business bankruptcy

A Connecticut town is the recipient of a sizeable check after a bankruptcy court determined its claim against a power plant had priority over other creditors. The plant filed for Chapter 7 bankruptcy slightly over a year ago and had to lay off its entire workforce. Before its bankruptcy, the power plant contributed the largest amount of taxes to the town, totaling over $1 million annually.

Connecticut business owners may currently be feeling the pinch of tough economic times. When the financial strain becomes too much, owners may seek the protection that Chapter 7 bankruptcy can offer. Recently a biomass producer, apparently experiencing massive financial strain, did just that.

A sigh of relief has gone through Connecticut and Twinkie lovers across the nation, however short-lived it may be. A judge noticed Hostess and its second largest union had not gone through private mediation before the company's Chapter 7 bankruptcy filing. The two will now take the step of mediating soon, but if they cannot come to an agreement liquidation will resume. The company had been struggling for several years and the Chapter 7 is its second bankruptcy attempt in less than 10 years.

For Connecticut business owners, events may occasionally occur that cause a company to fall deep into debt. When this occurs, Chapter 7 bankruptcy is often a viable option. In recent news, a woman at the center of a criminal investigation has filed for bankruptcy in federal court.

For Connecticut business owners, events may occasionally occur that cause a company to fall deep into debt. When this occurs, Chapter 7 bankruptcy is often a viable option. In recent news, a woman at the center of a criminal investigation has filed for bankruptcy in federal court.

Connecticut gamers may have already heard of the financial woes experienced by the video game company 38 Studios. Now, the company has sought Chapter 7 bankruptcy protection. It's owned by former Red Sox pitcher, Curt Schilling. Several factors weigh into any decision to declare Chapter 7 bankruptcy, but the company could not find a resolution to its current financial situation and has let all of its employees go.

A baby stroller company with its headquarters in Norwalk, Connecticut, recently filed for bankruptcy following a product recall of about a million of its strollers. The company, Maclaren, is internationally renowned for its strollers, which are often seen in well-to-do neighborhoods. The company has units in Europe, Hong Kong and North America, but the U.S. unit filed for Chapter 7 bankruptcy late last year.