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May 2012 Archives

Company with big plans files for Chapter 11 bankruptcy protection

A company that was started with dreams of becoming a national wireless carrier filed for Chapter 11 bankruptcy recently, hoping to buy time to get its financial obligations in order and continue toward those lofty goals. Business owners in Escondido may be interested to hear of how the business intends to buy time for restructuring.

Tribune Co. continues through Chapter 11 bankruptcy process

Tribune Co., a national media company that owns local news outlets including television stations in San Diego and Los Angeles, as well as The Los Angeles Times, is currently going through Chapter 11 bankruptcy. Last week, as part of the bankruptcy process, a federal judge ruled that Tribune was allowed to pay up to $45 million in bonuses to company managers as part of an incentive program.

Chapter 7 bankruptcy leads to auction of California mega-mansion

Newport Coast, the stretch of California between San Diego and Los Angeles, is one of the most coveted places to own property in the world, claiming Tiger Woods, John Wayne, and Shirley Temple as past residents. And these are just a few examples of the exclusive nature of living in this particular area of the country. However, one piece of property there, once valued at around $87 million, will soon be sold at a bankruptcy auction.