Retailer Pacific Sunwear of California Inc. has been approved to exit bankruptcy after cutting down its debt, closing a number of stores across the nation, and convincing landlords to decrease its rent at the malls where the teen-focused clothing-chain does business.
Alexander Papakyriakou, a 62-year-old real estate developer in Arizona, was recently sentenced to two years in prison for submitting false statements in his bankruptcy petition.
Gawker Media, which filed for Chapter 11 bankruptcy protection at the beginning of the summer, has been bough by Univision for an estimated $135 million.
When a major retailer falters in bankruptcy, what does that mean for the brands it once used to carry? It seems that sportswear line Under Armour is about to find out.
Debtors will often go to the extreme in order to clear their names of debt. This often means committing bankruptcy fraud in an attempt to clear debt, or make money.
Gawker Media recently filed for Chapter 11 bankruptcy protection as a result of being ordered to pay roughly $140 million to Hulk Hogan.
Currently, student loan debt cannot be discharged in bankruptcy. But a lawyer in St. Cloud, Minnesota is working to make that no longer the case.