Bankruptcy, Foreclosure & Loan Modification Posts in January, 2016

Quiksilver Approved to Leave Chapter 11 Protection

Surfwear brand Quiksilver, Inc., which owns apparel brands Roxy and DC shoes, was granted permission to exit Chapter 11 bankruptcy in late January 2016. The California-based apparel and retail company filed for Chapter 11 bankruptcy in 2015 after years of slumping sales, largely due to the rise of fast fashion brands like H&M and a decreased interest in the surf and skate lifestyle....
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Four Ways Bankruptcy Can Follow You for Years

Filing for bankruptcy could be one of the best decisions you ever make, but it is a decision that has consequences and should not be taken lightly. In fact, bankruptcy might not be the right choice for you, depending on your circumstances. Before making any drastic decisions about how to manage your debt, consult with an experienced bankruptcy attorney. Keep these long-term consequences in mind as you learn more about the topic. Bankruptcy Stays on Your Credit Report for Years...
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Considering Bankruptcy? Know How it Can Affect Your Divorce Settlement

Bankruptcy and divorce can easily become intertwined. For some individuals, going through the divorce process is so costly that they need to file for bankruptcy afterward to get a handle on their debt. For others, debt and money problems during a marriage are what drives their spouses away, causing them to seek divorces. If you are currently going through a divorce and considering filing for bankruptcy, or you have previously been divorced and are unable to meet your debts, know how one of these issues can affect the other....
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Eliminating Your Tax Debts Through Bankruptcy

You know that bankruptcy is a tool used to reduce overwhelming levels of debt. If you are struggling with significant debt, you have probably considered filing for bankruptcy as a way to reduce your debt. You might also know that only certain types of debt can be eliminated through bankruptcy. What are those types of debt? Which types of debt can be released, and which will stay with you after you work to repay your debts through either a repayment plan or a liquidation of your nonexempt assets?...
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KaloBios Pharmaceuticals, Inc. Files for Bankruptcy Following Shkreli's Dismissal

2015 brought us a lot of new celebrity faces. Some were inspiring, some were funny, and others collectively made us sad or even angry. For many Americans, Martin Shkreli, former CEO of KaloBios Pharmaceuticals, Inc., fit into this last category. He is perhaps best known for dramatically raising the per-tablet price of Daraprim, an anti-malarial and antiparasitic, from $13.50 to $750 after his other company, Turing Pharmaceuticals, acquired its patent....
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  • Newland & Newland LLP, Attorneys, Arlington Heights, IL