All Posts Tagged Tag: ‘Bankruptcy’

Trump Taj Mahal Closing Slated For November, Donald Trump Files Lawsuit

Atlantic City’s gambling industry is in danger following the announcement of the closing of one of its iconic casinos, the Trump Taj Mahal. If it closes in November, as Trump Entertainment Resorts threatened on Tuesday, Trump Taj Mahal will be the fifth casino shut down this year out of 12 establishments located in Atlantic City. In a statement e-mailed to …

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Scottie Pippen’s Defamation Lawsuit Gets Rejected By Supreme Court

On Monday, the Supreme Court rejected an attempt to revive a defamation lawsuit filed by former Chicago Bulls player Scottie Pippen against media outlets that falsely reported he filed for bankruptcy. In 2011, Pippen sued CBS Interactive Inc., NBC Universal Media LLC, and other large media companies, seeking $10 million in damages. Pippen’s camp called out the media companies for …

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Sbarro Out of Bankruptcy, Moving its Headquarters

Pizza restaurant chain Sbarro this week announced that it has officially exited bankruptcy. According to a New York Times report, the company’s reorganization plan was approved all the way back on May 19. That plan took effect for the company starting Monday, July 2. In addition to the bankruptcy update, Sbarro also this week announced that it will be moving …

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Mekhi Phifer Files Bankruptcy Protection, Owes Many

Mekhi Phifer has filed for Chapter 11 bankruptcy protection due to some serious debts. These debts include $1.2 million in back taxes, $50,000 in lawyer bills and $4,500 in unpaid child support, for a total of $1.3 million dollars. One wonders how a busy actor like Mekhi Phifer would end up in this situation. Well, he reportedly spends close to …

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Mekhi Phifer Files For Bankruptcy After Accruing $1.3 Million In Debt

Mekhi Phifer may be best known as Dr. Greg Pratt in NBC’s ER, but he’s in the news again for his extravagant expenses that have led to bankruptcy. TMZ is reporting that Phifer has filed for bankruptcy to help absolve around $1.3 million in debt. The makeup of said debt is apparently $1.2 million in back taxes, $50,000 in lawyer …

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Teri Polo, ‘The Fosters’ Star, Files Bankruptcy

Teri Polo, best known for her role as Ben Stiller’s wife on Meet the Parents, has reportedly filed for bankruptcy. According to federal court documents, 44-year-old Polo filled for Chapter 11 bankruptcy on April 14. She has a serious amount of debt, totaling nearly $1 million. In the documents, Polo reveals that she owes an estimated $772,000 to the IRS …

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Quiznos Goes Bankrupt. Is This Really Surprising?

Fast food chain Quiznos announced on Friday that it had filed for Chapter 11 bankruptcy in Delaware. The news comes within a week of pizza chain Sbarro’s filing bankruptcy papers in Manhattan, N.Y. With fast food chains filing for bankruptcy in quick succession, it makes you wonder, “Who’s next?” As for Quiznos, their woes are blamed on two separate but …

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Drake and Josh: Drake Bell Files For Bankruptcy

Drake and Josh alum Drake Bell is facing financial woes. According to TMZ, the former Nickelodeon star has filed for bankruptcy. The court documents state that Bell is approximately $581,000 in debt. The 27-year-old actor claims to only make $2,820 a month. However, he reportedly has monthly expenses amounting to more than $18,771. Bell is also upside down on his mortgage. His home is reportedly valued at $1.575 …

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Drake Bell Of Nickelodeon Fame Files For Bankruptcy

Former Nickelodeon child star Drake Bell is in some financial trouble. The former Drake & Josh star recently filed for bankruptcy, claiming that he’s $581,000 in debt. According to TMZ, Bell makes $2,820 a month, but his expenses run up to $18,771 a month. He is also listing the value of his house at $1.575 million, but it seems he …

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Vince Young: Another Professional Athlete Goes Broke

It’s always hard to believe that even after earning millions of dollars, some people still find a way to go broke. It is startling to hear the large contracts signed by professional athletes, but it is even more shocking to learn that a whopping 78% of NFL players have to deal with serious financial crisis or bankruptcy within the first …

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Detroit Bankruptcy Official, Unions Heated

“Certainly the court must conclude that the bankruptcy filing was a foregone conclusion.” After filing for protection more than four months ago, Detroit is now officially bankrupt. According to The Huffington Post, Steven Rhodes, U.S. Bankruptcy Judge, ruled Tuesday that Detroit is eligible for Chapter 9 bankruptcy protection. This allows officials of the Motor City to negotiate in court with …

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Fisker Automotive Files for Bankruptcy

Fisker Automotive, maker of the “Karma” plug-in electric hybrid luxury sedan, filed for bankruptcy protection last week, marking an end to a chain of failure that began after the company received a $529 million loan commitment from the U.S. Department of Energy. Anaheim, California-based Fisker, which planned to assemble Karmas at a former General Motors plant in Wilmington, Delaware, has …

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