Have you noticed the commercial centers near you growing a little quieter lately?  If so, you’re not alone.  Commercial real estate nationwide has taken a beating that has many experts fearing the worse.  Vacancy rates have soared while rents have hit rock bottom. And many property owners are struggling to avoid foreclosure. Some have even [...]

After filing Chapter 11 bankruptcy on Sunday, CIT Group is hoping that it will fair better than previous financial companies who have filed bankruptcy.  According to an article in the Star-Telegram, most financial companies who file for bankruptcy are usually liquidated or sold.
The article said:
“But the real test will come from CIT customers, who could [...]

According to an article in the Business Journal, Super 88 LLC, an operator of Asian supermarkets filed for Chapter 11 bankruptcy on Monday after a deal to sell the chain was derailed by two other parties claiming to have deals to buy individual stores. Because the deal to sale the company did not go forward, [...]

According to an article in the Star-Telegram, FairPoint Communications filed for Chapter 11 bankruptcy protection Monday after agreeing to a debt reduction deal with its creditors that will lower its debt by 62 percent.  FairPoint, owns and operates phone companies in 18 states with a total of 1.65 million lines. The company has been struggling [...]

If your employer files for bankruptcy your retirement plan could be at risk.  Here’s what you need to know:

If your employer files Chapter 7 bankruptcy, which is a total liquidation, your pension plan will be automatically terminated.
Pension plans which are terminated in Chapter 7 [...]

According to an article in the Star-Telegram, the Erickson Retirement Communities have filed for Chapter 11 bankruptcy and has agreed to be purchased by Redwood Capital Investments LLC.
The article said:
“Erickson spokesman Mel Tansill says the bankruptcy filing in Dallas and the agreement with Redwood took place on Monday. He says Erickson must restructure its debt [...]

According to an article in the Star-Telegram, CIT Group Inc., is asking bondholders to approve a prepackaged reorganization plan in case it is forced to file for Chapter 11 bankruptcy protection.
The article said.
“The troubled New York-based lender had launched the restructuring effort Oct. 1 with the hope that it will trim at least $5.7 billion [...]

According to an article in the Dallas Morning News, Southwest Airlines Co. has reported a loss of $16 million in the past three months. Southwest CEO, Gary Kelly cited special items such as employee reductions and fuel hedging as the cause of their financial losses.
The article said:
“The results included $66 million for the costs [...]

According to an article in the Dallas Morning News, Idearc, Inc. bondholder (MatlinPatterson Global Opportunity Partners) is challenging the viability of the company’s bankruptcy exit plan and is asking the bankruptcy court to strip control of the bankruptcy case from the publisher.
The article:
“Idearc’s proposed bankruptcy exit plan is based on an agreement it struck with [...]

According to an article in the Wall Street Journal, revenues received by heirs of the Howard Hughes estate are caught in bankruptcy limbo because land that generates profits for the heirs is entangled in the General Growth Chapter 11 bankruptcy. When Hughes died in 1976, he was childless and without a will so his estate [...]

Earlier this week we discussed the Erickson Chapter 11 bankruptcy filing; but an article in the Wall Street Journal has revealed a lot of the sordid details of what took place before the bankruptcy filing. Apparently Erickson felt forced into bankruptcy because of strong-arm tactics being used by their creditors that threatened the health and [...]

According to an article in the Business Journal, True Temper Sports Inc. has filed for Chapter 11 bankruptcy protection.  The company is filing a pre-packaged bankruptcy petition with the approval of its secured lenders, bondholders and shareholders.
The article said:
“The filing is considered to be “a mechanism to implement the agreed upon balance sheet restructuring, and [...]