Almost a month ago, our blog featured a story on a pending US Bankruptcy Court action for the movie and video game rental company Blockbuster Inc. The national retailer has struggled to compete with new companies such as Netflix Inc. and Redbox Automated Retail. Blockbuster filed for Chapter 11 bankruptcy protection in September, but failed [...]
the Internal Revenue Service wants the courts to crack down on Alfred Villalobos, the businessman in the middle of the CalPERS bribery scandal. Saying Villalobos is “depleting” his fortune, the IRS last week asked the judge overseeing Villalobos’ Chapter 11 bankruptcy protection to convert it to a Chapter 7 liquidation. In a Chapter 7 case, [...]
Can you please explain to me what Chapter 11 bankruptcy is. I need to know for a project about Abercrombie and Fitch.