Michigan based trucking company, Gainey Corp. is filing for bankruptcy under Chapter 11. This allows the company to structure a repayment plan while keeping creditors at bay.
The company failed to repay over $238 million of a $260 million loan from Wachovia. Wachovia filed a suit against the company shortly after they defaulted.
Financial crises are becoming […]
Entries Tagged as 'Wachovia'
Gainey Corp. Files for Bankruptcy
October 15th, 2008 · No Comments
Tags: Boca Raton Bankruptcy Attorney · Boca Raton Bankruptcy Lawyer · Boca Raton Chapter 7 Bankruptcy Lawyer · Boca Raton File Bankruptcy Lawyer · Chapter 11 bankruptcy · Florida bankruptcy · Palm Beach Bankruptcy Attorney · Palm Beach Bankruptcy Lawyer · Wachovia · West Palm Beach bankruptcy lawyer
Another One Bites the Dust: Citigroup to Take Over Wachovia
September 29th, 2008 · No Comments
Wachovia Corp. will be acquired by Citigroup Inc. for about $2.16 billion after shares of the North Carolina lender collapsed under unpaid mortgages.
Ranked sixth by assets in the U.S., Wachovia’s all-stock deal wraps up at about $1 a share. All depositors will be protected, according to the Federal Deposit Insurance Corp.
Citigroup is the biggest U.S. […]
Tags: Bank closing · Citigroup · South Florida Bankruptcy Attorney · South Florida Bankruptcy Lawyer · South Florida debt management · Wachovia