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Tag Archives: bankrupt

Firm that owes state millions files for bankruptcy

MERIDIAN — A Texas company that Mississippi officials say owes the state $3.5 million has filed for bankruptcy, complicating collection efforts. Handy Hardware, a hardware wholesale cooperative, announced in November it was closing its two-year-old Meridian warehouse. By then, the Houston company had missed an October interest payment to Capital One Financial Corp. and defaulted on $26 million in debt. ...

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After much delay, new MDOT headquarters nearing completion

TUPELO — The long-awaited opening of the Mississippi Department of Transportation’s District 1 headquarters is on track for June. MDOT project engineer Matt Dunn tells the Northeast Mississippi Daily Journal the exterior work is done, but there’s still work left to do on the inside. The $5.1-million, 34,000-square-foot facility was scheduled to be finished last August, but the general contractor ...

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Tribe decides against buying bankrupt casinos

VICKSBURG — An Oklahoma Indian tribe is no longer planning to spend $125 million to buy the bankrupt DiamondJacks casinos in Bossier City, La., and Vicksburg from Legends Gaming. Global Gaming Solutions, a unit of the Chickasaw Nation of Oklahoma, wrote in court papers filed Jan. 25 that the DiamondJacks operations had run further downhill since owner Legends Gaming filed ...

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Former casino in disrepair while bankruptcy case continues

VICKSBURG — More than nine months after the Grand Station Casino closed amid bankruptcy, the property near Vicksburg’s City Front is in disrepair as several issues are settled in court. In October, U.S. Bankruptcy Judge Neil P. Olack awarded the casino to M Street Inc. after it bid $400,000 for the 36,000-square-foot facility in a Chapter 11 proceeding. The casino ...

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Bankrupt Missouri company sells local TV station

JACKSON — St. Louis, Mo.-based Roberts Cos. is selling a TV station in Mississippi, one of many assets the financially troubled company has on the market. The St. Louis Post-Dispatch reports a bankruptcy judge approved the sale of WRBJ in Jackson to Trinity Broadcasting Network, a nonprofit religious corporation. Roberts Cos. is led by St. Louis brothers Michael and Steven ...

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New bankruptcy judge to take oath next week

ABERDEEN — A new bankruptcy judge for northern Mississippi will be sworn in Jan. 18. Jason Woodard, a 37-year-old lawyer from Birmingham, Ala., will be sworn in to replace David Houston III, the Northeast Mississippi Daily Journal reports. Houston had been the only federal bankruptcy judge in the Northern District since the bankruptcy court was formed in the 1980s. Woodard, ...

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Commissioners give nod to co-op's purchase of power plant

BATESVILLE and HATTIESBURG — The Mississippi Public Service Commission has approved the $286-million sale of bankrupt LSP Energy to South Mississippi Electric Power Association. Commissioners voted 3-0 yesterday to give Hattiesburg-based SMEPA the right to operate the natural gas-fired power station in Batesville. The order also gives SMEPA the right to acquire any rights of way that it needs for ...

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Chickasaws moving forward on buy of riverboat casino

Vicksburg — An Oklahoma Indian tribe is moving forward with buying the DiamondJacks casinos in Bossier City, La., and Vicksburg. A bankruptcy auction did not occur after Global Gaming Solutions was the only bidder to qualify. The unit of the Chickasaw Nation of Oklahoma plans to pay $27.5 million in cash and $97.5 million in new debt to secured lenders ...

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Judge approves college's purchase of country club

COLUMBUS — A federal bankruptcy judge has approved East Mississippi Community College’s acquisition of the Columbus Country Club. EMCC was the only bidder at $1.6 million. EMCC officials tell The Commercial Dispatch the school will use the property to expand its course offerings and relocate programs from crowded campus in Mayhew. The country club, which opened in 1923, filed Chapter ...

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Art Horizons closes; owes county, city and planning district

BATESVILLE — A Batesville company that made framed pictures has closed as government entities and a bank fight over the bankrupt firm’s assets. James Curcio, executive director of the North Delta Planning and Development District, says Art Horizons Inc. closed in late August. According to a filing with the Mississippi Department of Employment Security, Art Horizons had 70 employees when ...

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