Mt. Gox is a struggling bitcoin company that has had to shutdown after filing for bankruptcy. Angry investors are suing Mt. Gox in Chicago courts. A Chicago-based law firm is representing Mt. Gox in its suits. Read more from The Chicago Tribune: The collapse caps a tumultuous few weeks in which the company has remained…
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Hostess filed for bankruptcy in 2012 and put many employees’ pensions across the country in jeopardy. Some of those employees work at one of Hostess’s bakeries in Illinois. Many of these bakeries around the nation are banding together to fight for their pension funds. Read more from ChicagoBusiness.com: Hostess, maker of Wonder Bread and Twinkies,…
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People have been drawing comparisons between bankrupt Detroit and the financially struggling city of Chicago. A major independent agency, however, says that Chicago has the ability to handle its finances in a way that Detroit did not. A main concern in both cities is pensions Read more from The Chicago Tribune: National media, opinion-makers and…
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Detroit is in the middle of the country’s largest municipal bankruptcy filing. It has $18 billion in debts and is looking at the city’s art collection for potential relief. There is a group that is working hard to keep Detroit from auctioning off its valuable masterpieces. Read more from USA Today: The city’s $18 billion…
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Bankruptcy can strike people at all levels of society, rich or poor, famous or not. Drake Bell once starred on Nickelodeon’s show Drake and Josh. Now he is filing for bankruptcy, claiming to have debts pushing $600,000. He claims he made over $400,000 in 2012 but under $15,000 in 2013. Read more from US Magazine:…
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The Archdiocese of Milwaukee is ready to exit Chapter 11 bankruptcy. It filed for bankruptcy in January 2011 amid sexual abuse accusations, but is now ready to file its exit plan. In that plan, the Archdiocese is asking for $4 million to compensate the victims. Read more from bizjournals.com: The Archdiocese of Milwaukee Wednesday will…
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Bill Gates’ investment firm owns Optim Energy LLC. The power company is based in Texas and recently just filed for Chapter 11 bankruptcy. It is claiming over $500 million in debts. Read more from Bloomberg.com: Optim, also known as EnergyCo LLC, listed assets of more than $100 million and debt of more than $500 million…
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