Need expert bankruptcy help in Leesburg, VA?
A bankruptcy case cannot be filed in a Leesburg or Virginia state court because federal courts have exclusive jurisdiction over bankruptcy cases. Beginning a bankruptcy case in Leesburg normally begins by filing a petition with the bankruptcy court. The debtor must file statements listing assets, income, liabilities, and the names/addresses of creditors and how much is owed - this prevents debt collection actions against you, the debtor.
Bankruptcy cases are filed under different chapters, allowing a debtor to reorganize and establish a plan to repay creditors, or forcing liquidation of a debtor's property.
Chapter 11 Bankruptcy - Reorganization
Chapter 11, entitled Reorganization, ordinarily is used by commercial enterprises that desire to continue operating a business and repay creditors concurrently through a court-approved plan of reorganization.
The chapter 11 debtor usually has the exclusive right to file a plan of reorganization for the first 120 days after it files the case and must provide creditors with a disclosure statement containing information adequate to enable creditors to evaluate the plan. The court ultimately approves (confirms) or disapproves the plan of reorganization.
Under the confirmed plan, the debtor can reduce its debts by repaying a portion of its obligations and discharging others. The debtor can also terminate burdensome contracts and leases, recover assets, and rescale its operations in order to return to profitability. Under chapter 11, the debtor normally goes through a period of consolidation and emerges with a reduced debt load and a reorganized business.
Bankruptcy News
Central Virginians Are Get a Helping Hand by Bankruptcy Firm
Louisa Bankruptcy, an experienced debt relief law firm of specialized bankruptcy lawyers, is extending its outreach to include Charlottesville, Culpepper, Madison, Orange, and surrounding counties of central Virginia, in response to the steep rise in personal bankruptcy filings over the past several years. The firm will also offer a free, in person or over the [...]
Top Practitioners Analyze the Challenges of Bankruptcy Security for Companies
When a company saddled with potential environmental liabilities seeks bankruptcy protection, the goals of Chapter 11 — giving the reorganized debtor a ”fresh start” and fairly treating similarly situated creditors — can conflict with the goals of environmental laws, such as ensuring that the ”polluter pays.” Recent bankruptcy cases and bench decisions have clearly shown [...]
Pizzarama Owner in Fairfax City Charged With Embezzling City Tax Collections
Fairfax Police have charged the owner of a City business establishment with embezzlement for failure pay City of Fairfax meals tax collections totaling nearly $26,000 between December 12, 2006 and June 28, 2010. Cindi Azzouz, 35, owner of Pizzarama at 9639 Fairfax Boulevard, was charged with five felony counts of embezzlement Section 18.2-111 of the [...]
Tidewater TV Station Owner Charged with Defrauding Local Churches
Samuel B. Jacobs, 57, of Hampton, Va., and Christopher C. Rice, 28, of Suffolk, Va., were arrested today to face charges that they defrauded more than 80 investors – many of whom were members of local church congregations – of nearly $550,000. Neil H. MacBride, United States Attorney for the Eastern District of Virginia, made [...]
Three Principles of A&O Entities Charged For Alleged Roles in $100 Million Fraud
Three principals of a group of businesses that acquired and marketed life settlements to investors were arrested and charged in an 18-count indictment for their alleged roles in a $100 million fraud scheme with more than 800 victims across the United States and Canada. The charges were announced today by U.S. Attorney for the Eastern [...]
McDonnell Appoints Leesburg Resident as Counsel
Governor Bob McDonnell today announced the appointment of J. Randall Minchew, to Deputy Counselor and Advisor to the Governor.
Federal Reserve Announces Final Rules to Protect Credit Card Users
The Federal Reserve Board on Tuesday approved a final rule to protect credit card users from unreasonable late payment and other penalty fees and to require credit card issuers to reconsider interest rate increases imposed since the beginning of last year. “The new rules require that late payment and other penalty fees be assessed in [...]
Roper Brothers Lumber Co. expected to shut down
PETERSBURG – A 100-year-old Petersburg business is planning to close its doors today and reportedly plans to file for bankruptcy protection. Employees of stores owned by the company elsewhere in Virginia told The Progress-Index on Thursday and on Friday morning that all of the company’s locations will be closing., however Roper Brothers Lumber Co. officials [...]
Roper Lumber to File for Bankruptcy and Close Today
Roper Brothers Lumber Co., one of Virginia’s premier LBM dealers and a longtime member of the ProSales 100, will close today and file for bankruptcy, numerous reports indicate. It also owns Valley Lumber in Winchester, Va., Read full story via ProSales 100
Vick amends bankruptcy plan, awaits judge’s ruling
Suspended NFL quarterback Michael Vick has submitted a revised bankruptcy plan that funnels more of his future earnings to creditors, though a judge did not immediately rule on the proposal. Vick filed the new Chapter 11 plan yesterday in U.S. Bankruptcy Court in Newport News. Read full story via Richmond Times-Dispatch.
Leesburg Virginia News
Leesburg Water Treatment Plant Recognized for Operational Excellence
The Town of Leesburg Utilities Department has earned the Virginia Department of Health’s (VDH) Excellence in Waterworks Performance Award for the eighth consecutive year at the Kenneth B. Rollins Water Filtration Plant. The VDH Office of Drinking Water Recognition Program rewards water systems that have demonstrated excellence in performance and operations and for the treatment [...]
Leesburg Police Annual Report Shows Increases in Crashes and Larceny
The Leesburg Police Department has released its 2011 Annual Report. The report highlights department operations and key law enforcement events in 2011 as well crime, traffic and workload statistics such as; Calls for service and officer generated proactive actions increased by 12% Reportable crashes increased in 2011. There were 450 in 2011 compared to 352 [...]
World’s Largest Swimming Lesson to be Held in Leesburg
On Thursday, June 14, 2012, thousands of kids and adults at aquatics facilities around the globe will unite to set a new global record for the World’s Largest Swimming Lesson™ (WLSL). The A.V. Symington Aquatic Center in Leesburg’s Ida Lee Park will be an official host location for the event, taking place at 11:00 a.m. [...]
Police Challenge High School Students to Buckle Up
The Leesburg Police Department and Virginia State Police are challenging the town’s 2,932 high school students to “put it together” in order to save lives and reduce traffic deaths and injuries resulting from a lack of seat belt usage. Heritage, Loudoun County and Tuscarora high schools will be competing with one another the week of [...]
Leesburg, VA (May 9, 2012) – The American Academy for Park & Recreation Administration, in partnership with the National Recreation & Park Association, has named the Town of Leesburg’s Parks & Recreation Department as one of four finalists for its prestigious National Gold Medal Award for Excellence in Park and Recreation Management in the 25,001 [...]
Town Submits Charter Amendment Moving Town Elections from May to November to Department of Justice
In November 2011, a referendum to move Town of Leesburg elections from even-numbered years in May to even-numbers years in November was passed by Leesburg voters. In March 2012, the Virginia General Assembly approved an amendment to the Leesburg Town Charter, changing the date of town elections from May to November and providing that the town [...]
Town of Leesburg to Begin East End Triangle Improvements
Leesburg, VA (May 8, 2012) – On Monday, May 14, 2012, the Town of Leesburg will begin the first phase of the Downtown Improvements Project with the relocation of power lines at the East End Triangle, near Mom’s Apple Pie. Dominion Power will complete all power line relocation work, which will include: Power going to [...]
Streets in Leesburg will be Resurfaced During Week of May 21
Several streets in Leesburg will be resurfaced during the week of May 21, 2012. Part of the Town’s regular streets maintenance program, milling and paving is a surface replacement process that eliminates existing pot holes and creates a smooth new road surface. Milling and paving extends the life of the Town’s streets and is done [...]
Leesburg Police Make Arrest in Child Abuse Case
On May 4th, 2012, Ronald “Scooter” Hutton, age 20, of Leesburg, was arrested and charged with one count of Malicious Wounding and one count of Cruelty to Children. The incident occurred in May of 2011 and the victim was a sixteen month old family member. The charges stemmed from an investigation of another allegation of [...]
VDOT to Hold Public Hearing on the Sycolin Overpass Design
On Thursday, May 17, 2012, from 6:00 to 8:00 p.m., officials from the Virginia Department of Transportation (VDOT) will hold a public hearing on the design of the Sycolin Road Overpass. The public hearing will be held in the lower level of the Leesburg Town Hall (25 West Market Street). This project will build an [...]