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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

  • 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.

  • SandRidge Energy files to reorganize $3.7 billion in debt

    Mon, 16 May 2016 18:58:20 GMT

    OKLAHOMA CITY (AP) — SandRidge Energy says it intends to reorganize its debt under U.S. bankruptcy laws, proposing to convert $3.7 billion of long-term debt into equity while allowing the company to keep its operations going.

  • Q&A: How Michigan lawmakers differ on Detroit school revamp

    Thu, 05 May 2016 22:38:04 GMT

    LANSING, Mich. (AP) — The fate of Detroit's debt-ridden school district rests with the Michigan Legislature, where lawmakers have passed widely different restructuring plans and have just six weeks to resolve their differences before a summer adjournment.

  • The Latest: Michigan panel approves Detroit school plan

    Tue, 03 May 2016 17:14:16 GMT

    LANSING, Mich. (AP) — The Latest on the sick-out by teachers that's closed dozens of Detroit schools on Tuesday (all times local):

  • Q&A: Puerto Rico's debt crisis, what it means for muni bonds

    Mon, 02 May 2016 21:10:50 GMT

    NEW YORK (AP) — Puerto Rico's worsening debt crisis is dimming the economic outlook for the U.S. territory and putting pressure on Congress to help resolve the situation but it is having little effect on the market for municipal bonds and most investors.

  • Q&A: Puerto Rico's debt crisis explained

    Mon, 02 May 2016 18:40:23 GMT

    NEW YORK (AP) — Puerto Rico's worsening debt crisis is dimming the economic outlook for the U.S. territory and putting pressure on Congress to help resolve the situation but it is having little effect on the market for municipal bonds and most investors.

  • Puerto Rico skips bond payments, says Congress must help

    Mon, 02 May 2016 17:20:25 GMT

    SAN JUAN, Puerto Rico (AP) — Puerto Rican officials warned Monday the island's default on a $422 million bond payment is only the beginning if the U.S. Congress doesn't help resolve the situation soon.

  • Puerto Rico won't make $370 million in debt payments Monday

    Mon, 02 May 2016 13:03:57 GMT

    SAN JUAN, Puerto Rico (AP) — Gov. Alejandro Garcia Padilla announced that Puerto Rico's government will not make nearly $370 million in bond payments due Monday after a failure to restructure or find a political solution to the U.S. territory's spiraling public debt crisis.

  • Gov: Puerto Rico braces for lawsuits as major default looms

    Fri, 29 Apr 2016 23:00:16 GMT

    SAN JUAN, Puerto Rico (AP) — Puerto Rico's governor said Friday that the U.S. territory is bracing for multiple lawsuits as a major default looms over a $470 million bond payment.

  • Current, former Detroit principals charged in bribery case

    Thu, 28 Apr 2016 17:38:59 GMT

    DETROIT (AP) — The U.S. Attorney's office has charged 12 current and former Detroit Public Schools principals, one district administrator and a long-time vendor with conspiracy to commit bribery in school supply kickback schemes. The following lists their names, schools and kickback amounts, along with details of personal financial problems:

  • House GOP reworking Puerto Rico bill as conservatives balk

    Fri, 15 Apr 2016 19:39:12 GMT

    WASHINGTON (AP) — Faced with opposition from conservatives, House Republicans said Friday they are rewriting legislation to help Puerto Rico out of its $70 billion debt.

  • Ryan: Congress needs to bring order to Puerto Rico crisis

    Thu, 14 Apr 2016 22:36:19 GMT

    WASHINGTON (AP) — House Speaker Paul Ryan said Congress needs to "bring order to the chaos" in Puerto Rico and prevent U.S. taxpayers from having to eventually bail out the territory, which is facing a $70 billion debt.

  • Trooper who police say killed 2 filed for bankruptcy in 2015

    Mon, 21 Mar 2016 16:32:39 GMT

    HARRISBURG, Pa. (AP) — Court records show a retired state trooper who police say fatally shot two Pennsylvania Turnpike workers and robbed an armored car collecting fare money filed for bankruptcy last year and had been accused of domestic assault.