Cambridge Analytica Announces Closure, Files for Bankruptcy

Cambridge Analytica, the controversial firm embroiled in the mishandling of Facebook user data, has announced its shut down on Wednesday. Its British parent SCL Elections Ltd. will also be shuttered as the data analytics company reported a significant decline in…

50 Cent Now Ordered To Pay Even More, Despite Filing For Bankruptcy

50 Cent said he had a decent legal team, but he may be wondering that now. After 50 Cent took the shrewd measure of filing bankruptcy in Connecticut to protect himself from being sued into the poor house, a jury…

50 Cent Bankruptcy Like Donald Trump’s; He’s Not Broke

Last week, rapper 50 Cent was ordered by a court to pay $5 million to a Florida mom for posting a sex tape of her online. This week, 50 Cent filed bankruptcy. While there have been lots of speculation about…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

Aaron Carter Has Filed for Bankruptcy

After accruing more than $2 million in debt, Aaron Carter has made the tough decision to file bankruptcy. Bankruptcy never sounds like a good thing, however Carter’s publicist, Steve Honig, says it is a positive step for Carter, and will…

BlockBuster U.K. Enters Administration, Again

In January of this year, Blockbuster U.K. announced that it was entering administration, the British version of a bankruptcy filing. The company began closing dozens of its stores and laid off hundreds of employees while getting into shape for a…

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…

Kodak Bankruptcy: Company’s B2B Transition

Eastman Kodak Company, in a 20 August decision filed by the US Bankruptcy Court for the Southern District of New York, received approval for a reorganization plan that may eject Kodak from Chapter 11 bankruptcy as soon as 3 September.…

Michigan AG Backs Pensioners in Detroit Case

According to The Daily News, Michigan’s Attorney General has come out on the side of retirees in Detroit who stand to lose big time if the city goes ahead with its bankruptcy plans. Republican Bill Schuette said the state’s constitution…