Bankruptcy, Foreclosure & Loan Modification Posts in October, 2015

Horse Races at Chicago's Maywood Track a Thing of the Past?

Chicago's Maywood Park, a half-mile-long racetrack that has hosted harness racing events for the past 68 years, filed for bankruptcy alongside its sister track, Balmoral Park, in early summer 2015. The park wants to close its track early this year in an effort that, according to its bankruptcy plan, could save $165,000....
Continue Reading »

I Filed for Bankruptcy: Now What?

You made an important decision about managing your debt. You filed for bankruptcy. Whether you filed for Chapter 7 or Chapter 13 bankruptcy, you sought help from the court to get your debt under control. Now, here you are after bankruptcy. You might not know how to live without debt or how to avoid going into debt again. If this is the case, do not be afraid....
Continue Reading »

American Apparel Seeks Chapter 11 Bankruptcy Protection

American Apparel, the popular brand of American-made casual wear, filed for Chapter 11 bankruptcy in October of 2015. The term “Chapter 11 bankruptcy protection” can be a bit misleading – the company did not file for anything that will protect it from bankruptcy. Rather, it filed for the type of bankruptcy that allows a company to reorganize to hopefully become profitable in the future....
Continue Reading »
  • Newland & Newland LLP, Attorneys, Arlington Heights, IL