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Bankruptcy News

When people fall on hard times, it is sometimes necessary to file for bankruptcy. There are many different kinds of bankruptcy that have different effects on filers. Bankruptcy can help debtors work their way out from under large amounts of debt, but it can also seriously impact their lives and the lives of their families. For this reason, anyone considering filing for bankruptcy should weigh their options and consider whether bankruptcy is right for them. FindLaw’s Bankruptcy News section is the foremost source of legal news and analysis about bankruptcy, with breaking news, attorney articles and information from sources around the web.

Top Headlines

  • iHeartMedia, creditors reach debt restructuring impasse

    Sat, 02 Jul 2016 19:26:20 GMT

    SAN ANTONIO (AP) — One of the world's largest radio and billboard companies says it may have reached an impasse in its efforts to persuade creditors to restructure its massive debt.

  • Senate passes Puerto Rico rescue bill, sends to president

    Wed, 29 Jun 2016 23:23:10 GMT

    WASHINGTON (AP) — The Senate has passed a financial rescue package for debt-stricken Puerto Rico, sending the measure to President Barack Obama.

  • Trump Taj bankruptcy left many contractors angry

    Wed, 29 Jun 2016 07:40:49 GMT

    ATLANTIC CITY, N.J. (AP) — The contractor who provided the onion domes for the Taj Mahal casino had to eat $2 million in losses. The contractor who supplied the Carrara marble from Italy ended up filing for personal bankruptcy. The contractor who put in the bathroom partitions had to lay off his brother.

  • Trump Taj bankruptcy leaves 'little guy' contractors angry

    Wed, 29 Jun 2016 07:37:35 GMT

    ATLANTIC CITY, N.J. (AP) — Weak from heart surgery and a sepsis infection that would soon kill her, Patricia Paone was resting at home last summer when an apparition appeared on the TV — a famous businessman who had struck a deal with her husband years before.

  • 'Little guy' contractors still angry at Trump Taj bankruptcy

    Tue, 28 Jun 2016 21:33:13 GMT

    ATLANTIC CITY, N.J. (AP) — The contractor who provided the onion domes for the Taj Mahal casino had to eat $2 million in losses. The contractor who supplied the Carrara marble from Italy ended up filing for personal bankruptcy. The contractor who put in the bathroom partitions had to lay off his brother.

  • 'Dance Moms' star to 'accept responsibility' for fed charges

    Tue, 21 Jun 2016 13:22:09 GMT

    PITTSBURGH (AP) — "Dance Moms" star Abigale Lee Miller says she plans to "accept responsibility" for federal charges filed in Pittsburgh accusing her of failing to report Australian currency she brought into the country in 2014 and bankruptcy fraud charges.

  • 'Dance Moms' Abby Miller hit with foreign currency charge

    Tue, 21 Jun 2016 12:43:31 GMT

    PITTSBURGH (AP) — "Dance Moms" star Abigale Lee Miller, already facing federal bankruptcy fraud charges in Pittsburgh, has now been charged with failing to report Australian currency she brought into the country in 2014.

  • High court rules against Puerto Rico in debt case

    Mon, 13 Jun 2016 16:10:08 GMT

    WASHINGTON (AP) — The Supreme Court ruled Monday that Puerto Rico can't restructure more than $20 billion in public debt as it tries to overcome a decade-long economic crisis.

  • Latest: Snyder hopes to sign Detroit schools plan next week

    Thu, 09 Jun 2016 15:18:11 GMT

    LANSING, Mich. (AP) — The Latest on legislation to bail out Detroit's debt-ridden school district (all times local):

  • Q&A: Michigan passes $617 million revamp of Detroit schools

    Thu, 09 Jun 2016 06:11:43 GMT

    LANSING, Mich. (AP) — The Michigan Legislature has approved a $617 million restructuring of Detroit's debt-ridden school district — two years after the state bailed out the city to help end the country's biggest-ever municipal bankruptcy.

  • Latest: Snyder says Detroit schools bailout a 'fresh start'

    Thu, 09 Jun 2016 04:56:42 GMT

    LANSING, Mich. (AP) — The Latest on legislation to bail out Detroit's debt-ridden school district (all times local):

  • Bailout of Detroit schools moves forward in Legislature

    Fri, 03 Jun 2016 10:49:47 GMT

    LANSING, Mich. (AP) — Detroit's debt-ridden school district would receive a $617 million state bailout under a compromise restructuring plan that appears poised for final legislative votes and the governor's signature after winning narrow approval in the House.

  • The Latest: Snyder says Detroit schools plan 'progress'

    Fri, 03 Jun 2016 02:42:14 GMT

    LANSING, Mich. (AP) — The Latest on legislation to rescue Detroit's school district (all times local):

  • The Latest: House passes $617 million Detroit schools plan

    Fri, 03 Jun 2016 01:50:07 GMT

    LANSING, Mich. (AP) — The Latest on legislation to rescue Detroit's school district (all times local):

  • Report questions whether Puerto Rico debt issued illegally

    Thu, 02 Jun 2016 23:28:08 GMT

    SAN JUAN, Puerto Rico (AP) — A commission created to audit Puerto Rico's debt is questioning the legality of government-issued bonds in a report released Thursday, saying the struggling U.S. territory might not be responsible for paying a portion of the money owed.

  • Puerto Rico clears first hurdle with committee vote

    Wed, 25 May 2016 17:39:47 GMT

    WASHINGTON (AP) — A bipartisan deal to help Puerto Rico manage its crippling finances cleared its first hurdle Wednesday with approval from a Republican House committee.

  • Sports Authority is shuttering all stores amid bankruptcy

    Fri, 20 May 2016 19:37:08 GMT

    NEW YORK (AP) — Sports Authority, which filed for bankruptcy protection three months ago, is shuttering all 460 of its stores after it was unable to adapt to consumers' move online.

  • Relief and anger in Puerto Rico as Congress acts on debt

    Fri, 20 May 2016 10:01:11 GMT

    SAN JUAN, Puerto Rico (AP) — After months of pleading from Puerto Rico's government, the U.S. Congress has agreed to help the territory restructure its massive public debt. But it comes at a steep cost: a degree of lost sovereignty with the imposition of a fiscal control board as well as a potential lower minimum wage for young workers on the island.

  • Congress, White House strike rescue deal for Puerto Rico

    Thu, 19 May 2016 21:14:50 GMT

    WASHINGTON (AP) — House Republicans and Democrats reached a rare, election-year deal with the White House to try to rescue Puerto Rico from $70 billion in debt as millions of Americans in the cash-strapped U.S. territory struggle with the loss of basic services.

  • Puerto Rico governor puts road agency under emergency decree

    Wed, 18 May 2016 21:17:27 GMT

    SAN JUAN, Puerto Rico (AP) — Puerto Rico's governor on Wednesday again used a state of emergency decree to protect one of the island's struggling public agencies from lawsuits and preserve dwindling liquidity as the U.S. Congress works on a bill to restructure the island's $70 billion public debt.

  • Puerto Rico transportation agency under emergency state

    Wed, 18 May 2016 20:46:59 GMT

    SAN JUAN, Puerto Rico (AP) — Puerto Rico's governor on Wednesday again used a state of emergency decree to protect one of the island's struggling public agencies from lawsuits and preserve dwindling liquidity as the U.S. Congress works on a bill to restructure the island's $70 billion public debt.