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(“Mega” or the “Debtor”) bankruptcy highlights the interplay between an overzealous lender and a repentant business owner who came together to cooperate and provide a windfall recovery to unsecured creditors.
Any failure to designate a claim listed on the Schedules of Assets and Liabilities ("Schedules") of a client of KCC (a "Debtor") as "disputed", "contingent", or "unliquidated" does not constitute an admission by the Debtors that such amounts are not "disputed", "contingent", or "unliquidated".
Further, Debtors reserve the right to amend their Schedules and Statements of Financial Affairs as necessary and appropriate.
On January 12, 2014, bondholders filed an involuntary chapter 11 petition against the operating company, Caesars Entertainment Operating Company, Inc. Government […] The Second Circuit has spoken: “We conclude that although the termination statement mistakenly identified for termination of a security interest that the lender did not intend to terminate, the secured lender authorized the filing of the document, and the termination statement was effective to terminate the security interest.”[i] As a result, JPMorgan Chase & Co.
(“CEOC”), in the United States […] The scene is Detroit, and the time is early 2009. Years of multi-billion dollar losses and mounting pension obligations have taken their toll on GM, and it is looking in to filing a chapter 11 bankruptcy as a means of becoming solvent once again. […] The city teeters on the edge of insolvency, as do many other nearby municipalities, as well as the State of Illinois itself.
Mega RV was founded in 2000 by Mike Mc Mahon as Mc Mahon’s RV.