South Florida Bankruptcy Lawyer

John McGill, owner of McGill Property Group in Jupiter, has filed for Chapter 11 bankruptcy. He filed on May 15 citing $140 million in debt caused by personal guarantees for bank loans on several shopping center developments.
McGill also claimed $18 million in assets. Another large reason for the filing was a default on payment from [...]

[Read more →]

Psystar, a company that attempted to market Macintosh clones, has filed for Chapter 11 bankruptcy protection. The filing puts a stay on legal action taken by Macintosh against the Florida based company.
The filing will also reveal a list of creditors who funded the company. This will open those entities up to more litigation by Macintosh. [...]

[Read more →]

Ion Media Networks Inc filed for Chapter 11 bankruptcy protection on Tuesday saying that they had reached a restructuring agreement with debtors. The agreement involves converting all debts into equity.
In the filing, the company listed debts of over $1 billion and assets of as much as $10 million. Over 100 of the company’s subsidiaries also [...]

[Read more →]

Business bankruptcies in Canada have taken an unexpected turn for the better. Unlike the country’s consumer bankruptcies and bankruptcies in the US, Canada’s bankruptcy filings fell in the first quarter of 2009.
Because these bankruptcy filings fell, experts believe that Canada may have an easier time replacing jobs than they would have if their business bankruptcies [...]

[Read more →]

Spring Air has shut down its Tampa facility, laying off 157 employees in the process. The closing is a part of the company’s bankruptcy filing and precedes liquidation of all their assets. The company lost its financing as of April 28.
The Tampa closing is only the latest of Spring Air’s shutdown. They have already closed [...]

[Read more →]