Articles Posted in Chapter 11

Verity Health Systems Files California Bankruptcy
Liviakis Law Firm Team

Verity Health Systems, a nonprofit healthcare system which operates four San Francisco Bay Area hospitals, filed for bankruptcy protection last week, as it explores strategic options to eliminate burdensome debt. The organization has been weighing the possibility of selling its Santa Clara County hospitals to relieve the financial pressure of $500 million in long-term debt,…

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Global Brokerage’s Chapter 11 Bankruptcy Plan Challenged
Liviakis Law Firm Team

The US Trustee assigned to the Chapter 11 Bankruptcy protection case for Global Brokerage Inc. raised concerns this week about the exchange broker’s bankruptcy reorganization plan. Global Brokerage Inc., is a holding company with indirect effective ownership of Forex Capital Markets (FXCM), which is a retail foreign exchange broker. The company filed a voluntary petition…

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Gymboree to Exit Chapter 11 Bankruptcy
Liviakis Law Firm Team

The San Francisco, California based children’s apparel store, Gymboree, was approved to exit Chapter 11 bankruptcy on September 7th, 2017. The company plans to cut $1 billion worth of debt and joins the list of retailers such as Payless Shoes that have been able to successfully reorganize company debt using Chapter 11 bankruptcy protection. In…

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Automatic Stay Prevents Lawsuits Against Detroit
Liviakis Law Firm Team

Last Wednesday, the bankruptcy judge overseeing the Detroit bankruptcy case put a hold on all lawsuits that were challenging Detroit’s bankruptcy filing, as well as most other litigation against Detroit. However, this does not mean an end to Detroit’s legal troubles. The bankruptcy judge pointed out that his ruling did not decide whether Detroit could…

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ResCap files Its Chapter 11 Plan
Liviakis Law Firm Team

Running a business can be great. However, it is always possible for a business to fall into hard times, and when it does, it can be difficult to recover. One option for businesses that are in financial trouble is chapter 11 bankruptcy. Residential Capital LLC (ResCap) filed for bankruptcy protection on May 14, 2012. ResCap…

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Protections Are Available for Struggling Businesses
Liviakis Law Firm Team

Chapter 11 is a form of business bankruptcy. It is a way for struggling businesses to restructure their debt and potentially continue to operate. It also protects companies from creditor actions against the company. Recently, a palm tree farmer, Cocopah Nurseries Inc., filed for Chapter 11 bankruptcy. This filing followed an attempt to restructure the…

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