3 days ago by admin

A deal between U.S. regulators and J.P. Morgan Securities was meant to settle the case over Jefferson County. However, according to experts, the deal will probably not save the county from bankruptcy. The county has been unable to make sufficient revenue to pay off creditors. The deal will net about ...

Birmingham Bankruptcy Lawyer - greenwaylaw.com

25 days ago by admin

Given the high number of people filing for Chapter 7, the Bush administration passed the Bankruptcy Abuse Prevention and Consumer Protection Act in 2005. The act required people filing for Chapter 7 to pass the “means test.” The means test measures whether a debtor can pay off some or all of his deb ...

Birmingham Bankruptcy Lawyer - greenwaylaw.com

33 days ago by admin

When borrowers amass huge amounts of debt and are unable to repay some or all of it, lenders have alternative means for recovering debt payments. One way is through wage garnishments. Through wage garnishments, creditors recover debt by taking money from a borrower’s paycheck before it is issued to ...

Birmingham Bankruptcy Lawyer - greenwaylaw.com

40 days ago by admin

Santa Fe Cattle Co. closed three of its restaurants recently, including one in Tuscaloosa. The restaurant chain, which is known for its Southwestern food, filed for Chapter 11 bankruptcy in July. The plan to close some of its restaurants is part of the company’s bankruptcy reorganization. According ...

Birmingham Bankruptcy Lawyer - greenwaylaw.com

54 days ago by admin

Dixie Pellets filed for Chapter 11 bankruptcy earlier this week. The alternative fuel plant in Selma laid off employees earlier this month and cited more than $100 million in debts, according to the bankruptcy filing. The plan is an affiliate of Harbert Management Corp., and the Harbert Power Fund I ...

Birmingham Bankruptcy Lawyer - greenwaylaw.com

60 days ago by admin

Jefferson County may file for bankruptcy soon. According to County Commission President Bettye Fine Collins, the county is facing the prospect of being unable to pay a $105 million bond payment due Sept. 15. Along with the bond payment, the county also may be unable to repay $22 million in occupatio ...

Birmingham Bankruptcy Lawyer - greenwaylaw.com

66 days ago by admin

Montgomery based Bluewater Broadcasting has filed for Chapter 11 bankruptcy protection. The filing followed Landmark Bank calling for immediate repayment of its $4.5 million loan to the company. In its filing, the company listed $10 million in debts. It will continue to operate its five radio statio ...

Birmingham Bankruptcy Lawyer - greenwaylaw.com

73 days ago by admin

Montgomery based Colonial BancGroup Inc has filed for Chapter 11 bankruptcy protection just 11 days after being taken over by BB&T Corp. The filing listed assets of $45 million and liabilities of $380 million. The company’s two largest creditors are the Bank of New York Trust Co NA and the Bank of N ...

Birmingham Bankruptcy Lawyer - greenwaylaw.com

82 days ago by admin

Bankruptcies for the second quarter of the year rose from the same period of last year and from the first quarter of this year. In total, there were 381,073 bankruptcy filings by both consumers and businesses throughout the nation. The second quarter filings were a 15% increase from first quarter fi ...

Birmingham Bankruptcy Lawyer - greenwaylaw.com

89 days ago by admin

July showed a large spike in consumer bankruptcy filings all across the nation. The 126,434 filings came out to a 34.3% increase from July 2008 and an 8.7% increase from June 2009. The American Bankruptcy Institute reported the spike recently, saying that the month showed the most consumer bankruptc ...

Birmingham Bankruptcy Lawyer - greenwaylaw.com