Category: Bankruptcy

Famous Corporate Bankruptcies Part 3

Refco Three months after going public, Refco filed for chapter 11 bankruptcy protection. The New York based financial Services company’s financial downfall was attributed to a wide scale financial fraud involving Refco’s CEO and chairman, Phillip Bennett. Bennett hid over $430 million in bad debt. At the time of filing for bankruptcy protection, Refco’s assets […]

Famous Corporate Bankruptcies Part 2

Delta Airlines The nation’s third largest airline suffered a major blow after the spike in fuel prices following hurricane Katrina. This added to the airlines financial difficulties after failing to achieve a profitable quarter since 2000. With high labor costs and the competition among low-fare growing, Delta decided to file for bankruptcy. Years after bankruptcy, […]

Famous Corporate Bankruptcies Part 1

Chapter 11 Bankruptcy is reorganization bankruptcy. This type of bankruptcy is used in bankruptcy cases involving large corporations and businesses. In this 4-part blog post we will look at some of the most influential and high-profile Chapter 11 bankruptcy cases of the last decade.  Pacific Gas & Electric Co. In April 2001, Pacific Gas & […]

BP Clothing Files for Bankruptcy

BP Clothing, the former Baby Phat apparel line licensee has filed for chapter 11 bankruptcy protection. The Los Angeles apparel company, which is located in Commerce California, held the license to produce the celebrity endorsed Baby Phat clothing line for stores such as; Walmart, and JcPenny until recently. Scott London, Steven Feiner, and investment company […]

Los Angeles Bankruptcy Attorney

Like many other lawyers in the Los Angeles California area, a great deal of my clients are filing for bankruptcy. Bankruptcy filings are on the rise, not only in Los Angeles, but all over the U.S. Every day in Los Angeles new businesses are formed. Unfortunately, in our current economical climate, many businesses are also […]

American Airlines AMR Bankrupcty

The parent company of American Airlines and American Eagle, has filed for Chapter 11 bankruptcy in New York. American Airlines, the nation’s third largest carrier, cited high labor costs, surging fuel prices, and a volatile economy as their reasons for filing bankruptcy. AMR, which employs 88,000 people, is hoping to restructure their debts with their […]