AFA Foods, Inc., a leading ground beef processing company out of Pennsylvania, filed chapter 11 bankruptcy in Delaware on April 2, 2012. Its bankruptcy case is consolidated in Case No. 12-11127, which includes the cases of its affiliates. AFA is among the largest ground beef processing enterprises in the United States, processing more than 500 […]
Read MoreOn March 7, 2012, Cano Petroleum, a Forth Worth–based, independent oil and gas company filed chapter 11 bankruptcy in Dallas. The Company announced that the cause was its continued losses and loan defaults, rendering it unable to raise capital and thereby creating a liquidity problem. Cano lists assets of $63.3 million and approximately $116.3 million […]
Read MoreConnecticut–based Maclaren USA, which produced the Maclaren-line of baby strollers, at one time, saw its fair share of the toddler-toting industry. After a list of babies losing their fingers and related suits had accumulated, however, a mass recall of strollers was launched in 2009. Eventually, the once-trendy company had no choice but to seek bankruptcy […]
Read MoreOn October 31, 2011, MF Global Holdings Ltd. filed the eigth largest chapter 11 bankruptcy in U.S. History. MF Global, Inc. was the broker-dealer unit of MF Global Holdings, Ltd. and, by law, could not legally file for bankruptcy or even be included in the bankruptcy of its parent. As a result, Securities Protection and Investment Corp. (SIPC) moved […]
Read MoreThe 4th quarter of 2011 was the quarter of massive bankruptcies. A variety of economic pressures, such as decreased demand, the impact of rising commodity prices, and concern over the Euro zone contagion, became too much for even some of the biggest American companies to survive. On October 31st, MF Global led the onslaught of […]
Read MoreThree years after the collapse of Lehman Brothers started a tidal wave of bankruptcies, corporate filings have been down. But, there is reason to believe that corporate bankruptcies may pick up again, with some big name companies struggling or having recently filed. We have recently heard rumblings from some big names. What we have heard is that […]
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