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September 2011 Archives

Vandercar CEO filing Chapter 11 bankruptcy

It seems that the downturn in the economy is not only affecting the little guy, but also multi-millionaires as well. Recently, the head of Vandercar Holdings made the decision to file for Chapter 11 personal bankruptcy. Under Chapter 11 bankruptcy, the CEO will be able to partake in asset liquidation in order to repay any personal and business debts. However, the principal of Vandercar is still intending to build a movie theater and shopping center.

Commercial bankruptcy: The best laid plans often go awry

It doesn't matter how well something is planned out, things may still go wrong. Such is the case for one man, best known for developing the Levis Commons retail, housing and entertainment complex. Originally, the forward thinking developer had plans to retire at age 53 -- but he's now 55 and on the verge of commercial bankruptcy.

Texas-size personal bankruptcy occurs in other states

$32.7 million is a colossal amount at a personal level, even for the booming Reno or Las Vegas. For us, here in Tennessee, such an amount at a personal level is nearly unheard of. Yet that is the amount a small-time property developer has listed as his gross liability in a personal bankruptcy filing.

Personal bankruptcy not a stigma for one mayoral hopeful

Buffeted by the ill winds of divorce and alimony, paying a portion of his son's college expenses and daughter's medical bills, one city's mayoral candidate's finances finally fell apart. So much so that he had to file for Chapter 13 bankruptcy. Now, running for mayor in a midwestern city, he has displayed resolve and candor by speaking frankly about his personal bankruptcy.

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