Seminar - Bankruptcy Law and Litigation

Posted on February 11, 2009
The National Business Institute is sponsoring a seminar on May 13, 2009 on Bankruptcy Law and Litigation (click here for information). I will be speaking on the exciting topic of automatic stay litigation.  Other topics and speakers are: GETTING STARTED WITH YOUR BANKRUPTCY CASE 9:00 - 10:00, Paul Burke O'Hearn  INTRODUCTION TO THE BANKRUPTCY CODE AND RULES 10:15 - 11:15, Paul Burke O'Hearn  AUTOMATIC STAY LITIGATION 11:15 - 12:15, Scott B...

S&K Menswear Files Chapter 11 In Virginia

Posted on February 09, 2009
S&K Famous Brands., Inc., doing business as S & K Menswear, filed a Chapter 11 petition today.   The company has stores in Georgia and the Southeast. From Reuters: S & K Famous Brands Inc, which operates men's clothing stores mostly in mid-Atlantic states and the Carolinas, filed for Chapter 11 bankruptcy protection on Monday, hurt by sagging sales and the U...

Chapter 11 Filings In Northern District Of Georgia For January 2009

Posted on February 06, 2009
Here are the Chapter 11 filings in January, through Foreclosure Day, February 2009.     Case No. Related Case Info Ch Party Info Dates 09-10047-whd 11 Middleton Dunn Morehead and Waltraut Caroline Morehead Filed: 01/05/2009 Entered: 01/05/2009 09-20039-reb 11 Habersham Developments, LLC Filed: 01/05/2009 Entered: 01/05/2009 09-60221-pwb 11 Terrance Demond Beasley Filed: 01/05/2009 Entered: 01/05/2009 09-60245-jb 11 Loring Road Venture, Inc...

Seventh Georgia Bank Fails - FirstBank Financial Services Seized By FDIC, Taken Over By Regions Bank

Posted on February 06, 2009
McDonough-based FirstBank Financial Services was seized by the Federal Deposit Insurance Corp. today, and the bank was taken over by Regions Bank.  From the Atlanta Business Chronicle: Walt Moeling, Bryan Cave Powell Goldstein LLP banking attorney and counsel for the bank, said the failure was due to a combination of market forces and over-concentration in residential real estate lending...

Atlanta Based Spectrum Brands Files Chapter 11 In Texas

Posted on February 04, 2009
Spectrum Brands, Inc., the Atlanta-based manufacturer of Ray-o-vac, Remington, Spectracide, Cutter, Repel and other well-known brands, has filed a Chapter 11 petition in the Western District of Texas. Click here for the company's press release: ATLANTA--(BUSINESS WIRE)--Spectrum Brands (PINK SHEETS: SPCB - News) today announced that it has reached agreements with noteholders representing, in the aggregate, approximately 70% of the face value of its outstanding bonds, to pursue a refinancing that, if implemented as proposed, will significantly reduce the Company's outstanding debt and put the Company in a stronger financial position for the future...

Wall Street Journal Launches Bankruptcy Blog

Posted on February 03, 2009
The Wall Street Journal has launched the Bankruptcy Beat, which you can access by clicking here.  This Blog joins other related blogs by the Journal, including the WSJ Law Blog,  The Wallet, a personal finance blog, and Deal Journal. In a recent post, the Bankruptcy Beat  discusses the Chapter 7 case of Georgia School Superintendent Kathy Cox (discussed here and here)...

Financial Planning And Money Management From A Biblical Perspective

Posted on February 03, 2009
For those of you who are interested in what the Bible has to say about personal finances, North Point Community Church and Buckhead Church , and Pastor Andy Stanley, have a current series entitled Balanced.   They have also created a website for more information...

Chapter 7 Trustee Investigates Whether Georgia School Superintendent's Game Show Winnings Are Property Of Bankruptcy Estate

Posted on January 30, 2009
As discussed in this prior post, Georgia School Superintendent Kathy Cox and her husband filed a Chapter 7 Bankruptcy petition in the Newnan Division of the Northern District of Georgia. In re John Hamilton Cox, Jr. and Kathryn Burgess Cox, Ch. 7 Case No...

Lawyers Can Now Take Camera Phones In Federal Courthouses In Northern District Of Georgia

Posted on January 28, 2009
The options for phones and Blackberries has expanded for lawyers in the Northern District.  The ban on camera phones has been lifted.  Getting the new iPhone is not completely pain free, however, because lawyers must be admitted to the Bar of the Northern District and get an ID card...

Wanted: Two New Bankruptcy Judges For The Northern District Of Georgia

Posted on January 21, 2009
The Atlanta Business Chronicle has an article discussing the need for two additional Bankruptcy Judges in the Northern District of Georgia - For the second year in a row, bankruptcies jumped more than 20 percent in 2008. Filings climbed to 39,214, up 25 percent over 2007...

Circuit City Decides To Liquidate And Close All Stores; Future Not Bright For Other Retailers

Posted on January 18, 2009
Circuit City, which filed Chapter 11 in November 2008 and closed several stores, gave up the fight this week and announced it would liquidate and close.   It could not find a lender or buyer and had no choice. This will be a common theme according to the Washington Post article: With the economy in the tank, companies are doing all they can to stay afloat...

Nortel Networks FIles Chapter 11 In Delaware

Posted on January 14, 2009
From Reuters:  Nortel Networks, the maker of telephone equipment, filed for bankruptcy protection on Wednesday, a day before it was scheduled to make an interest payment of about $107 million. Nortel and a number of its affiliates filed for Chapter 11 bankruptcy protection in federal bankruptcy court in Delaware...

Goody's, Already Liquidating, Files Chapter 11 Again

Posted on January 14, 2009
Discount Clothing Retailer Goody's Family Clothing decided last week to liquidate and close its remaining stores, after emerging from Chapter 11 only a few months earlier.  Now it has filed Chapter 11 again. From Reuters - Goody's LLC, a privately held family apparel retailer that emerged from bankruptcy in October, has filed for Chapter 11 protection again, and said it plans to liquidate its remaining 282 stores...

Record Number Of Atlanta Foreclosures Scheduled For February 2009

Posted on January 13, 2009
According to the AJC article, Equity Depot reports that a record number of foreclosures are scheduled for February 2009. In the 13 counties Equity Depot tracks, 8,425 properties are scheduled to be auctioned Feb. 3. The previous high was 7,967 properties from last September...

Shane Company, A Jewelry Retailer With Atlanta Area Locations, Files Chapter 11 - Most Creditors Are Customers

Posted on January 12, 2009
Shane Company, a jewelry retailer with four locations around Atlanta according to its website, filed a Chapter 11 petition in the U.S. Bankruptcy Court for the District of Colorado.  Chapter 11 Case No. 09-10367.   Hear the announcement from Tom Shane himself...

Wall Street Journal - Carl Icahn Believes Exclusivity Period In Bankruptcy Thwarts Recovery

Posted on January 11, 2009
Carl C. Icahn has an article in the Wall Street Journal entitled Bankruptcy Rules Thwart the Recovery.  Here are a few excerpts - The epic financial crisis afflicting the banking industry over the past 18 months is largely the result of cratering loan and other asset values stuck on bank balance sheets...

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