Writings by Joel R. Glucksman

Joel Glucksman is an experienced civil and bankruptcy litigator specializing in the representation of secured lenders and other creditors in complex suits and bankruptcies.

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Brookstone to file for bankruptcy

The consumer electronic gadgets retailer Brookstone, Inc. may be preparing to file for bankruptcy protection under Chapter 11 of the bankruptcy law, according to Bloomberg. The retailer is in talks with Spencer Spirit Holdings, which may acquire it as part of the deal. According to a March 27 statement, the two retailers are in talks […]

Author: Joel R. Glucksman

April 1, 2014

M*Modal files for bankruptcy

M*Modal, a medical service that transcribes recordings of doctors’ voices for internal records, filed for protection under Chapter 11 of the bankruptcy law March 20 in order to reduce its debt, according to Reuters. The company was taken private by One Equity Partners, J.P. Morgan Chase & Co’s private-equity arm, in a $1.1 billion all-cash deal […]

Author: Joel R. Glucksman

March 28, 2014

LightSquared seeks ruling ahead of bankruptcy hearing

Broadband company LightSquared urged U.S. Bankruptcy Judge Shelley Chapman on March 17 to find that its largest creditor, Dish Network Corp Chairman Charles Ergen, acquired his $850 million stake in the company improperly, according to Reuters. The outcome of the case between the company and Ergen – the closing arguments for which were heard March 17 – is likely to […]

Author: Joel R. Glucksman

March 27, 2014

Chapter 11

Quiznos to file for bankruptcy amidst debt and declining sales

Global sandwich chain Quiznos is preparing to file for protection under Chapter 11 of the bankruptcy act. According to reports published the evening of Feb. 27, the one-time fast food giant has accumulated about $570 million in debt and is experiencing declining sales nationwide. Quiznos has been negotiating with creditors and unhappy franchisees for weeks […]

Author: Joel R. Glucksman

March 25, 2014

Chapter 11

San Bernardino bankruptcy filing to set a precedent

San Bernardino and its largest creditor, California Public Employees’ Retirement System, have made significant progress in recent negotiations, according to Reuters. The negotiations center on how much the city will pay the pension fund as part of the city’s bankruptcy filing. The city filed for protection under Chapter 9 of the bankruptcy law in August of […]

Author: Joel R. Glucksman

March 21, 2014

Calumet Photographic declares bankruptcy

In a last-minute announcement, Chicago-based Calumet Photographic announced that it was filing for protection under Chapter 7 of the bankruptcy law on March 12, according to The Wall Street Journal. The chain announced its plan to liquidate “with a heavy heart” on Facebook, saying that it would be closing all of its U.S. locations, though it […]

Author: Joel R. Glucksman

March 20, 2014

Temporary Mt. Gox bankruptcy filing accepted

After scandal, uncertainty and accusations of massive fraud, Mt. Gox has been afforded some good news. According to PYMNTS.com, the embattled Tokyo exchange was granted protection in the U.S. under Chapter 15 of the bankruptcy law on March 10. This determination will allow the crypto-currency exchange to continue to operate internationally while negotiating the resolution […]

Author: Joel R. Glucksman

March 18, 2014

Detroit finds bankruptcy deal with big banks

The city of Detroit is still in the process of seeking approval for a plan to restructure its debt, amid complaints from a number of affected parties, including pensioners of the city. In a recent development, on March 3, the city reached a deal with two large investment banks to end expensive interest rate swaps, […]

Author: Joel R. Glucksman

March 14, 2014

Detroit

Sbarro to file for bankruptcy protection

In another fast food retailer bankruptcy, pizza chain Sbarro is preparing to file for protection under Chapter 11 of the bankruptcy law, according to The Wall Street Journal. The company is in the process of soliciting votes for a pre-packaged restructuring plan, and could file by as early as March 9 if it gets the […]

Author: Joel R. Glucksman

March 13, 2014

Chapter 11

Gold River businessman gets 17 years for bankruptcy fraud

Gold River businessman Steven Zinnel and his wife were divorced in 1999, and as proceedings dragged on, things got ugly. According to the Sacramento Bee, Zinnel told his wife in an angry email in 2001 that he intended to file for bankruptcy, and that she and the ex-couple’s two teenage children would get nothing. The problem […]

Author: Joel R. Glucksman

March 11, 2014

Chapter 7

Hostess Brands Inc. bankruptcy posed risk to other pensions

When Hostess Brands Inc. filed for protection under chapter 11 of the bankruptcy law in 2012, it posed risk to other pensions and medical charges for its employees as one of the the driving reasons behind the filing. At the time, the company was involved in a struggle with workers’ unions over a new contract […]

Author: Joel R. Glucksman

March 7, 2014

Mt. Gox insolvency may lead to bankruptcy

The Mt. Gox exchange has been the largest financial exchange for Bitcoin throughout most of the currency’s existence. All of that changed in recent weeks, when a error in the exchange’s transaction protocol led Mt. Gox to halt all Bitcoin withdrawals, according to The New York Times. On Monday, Feb. 24, the exchange appeared to be on the verge […]

Author: Joel R. Glucksman

March 4, 2014

Mt. Gox

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