All Posts Tagged Tag: ‘Chapter 11’

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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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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Arcapita Bahrain US Bankruptcy Exit a 1st for US

Arcapita, an Islamic investment firm in Bahrain, emerged from US bankruptcy today under Chapter 11 rules. It is the first of the Gulf companies to do so. This move may help clarify how Western courts deal with Islamic finance, marking the first time a question of an Islamic ruling (fatwa) had been presented to a US bankruptcy judge, according to …

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Circuit City Goes Bankrupt

Just last week Circuit City announced the closing of 155 stores which meant 155 fewer music stores.  Today the retailer filed for Chapter 11 bankruptcy protection.  According to the Associated Press:

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