bankruptcy

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PI: Casey Anthony Told Lawyer She Killed Caylee

And she was having sex with lawyer as swap for legal representation: investigator affidavits

(Newser) - That Casey Anthony has a bankruptcy case working through the legal system isn't shocking—but a couple of documents included with court papers filed in April are. Per two affidavits by private investigator Dominic Casey, who worked with Anthony's defense team after she was accused of murdering her... More »

Elizabeth Warren: Donald Trump Is a 'Loser'

Massachusetts senator goes on the attack

(Newser) - Looks like Elizabeth Warren and Donald Trump won't be getting cozy anytime soon. The Massachusetts senator today called Trump "a loser" on Facebook and Twitter, just days after he was quoted in an interview mocking her claim to Native American heritage. "Let’s be honest—Donald Trump... More »

'Bankrupt' 50 Cent Ordered to Explain Instagram Photos

Creditors spotted pictures of him frolicking in cash

(Newser) - A bankruptcy judge who says the process is for "honest but unfortunate" debtors wants 50 Cent to explain why he has been acting like Scrooge McDuck in Instagram photos. He has been ordered to court to discuss the photos, including one of him spelling out "BROKE" in stacks... More »

Kickstarter Digs Deep Into Case of Doomed Drone

Was Europe's largest Kickstarter ever a scam?

(Newser) - It had all the makings of fraud, or at least some level of incompetence: a Kickstarter product that raised a ton of cash, didn't ship on time to backers, didn't work properly, and sent the manufacturer into bankruptcy. Not only that—it was the largest project out of... More »

Company Shkreli Wanted to Turn Around Files for Chapter 11

KaloBios Pharmaceuticals is still appealing its Nasdaq delisting

(Newser) - Earlier this month, Martin Shkreli's company dumped him as CEO after he was arrested for securities fraud . But the damage to KaloBios Pharmaceuticals has been done, and Tuesday the company filed for Chapter 11 bankruptcy protection in Delaware, Reuters reports. The filing lists assets of more than $8 million... More »

Feds: Only Congress Can Help Puerto Rico Now

Broke US territory faces looming humanitarian crisis

(Newser) - These are tough times indeed for the people of Puerto Rico: The US territory has been in a recession for almost a decade, has a $72 billion debt it can't pay —and it has now been informed that its only hope is quick action from Congress. The federal... More »

American Apparel Files for Chapter 11

But all its US stores, manufacturing operations will remain

(Newser) - American Apparel's legal troubles with its ousted founder , combined with dipping sales and huge debts, have proved too much for the company, which filed for bankruptcy in Delaware on Monday. As part of the Chapter 11 filing, more than $200 million of bonds will be swapped for stock in... More »

So Long, 20th Century: Columbia House Files Chapter 11

Ex-mail-order giant just couldn't compete with digital music, streaming

(Newser) - Nearly everyone with a penny and a PO box who came of age in the final part of the 20th century built up their CD—or gasp, cassette tape—collections with the help of mail-order giant Columbia House. But what the Verge calls the "Spotify of the '80s"... More »

What 50 Cent Really Spends His Money On

$5K on gardening sounds necessary

(Newser) - 50 Cent might have stretched the truth a bit in court when he told a lawyer all his Lamborghinis, Bentleys, and Rolls Royces were rented . New bankruptcy filings show he actually owns seven cars, including a Rolls Royce and three Chevy Suburbans, worth $500,000, report People and Page Six... More »

50 Cent Shares Truth of His Bling: My Watch Is Plastic

Rapper testifies in court

(Newser) - Rapper 50 Cent is one of hip-hop's five richest artists, according to Forbes. He tried to paint a much different picture in court yesterday. The multiplatinum-selling artist, born Curtis Jackson III, appeared in Manhattan state Supreme Court in a proceeding to decide possible additional punitive damages in an invasion-of-privacy... More »

RadioShack Is Hawking Its Name, Your Data

Hedge fund puts in $15M bid

(Newser) - The name that brothers Theodore and Milton Deutschmann came up with for their ham radio store in 1921 is up for sale—and, more controversially, so are the email addresses and other customer data RadioShack collected before filing for bankruptcy in February. The current top bid is $15 million and... More »

Judge: 'New GM' Not Liable for Death, Injury Claims

Bankruptcy shields it from pre-2009 ignition switch claims

(Newser) - A 2009 bankruptcy order shields General Motors from billions of dollars in death and injury claims tied to defective ignition switches in older small cars, a federal judge ruled yesterday. But Judge Robert Gerber—who handled GM's government-funded bankruptcy case six years ago—also ruled that plaintiffs who claim... More »

RadioShack Files for Chapter 11

Electronics store had tried to stave off bankruptcy

(Newser) - Struggling electronics retailer RadioShack has filed for Chapter 11 bankruptcy protection and says it will sell up to 2,400 stores. The Fort Worth, Texas company said today that it was also having discussions to sell all of its remaining assets . RadioShack Corp. introduced one of the first mass-market personal... More »

No More Garden Yetis? SkyMall Files for Bankruptcy

In-flight magazine no longer has a captive audience

(Newser) - It was just a matter of time : The company behind SkyMall, the inflight magazine that pitched air travelers stuff they didn't need, has filed for bankruptcy. It could go no longer compete now that people are allowed to fire up their smartphones and tablets on the plane, especially against... More »

Giudice Sues Ex-Lawyer: Jail Sentence Is Your Fault

She wants $5M from James Kridel

(Newser) - Teresa Giudice is apparently unhappy that she's headed to prison for 15 months—so unhappy that the reality star is suing her former attorney for $5 million, claiming it's his fault. The New Jersey Real Housewife says James Kridel, who handled the family's original 2010 bankruptcy filing,... More »

NHL Star Bankrupt, Thanks to Parents

Columbus Dispatch reveals plight of Jack Johnson

(Newser) - That a professional athlete who rakes in millions of dollars a year has to declare bankruptcy isn't all that unusual. That his parents are mostly to blame is a little more so. Such is the plight of the Columbus Blue Jackets' Jack Johnson, reports the Columbus Dispatch . The 27-year-old... More »

Insured Woman Treated at 'Wrong' Hospital Billed $50K

In a coma, she couldn't tell paramedics to take her to hospital up the road instead

(Newser) - After suffering a heart attack that nearly killed her at age 29 last year, Megan Rothbauer would love to be celebrating being alive, not to mention planning her wedding and future family. Unfortunately for her, she was in a coma when paramedics arrived and could not ask them to take... More »

Judge's Doodle Was Key to Detroit Bankruptcy Deal

Words 'art' and 'pension' and a few arrows did the trick

(Newser) - The plan approved by a judge yesterday to get Detroit out of bankruptcy is, as you'd expect, a complicated thing. But both the New York Times and the Wall Street Journal say the deal had the simplest of origins:
  • Journal: It "started with a doodle on a legal
... More »

Trump's Onetime Boardwalk Empire Is Bankrupt

Trump Entertainment Resorts Inc. files for bankruptcy

(Newser) - Atlantic City's Trump Taj Mahal Casino Hotel and the Trump Plaza Hotel and Casino met their likely ends this morning in Delaware bankruptcy filings, Reuters reports. Trump Entertainment Resorts Inc.—associated with the billionaire and reality star Donald Trump basically only in name , as per CNBC —operates... More »

Many Parents Have to Pay Off Dead Kids' Student Loans

Families often have little legal recourse in these cases

(Newser) - Probably the last thing parents mourning a deceased child want to do is deal with late notices from creditors—especially when those notices are for a student loan taken out by their lost loved one. That's what happened to pastor Steve Mason, who found himself saddled with a $100,... More »

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