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Bankruptcy

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BUSINESS
November 22, 1995 | By Julie Stoiber, INQUIRER STAFF WRITER
Loyal buyers of Reisman pretzels need not worry: Although J. Reisman & Sons Inc., of Pennsauken, has filed for Chapter 11 bankruptcy, its pips, twists, rings, rods and minis won't disappear from store shelves. The family-owned company, which has been making pretzels for more than 75 years, received approval yesterday from U.S. Bankruptcy Judge Gloria M. Burns in Camden to use future receivables to keep the company rolling. "From what I understand, it's business as usual," said Arthur J. Abramowitz, a Cherry Hill lawyer who is representing the company in the bankruptcy proceedings.
NEWS
September 27, 2011
WILMINGTON - The Roman Catholic Diocese of Wilmington has emerged from bankruptcy with the funding of a $77.4 million trust for victims of priest sex abuse. Attorneys told a Delaware bankruptcy judge that a check deposit and wire transfers had been made in compliance with Monday's deadline for funding of the trust. Under the diocese's reorganization plan, about 150 alleged abuse victims will share proceeds of the trust in return for releasing all legal claims against the diocese, its parishes, and affiliated entities.
NEWS
August 5, 2009 | By CHRISTINE OLLEY, olleyc@phillynews.com 215-854-5184
The bankruptcy proceedings involving the owner of the Daily News and Inquirer have been assigned to a new judge, according to a filing made yesterday in federal bankruptcy court. Judge Jean K. FitzSimon had been handling the case since the company filed for Chapter 11 bankruptcy protection in February. Stephen Raslavich, chief judge of the Eastern District of Pennsylvania's U.S. Bankruptcy Court, will now preside over the case, according to the filing. Sources said that they believe that the case was reassigned because FitzSimon had health issues.
NEWS
October 3, 1991 | By Michael L. Rozansky, Inquirer Staff Writer
A federal bankruptcy judge yesterday approved an unusual reorganization plan for Suburban Furniture Galleries, a Cheltenham store that shut its doors last fall after taking thousands of dollars in deposits from consumers. The Chapter 11 plan was written by lawyers for customers who contended that they had been ripped off by the store and was designed to maximize the money returned to the consumers. The plan sailed through without discussion. "I think it's a done deal," said U.S. Bankruptcy Court Judge David I. Scholl.
BUSINESS
February 5, 1991 | From Inquirer Wire Services
The troubled retail sector suffered another blow yesterday when Hills Department Stores Inc., the nation's fifth-largest discount chain, filed for bankruptcy court protection. The announcement came a month after Hills, of Canton, Mass., said it would close 28 of its 214 stores as part of a restructuring that would cost the company $125 million. Hills stock fell 12.5 cents a share to 62.5 cents yesterday in New York Stock Exchange trading. A Hills statement said the company's operations continued to be profitable, but "the burden of its interest and debt-repayment obligations requires the restructuring of its balance sheet.
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ARTICLES BY DATE
BUSINESS
May 17, 2016
3C Enterprises II Inc., doing business as Keller's Family Market , 2850 Audubon Village Dr., Audubon; Chapter 11; no schedules available. Laura Cousins-Washington, formerly known as Laura Cousins, doing business as Fresh and So Clean , 705 Holly Dr., Stowe; Chapter 13; no schedules available. Tracey Denis Jackson, doing business as Trajax Transportation Service , 8249 Forrest Ave., Philadelphia; Chapter 7; no schedules available. Juan L. Torres, doing business as Torres Mini Market , 1048 E. Chelten Ave., Philadelphia; Chapter 13; no schedules available.
NEWS
May 14, 2016 | By Andrew Maykuth, Staff Writer
Penn Virginia Corp. of Radnor, one of the region's oldest surviving businesses, filed for bankruptcy protection Thursday, a casualty of the worldwide plunge in energy prices. Founded in 1882 by Philadelphia coal barons, the company transitioned to shale-oil production in recent years but was overwhelmed by last year's oil-price collapse, which eroded its revenue and diminished the value of its oil and gas reserves. The company, whose acreage is concentrated in Texas but includes holdings in Pennsylvania's Marcellus Shale region, listed assets of $518 million and debts of $1.4 billion in filings with the U.S. Bankruptcy Court for the Eastern District of Virginia.
NEWS
May 11, 2016 | By Claudia Vargas, Chris Brennan, and Chris Palmer, STAFF WRITERS
Philadelphia Streets Commissioner Donald Carlton was arrested Friday for allegedly punching an unidentified man "multiple times in the face" at a house party in Olney last December, according to the District Attorney's Office. Philadelphia police said that about 6:30 p.m. Dec. 6, Carlton and a 50-year-old man had an argument inside a house on the 6000 block of North American Street. The argument escalated to a fight, police said. The victim, who was not identified, suffered a fractured rib and a bruised eye, District Attorney's Office spokesman Cameron Kline said.
BUSINESS
May 3, 2016
Richard L. Weber Sr., also known as Dick Weber, doing business as Weber State Farm Insurance, 631 E. High St., Pottstown; Chapter 13; no schedules available. Walton Motivation Inc., Reading; Chapter 7; no schedules available. Lehigh Valley Properties Inc. , Reading; Chapter 11; no schedules available. Taylor Gifts Inc. , 600 Cedar Hollow Rd., Paoli; Chapter 7; no schedules available. Commonwealth Health Associates Inc. , 1430 Dekalb St., Suite 300, Norristown; Chapter 7; no schedules available.
NEWS
May 1, 2016 | By Andrew Maykuth, STAFF WRITER
Penn Virginia Corp., the embattled Radnor oil and gas producer, stated Friday in a U.S. Securities and Exchange Commission filing that it is "highly likely" it will seek Chapter 11 bankruptcy protection to restructure $1.2 billion in debt. The company, which is among many U.S. oil and gas producers in financial trouble because of low energy prices, acknowledged in its first-quarter earnings report that it is in default under its revolving credit agreement. Its lenders have agreed not to declare default until May 10 if certain conditions have been satisfied.
BUSINESS
April 18, 2016 | By Suzette Parmley, Staff Writer
Close calls don't count in sports retailing, and that helps explain why it will soon be lights out for the Sports Authority store in Cherry Hill. The field is crowded - Dick's Sporting Goods (the 800-pound gorilla because of its scale), Modell's, REI, Cabela's, and Bass Pro Shops are among the players vying for the sporting dollar. There's also Schuylkill Valley Sports, an employee-owned firm with 18 stores in the Philadelphia region, and City Sports, an East Coast chain that tanked and is being revived by two Wharton-trained brothers.
BUSINESS
April 15, 2016 | By Harold Brubaker, STAFF WRITER
Lawyers for the defunct Foxwoods casino project in South Philadelphia lost their bid in bankruptcy court to recoup the $50 million license fee Foxwoods paid in 2007. In a 64-page ruling Friday, U.S. Bankruptcy Judge Magdeline D. Coleman rejected the Foxwoods group's arguments under bankruptcy code and said she did not have jurisdiction over certain other counts, which belong in state court. A lawyer for the Foxwoods group - formally known as Philadelphia Entertainment & Development Partners L.P. - said he would recommend that his client appeal the bankruptcy issues to U.S. District Court for the Eastern District of Pennsylvania.
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