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Debt Relief USA Inc. Pays Settlement In Georgia
A Texas debt adjustment firm has agreed to pay a fine to the Georgia Governor's Office of Consumer Affairs (OCA) to settle charges that it violated state law. Under the agreement, Debt Relief USA Inc. will refund $527,205.55 in fees to 330 Georgia residents and pay...
Is Chapter 7 Bankruptcy Right for Me?
If you live in Dallas/Fort Worth and you are considering filing for Chapter 7 bankruptcy it is important to understand if you meet the federal guidelines outlined in the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. Current bankruptcy law will let a...
Unemployment Up In Tarrant County
A report in the Fort Worth Star-Telegram last Friday said that Tarrant County lost 16,400 non-farm payroll jobs last in January, rocketing the area's unemployment rate to 7.1 percent. The jump in jobless numbers, up from 5.7 in December and 2.5 points higher than the...
Parent Co. Of Lone Star Park Files Bankruptcy
The Fort Worth Star-Telegram is reporting that Magna Entertainment Corp., the parent company of Lone Star Park in Grand Prairie, has filed for bankruptcy. The company made the announcement just as a $40 million debt payment was due. The Chapter 11 case was filed in...
Congress Expected To Reach Compromise On “Cramdown” Legislation
Democrats in the House of Representatives, under pressure from a group of moderates in their ranks and the banking lobby, agreed to restrictions on legislation that would give bankruptcy judges the power to change the terms of a mortgage by the reducing interest rate...
San Antonio River Walk Has Ties To WPA, Current Crisis
The Deal of the Week column in today's issue of the Wall Street Journal discusses the 18-story One Riverwalk Place in San Antonio. The building on the northern edge of the city's famed River Walk was purchased by Equastone LLC in 2006. Its mortgagte is in default,...
Federal Judge Pleads Guilty To Obstruction Of Justice
A U.S. District judge in Houston pleaded guilty Monday to a obstruction of justice and resigned from the bench in a deal that ends prosecutor's efforts on other charges. Jury selection was set to begin today for Judge Samuel Kent on the obstruction charge and five...
Dallas Company Wins Libel Suit
A Web site built to criticize Orix Capital Markets LLC is now under the company's control, and the family responsible for the content of the site was found to have libeled Orix in one of the largest of such cases in Texas. A federal jury in Dallas found that Cyrus...
Bankruptcy Judge Questions Pilgrim’s Severance Agreements
A Fort Worth bankruptcy Judge asked officials with Pilgrim's Pride and the U.S. Trustee assigned to the case to submit briefs in support of their arguments about consulting contracts for the former chief operating officer (COO) and chief executive officer (CEO). U.S....
Office Complex Goes To Lender In Foreclosure Auction
A southwest Fort Worth office complex went to the lender who forced the property into Tuesdays foreclosure auction. GE Real Estate made a $24.9 million bid to purchase the 450,000 square foot Overton Centre on the steps of the Tarrant County Courthouse. The owners of...
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