Personal Injury attorney Pasadena – Premier Cru bankruptcy proceedings

Posted by on Mar 2, 2016 in Law, Personal injury attorney |

A glass of a good wine at the end of the tiresome day is a thing we all need sometimes. Premier Cru fine wine’s owner John Fox surely needs one right now. Fine wine retailer store currently filed for Chapter 7 bankruptcy since debts of this company has exceed the amount of seventy million dollars, which is ,you can admit, a very large sum.

Other than bankruptcy and debts John Fox has several more problems all connected to the Premier Cru fine wine store and as it seems he is not so innocent. John Fox filed for bankruptcy just a little earlier this month, while the Premier Cru filed for bankruptcy just a few weeks before.

This company official financial status involves debt of seventy million dollars and a little more than seven million dollars in assets. John Fox stated that his debt exceeds $100 million but that his assets are worth somewhere between zero and fifty thousand dollars.

ribbon-cutting-premier-Cru-200x150Chapter 7 Bankruptcy attorney dallas said that there were more than dozen of unsatisfied customers of this store that were planning to file a lawsuit against John Fox and Premier Cru if they did not already fill it. Apparently customers ordered and paid for their wine that they never received, some of them were complaining about the low quality of wine. These customers all have their own lawyers and the total damage claims exceed 3 million dollars. It seems like bankruptcy was not the only problem that tortured John Fox’s mind.

The worst problem of all is that John Fox is now on the trial due to his customers claims that he is leading a wine retailer pyramid scheme. Unofficially there were some statements that John Fox will use his Fifth Amendment Constitutional right that includes the right not to testify and incriminate himself.
Currently, the FBI is leading an investigation in a purpose of revealing what exactly is behind this Premier Cru wine retailer store, are the statements made by unsatisfied customers true and is there really Ponzo scheme even in wine retailer business.

Until further notice John Fox will stay the number 1 subject of ongoing federal investigation.

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Dallas Bankruptcy Attorney  – Highest risk of bankruptcy of Oil and Gas companies

Posted by on Mar 2, 2016 in Bankruptcy Attorney, Law |

A large number of Americans are employed in Oil and Gas companies which justify the panic of the people when they hear that these exact companies have the highest risk of bankruptcy. As the new researches say, about 35% of these companies already have had the highest risk of bankruptcy. The remaining companies are not in such a critical condition but they are not in an enviable position either

130796John England recently confirmed that the number of these companies is currently 175, contrary to the popular opinion the only problem in these companies is not a large debt they have towards different creditors, it is the inability to even pay interest on those loans they took. In the previous year these companies somehow fought their survival on the market despite enormous debts they had, this year probably won’t end the same way, just the opposite these companies would have to bring hardest decisions about their business.

These, the hardest decisions the companies would have to bring are primarily referring to laying off a certain number of employees, which can be stressful and eventually lead to dysfunctional business, selling assets or the whole companies. Whichever of these options they chose, survival certainly won’t be easy.

Article13178dallas Bankruptcy attorney says that even if they fulfill these measures the risks of bankruptcy would still be high, almost with certainty you could say that 50 of these 175 companies  will eventually go bankrupt. Almost every of these 50 companies and firms has an excess debt of about billion dollars. Daily bankruptcies won’t be a strange thing if nothing changes in this companies. Mergers and acquisitions are also an option for avoiding bankruptcy in this time, and there will be a lot of mergers in the future as it seems.


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Chicago bankruptcy attorneys – An end to Caesars bankruptcy

Posted by on Mar 2, 2016 in Bankruptcy, Law |

Caesars Entertainment Inc is a company you surely heard about no matter where you are – it is the largest and the most popular owner of the casinos all over the World. Its geographical diversity and the presence of the Caesars casinos wherever you are heading to is the reason why every person would want to visit it just once and try his luck in this luxurious company. Caesars palace in Las Vegas is the place every tourist has to see when traveling to LA.

Unfortunately, Caesars Entertainment recently coped with bankruptcy and the public opinions on its outcome are divided. However, experts recently announced that there might be a way to put an end to this struggle revocable trust.

chicago bankruptcy attorneys together considered the conditions and ways to overcome bankruptcy problems of this corporation, recently examiners and attorney Richard Davis supposedly found the best way to end this problem, details were shared with Chicago bankruptcy court.

The problems were determined to be between Caesar and its operating units. Allegedly, there were disputes among the creditors who did not consider operating units actions were appropriate. CEOC of Caesars Entertainment issued the new restructuring plan with the purpose of finding new and trusted creditors and keeping the old ones under any circumstances.
Judge Benjamin Goldgar is in charge to watch how CEOC restructuring and reorganization plans are progressing. This judge assessed Davis’ plan as the right one since it is directed on harmonization of creditors’ opinions concerning bankruptcy exit strategies.
principal_2015011902593674576cacb926ecdafef000c1ab07d190Even though the judge gave his full approval of this strategy, law professors from all around the America argue the success of this strategy, their opinion is that efforts to try and reconcile creditors and harmonize their opinions will only result with more things to argue about.

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