Chapter 7 bankruptcy filings are on the rise in Orange County, but some cities are seeing higher numbers of filings than others.
The top ten cities in Orange County with the most Chapter 7 Bankruptcy filings for the month of July are as follows:
Aliso Viejo, Anaheim, Buena Park, Fullerton, Garden Grove, Huntington Beach, Irvine, Mission Viejo, Orange, and Santa Ana.
For bankruptcy attorneys in Orange County, the number of Chapter 7 bankruptcies filed at the Santa Ana Bankruptcy Courthouse in June 2009 was high again, just as it was last month.
The ten cities with the most Chapter 7 bankruptcy filings in Orange County for the month of June 2009 were:
Anaheim, Buena Park, Fullerton, Garden Grove, Huntington Beach, Irvine, Mission Viejo, Orange, Santa Ana, and Westminster. Rancho Santa Margarita and Costa Mesa also had a high number of Chapter 7 bankruptcies filed in June.
Prospective car buyers and GM car owners take note — GM has just filed for Chapter 11 bankruptcy protection. The survival of Orange County GM dealerships is unclear, but will be determined over the next two or three months, which is approximately how long the restructuring is expected to take. Orange County GM dealerships are located in: Anaheim, Buena Park, Costa Mesa, Foothill Ranch, Irvine, Laguna Niguel, Tustin, and Westminster.
From the Los Angeles Times online:
President Obama said that pushing General Motors Corp. into bankruptcy today was a painful but necessary step to revive the legendary automaker, saving thousands of jobs and avoiding another direct hit to the struggling economy.
“‘Working with my auto task force, GM and its stakeholders have produced a viable, achievable plan that will give this iconic American company a chance to rise again,’ Obama said at the White House just hours after the company filed for bankruptcy protection this morning in a Manhattan courtroom…
‘Simply loaning GM more money, instead of taking equity in the company, would have continued to saddle GM with ‘irresponsibly large debt,’ the reason the company is in its current dire position, Obama said.
‘We are acting as reluctant shareholders because that is the only way to help GM to succeed,’ he said. ‘What we are not doing, what I have no interest in doing, is run GM.’”
For More Information on this and other bankruptcy news, visit Curtis Law Group
The worst National and Global Economy in decades has struck another Orange County retailer. Bankruptcy attorneys filed for Chapter 11 on behalf of Anchor Blue Retail Group, Inc., a teen retailer.
From the company’s press release:
“Anchor Blue Retail Group, Inc., parent company of specialty retailer Anchor Blue and outlet store retailer Levi’s & Dockers Outlet by MOST, today announced that the company and its subsidiaries have filed a voluntary petition under Chapter 11 of the U.S. Bankruptcy Code in the Bankruptcy Court for the District of Delaware to enter a 363 sale process to facilitate a restructuring. The process will allow the company to quickly restructure and emerge stronger and more competitive.
As part of the filing, Anchor Blue Retail Group reached a stalking horse agreement with Levi Strauss & Co. regarding the purchase of the Levi’s & Dockers Outlet by MOST stores. In addition, the company negotiated a stalking horse agreement with nationally recognized financial institutions to purchase its Anchor Blue division in collaboration with the current senior management team. Both transactions are subject to an auction process and to approval from the bankruptcy court.
Anchor Blue Retail Group’s filing was largely the result of the significant and sustained economic downturn that has severely impacted California — its key market — and eroded the company’s profitability. The company expects to continue paying employee salaries and benefits as well as honor gift cards and store credits as usual.
‘After completing a detailed analysis of all our operations and conducting negotiations with a number of our landlords, we made the difficult but necessary decision to close approximately 50 underperforming Anchor Blue stores,’ Thomas Sands, CEO of Anchor Blue Retail Group, said.”
The Orange County retailer has Anchor Blue stores at Anaheim Plaza, Brea Mall, Buena Park Downtown, Laguna Hills Mall, The Block at Orange, Village at Orange, Westfield MainPlace in Santa Ana and Westminster Mall. At this point it is unclear how the bankruptcy will affect the operation of these stores, as they are not included in the aforementioned 50 stores to be closed.
The search for an Orange County bankruptcy attorney to file a Chapter 7 bankruptcy was made by hundreds of Orange County residents each and every month in 2008. This year looks like more of the same, and possibly much more of the same. In January 2009, 561 Orange County residents filed for Chapter 7 bankruptcy.
The Orange County cities with the most Chapter 7 bankruptcy filings for January, 2009 are as follows: Anaheim, Buena Park, Costa Mesa, Fullerton, Garden Grove, Huntington Beach, Irvine, Lake Forest, Mission Viejo, and Santa Ana.
Other Orange County cities that also had a high number, especially considering their relative population, include Aliso Viejo, Rancho Santa Margarita, San Clemente.
Bankruptcy lawyers are needed in many cities, but perhaps in some more than others.
The Orange County cities with the most chapter 7 bankruptcy filings for the month of December, 2008, are as follows: Anaheim, Buena Park, Costa Mesa, Fullerton, Garden Grove, Huntington Beach, Irvine, Mission Viejo, Orange, and Santa Ana. Orange County cities that also had a high number, especially considering their relative population, include Laguna Hills, San Clemente, and San Juan Capistrano.
The total number of Chapter 7 bankruptcy filings in the Santa Ana Bankruptcy Courthouse during December 2008 was 605.
Bankruptcy Attorneys in Orange County, pay attention. The top ten Orange County cities with the most Chapter 7 bankruptcy filings for the month of November, 2008 are: Anaheim, Buena Park, Costa Mesa, Fullerton, Garden Grove, Huntington Beach, Irvine, Mission Viejo, Orange, and Santa Ana.
Other Orange County cities that also had a high number of Chapter 7 bankruptcy filings, especially considering their relative population, include Rancho Santa Margarita, San Clemente, and Tustin.
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