Bankruptcy News
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La Habra -
"Octomom" Nadya Suleman filed for bankruptcy Monday with as much as $1 million debt. She said: "I've had to make some very difficult decisions, filing Chapter 7 was one of them. But I have to do what is best for my children and I need a fresh start."
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Washington -
A report published Monday afternoon states that the United States' Social Security and Medicare funds will be completely gone by the year 2035 and eventually reduce its benefits payments to seniors unless Congress intervenes.
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Crippled by a staggering legal judgment, a California town and resort area, a popular training destination for Olympic athletes, faces bankruptcy throwing the town's future into question.
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Miami -
Former NFL star Warren Sapp has reportedly filed for Chapter 7 bankruptcy protection in South Florida last week. He owes millions of dollars to creditors and in back child support. Sapp has become one of the many pro athletes to go broke.
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Wilmington -
Ground beef processor AFA Foods filed for bankruptcy protection on Monday, citing negative media publicity over "pink slime," the ammonia-treated beef filler which the company sells as finely textured beef.
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As the Newark Group plans for their one-hundred years of innovation anniversary, a troubled past lessens the hope that they will be around for another ten years, let alone one-hundred more.
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In a speech to the nation on Saturday night, the Greek Prime Minister outlined the consequences of the latest bailout measures not being ratified in parliament.
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New York -
American Airlines has confirmed to its unions Wednesday that it is cutting 13,000 jobs from its workforce of 88,000. The No. 3 airline in the United States is conducting cost-saving measures to emerge from bankruptcy.
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San Diego -
Leigh Steinberg, known as the first super agent and who has represented some of the NFL's biggest stars, has filed for bankruptcy protection. Steinberg's attorneys filed for the Chapter 7 bankruptcy petition in federal bankruptcy court this week.
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The iconic camera company Kodak will soon seek bankruptcy protection, according to media reports. Kodak will also try to sell its 1,100 patents through a court-supervised auction.
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Bankruptcy Headlines
Japanese chipmaker Elpida files for bankruptcy protection as it struggles to repay debts of 448bn yen.
 A bankruptcy court judge in Delaware has approved the Los Angeles Dodgers' reorganization plan, a move that allows the team to exit bankruptcy.
Lehman Brothers, the US investment bank that collapsed in 2008, exits bankruptcy protection to sell its remaining assets.
 Eastman Kodak, the company that invented photography as we know it, has filed for
Chapter 11 bankruptcy protection as it seeks to boost its cash position and stay in business.
US photography firm Eastman Kodak, the 133-year old company that invented the hand-held camera, files for bankruptcy protection.
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