San Jose Bankruptcy Attorney  comments on the return of Bob’s Big Boy Restaurants following the parent firm’s bankruptcy

Bob’s Big Boy is back, which is good news to San Diego fans of the pompadour-coiffed hamburger chain that filed for bankruptcy in 2000.  The hamburger chain has been gone for nearly two decades, but the current ownership, which purchased the chain in bankruptcy court, has plans to open 10 Bob’s Big Boy restaurants in the next few years in San Diego County.  Fifteen restaurants have been opened in California in the past few years, with 10 of them opening during the past two years.

Bob’s left California in the early 1990’s when Marriott, the owner of the California restaurants, converted them to Coco's and Carrows restaurants.  When Elias Brother, the Big Boy parent, filed for Chapter 11 bankruptcy protection in 2000, the current owners stepped in and kept the tradition alive.  Big Boy has more than 250 restaurants nationwide, with the majority in the Midwest, near its Michigan’s headquarters.

The chain has seen its ups and downs during its 73-year existence.  The current owners are counting on nostalgia as well as the menu offerings to help each of the restaurants they are opening establish profitability very quickly.  The portly, plaid-clad mascot has been a welcome sight in the communities where new restaurants have opened.  Many of the patrons visiting the restaurants have fond memories of eating there as a child.  Now they are bringing their children and grandchildren and continuing a family tradition that went through an interruption but now is back, and better than ever.

The Boys are back, San Diego Union-Tribune, November 14, 2009

If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys.  After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you.  Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you are have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down,  stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs.  Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

San Jose Bankruptcy Attorney  comments General Motors’ post-bankruptcy 3rd quarter loss of $1.2 billion.

General Motors revealed today that it lost $1.2 billion since the company emerged from bankruptcy during the summer.  While the loss figure is large, the company also announce that it intends to begin repaying some of the $6.7 billion in loans it received from the Treasury as part of the nearly $50 billion bailout of the auto giant.

General Motors had a very speed trip through the Chapter 11 bankruptcy proceedings with its largely pre-packaged bankruptcy that was agreed to by its largest stakeholders including the United Auto Workers and the Treasury Department.  General Motor’s bankruptcy has been wrenching to the states where it has closed facilities and shed thousands of jobs.  But the slimmer, trimmer, and hopefully more nimble post-bankruptcy company plans to be a player for years to come in the global auto market.

The company has benefitted from low interest rates and the government cash-for-clunkers program which boosted auto sales in the 3rd quarter. With the government intervention into the company, the  GM product line features many more hybrid and electric vehicles than probably were featured prior to the bankruptcy filing.

The company’s bankruptcy reorganization plan calls for GM to begin selling stock again in 2010 so that the bondholders, who swapped their debt for equity, can begin to recoup their investment in a hopefully resurgent General Motors.

GM to start repaying debt to U.S., CNN.com, November 16, 2009

If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys.  After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you.  Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you are have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down,  stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs.  Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

San Jose Bankruptcy Attorney comments on the rise in business bankruptcy filings in October.

Despite the national economy’s growth in 3rd quarter GDP, the number of businesses filing for bankruptcy protection in October rose 7 percent to 7,771 from the 7,271 reported in September.  The increase in bankruptcy filings follows two months of declines, and is a sign that the economy still has much work to do to return to the growth seen earlier in the decade.
The tight credit markets are receiving much of the blame for the continued business bankruptcy filings.  Despite billions of dollars distributed to banks and other financial institutions, commercial credit markets remain very tight, and many businesses are struggling to keep the lines of credit they have, and the prospect of securing new lines of credit is not good.

The numbers are even worse when compared to October, 2008.  Business bankruptcies, both Chapter 11 and Chapter 7, rose 24 percent over that time period.  Business bankruptcies tend to be a lagging economic indicator, and analysts expect several more quarters of increases in bankruptcy filings.  The real estate and retail sectors seem to be the hardest hit, and analysts expect another rise in retail bankruptcies if the holiday shopping season disappoints, as many expect.

Bankruptcy filings for the 10 months of 2009 are up 16 percent over last year.  The total number of October bankruptcies, including both personal and commercial filings, increased 20% from the same month last year. The number of filings last month, 130,199, is the most total filings since March, and the second-highest figure recorded since the beginning of 2006.

If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys.  After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you.  Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you are have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down,  stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs.  Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

San Jose Bankruptcy Attorney comments on the efforts of Simon Property Group to purchase some assets of General Growth Properties Inc. as it goes through a Chapter 11 bankruptcy reorganization.

Two of the largest shopping mall owners in the United States may be working on a deal to allow the bankrupt General Growth Properties to sell some of its properties to Simon Property Group.  General Growth filed for Chapter 11 bankruptcy protection in April and has until February, 2010 to file a bankruptcy reorganization plan with the bankruptcy court.

While its biggest rival is in bankruptcy proceedings, Simon has been raising capital and has more than $4 billion in cash available for acquisitions.  While Simon may be a logical choice to purchase some of General Growth’s more than 200 properties in 44 states, Simon has no standing before the bankruptcy court.  Simon will not be able to actively pursue the purchases until Simon is much farther into the bankruptcy process and has a plan to refinance its secured and unsecured debt, and has a plan to deal with the claims on its equity.

The Chapter 11 bankruptcy process can be very quick, as in the recent case of General Motors. It can also take a considerable amount of time as creditor’s committees and bankrupt companies engage in  intense negotiations over debt, equity, asset sales and who will manage the reorganized company.  In some cases, the creditor’s committee can demand a new management team be put in place, and it may be headed by executives from the creditor companies.

If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys.  After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you.  Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you are have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down,  stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs.  Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

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