Regal Jets, LLC, a plane chartering company based out of Dallas, has recently filed for Chapter 11 bankruptcy protection. They listed fewer than 100 creditors in their filing.
The Wednesday filing also listed assets between $10-50 million and debts between $100-500 million. More information was not made readily available.
If you are considering filing for bankruptcy, contact the Galveston bankruptcy attorneys of Gipson, Norman & Root at 409-765-6000.
Pilgrim's Pride, the nation's largest chicken producer, has filed for Chapter 11 bankruptcy. Through this bankruptcy, the company has been forced to make layoffs and end contracts with some of their chicken grower suppliers.
Now, many of those suppliers are saying that they were discriminated against by the company. According to the suppliers, Pilgrim's Pride dropped their contracts because they were Hispanic or disgruntled. The judge will hear the case on March 10.
Bankruptcy can have many consequences, but is sometimes necessary. If you are planning on filing for bankruptcy, contact the Galveston bankruptcy attorneys of Gipson, Norman & Root at 409-765-6000.
Ritz Camera Centers Inc has filed for Chapter 11 bankruptcy protection. They have blamed both the recession and the increasing reliance of consumers on digital media.
The company has assets and debts both totalling less than $500 million. The loss of profits from photo finishing has been a great drain on the company and industry.
Bankruptcy can become unavoidable. If you are considering bankruptcy, contact the Galveston bankruptcy attorneys of Gipson, Norman & Root at 409-765-6000.
Homebuilder John Laing Homes has recently filed for Chapter 11 bankruptcy with somewhere between $500 million and $1 billion in debt.
The company was valued at $1.3 billion on November 30 last year. At the time they had $977 million in debts. Their revenue has fallen since 2007 from $948 million to $248 million.
Bankruptcy can creep up on you until it finally becomes a necessity. If you are considering bankruptcy, contact the Galveston bankruptcy attorneys of Gipson, Norman & Root at 409-765-6000.
In the wake of the peanut butter recall by Peanut Corp of America, all of the companies that are supplied by Peanut Corp must recall their peanut based products.
For Forward Foods, this means a recall of about 75% of all products. For this reason, Forward Foods is currently seeking bankruptcy protection under Chapter 11 while Peanut Corp faces criminal charges of negligence.
The causes of bankruptcy can sometimes sneak up on you. If you are considering filing for bankruptcy, contact the Galveston bankruptcy attorneys of Gipson, Norman & Root at 409-765-6000.
Peanut Corp of America has filed for Chapter 7 bankruptcy in the wake of the salmonella outbreak that they caused. The company has had to recall all of its products because of the outbreak.
In addition to the recall, the company has been suspended by the US Department of Agriculture. This has rendered them virtually incapable of doing business. Because of this, they are trying to liquidate and pay off their debts through Chapter 7.
Sometimes, bankruptcy is the only option left. If you are considering filing for bankruptcy, contact the Galveston bankruptcy attorneys of Gipson, Norman & Root at 409-765-6000.
Video game maker, Midway Games, has had to file for Chapter 11 bankruptcy. While the company expects to get through the bankruptcy and continue to operate at a normal level, they have had some losses.
In order to cut costs and alleviate debt, the company had to lay off 25% of staff and completely shut down operations at its Austin, TX office. It has also suspended some of its projects for the time being.
Bankruptcy is sometimes necessary but never easy. If you are considering filing for bankruptcy, contact the Galveston bankruptcy attorneys of Gipson, Norman & Root at 409-765-6000.
Texas bankruptcy laws allow filers to keep many things that they might not be able to in other states. Things such as luxury cars, jewelry and retirement funds can be held on to in Texas where they would have to be given up in other states.
Because of this, out of staters are being attracted to Texas simply for bankruptcy. These people can abandon their houses, send the keys back to the lenders and file bankruptcy, allowing them to keep many of their things. However, this also greatly increases the bankruptcy filing rate in Texas.
In some cases, people file for convenience. However, bankruptcy can be a necessity. If you are considering filing for bankruptcy, contact the Galveston bankruptcy attorneys of Gipson, Norman & Root at 409-765-6000.
The Dutch chemical company, LyondellBasell, has recently filed for Chapter 11 bankruptcy. Unfortunately, this could affect a great deal more than just the company itself. The community and schools that surround it are somewhat reliant on some of its payments.
Because the company is under bankruptcy protection, they do not have to pay back certain debts for the time being. This could end up hurting funding for the schools that rely on the company in addition to causing a large number of layoffs.
Bankruptcy can have extensive consequences, but it is sometimes necessary. If you are considering filing for bankruptcy, contact the Galveston bankruptcy attorneys of Gipson, Norman & Root at 409-765-6000.
Interstate Bakeries, the makers of Twinkies, Ding Dongs, Wonder Bread and other such products, has recently added bankruptcy to the list of things it has survived. Before this, the Great Depression and diet fads topped the list.
Interstate Bakeries filed for bankruptcy protection back in 2004, and has been fighting through the bankruptcy since. Now they are back on their feet and still making Twinkies.
While bankruptcy is certainly difficult, it can have a good outcome. If you are considering filing for bankruptcy, contact the Galveston bankruptcy attorneys of Gipson, Norman & Root at 409-765-6000.
