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Bankruptcy

NEWS
January 21, 2016 | By Andrew Seidman, TRENTON BUREAU
TRENTON - Atlantic City is considering filing for bankruptcy, Mayor Don Guardian said Wednesday, even though the state is likely to block such a move and is pushing a plan to take control of the local government's finances. Guardian said he planned to hold an emergency meeting of the City Council next week to discuss a possible bankruptcy amid a fiscal crisis. Senate President Stephen Sweeney said that would be reckless and has attacked the city's government as incapable of reining in spending.
NEWS
January 19, 2016 | By Maddie Hanna, Staff Writer
Campaigning in Iowa during the weekend, Gov. Christie wouldn't say whether he supports Senate President Stephen Sweeney's plan for a state takeover of Atlantic City. But he said the local government hadn't done enough to turn around the beleaguered Shore resort's finances. "We now need to get the government under control in Atlantic City," Christie said after a town hall meeting in Fort Dodge. "The government in Atlantic City - and I've said this under the previous mayor, many times, and the current council - they cannot control themselves to do the job the right way," Christie said.
BUSINESS
January 19, 2016
Robert Ormiston, doing business as Personal Touch Cleaners , 2328 Blackledge Dr.; Quakertown; Chapter 7; no schedules available. Joseph M. Laird, doing business as Tailwind Bicycles L.L.C., and Katherine L. Laird, 61 S. Werstler Ave.; Gilbertsville; Chapter 13; no schedules available. Amenia A. Williams, also known as Amenia A. Awilliams, formerly doing business as Know & Grow , 2034 Medary Ave., Philadelphia; Chapter 7, no schedules available. Hua Feng Huang, doing business as Panda Garden , 5915 Bennington St., Philadelphia; Chapter 7; no schedules available.
BUSINESS
November 27, 2015 | By Harold Brubaker, Inquirer Staff Writer
OceanFirst Bank, of Toms River, N.J., bought Renault Winery Inc. Golf out of bankruptcy last week and will operate the Atlantic County facility under the new name, Tuscany Resort, while trying to sell it, the bank said. Renault filed for bankruptcy protection last November as OceanFirst, which held a $7.9 million mortgage on the property, was planning to have it sold in a sheriff's sale. Renault's total liabilities were $8.6 million. New Vistas Corp., of Northfield, will manage the property, which straddles Galloway Township and Egg Harbor City.
BUSINESS
November 19, 2015 | By Chris Mondics, Inquirer Staff Writer
A consultant - who is also the girlfriend of the lead bankruptcy lawyer for the Please Touch Museum - has been hired as a strategy adviser to the museum and will take over as its CEO when it comes out of bankruptcy. In a court filing at the end of October, Lawrence McMichael, of the Dilworth Paxson firm, said Patricia Wellenbach and the museum would not move forward with the plan until "the impact of the potential hiring on my disinterestedness has been resolved. " The museum announced at a news conference Monday that an anonymous donor had pledged $3.25 million to its fund-raising effort, and that Wellenbach would eventually takeover as CEO. Earlier, in a court filing on Friday, the Office of the United States Trustee in Philadelphia, which oversees bankruptcies, said it had no problem with Wellenbach's hiring, so long as Dilworth does not charge for any legal services related to her employment.
NEWS
October 16, 2015 | Howard Gensler, Daily News Staff Writer
Her money danced away If you're going to hide money when you declare bankruptcy, you can't be rich. You have to be very, very, very rich. "Dance Moms" star  Abby Lee Miller  found that out the hard way and has been charged with hiding $775,000 worth of income from her Lifetime network reality show and spin-off projects during her Chapter 11 bankruptcy. This is what hedge-fund managers call chump change. Federal prosecutors in Pittsburgh on Tuesday announced the bankruptcy-fraud indictment against Miller, formerly of Penn Hills.
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