New here? Start with these articles to learn about US bankruptcy, debtor bankruptcy
alternatives like debt consolidation, debt settlement, debt negotiation, and debt management.
You'll also learn the causes of debts that can lead you to file bankruptcy and how to recover
from it.
Circuit City Stores Inc, the No. 2 U.S. consumer electronics retailer, filed for bankruptcy protection on Monday just a few weeks before the start of the key holiday shopping season, becoming the largest retailer to file under Chapter 11 this year. Circuit City fell victim to tighter credit terms from vendors and a loss of market share to Best Buy Co, Wal-Mart Stores Inc and other rivals.
Country singer Lorrie Morgan has filed for bankruptcy for primarily business related debts, according to a court filing. Morgan filed for Chapter 7 bankruptcy in federal court, listing her estimated liabilities between $1 million to $10 million. The bankruptcy filing showed her with assets of $500,000 to $1 million.
Motorola, Inc. today announced that on May 20, 2008, Judge James M. Peck approved a global settlement of disputes in the Iridium bankruptcy cases pending in the United States Bankruptcy Court for the Southern District of New York. Approval of this settlement resolves in Motorola’s favor, at no out of pocket cost to the Company, all pending claims against the Company arising out of Iridium’s bankruptcy proceedings.
U.S. auto manufacturers are facing more pressure from import manufacturers every year. They have already been feeling the heat from Nissan, Toyota and Honda, but now with Hyundai taking a larger chunk of the middle and lower range cars, SUV’s and trucks this may be the start of the end of the likes of Ford and G.M. Ford has already announced a restructuring and a projected cut of 30,000+ jobs.
