The bankruptcy hearing for annuity and life policy purchaser JG Wentworth is set for Monday, June 1. The company filed for Chapter 11 bankruptcy protection on Tuesday.
Subsidiaries of JG Wentworth are continuing to operate unaffected. The hearing should allow for a $100 million injection of new equity to support operations.
If you are considering bankruptcy, contact the Galveston bankruptcy attorneys of Gipson & Norman at 409-765-6000.
TXCO Resources Inc has filed for Chapter 11 bankruptcy protection as of Monday. The San Antonio company has said that energy prices and the tightened credit market were large factors in the filing.
The company's interests lie in the Maverick Basin, the Gulf Coast on shore, the Marfa Basin and Oklahoma's Midcontinent region. However, they have been having a great deal of difficulty raising money, leading to the bankruptcy.
If you are considering bankruptcy, contact the Galveston bankruptcy attorneys of Gipson & Norman at 409-765-6000.
Hayes Lemmerz, a wheel maker whose major customers include GM, Ford and Renault-Nissan, filed for Chapter 11 bankruptcy protection on Monday. The company recently saw its shares fall to 14 cents each.
The company has cited cuts in auto production as well as tightened credit as reasons for the filing. The company hopes to exit the bankruptcy stronger and more competitive.
If you are considering bankruptcy, contact the Galveston bankruptcy attorneys of Gipson & Norman at 409-765-6000.
Hill Country Galleria, LP has filed for Chapter 11 bankruptcy as of Monday night. The Hill Country Galleria project entered foreclosure auction at noon on Tuesday.
The Galleria, which opened in October of 2007, cost over $192 million to develop. It is currently 70% leased, but has not brought in enough money to avoid bankruptcy because of the foreclosure schedule and the complexity of the construction loan the company took out.
If you are considering bankruptcy, contact the Galveston bankruptcy attorneys of Gipson & Norman at 409-765-6000.
Energy Partners Ltd announced on Friday that they had filed for Chapter 11 bankruptcy protection. They have also come to an agreement with their senior noteholders that should significantly cut their debt.
The company has listed $770.4 million in assets and $708.4 million in debts. Their largest unsecured creditor, K2 and Associates Investment Management Inc, is owed $48.9 million.
If you are considering bankruptcy, contact the Galveston bankruptcy attorneys of Gipson & Norman at 409-765-6000.
