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Race for the Cure is this weekend

Posted on January 24th, 2012 No Comments

The West Palm Beach bankruptcy attorneys of Eric N. Klein & Associates, P.A. would like to announced that this Saturday is South Florida’s annual Susan G. Komen Race for the Cure in West Palm Beach. Two weeks ago, the Royal Park Bridge was lit in pink to recognize the coming two weeks of events supporting the Susan G. Komen organization’s fight against breast cancer.

The founder of the organization, Susan G. Komen’s sister Nancy Brinker, lives in Palm Beach, and attended the lighting of the bridge with the mayors of both West Palm Beach and Palm Beach.

The 2012 Komen South Florida Race for the Cure will begin at Flagler Drive. According to Susan G. Komen for the Cure, every year, about 1 in every 8 women in the U.S. will be diagnosed with breast cancer.

To read more about this weekend’s Race for the Cure, visit the Susan G. Komen for the Cure South Florida website.

Trailer Bridge and creditors agree on reorganization plan

Posted on January 18th, 2012 No Comments

This week, Trailer Bridge and its creditors were able to reach an agreement on a debt reorganization and repayment plan. The company filed for Chapter 11 bankruptcy in November with $82.5 million in unpaid bonds.

Trailer Bridge is a shipping company based in Jacksonville. It continues to send 4 ships to the Dominican Republic and Puerto Rico twice a week, and has not had to lay off employees during their bankruptcy.

According to the court documents, the agreement states that Trailer Bridge’s note holders will own 91 percent of the company. In addition, Trailer Bridge will pay its creditors a pro-rated amount of $65 million.

To learn more about restructuring debt under Chapter 11 bankruptcy, contact the West Palm Beach Chapter 11 bankruptcy attorneys of Eric N. Klein & Associates, P.A. by calling 561-353-2800 today.

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Bankruptcies in South Florida decrease in 2011

Posted on January 9th, 2012 No Comments

In 2011, personal bankruptcy filings in South Florida decreased for the first time since 2007.

In Palm Beach, Miami-Dade, and Broward counties, 34,492 individuals filed for bankruptcy protection last year. In 2010, 38,000 people filed for bankruptcy in the tri-county region.

Last month, 2,470 bankruptcies were filed in South Florida–a month-to-month decrease of 9 percent.

Bankruptcy analysts believe that last year’s decrease in bankruptcy filings in South Florida was caused by high unemployment and slowed foreclosure processes by banks.

Across the country, personal bankruptcy filings decreased by 12 percent in 2011. Last year, about 1 in every 175 people in the U.S. filed for bankruptcy.

Contact the West Palm Beach bankruptcy lawyers of Eric N. Klein & Associates, P.A. by calling 561-353-2800, if you or someone you know has questions about filing for personal bankruptcy in West Palm Beach.

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Saab files for bankruptcy

Posted on December 22nd, 2011 No Comments

After two years of struggling to revive the company, the chief executive of the Swedish automaker Saab filed for bankruptcy on Monday.

What started as a fighter jet producer, Saab only sold 5,305 vehicles in the United States this year. In its last efforts to survive, Saab attempted to transfer technology to Chinese investors; however, General Motors, who owns some of Saab’s technology licenses, would not allow the transfer.

Analysts do not expect Saab’s demise to affect the auto market. The Swedish company is anticipated to be liquidated with GM buying up its patent rights to use on its existing models or to possibly create new vehicles.

If you or someone you know is considering filing for bankruptcy or has questions about the process, contact the West Palm Beach bankruptcy lawyers of Eric N. Klein & Associates, P.A. at 561-353-2800 today.

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Winter boat parades begin in South Florida

Posted on December 12th, 2011 No Comments

On Saturday, this year’s winter boat parades began in South Florida. The Seminole Hard Rock Winterfest Boat Parade took off from the Fort Lauderdale riverwalk and traveled up the New River to Lake Santa Barbara.

The 40th annual parade featured the theme “Rockin’ Boats & Holiday Floats.” A variety of different kinds of boats were decorated for the holidays for the event. A 160-foot Coast Guard boat led the parade.

The following evening, boats in the Pompano Holiday Beach Boat Parade floated from Lake Santa Barbara along the Intracoastal Waterway to the Hillsboro Boulevard Bridge.

This coming Saturday, the Boca Raton Holiday Boat Parade will begin at 6:30 p.m. at the C-15 canal. The parade will travel 6 miles south to the Hillsboro Boulevard Bridge.

The West Palm Beach bankruptcy attorneys of Eric N. Klein & Associates, P.A. hope everyone enjoys their holidays.

(Source)

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American Airlines enters Chapter 11 bankruptcy

Posted on December 5th, 2011 No Comments

This year’s higher fuel costs caused American Airlines to filed for Chapter 11 bankruptcy last week. The airline contemplated filing for bankruptcy for about a decade as they have been unable to achieve a year-end profit only once since 2000.

American Airlines has lost more than $11 billion since 2001. Now, the company has about $4.1 billion in cash and investments. As the airline reorganizes, executives are insisting that customers should not notice a difference in flight schedules, frequent flier programs, or customer service.

According to the Chapter 11 bankruptcy filing, Miami-Dade County is American Airline’s second largest creditor besides lenders. The county is owed $29 million.

If you would like to speak with an attorney about the benefits of filing for Chapter 11 bankruptcy, contact the West Palm Beach Chapter 11 bankruptcy attorneys of Eric N. Klein & Associates, P.A. at 561-353-2800 to discuss your situation with one of our experienced bankruptcy lawyers.

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TLC singer files bankruptcy for second time

Posted on November 28th, 2011 No Comments

TLC singer Tionne Watkins, or T-Boz, recently filed for personal bankruptcy. According to the filing, Watkins owes $768,643 to creditors.

In addition, the filing shows that the four-time Grammy award winner only receives about $1,200 a month in royalties from the music she produced with TLC. She currently has a monthly income of about $11,700, but spends about $8,821 a month.

The majority of the singer’s debt is related to a mortgage on a $1.2 million house. Watkins’s financial troubles are also related to about $250,000 in owed child support from her ex-husband, rapper Mack 10.

The singer first filed for bankruptcy in 1995 with the band. The Chapter 11 bankruptcy surprised many TLC fans because it came at about the same time as the peak of the group’s success.

To speak with an attorney about the bankruptcy process, contact the West Palm Beach bankruptcy lawyers of Eric N. Klein & Associates, P.A. by calling 561-353-2800 today.

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Trailer Bridge Inc. files for Chapter 11 bankruptcy

Posted on November 22nd, 2011 No Comments

Last Wednesday, Trailer Bridge Inc. filed for Chapter 11 bankruptcy listing $118 million in liabilities. The marine freight shipping company sends products to and from Puerto Rico.

Executives with Jacksonville-based Trailer Bridge filed the bankruptcy at the U.S. Bankruptcy Court for the Middle District of Florida. In the Chapter 11 bankruptcy filing, Trailer lists $102.7 million in assets.

“While not an easy decision, we are confident that restructuring our business and capital structure will allow us to continue to provide reliable, uninterrupted service to our customers,” said the company’s CEOs. Under Chapter 11 bankruptcy, Trailer will have to submit a reorganization plan for approval of the court and at the same time, the business can continue operating.

If you or someone you know is considering reorganizing a business under Chapter 11 bankruptcy, contact the West Palm Beach Chapter 11 bankruptcy lawyers of Eric N. Klein & Associates, P.A. at 561-353-2800 to learn more about how we can help you.

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Bankruptcies drop in fiscal 2011

Posted on November 14th, 2011 No Comments

Bankruptcies decreased by 8 percent in fiscal 2011, according to the American Bankruptcy Institute. In the first 9 months of this year, 1.47 million consumers and businesses filed for bankruptcy in the U.S.

Bankruptcies filed by businesses decreased by 18 percent from 2010. These include Chapter 7, 11, 12, and 13 filings.

Consumer bankruptcies dropped by 11 percent. 1.06 million bankruptcies were filed by individuals from January through September of this year.

Researchers determined that the state with the highest per capita bankruptcy rate was Nevada. Approximately 9.7 out of every 1,000 Nevada residents has filed for bankruptcy in fiscal 2011.

The ABI used data from the Administrative Office of the U.S. Courts in their analysis.

If you are considering filing for bankruptcy, contact the West Palm Beach bankruptcy attorneys of Eric N. Klein & Associates, P.A. at 561-353-2800 to speak with one of our experienced bankruptcy lawyers today.

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Personal bankruptcy down for 4th consecutive month

Posted on November 7th, 2011 No Comments

According to the American Bankruptcy Institute and the National Bankruptcy Research Center, personal bankruptcies were down for the fourth consecutive month in October. 2.1 percent fewer personal bankruptcy filings were filed in the U.S. in October than in September.

The 106,255 personal bankruptcies filed across the country last month were also down by 19.6 percent from a year before in October 2010. Officials cite a decrease in the use of credit and a restriction in lending from banks as reasons for the decrease in bankruptcy filings.

“The declining filings correlate to tightened consumer spending and the overall pullback in consumer credit associated with a stagnant economy,” said ABI executive director Samuel Gerdano.

If you or someone you know has questions about filing for bankruptcy and would like to speak with an experienced bankruptcy attorney, contact the West Palm Beach bankruptcy lawyers of Eric N. Klein & Associates, P.A. by calling 561-353-2800 today.

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