Holiday events in Houston

Posted on December 23rd, 2011 No Comments

Galveston business bankruptcy lawyers of Gipson, Norman & Root are excited to announce holiday events happening this week for Christmas…

Houston Ballet presents “The Nutcracker” running through Dec 27.  Hurry up and get your tickets for the whole family to see the story of young Clara and her trip through the Land of Snow and Kingdom of Sweets in the world’s most famous ballet.  Wortham Theater Center, 501 Texas, Houston.  For information and to purchase tickets, visit the Houston Ballet website.

Visit Downtown Houston to see the shops lit up for the holidays, go ice skating at Discovery Green, or catch the famous tale of Ebenezer Scrooge in “A Christmas Carol” at the Alley Theatre.  Discovery Green is open for skating through Jan 22.  Tickets are $10 plus tax, including skate rental. Visit DiscoveryGreen.com for more details.

 

 

First ever Galveston Restaurant Week

Posted on December 12th, 2011 No Comments

Galveston bankruptcy lawyers of Gipson, Norman & Root are excited to introduce The Pint Jockeys, an organization for beer connoisseurs to create awareness about craft beer in the Galveston, Victoria, and Beaumont areas.

This coming Thursday, December 15, a free tasting event will be held at the Del Papa Distribution on 6702 Broadway.  The event will feature beers from Magic Hat, Pyramid, Rahr & Sons, Leffe and more.

From January 15 to January 21, the first annual Galveston Restaurant Week will take place.  A wide array of restaurants will participate with costs of meals ranging from $10-40.  For more information, visit the event’s website.

Central Texas construction company announces mass layoffs

Posted on December 9th, 2011 No Comments

Central Texas Leander-based J.C. Evans Construction Co. Inc. announced on Monday that it plans to lay off about 300 workers since filing for bankruptcy protection.

J.C. Evans Construction filed for Chapter 11 bankruptcy protection on August 1, and a lawyer representing the company sent a letter to the Texas Workforce Commission announcing its planned layoffs.

Worker Adjustment and Retraining Notification Act, or WARN, protects workers and requires advanced notice from companies such as J.C. Evans should they plan closings or mass layoffs.

If you are considering bankruptcy, it is important to have experienced representation to discuss your legal options. Contact Galveston bankruptcy attorneys of Gipson, Norman & Root at 281-332-4800.

Moody Gardens Festival of Lights starts off the holiday season

Posted on December 2nd, 2011 No Comments

Galveston bankruptcy lawyers of Gipson, Norman & Root are happy to announce that the Moody Gardens Festival of Lights have begun.

This exciting holiday event draws almost 85,000 visitors each year, and the festival includes a mile-long trail of lights, musical entertainment, ice skating, and winter wonderland festival with real snow on Saturdays.

The event runs Thursday-Saturday 6-10pm through Dec 10, and daily Dec 14-Jan 1. Admission is $5.95. Ice skating, Snow Zone, and screenings of Polar Express 4D require an additional fee.  The Festival of Lights also has a new attraction this year called the Home for the Holidays Gift Market.

For more information on Moody Gardens Festival of Lights, visit www.moodygardens.org

Rafael Palmeiro asks for extension on property sale

Posted on October 26th, 2011 No Comments

Last week, former Texas Rangers player Rafael Palmeiro asked for more time to sell a property involved in his real estate bankruptcy filing.

The former professional baseball player asked creditors for five years to sell a 200-acre property located in Grapevine, Texas near the Grapevine Mills mall.

Palmeiro and partners purchased the property with an intent to develop it.  Unfortunately, their plans fell through and they chose to file for bankruptcy.

Creditors in the bankruptcy are owed a total of more than $40 million.

If you or someone you know has questions about filing for bankruptcy in Galveston, contact the Galveston bankruptcy attorneys of Gipson, Norman & Root by calling 281-332-4800 today.

Washington Mutual plans to exit bankruptcy

Posted on March 23rd, 2011 No Comments

On Monday, Washington Mutual Inc. was approved by a court to move on to the next step to exiting bankruptcy protection.  Washington Mutual went into chapter 11 bankruptcy protection in September 2008.

Judge Mary Walrath agreed to let Washington Mutual executives present a revised exit plan to their creditors if they add an explanation of what they would do if investigators find proof of insider trading to the plan.  If shareholders find evidence that some big investors profited from insider knowledge, sources say that about $700 million could shift into the hands of smaller creditors.

The main investors being investigated for insider trading are Owl Creek Asset Management LP, Appaloosa Management LP, Centerbridge Partners LP, and Aurelius Capital Management LP.

To discuss your options for filing for bankruptcy in Galveston, contact the experienced Galveston bankruptcy lawyers of Gipson and Norman at 281-332-4800 today.

Rep. Hinojosa files for bankruptcy

Posted on February 7th, 2011 No Comments

U.S. Representative Ruben Hinojosa  filed for bankruptcy protection in December after his family’s meat company in Mercedes, Texas had been suffering financially.  Hinojosa serves on the House Financial Services Committee and graduated from The University of Texas in Austin with a degree in business administration.

According to court documents, Hinojosa listed $2.9 million in liabilities and $1.5 million in assets.  $2.6 million of his liabilities are said to be owed to Wells Fargo Bank for a loan he took out for H&H Meat Products Co..  Hinojosa says that while he was not managing the company for the past 14 years, he still had personal obligations to the company because of a line of credit.

Hinojosa told reporters that filing for bankruptcy will allow him to schedule a repayment plan to cover his debts.  In addition, he noted that he will try to repay creditors and exit bankruptcy as soon as possible.

If you or someone you know is considering filing for consumer or commercial bankruptcy, contact the Galveston bankruptcy attorneys of Gipson, Norman & Root at 281-332-4800 to learn more about the benefits of filing for bankruptcy in Texas.

Federal government will not help bankrupt states

Posted on January 25th, 2011 No Comments

Monday, the House Majority leader, Eric Cantor, reported that the federal government is not willing to bail out states that are struggling financially and considering bankruptcy.  He also noted that he does not agree with the proposal that states should be allowed to declare bankruptcy to fix their economy.

The issue arose earlier this month with Texas Senator John Cornyn asked about the possibility of a state filing for bankruptcy at a Senate hearing.  Leaders in Congress and federal officials, including Federal Reserve Chairman Ben Bernanke, would not commit to allowing or not allowing state bankruptcies.

A spokesperson for Senator Cornyn later said that “bailing a state out is not an option”.

Contact the Galveston chapter 7 bankruptcy attorneys of Gipson, Norman & Root at 281-332-4800 today, to learn more about filing for Chapter 7 bankruptcy in Texas.

Blockbuster granted deadline extensions in bankruptcy

Posted on January 18th, 2011 No Comments

Today, Blockbuster Inc. lenders approved two deadline extensions for the movie rental company.  Blockbuster entered Chapter 11 bankruptcy in September and has expressed hopes of exiting bankruptcy sometime this year.

Lenders Monarch Alternative Capital LP and Carl Icahn approved extensions for Blockbuster to chose a CEO and turn in a reorganization plan.  Blockbuster is now expected to turn in their business reorganization plan to lenders by February 4th and to the U.S. Bankruptcy Court in New York by February 11th.  Executives at Blockbuster have stated that they expect the current CEO, Jim Keyes, to remain at his position through the bankruptcy process.

To discuss filing for Chapter 11 bankruptcy in Galveston with a compassionate  and experienced bankruptcy attorney, contact the Galveston chapter 11 bankruptcy attorneys of Gipson, Norman & Root at 281-332-4800 to set up an appointment.

South Central Texas bankruptcy filings down in 2010

Posted on January 5th, 2011 No Comments

After a steep increase in the number of bankruptcy filings in 2009, South Central Texas saw a small decrease in 2010.  According to the U.S. Bankruptcy Court for the Western District of Texas located in San Antonio, the number of bankruptcy filings dropped by 2 percent in 2010.

In 2009, 5,106 bankruptcies were filed at the U.S. Bankruptcy Court for the Western District of Texas.  In 2010, 4,997 bankruptcies were filed.  The number of Chapter 7 commercial liquidation bankruptcy filings in San Antoino totaled 46 in both 2009 and 2010.  However, Chapter 11 commercial reorganization bankruptcies dropped from 90 filings in 2009 to 70 in 2010.  From 2005 to 2008, Chapter 11 bankruptcies in South Central Texas stayed in the low 20′s.

If you or someone you know would like to talk with an experienced bankruptcy attorney about how filing for commercial bankruptcy can help your business, contact the Galveston bankruptcy lawyers of Gipson, Norman & Root at 281-332-4800 today.

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Jeffrey P. Norman (retired) is Board Certified-Consumer Bankruptcy Law by the Texas Board of Legal Specialization and is Board Certified-Consumer Bankruptcy Law by the American Board of Certification. Ronald M. Gipson(1943-2008) is Board Certified-Consumer Bankruptcy Law by the Texas Board of Legal Specialization.
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