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, […]
Oregon Bankruptcy
What Are The Oregon Bankruptcy Exemptions? Oregon law protects all or a portion of your property from being seized by creditors or the bankruptcy trustee in a Chapter 7 bankruptcy. In a Chapter 13 bankruptcy, you are generally allowed to keep all of your assets and property. Certain exceptions may apply, so it’s wise to […]
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 […]
California Pizza Kitchen Bankruptcy
California Pizza Kitchen Responds Quickly to Bankruptcy Exit According to Judd Tirnauer (the company’s new chief finance officer), things have improved for California Pizza Kitchen Inc. after a brief stint in bankruptcy court. Tirnauer, who replaced Carey Carrington as interim CFO at CPK last month, said that the company was forward-thinking and took the necessary […]
Bankruptcy Purdue Pharma
Bankruptcy Purdue Pharma Purdue Pharma’s proposed bankruptcy plan for restructuring is now up for a vote among claims and creditors. Following the voting period, the Bankruptcy Court will hold a Confirmation Hearing to decide whether the plan should be approved. On August 9, 2021, a hearing for confirmation will be conducted. If you filed a […]
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 […]