The owners of the Banning Lewis Ranch on the far east side of Colorado Springs filed Thursday for U.S. Bankruptcy Court protection from its creditors. The Banning Lewis Ranch Co. LLC and its subsidiary, Banning Lewis Ranch Development I & II LLC, filed Chapter 11 petitions in the U.S. Bankruptcy Court in Delaware, citing more than $242 million in debts. The two companies own the 21,400-acre ranch that stretches from Woodmen Road to Fontaine Boulevard between Marksheffel and Meridian roads.
It's taking longer than expected for chemical manufacturer Tronox Inc. to emerge from Chapter 11 bankruptcy. The Oklahoma City-based Kerr-McGee Corp. spinoff announced late last year it would be able to exit bankruptcy by the end of 2010. However, the company is still sparring in court with Anadarko Petroleum Corp. over the terms of a trust set up to pay for the cleanup of Tronox's environmental liabilities and tying up other lose ends.
The Columbian Publishing Co. filed for Chapter 11 bankruptcy protection Friday in a move to resolve credit issues with Bank of America, primary lender on its multimillion-dollar downtown building project completed last year. Scott Campbell, publisher of the independent daily newspaper serving Clark County and Southwest Washington, said operations will be unaffected by the filing and that his company will emerge from the situation in a few months with renewed vigor and excitement for the future.
A bankruptcy filing does not necessarily mean that a supplier will automatically stop shipping goods or providing services to the company that's filing Chapter 11, but it may add some uncertainty to the process," says Thomas S. While the procedures for filing a Chapter 11 petition, which envisions a sale or other reorganization and continuation of the business, are fairly uniform, bankruptcy lawyers say that the way a company treats its key suppliers and employees can make a big difference in the debtor-firm's future. "A bankruptcy filing does not necessarily mean that a supplier will automatically stop shipping goods or providing services to the company that's filing Chapter 11, but it may add some uncertainty to the process," says Thomas S. Onder, a senior associate and member of the...
Senior Management Group, an Edmond-based company that operates seven residential care homes with 300 beds across the state, filed for Chapter 11 bankruptcy on Monday, along with three of the senior homes it controls. The residential care homes that filed for bankruptcy all operate under the Heartland Plaza name in Duncan, Ardmore and Broken Arrow. Together, the homes are licensed to house 145 seniors.
Citadel Broadcasting, owner of KABC (790 AM) and KLOS (95.5 FM), disclosed in its recent quarterly filing with the Securities and Exchange Commission that it is talking with its creditors about the possibility of declaring Chapter 11 bankruptcy. The company saw net revenue fall 10 percent in the third quarter and Citadel officials say they may not be able to meet their credit obligations in January.
WILMINGTON, Del. - Washington Mutual Inc. has tentatively resolved disputes with JPMorgan Chase & Co. and the Federal Deposit Insurance Corp. over some $4 billion at issue in the bank holding company's Chapter 11 bankruptcy, a WaMu attorney said Friday.
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