Chapter 7 news for Thursday, June 18
Here are a few of the interesting articles I found around the web relating to Chapter 7 bankruptcy filings:
- A Janesville, Wisconsin city councilman filed for Chapter 7. That a small town city councilman filed for bankruptcy isn’t as interesting as the commentary. Read more here.
- In a David v. Goliath story, two small bondholders (one of whom filed Chapter 7 a number of years ago), are suing General Motors over its own Chapter 11 filing. Read more here.
- In an apparently dramatic last minute courtroom drama, SCO (who I mentioned yesterday), was saved from liquidation through a forced conversion from Chapter 11 to Chapter 7 when a white knight investor appeared in court. Read more here.
- In more Midwest news, it appears that a regional automobile dealer is in a bit of hot water over some sales booked but not delivered as well as some unpaid sales tax bills. These usually get a special Schedule on a bankruptcy filing! Read more here.
- Speaking of hot water, a Utah attorney filed for Chapter 7 protection a little while ago. His unpaid creditors, however, look to be the least of his problems. Read more here.
