The AZ Bankruptcy Law Blog

Chapter 11 Bankruptcy To Chapter 7 For Hostess Brands, Inc.

What is the deal with 2012!? First, the NHL can’t get their act together, and now, no more twinkies!? Yep, Snack Fans, the day has come; it’s finally happened – Hostess decided to close up shop. Due to a confluence of events, the nation’s unofficial bakery opted to “sell off assets to the highest bidder” Read More

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creditor issues in Arizona bankruptcy cases

Creditor Bankruptcy Issues

This article addresses issues that creditors face when one of their debtors files for bankruptcy. What happens if someone indebted to you files for bankruptcy? One of the most powerful features, and consequently one of the main reasons people pursue a bankruptcy to discharge their debt it, is that bankruptcy stops creditors from pursuing you Read More

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How Authorities Collect Debt

When dealing with collections there are many  ways to proceed, specifically when dealing with liens on property.  Although this is meant to be informative,  you should discuss these issues with an experienced business collections attorney Leaving aside for a moment the first mortgage and ability to foreclose on the property through trustee sale, we will Read More

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Advantages Of Filing A Chapter 11 Bankruptcy

Unfortunately for some companies, the business debts exceed the business assets.  In those cases, it may be impossible to avoid business bankruptcy.  There is hope though, as many are able to still do business after bankruptcy in certain instances.  A bankruptcy for business differs in a number of ways than a normal Chapter 7 Bankruptcy Read More

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Arizona bankruptcy case study

Chapter 11 Bankruptcy: Arizona’s Star Buffet

On September 28, 2011, Grand Canyon-state restaurant conglomerate, Star Buffet, Inc., filed for Chapter 11 bankruptcy in Arizona. Last week, the Arizona District U.S. Bankruptcy Court approved the corporation’s disclosure statement. A confirmation hearing is set for this summer. Background of Star Buffet’s Arizona Chapter 11 Bankruptcy Filing Star Buffet, Inc. operates approximately 40 restaurants Read More

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chapter 7 bankruptcy case study

Biotech Neurologix Files For Chapter 7 Bankruptcy

Neurologix Inc. (NRGX) was a maker of gene therapies for late-stage Parkinson’s, depression and Huntington’s disease. Like several other biomedical companies in recent years, Neurologix recently filed for chapter 7 bankruptcy protection under the U.S. Bankruptcy Code. The company is based out of Fort Lee, New Jersey and had about $1.2 million worth of assets Read More

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