Posts Tagged ‘bankruptcy’

Grain buyer’s bankruptcy could take steep toll on Delta farmers

» Defaults on contracts and non-payment on grain already delivered are main worries The chapter 12 bankruptcy of a principal of Arkansas’ Turner Grain Co. and accompanying grain contract defaults could cost farmers in the Mississippi Delta “paper” losses of up to $70 million, according to a Greenville lawyer for several grain producers. Separate from […] [...]

Margaritaville owner files for bankruptcy before landlord hearing

BILOXI — The owner of Biloxi’s Margaritaville casino filed for Chapter 11 bankruptcy protection yesterday, only hours before a hearing where the landlord aimed to seize the property. The filing by MVB Holding LLC in U.S. Bankruptcy Court in Gulfport follows the casino’s shutdown on Monday night. Don Dornan, a lawyer for landlord Clay Point, […] [...]

Natchez hospital auction attracts only one bidder

NATCHEZ — Natchez Regional Medical Center goes up for auction today, but only one company is bidding. Community Health Systems is the only entity that met a Monday deadline to qualify to try to buy the hospital, which is in bankruptcy. That’s according to Scott Slover, attorney for the Adams County Board of Supervisors. CHS […] [...]

KiOR: Money will run out next of money month, bankruptcy possible

COLUMBUS — Struggling biofuel firm KiOR says in a financial filing that it will run out of money by September and that bankruptcy could follow. The company, which built a refinery in Columbus to turn wood chips into synthetic oil, owes Mississippi $69.4 million. The Mississippi Development Authority has agreed to delay payments until the […] [...]

Trustee wants Vantium to service Community Home loans

JACKSON — United States Bankruptcy Court for the Southern District of Mississippi has approved the request of Kristina M. Johnson, Chapter 11 trustee of the bankruptcy estate of Community Home Financial Services Inc., to retain Vantium Capital Inc. (d/b/a Acqura Loan Services) to service mortgage loans on behalf of the bankruptcy estate. Johnson’s appointment as […] [...]

Pipe-maker files for bankruptcy; wants to sell plant

BAY ST. LOUIS — The owner of a steel pipe mill in Bay St. Louis has filed for bankruptcy protection and seeks to sell the plant. PSL North America, LLC, which began operations in 2008, made the Chapter 11 filing June 16 in Delaware. In court papers, it said it plans to sell itself for […] [...]

Trustee wants to hire Maryland firm to sell frac sand facility, mine

PICAYUNE — Richard W. Cryar, as Chapter 11 trustee for Alliance Consulting Group, LLC, has filed a motion with the U.S. Bankruptcy Court for the Southern District of Mississippi to hire Heritage Equity Partners (HEP) of Easton, Md., to seek a buyer for a recently built frac sand dry processing plant in conjunction with a […] [...]

FTC approves Franchise Services’ sale of airport locations

RIDGELAND — Franchise Services of North America Inc. (FSNA) has released an update on the previously announced proposed sale of 22 airport concession agreements used by the company’s wholly-owned subsidiary, Simply Wheelz, LLC, which formerly did business as Advantage Rent A Car. The Federal Trade Commission has approved the sale of 12 of the locations […] [...]

Franchise Services sells assets of bankrupt Advantage Rent A Car

RIDGELAND — Franchise Services of North America Inc.’s wholly-owned subsidiary, Simply Wheelz LLC, which does business as Advantage Rent A Car, has completed the sale of 41 U.S. airport concession agreements used in the Advantage business to The Catalyst Capital Group Inc. (on behalf of one or more funds managed by it). Catalyst was selected […] [...]

Franchise Services gives update on bankruptcy proceedings

RIDGELAND — Franchise Services of North America Inc. has issued an update on the previously announced proposed sale of certain assets used in connection with the business of the company’s wholly-owned subsidiary, Simply Wheelz, LLC, which does business as Advantage Rent A Car. The Catalyst Capital Group Inc., on behalf of one or more funds […] [...]

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