Category Archives: Business Bankruptcy

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No Recovery for Employees in Bankruptcy Case

The decision in a bankruptcy case has the potential to upset the procedure of ranking lenders, employees and other creditors in order of priority while they attempt to recoup their funds after a company undergoes a bankruptcy filing. The decision could have an impact on the amount of influence that bankruptcy courts possess in allowing……
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Hulk Hogan Argues against Gawker’s Bankruptcy Shield for Company CEO

The bankruptcy proceedings involving online media purveyor Gawker Media took an interesting turn recently when one of the company’s creditors objected that the Chapter 11 bankruptcy was being improperly used as a shield from personal liability by the Gawker CEO. The creditor who raised the objection is none other than Hulk Hogan, the former professional……
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What Goes Down, Must Go Up! The Impact of the Lehman Crisis- Then & Now

Six years ago this month, financial services firm Lehman Brothers filed the single largest bankruptcy filing in U.S. history. Lehman held over $600 billion in assets at the time of the Chapter 11 filing, and the company’s bankruptcy resulted in a significant drop in the stock market. Analysts consider the Lehman Brothers bankruptcy to be……
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NJ Business and Personal Bankruptcies Down in 2014

The early trend during the first half of 2014 is a positive one for the Garden State. According to figures revealed by the U.S. District Bankruptcy Court in Newark, business bankruptcy filings are down about 15 percent and personal cases are down approximately six percent, compared to last year at this time. Overall, the number……
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Large New Jersey Trucking Company Files for Bankruptcy

New Century Transportation, the NJ-based trucking company announced that it plans to shut down and file for Chapter 7 bankruptcy liquidation. In a June 9 letter written to its employees, New Century Transportation wrote that the decision came after its lender “unexpectedly declined to continue funding on a regular basis.” This decision prompted them to……
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