Posted on July 29th, 2010
Yesterday, the American Safety Razor Co. filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court in Wilmington, Delaware. The New Jersey-based company is the fourth largest manufacturer of shaving razors and blades.
The company has set a deal to sell to first-lier lenders for $244 million. Junior lenders are owed $178 million. Razor Co. plans to hold an auction that will allow second-lier lenders and any others seven weeks to bid higher.
Razor Co. has acquired $25 million in bankruptcy finances to continue operating while they restructure and pay off debts. Razor Co. officials believe the restructuring will allow the company to reduce its debt while still investing in new razor technology.
If you or someone you know is considering filing for bankruptcy protection, contact the Milwaukee Chapter 7 and Chapter 13 bankruptcy lawyers of DeLadurantey Law Office, LLC at 414-377-0518 to learn more about your rights.
Posted on July 22nd, 2010
Bankruptcy statistics from the first six months of 2010 reveal that bankruptcy filings are the highest they have been since 2005. Filings increased to 770,117 nationwide- an increase of 14 percent from the first six months of 2009. The number of filings in June 2010 was 8 percent higher than the number in June 2009. This is the largest number of bankruptcy filings since the Bankruptcy Abuse Prevention and Consumer Protection Act were created in 2005.
However, over the past six months, bankruptcy filing have fallen month-to-month. Bankruptcy filings in June were down 7 percent from May, showing a decrease in filings for the third consecutive month in a row.
Experts estimate 1.6 million bankruptcy filings by the end of the year.
If you or someone you know is considering filing for bankruptcy protection, contact the Milwaukee personal bankruptcy lawyers of DeLadurantey Law Office, LLC at 414-377-0518 to learn more about your rights.
Posted on July 14th, 2010
This past June’s report of bankruptcy claims trading shows numbers on the decline for the second month in a row. In April, bankruptcy claims trading reached a record high at $3.65 billion. In June, claims trading fell to $2.1 billion. Furthermore, the number of trades fell to 816 in June, compared to the 917 in May.
Bankruptcy cases with the highest number of claims trading included Chemtura Corp., Tribune Co., Flying J Inc., Smurfit-Stone, and Lehman Brothers Holdings Inc.. Lehman Brothers had the highest number of trading claims at 224 and almost $2 billion.
Chris Moon, director of the bankruptcy claims market at SecondMarket, cited the “summer slowdown”, a decrease in the number of big cases filed, and many businesses coming out of chapter 11 bankruptcy as reasons for the decline.
If you or someone you know are considering filing for bankruptcy protection, contact the Milwaukee bankruptcy attorneys of DeLadurantey Law Office, LLC at 414-377-0518 to learn more about your rights.
Posted on July 9th, 2010
Statistics show that foreclosures are on the decline in Wisconsin. This past June, the number of foreclosures in Wisconsin was down by 13.4 percent compared to June 2009. The 2,150 foreclosure cases last month are the lowest number of cases in a month so far this year. Furthermore, the total foreclosures in the first half of this year is down 1.1 percent from the first six months of last year.
Still, many believe the decrease in foreclosure filings is not very telling considering how high the number of foreclosures had gotten in recent years. An economics professor at the University of Wisconsin Whitewater stated, “With foreclosures, we will continue bouncing across the bottom until we see unemployment go below 8 percent”. In May, Wisconsin’s unemployment rate was 8.2 percent.
If you or someone you know is facing foreclosure, contact the Milwaukee foreclosure defense lawyers of DeLadurantey Law Office, LLC at 414-337-0518 to learn more about your rights.
Posted on July 6th, 2010
According to the Milwaukee Journal-Sentinel, nearly 1,400 struggling residents filed for a little-used debt-amortization option known as Chapter 128, which allows debtors to consolidate unsecured debts and spread them out over an extended period of time. The individuals may be able to consolidate utility bills and credit card debts and will typically pay attorneys fees on top of the reworked payments. This debt-relief option may be a helpful option for some individuals, but some experts believe that bankruptcy may be a better option for some people, because it provides more protection for the debtor than filing for Chapter 128 would.
If you are struggling to make ends meet, it is important to consider all of the options available to you. Contact an experienced Milwaukee bankruptcy attorney of DeLadurantey Law Office at 414-377-0518 today.
