Ireland-based Nordic Aviation Capital is at least the ninth big corporation to bring its bankruptcy case to Richmond’s federal court since the start of the pandemic.
Debt-laden airplane leasing giant has bankruptcy stopover in Richmond
bankruptcy
Former LeClairRyan attorney Matson starts 44-month sentence immediately
A key question during Monday’s hearing was why the former attorney and bankruptcy trustee would steal millions of dollars only to let the funds sit unspent in a bank account.
Firm kept lawns green but landed in the red
On the hook for millions with several banks and facing lawsuits in Chesterfield County, a local irrigation company has filed for Chapter 7 bankruptcy.
Chesapeake sold for $485 million, HQ moving to UK
Chesapeake Corp., the Richmond-based paper packaging company, announced today its planned acquisition by New York-based Irving Place Capital Management and Los Angeles-based Oaktree Capital Management has been completed for $485 million. The company’s headquarters will move from Richmond to Amersham in the United Kingdom. The company, which began as a pulp mill in West Point,… Read more »
Contractor sues Qimonda over unpaid invoices
Richmond-based ColonialWebb Contractors filed a lawsuit against Qimonda seeking $369,495 in unpaid invoices. The lawsuit was filed in Henrico County District Court last Monday. Qimonda announced that it was shutting down all operations at its Sandston manufacturing facility the next day. According to the filing, ColonialWebb was contracted by Qimonda in December 2006 to service… Read more »
S&K Menswear files Chapter 11 Bankruptcy
Richmond-based men’s clothier S&K Famous Brands, Inc has filed for Chapter 11 Bankruptcy Protection in an effort to get out of leases, trim costs, and prevent further erosion of vendor confidence. The company lists assets of $41,440,100 and debts of $35,499,000 (not including operating leases). There will be a hearing at 2:00 today in Richmond.
Getting stiffed
Hurry up and wait. That’s the only option for local businesses owed money by bankrupt Circuit City and LandAmerica. More than 1,000 entities are owed money by Circuit City, according to a list of creditors filed with the bankruptcy court in Richmond, and the money from a liquidation sale might not yield enough money to… Read more »
Will the number of bankrupt Richmonders (and businesses) keep rising?
One Richmond bankruptcy lawyer says personal and business bankruptcy filings are likely going to rise higher in coming months as credit remains tight and the economy sluggish.
Anyone know Embassy Row Properties?
A company called Embassy Row Properties, LLC filed for Chapter 7 Bankruptcy in Richmond. I can’t find any info on them. Do they own any local developments?
A flood of bankruptcies could sink more boats
Spurred by housing sector woes and the ensuing credit crunch, bankruptcies around Richmond are spiking to the highest levels in a decade. Most filers in the area are individuals who can no longer tap equity in their homes to pay off credit cards. But the enormous rise in bankruptcies is also spilling over to the… Read more »