The impact of the pandemic is preventing Pacific Theaters Exhibition Corporation from opening the doors to its ArcLight Cinemas and Pacific Theaters locations. The exhibitor in difficulty, present at the 16 sites, has instead filed for Chapter 7 bankruptcy in order to liquidate its remaining assets for its creditors, the company announced on Friday. “We […]
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Pacific Theatres Files For Chapter 7 Bankruptcy – News
Pacific Theaters Exhibition Corporation, which includes Arclight Cinemas, really isn’t due to reopen anytime soon. The exhibition company today issued a statement that it is filing Chapter 7 in order to liquidate its assets for creditors. We hear that the “assets” to which this bankruptcy relates are the equipment, seats, projectors and popcorn machines like […]
Pacific Winnetka Theater To Liquidate Assets
CHATSWORTH, CA – Pacific Theaters Exhibition Corporation, owner of the Pacific Winnetka 12 Theater in Chatsworth, announced Thursday that it is filing for Chapter 7 bankruptcy to liquidate creditors’ assets. This includes all equipment, seating, projectors, and popcorn machines for all ArcLight and Pacific locations except ArcLight Hollywood and the Cinerama Dome. The Decurion Corporation, […]
Omega Sports submits bankruptcy reorganization plan | Local
“The debtor should be able to pay its operating expenses and generate sufficient disposable income and profit to fund the plan,” according to the filing. Omega’s financial analysis projects have total revenue of $ 10.3 million in fiscal 2021, $ 13 million in fiscal 2022, $ 14.7 million in fiscal 2023 and $ 16 million […]
Omega Insurance Surrogacy Scandal Surpasses $6M In Claims
The damage caused by the Omega PregnancyCare insurance scandal continues to mount. The court-appointed liquidators for the separate Cayman-based holding company – which housed the primary insurance entity of the insurance product sold in the United States – appealed for victims’ claims. As reported in a May 6, 2021, Zoom meeting of creditors, those claims have […]
Bankruptcy Attorney
Do I Require the Services of a Bankruptcy Attorney? What is the Role of a Bankruptcy Attorney? Because the term “bankruptcy” conjures such terrible connotations, people often overlook the actual reason for filing: getting out of debt. A) It protects you against creditors; and B) It relieves you of some, if not all, of your […]
Bankruptcy Lawyer
Five Things To Look For In a Bankruptcy Lawyer If you’re thinking about filing for bankruptcy, hiring a competent bankruptcy lawyer is your best chance for a successful result. Although it is possible to file for bankruptcy without employing an attorney, doing so is not recommended. “Filing personal bankruptcy under Chapter 7 or Chapter 13 […]
What is Bankruptcy Fraud?
What is Bankruptcy Fraud? The broad term bankruptcy fraud refers to any activity that filers might engage in to gain an unfair advantage during the bankruptcy process. It can lead to a felony that could result in up to five years imprisonment and a non-dischargeable fine of up $250,000. A quick word about intention A crime […]
Nine Point Energy Approaches Bankruptcy After Lien Ruling
A plaque is displayed at the entrance to the US Bankruptcy Court for the Southern District of New York in Manhattan, New York, USA, on January 9, 2020. REUTERS / Brendan McDermid The intermediary service provider looks for money or credit to protect the lien Lenders prevail over disputed $ 150 million claim The hearing […]
Navarro accuses Biden of siding with credit card companies against consumers with 2005 bankruptcy bill
White House trade adviser Peter Navarro on Sunday called Democratic presidential candidate Joe Biden an ally of credit card companies to average Americans. Navarro criticized Biden’s support for the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), which critics say has made it much harder for Americans to get out of debt. VIRTUAL […]