By

Pension Crises In Illinois Informing Bankruptcies

Pension crises are happening around the country, most notably in Detroit, Illinois. and New Jersey. Alabama fears it is headed in the same direction and is closely watching how these other municipalities More About This Bankruptcy Option [...]

By

Using Bankruptcy As A Bargaining Tool

A law professor at the University of Illinois says that bankruptcy is the way to go when you have valuable assets to protect. While filing for bankruptcy can be very helpful when it comes to wiping out More About This Bankruptcy Option [...]

By

Chicago Struggling Without Bankruptcy Option

Chicago is the biggest city of note in Illinois that is struggling financially, but it is definitely not the only one. Cities in the state have to be granted legislative approval in order to file for bankruptcy, More About This Bankruptcy Option [...]

By

Illinois Mayors Talk Bankruptcy Options

City mayors in Illinois are speaking out about the State's refusal to allow them to file bankruptcy. Without that option, they say, cities are struggling to pay pensions. And residents are having to pay More About This Bankruptcy Option [...]

By

GM Fighting New Battle In Bankruptcy

General Motors filed for bankruptcy, which should make them exempt from actions prior to the filing. A new issue surrounding a malfunctioning part in 2009, however, may not be covered by the bankruptcy More About This Bankruptcy Option [...]

By

Illinois Auto Insurance Companies Filing For Bankruptcy

Two extended auto warranty companies in St. Charles, Illinois recently filed for bankruptcy. They both filed for Chapter 11 bankruptcy protection. And they both claim to have somewhere between 50-99 creditors. Read More About This Bankruptcy Option [...]

By

Retail Stores Bankrupt In Illinois

Coldwater Creek has announced its impending bankruptcy plans. It will close 18 retail stores in the state of Illinois alone. Across the country, 365 stores will be closed. Learn more from Kane County More About This Bankruptcy Option [...]

By

Chicago Taking Steps To Avoid Bankruptcy

The City of Chicago is struggling under pension woes. The Illinois legislature is helping the city by increasing the cost of benefits for some government employees. This is being done to hopefully avoid More About This Bankruptcy Option [...]

By

Detroit Bankruptcy Judge Seeks Mayor’s Support

Judge Steven Rhodes is overseeing Detroit's bankruptcy proceedings. He is seeking assurances from the mayor and other elected officials when it comes to the city's plan. This plan includes pension cuts More About This Bankruptcy Option [...]

By

Expert Witnesses Vying For Position in Detroit Bankruptcy

The federal bankruptcy judge overseeing Detroit's bankruptcy is looking for an expert witness. There are five candidates he is considering. The expert witness will help the judge evaluate the city's bankruptcy More About This Bankruptcy Option [...]