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Oilfield Company Files for Bankruptcy in Delaware After $250 Million Default

Because of its flexible corporate laws and beneficial state corporate income tax, many companies choose to incorporate in the state of Delaware. Because these companies are incorporated in Delaware, they often will file for bankruptcy in the Delaware district court even though their primary place of business might be located in another state. One such… Read More »

Chapter 11 Bankruptcy Saves Pennsylvania Business

When the Marathon Grill restaurant at 1818 Market Street in Philadelphia, Pennsylvania fell behind on rent because of the 2008 recession, they were able to continue operations through a debt settlement agreement with their landlord. But when ownership changed, the new landlord failed to honor the agreement and threatened to take possession of the leased… Read More »