Bankruptcy Information

Reddy Ice is the second ice-packaging company that has recently filed for bankruptcy. Arctic Glacier filed at the beginning of this year, and now Reddy Ice is following suit.

There is talk that Reddy Ice has plans to purchase Arctic Glacier, thus strengthening both companies and allowing Reddy Ice to emerge as a successful business after bankruptcy. The company decided to file for bankruptcy after their debt continued to rise.

The assets of the company hit $434 million at the end of 2011, but the liabilities were at $530.8 million. Reddy Ice has plans to come out of bankruptcy just 45 days after filing.

Please contact the Birmingham bankruptcy lawyers of Greenway Law, LLC by calling 205-324-4000 if you or someone you know has questions regarding the bankruptcy filing process.

Tags: Bankruptcy, Reddy Ice

The University of Wisconsin Green Bay will be hosting a music festival on Saturday in order for high school and middle school music students to perform in the Wisconsin School Music Association State Music Festival.

Officials have stated that the music fest will take place at 10 different campuses and will feature musical performances by more than 32,000 students.

Officials with UW-Green Bay are excited about this festival because it will give the campus a chance to integrate with nearby high schools and middle schools as well as allow the university to showcase the features that the music program has to offer.

For more information on this event, visit the University of Green Bay web site today.

Tags: Festival, Music Festival

According to recent data from the U.S. Bankruptcy Court in South Florida, consumer bankruptcies filed in South Florida experienced a year-over-year decrease of 21 percent last month.

In August, 2,690 consumer bankruptcies were filed in South Florida compared to 3,387 in August 2010.  Compared to July’s bankruptcy filings, August filings were 1.36 percent higher.

Filings in both Broward and Miami-Dade counties increased from July to August.  However, bankruptcy filings in Palm Beach County decreased slightly from 409 in July to a total of 406 in August.

Tags: 21 Percent, Percent, South Florida

Recently, sports agent Lee Steinberg filed for Chapter 7 bankruptcy.  The agent is famous for representing top athletes like Troy Aikmen and inspiring the 1996 film Jerry Maguire and its main character.

Steinberg currently owes $1.4 million in a lease for a property in Newport Beach.  The Chapter 7 bankruptcy filing lists total debts between $1 and $5 million, and only one asset of $475,000 in stock.

The sports agent said he accumulated debt while he was in rehab to recover from an alcohol addiction, and his business suffered as a result of these debts.  Steinberg says he has been sober since 2010.

Tags: Bankruptcy, Lee Steinberg

 A caller was concerned that his IRA funds held as his bank’s brokerage department are not protected against an outstanding judgment because of a “set off” provision of the bank’s depositor agreement. The agreement states that “to the extent permitted by applicable law” the lender has a right to set off all of the borrower’s accounts. Set off pertains to debts owed to the bank where the deposits are held. Set off does not mean that the bank can remove exemptions against debts owed to other creditors. The set off provision of this agreement means that the bank can take money from the caller’s accounts to pay a debt owed to this same bank, but it does not state that the bank can take the depositors money to pay someone else. .

  The IRA money would be protected against a set-off to the same bank because the set off provision is limited by applicable laws. Because applicabl Read full post…

Tags: Ira, Ira Protection