Recent Posts in Liquidation Category

  • What is Going On with Sports Authority?

    If you liked to shop at Sports Authority for apparel and equipment, you will need to act fast to catch any more last-minute liquidation sales. In late June, U.K. sporting goods retailer Sports Direct International PLC entered talks with Modell’s Sporting Goods about a potential deal to acquire as many as 200 Sports Authority stores out of the retailer’s bankruptcy , which was filed in March. By ...
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  • Arizona Power Plant Operator Sundevil Power Files for Bankruptcy

    Here's a reorganization case striking close to home. Sundevil Holdings LLC, which operates two gas-fired power plants in Gila Bend, Arizona filed for Chapter 11 protection, Reuters reported. The company, owned by private equity firm Wayzata Investment Partners, listed $100 million to $500 million of both assets and liabilities in its filing with the U.S. Bankruptcy Court in Wilmington, Del. The ...
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  • The importance of the means test when filing for Chapter 7

    For those in Arizona who are experiencing financial struggles, Chapter 7 bankruptcy is an option that many consider. While Chapter 7 - also referred to as a liquidation - might sound like a viable choice, there are certain factors that must be in place for it to be available to the prospective filer. There is a "means test" that must be met for it to be a choice. Before moving forward with Chapter ...
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  • Who is eligible for Chapter 7 bankruptcy?

    Many Arizona residents may be considering starting the new year with a clean slate, including a new start on their financial life. One way to achieve this new beginning is filing for Chapter 7 bankruptcy, commonly known as liquidation bankruptcy. Most unsecured debts and some forms of taxes are wiped out with this form of bankruptcy and it also puts an end to creditor harassment and wage ...
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  • The Chapter 7 bankruptcy process

    Chapter 7 bankruptcy is a bankruptcy option that allows individuals to liquidate nonexempt assets to repay creditors and enjoy debt relief. Some property is considered exempt and is protected from the liquidation process. There are several categories of exempted property, including a wild card category, but exemptions are subject to certain limits and requirements. A test referred to as the means ...
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  • Arizona non-profit files for Chapter 7 bankruptcy

    In these difficult economic times, economic difficulties can hit anyone, individuals facing overwhelming debt, even Arizona companies struggling to keep their head above water. In fact, it may be even harder for companies to spring back from financial difficulties because they rely on customers to use their services, but customers are tightening their belts and budgeting themselves. Unfortunately, ...
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