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Bankruptcy Archives

Which post-bankruptcy home payments matter?

Florida residents who are considering bankruptcy may have some questions, particularly if they own their own homes. Some may ask if they would still be liable for mortgage payments if their homes were discharged in bankruptcy, especially if they had been living in the home and making payments after the discharge. A financial planner offers the following advice, which might be helpful; however, the information is general and may not pertain to everyone.

How bankruptcy might benefit you

Florida residents with significant debt may wonder about ways to get relief. Many people believe that there is a social stigma associated with filing for bankruptcy. However, financial expert Suze Orman says bankruptcy is often a better choice than the alternative options.

Pharmaceutical firm files voluntary Chapter 11

Savient, a firm that manufactures drugs used by patients in Pennsylvania and other states, made a formal Chapter 11 bankruptcy filing in late October. The firm's filing was entered in the Bankruptcy Court for the District of Delaware, and it included a request for authorization to complete a sale.

Media conglomerate files bankruptcy

Individuals in the media in Florida watched as a publishing company, GateHouse Media Inc., petitioned the U.S Bankruptcy Court in Delaware for bankruptcy protection on Sept. 27. This happened as creditors were seeking a restructuring plan that would give control of the company to an investment group. The bankruptcy petition lists assets of close to $434 million and debts of $1.3 billion. The company asserted that most of the lenders who voted on the plan supported it.

Retirement community owner files bankruptcy

The owner of a Florida assisted-living facility filed for Chapter 11 bankruptcy protection with a restructuring plan based on a deal that would give lenders an ownership stake in exchange for the debt. Devonshire PGA Holdings LLC listed its debt at up to $50 million with assets of less than $50,000 in its filing for debt relief.

Florida green tech drivers lose supplier to Chapter 11 bankruptcy

Florida owners of rechargeable electric vehicles won't be using charging stations made by the recipient of a nearly $100 million grant from the U.S. government. Ecotality Inc filed for Chapter 11 bankruptcy, the latest industry casualty from the public's general lack of interest in electric cars. The San Francisco-based maker of recharging stations for the vehicles, along with five of its affiliates, announced it would be auctioning off its assets one month after the filing and asked the court that it be allowed to pay its employees and vendors.

Embattled Florida brain hospital emerges from bankruptcy

The Florida Institute for Neurologic Rehabilitation filed for bankruptcy, and a judge has approved its reorganization plan because of the hospital's reports that it improved its cash flow. The bankruptcy was filed after reports that the facility was in debt ranging from $3 million to $30 million owed to between 103 and 346 creditors. A spokesperson for the medical company said that a rash of negative media reports about alleged patient mistreatment led to a major decline in revenue.

Orlando healthcare company to emerge from Chapter 11 bankruptcy

The Orlando-based healthcare tech company Rotech saw its debt restructuring plan approved by a federal judge. That court action allowed Rotech Healthcare Inc. to emerge from Chapter 11 bankruptcy reorganization, according to the company. Additionally, the judge approved $358 million in financing, which the company expects to close in on in September, thus ending its time in bankruptcy.

The road to bankruptcy recovery

Individuals in Florida filing for bankruptcy may feel alone. However, records from the American Bankruptcy Institute indicate that the number of consumer bankruptcy filings in July were more than 87,000. Even knowing that it's not uncommon does not make the process any less stressful, and it's important to know what to do to keep it from happening again.

ABA Defending Liberty Pursuing Justice American Bankruptcy Institute The Florida Bar 1950 CFAWL Criminal Florida Association For Women Lawyers Orange County Bar Association
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