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BANKRUPTCY
Hawaii bankruptcy filings jump 628 KHNL News 8 Honolulu Dauphin Island Condo Project in Bankruptcy NBC 15
Tue, 04 Nov 2008 23:53:09 +0000
Hawaii Decision Election Coverage Does It Work Cheap Eats Associated Press November PM ET HONOLULU AP Bankruptcy filings in Hawaii last month jumped . from the year earlier as residents struggle to make ends meet while the. var headline escape Hawaii bankruptcy filings jump . OpenWin Global Create Email Story.asp s Headline headline Summary summary width height toolbar no scrollbars resizable status Associated Press November PM ET HONOLULU AP Bankruptcy filings in Hawaii last month jumped . from the year earlier as residents struggle to make ends meet while the. var headline escape Hawaii bankruptcy filings jump . OpenWin Global Create Email Story.asp s Headline headline Summary summary width height toolbar no scrollbars resizable status STYLE color FF Email Print Text Size Hawaii bankruptcy filings jump . Email alerts from KHNL Click here to sign up. Associated Press November PM ET HONOLULU AP Bankruptcy filings in Hawaii last month jumped . from the year earlier as residents struggle to make ends meet while the economy slows. Data from the U.S. Bankruptcy Court in Honolulu shows there were personal and business filings in October. Most were for personal bankruptcies. Nationally personal and business bankruptcies rose last month to . Attorney Stuart Ing specializes in bankruptcies. He expects Hawaii bankruptcies to continue to climb. The th state has of the lowest per capita bankruptcy rates in the nation. In the year ended June Hawaii had the second lowest per capita rate of . filings per residents compared with the national rate of . filings per . Information from The Honolulu Advertiser http www.honoluluadvertiser.com Copyright The Associated Press. All rights reserved. This material may not be published broadcast rewritten or redistributed. Talk Story More Coaches volunteers serve up repairs Ft. DeRussy tennis courts no longer free to public Couple Reunites With Stolen Dogs Search for stolen dogs intensifies as viewers report sightings Burglars steal couple s beloved dogs jewelry electronic equipment National News More National News Minute Empire State Building lights up in red and blue Boxers or briefs Dallas thief picks panties Man steals more than panties from Dallas store Mistrial declared in border agent s trial All content Copyright WorldNow and KHNL a Raycom Media station. All Rights Reserved. For more information on this site please read our Privacy Policy and Terms of Service . November Posted PM Join Larry Connors for Weeks and he ll teach you how to become a professional swing trader Nov Shelbyville Daily Union McClatchy Tribune Information Services via COMTEX SWSI Quote Chart News PowerRating BPI Industries is the company the county signed a lease with to mine the methane gas out of the coal deposits that lie under Shelby County. The original deal signed in the fall of gave BPI the coal and gas rights to acres in the southern part of the county for . million dollars. BPI had asked the county to extend their lease at the October board meeting. Now according to BPI s own Financial Update the company is in serious financial shape. The company is currently insolvent and its operations do not provide sufficient cash flow for it to pay all of its obligations as they become due according to the company s news release. That news release goes on to say In the event that the company is unable to obtain additional financing in the near term it will likely file to reorganize under the U.S. bankruptcy code. Shelby County Board Chairman George Frazier said he is aware of the company s financial problems and does not believe their lease should be renewed. They BPI have made a proposal to renew their lease at the last board meeting and I do not believe it would be advantageous for the board or the landowners of Shelby County to renew that lease said Frazier. The Illinois Landowners Association ILA was organized in to work for the landowners of Shelby County that were immediately affected by the drilling for coal bed methane gas in the southwest one third of the county by BPI. That organization strongly opposes the county board approving the lease. Farm Bureau Manager Amy Rochkes is a member of the ILA. BPI is planning to present a proposal to the county board in November and from an Illinois Landowner s perspective we now want to push the county board to not accept the proposal because with the information of them BPI being insolvent we don t know who the county would be doing business with said Rochkes. If they BPI would file for bankruptcy. In an open letter to their members and the county board ILA states that on Sept. BPI filed a United States Securities and Exchange Commission SEC Form K which claims BPI has breached the convenants under the advancing term credit agreement from GasRock Capital LLC. GasRock is a venture capital company making loans to companies in the gas and oil business. That ILA letter goes on to say In this document BPI discloses it has failed to replace James E. Craddock with another manager acceptable to GasRock prevent its adjusted current liabilities from exceeding its adjusted current assets pay all indebtedness due to Superior Well Services Inc. and other creditors use discretionary D A loan proceeds only for uses approved by GasRock. That ILA letter ends by saying BPI has made a lot of promises to the county of financial gain. The county has received only a small portion of those financial promises and now clearly the county will never see BPI s promises fulfilled. ILA is asking you county board to please VOTE AGAINST renewing a lease with BPI. It should be noted that BPI has paid the county all of the . million the county was promised. However the royalties that were promised on the methane gas production may be difficult to collect. It should also be noted calls were placed to BPI by the Daily Union and not returned. Rochkes said there are wells presently drilled in Shelby County. One of those wells is an injection well on property that BPI owns two wells are what BPI calls test wells that have a monitoring station on them there are not actually well heads there so that leaves ten actual wells with well pumping mechanisms on them that currently are all not pumping because they are shut off because BPI is in debt to a local propane supplier. BPI owes local companies money. To see more of the Shelbyville Daily Union or to subscribe to the newspaper go to http shelbyvilledailyunion.com. Copyright c Shelbyville Daily Union Ill. Distributed by McClatchy Tribune Information Services. For reprints email tmsreprintspermissionsgroup.com call or send a fax to or write to The Permissions Group Inc. Milwaukee Ave. Suite Glenview IL USA. For full details for BPG click here . Stocks most likely to rise today. Click here More News Market Updates Stock Alerts All Trading News Stock Index Email Print Archives Feedback Email Article Link Close X Recipients email address Your name Your email Add a note optional Related News BPG BPI Energy Holdings Inc reports financial results BPI Energy Currently Insolvent and Could be Headed to Bankruptcy PREMIER SPONSORED LINKS TRADE CENTER The TradingMarkets Directory Stocks Quotes Charts How to Trade Commentary and Analysis PowerRatings Training Classes Tools Stock Scanner Daily Market Bias Options Quotes Charts How to Trade Commentary and Analysis Forex How to Trade Forex Momentum Index Pivots E mini Futures Quotes Charts How to Trade Daily Market Bias How to Trade Stocks Options Forex E mini Futures Glossary Tools Short Term PowerRatings Long Term PowerRatings Stock Screener Quotes Charts Stock Indicators Market bias Indicators PowerRatings Short Term PowerRatings Long Term PowerRatings Industry PowerRatings PowerRatings Charts Training Classes PowerRatings Strategies Search PowerRatings Trading Contests Up or Down Stock Contest Win every month Up or Down Forex Contest Win every month Premium Subscription Services Short Term PowerRatings Free Trial Long Term PowerRatings Free Trial TradingMarkets Subscription Free Trial Daily Battle Plan Free Trial Gary Kaltbaum Intraday Breaking Alerts Free Trial Kevin Haggerty Professional Trading Service Free Trial RELATED SITES Please call ext. About TradingMarkets Contact Advertise Careers Link to Us Site Map Help Terms Conditions Privacy Policy Return Policy Testimonials Feedback All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use . Please click the link to view those terms. Follow this link to read our Editorial Policy. The Connors Group Inc. AP The developer of the unit Holiday Isle has filed for bankruptcy because buyers backed out of purchases in the seven story Dauphin Island condominium project. Holiday Isle LLC a subsidiary of Mobile based The Mitchell Company Inc. filed its bankruptcy petition on Oct. . It cited assets between million and million compared with liabilities between million and million according to court records. Mitchell attorney Paul Wesch said Holiday Isle filed for Chapter bankruptcy protection to avoid foreclosure by RBC Bank and Sovereign Bank. Construction began in . Company officials still hope to sell the unsold units while reorganizing the project s finances. Associated Press. All rights reserved. This material may not be published broadcast rewritten or redistributed. Email Story ToEmail YourName YourEmail Message Send a copy to my email Please add and and type the answer here You can send a story to multiple email addresses by separating the email addresses with a semicolon This station will not store your email address or your recipient s email address or use them in any way. Add a Comment Add Video Comment Comments Most Popular U.S. Marine On Motorcycle Dies After Running Off The Road Election Day Freebies Meth Arrest Watch This Video Baldwin Property Tax Watch This Video Jennifer Hudson Family Funeral Watch This Video National News Obama elected president Barack Obama has been elected president of the United States the first African American elevated to the White House. McCain concedes and congratulates Obama President Bush calls Obama Democrats pick up several Senate seats Voters wait for hours to cast ballots Nebraska safe haven cases swell to World News Death toll from landslide in China rises A state run news agency says the death toll from a landslide in southwestern China has risen to . Eight dead after plane crash in Mexico City Magnitude . quake strikes off Vanuatu dead in German bus accident Bomb explodes at Swedish hotel U.S. troops in Iraq become citizens on election day This site is hosted and managed by Inergize Digital Media . Newport Television LLC Site Map Terms Of Use Privacy Statement Copyright Trademark Notice EEO WPMI files and maintains quarterly Children s Television Reports in its Public File. The Public File is available for viewing by the public at Azalea Road Mobile AL weekdays from am to pm.
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Hawaii bankruptcy filings jump 628 KHNL News 8 Honolulu Dauphin Island Condo Project in Bankruptcy NBC 15
Tue, 04 Nov 2008 23:53:09 +0000
Hawaii Decision Election Coverage Does It Work Cheap Eats Associated Press November PM ET HONOLULU AP Bankruptcy filings in Hawaii last month jumped . from the year earlier as residents struggle to make ends meet while the. var headline escape Hawaii bankruptcy filings jump . OpenWin Global Create Email Story.asp s Headline headline Summary summary width height toolbar no scrollbars resizable status Associated Press November PM ET HONOLULU AP Bankruptcy filings in Hawaii last month jumped . from the year earlier as residents struggle to make ends meet while the. var headline escape Hawaii bankruptcy filings jump . OpenWin Global Create Email Story.asp s Headline headline Summary summary width height toolbar no scrollbars resizable status STYLE color FF Email Print Text Size Hawaii bankruptcy filings jump . Email alerts from KHNL Click here to sign up. Associated Press November PM ET HONOLULU AP Bankruptcy filings in Hawaii last month jumped . from the year earlier as residents struggle to make ends meet while the economy slows. Data from the U.S. Bankruptcy Court in Honolulu shows there were personal and business filings in October. Most were for personal bankruptcies. Nationally personal and business bankruptcies rose last month to . Attorney Stuart Ing specializes in bankruptcies. He expects Hawaii bankruptcies to continue to climb. The th state has of the lowest per capita bankruptcy rates in the nation. In the year ended June Hawaii had the second lowest per capita rate of . filings per residents compared with the national rate of . filings per . Information from The Honolulu Advertiser http www.honoluluadvertiser.com Copyright The Associated Press. All rights reserved. This material may not be published broadcast rewritten or redistributed. Talk Story More Coaches volunteers serve up repairs Ft. DeRussy tennis courts no longer free to public Couple Reunites With Stolen Dogs Search for stolen dogs intensifies as viewers report sightings Burglars steal couple s beloved dogs jewelry electronic equipment National News More National News Minute Empire State Building lights up in red and blue Boxers or briefs Dallas thief picks panties Man steals more than panties from Dallas store Mistrial declared in border agent s trial All content Copyright WorldNow and KHNL a Raycom Media station. All Rights Reserved. For more information on this site please read our Privacy Policy and Terms of Service . November Posted PM Join Larry Connors for Weeks and he ll teach you how to become a professional swing trader Nov Shelbyville Daily Union McClatchy Tribune Information Services via COMTEX SWSI Quote Chart News PowerRating BPI Industries is the company the county signed a lease with to mine the methane gas out of the coal deposits that lie under Shelby County. The original deal signed in the fall of gave BPI the coal and gas rights to acres in the southern part of the county for . million dollars. BPI had asked the county to extend their lease at the October board meeting. Now according to BPI s own Financial Update the company is in serious financial shape. The company is currently insolvent and its operations do not provide sufficient cash flow for it to pay all of its obligations as they become due according to the company s news release. That news release goes on to say In the event that the company is unable to obtain additional financing in the near term it will likely file to reorganize under the U.S. bankruptcy code. Shelby County Board Chairman George Frazier said he is aware of the company s financial problems and does not believe their lease should be renewed. They BPI have made a proposal to renew their lease at the last board meeting and I do not believe it would be advantageous for the board or the landowners of Shelby County to renew that lease said Frazier. The Illinois Landowners Association ILA was organized in to work for the landowners of Shelby County that were immediately affected by the drilling for coal bed methane gas in the southwest one third of the county by BPI. That organization strongly opposes the county board approving the lease. Farm Bureau Manager Amy Rochkes is a member of the ILA. BPI is planning to present a proposal to the county board in November and from an Illinois Landowner s perspective we now want to push the county board to not accept the proposal because with the information of them BPI being insolvent we don t know who the county would be doing business with said Rochkes. If they BPI would file for bankruptcy. In an open letter to their members and the county board ILA states that on Sept. BPI filed a United States Securities and Exchange Commission SEC Form K which claims BPI has breached the convenants under the advancing term credit agreement from GasRock Capital LLC. GasRock is a venture capital company making loans to companies in the gas and oil business. That ILA letter goes on to say In this document BPI discloses it has failed to replace James E. Craddock with another manager acceptable to GasRock prevent its adjusted current liabilities from exceeding its adjusted current assets pay all indebtedness due to Superior Well Services Inc. and other creditors use discretionary D A loan proceeds only for uses approved by GasRock. That ILA letter ends by saying BPI has made a lot of promises to the county of financial gain. The county has received only a small portion of those financial promises and now clearly the county will never see BPI s promises fulfilled. ILA is asking you county board to please VOTE AGAINST renewing a lease with BPI. It should be noted that BPI has paid the county all of the . million the county was promised. However the royalties that were promised on the methane gas production may be difficult to collect. It should also be noted calls were placed to BPI by the Daily Union and not returned. Rochkes said there are wells presently drilled in Shelby County. One of those wells is an injection well on property that BPI owns two wells are what BPI calls test wells that have a monitoring station on them there are not actually well heads there so that leaves ten actual wells with well pumping mechanisms on them that currently are all not pumping because they are shut off because BPI is in debt to a local propane supplier. BPI owes local companies money. To see more of the Shelbyville Daily Union or to subscribe to the newspaper go to http shelbyvilledailyunion.com. Copyright c Shelbyville Daily Union Ill. Distributed by McClatchy Tribune Information Services. For reprints email tmsreprintspermissionsgroup.com call or send a fax to or write to The Permissions Group Inc. Milwaukee Ave. Suite Glenview IL USA. For full details for BPG click here . Stocks most likely to rise today. Click here More News Market Updates Stock Alerts All Trading News Stock Index Email Print Archives Feedback Email Article Link Close X Recipients email address Your name Your email Add a note optional Related News BPG BPI Energy Holdings Inc reports financial results BPI Energy Currently Insolvent and Could be Headed to Bankruptcy PREMIER SPONSORED LINKS TRADE CENTER The TradingMarkets Directory Stocks Quotes Charts How to Trade Commentary and Analysis PowerRatings Training Classes Tools Stock Scanner Daily Market Bias Options Quotes Charts How to Trade Commentary and Analysis Forex How to Trade Forex Momentum Index Pivots E mini Futures Quotes Charts How to Trade Daily Market Bias How to Trade Stocks Options Forex E mini Futures Glossary Tools Short Term PowerRatings Long Term PowerRatings Stock Screener Quotes Charts Stock Indicators Market bias Indicators PowerRatings Short Term PowerRatings Long Term PowerRatings Industry PowerRatings PowerRatings Charts Training Classes PowerRatings Strategies Search PowerRatings Trading Contests Up or Down Stock Contest Win every month Up or Down Forex Contest Win every month Premium Subscription Services Short Term PowerRatings Free Trial Long Term PowerRatings Free Trial TradingMarkets Subscription Free Trial Daily Battle Plan Free Trial Gary Kaltbaum Intraday Breaking Alerts Free Trial Kevin Haggerty Professional Trading Service Free Trial RELATED SITES Please call ext. About TradingMarkets Contact Advertise Careers Link to Us Site Map Help Terms Conditions Privacy Policy Return Policy Testimonials Feedback All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use . Please click the link to view those terms. Follow this link to read our Editorial Policy. The Connors Group Inc. AP The developer of the unit Holiday Isle has filed for bankruptcy because buyers backed out of purchases in the seven story Dauphin Island condominium project. Holiday Isle LLC a subsidiary of Mobile based The Mitchell Company Inc. filed its bankruptcy petition on Oct. . It cited assets between million and million compared with liabilities between million and million according to court records. Mitchell attorney Paul Wesch said Holiday Isle filed for Chapter bankruptcy protection to avoid foreclosure by RBC Bank and Sovereign Bank. Construction began in . Company officials still hope to sell the unsold units while reorganizing the project s finances. Associated Press. All rights reserved. This material may not be published broadcast rewritten or redistributed. Email Story ToEmail YourName YourEmail Message Send a copy to my email Please add and and type the answer here You can send a story to multiple email addresses by separating the email addresses with a semicolon This station will not store your email address or your recipient s email address or use them in any way. Add a Comment Add Video Comment Comments Most Popular U.S. Marine On Motorcycle Dies After Running Off The Road Election Day Freebies Meth Arrest Watch This Video Baldwin Property Tax Watch This Video Jennifer Hudson Family Funeral Watch This Video National News Obama elected president Barack Obama has been elected president of the United States the first African American elevated to the White House. McCain concedes and congratulates Obama President Bush calls Obama Democrats pick up several Senate seats Voters wait for hours to cast ballots Nebraska safe haven cases swell to World News Death toll from landslide in China rises A state run news agency says the death toll from a landslide in southwestern China has risen to . Eight dead after plane crash in Mexico City Magnitude . quake strikes off Vanuatu dead in German bus accident Bomb explodes at Swedish hotel U.S. troops in Iraq become citizens on election day This site is hosted and managed by Inergize Digital Media . Newport Television LLC Site Map Terms Of Use Privacy Statement Copyright Trademark Notice EEO WPMI files and maintains quarterly Children s Television Reports in its Public File. The Public File is available for viewing by the public at Azalea Road Mobile AL weekdays from am to pm.
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