Chapter 7

A Connecticut town is the recipient of a sizeable check after a bankruptcy court determined its claim against a power plant had priority over other creditors. The plant filed for Chapter 7 bankruptcy slightly over a year ago and had to lay off its entire workforce. Before its bankruptcy, the power plant contributed the largest amount of taxes to the town, totaling over $1 million annually.

Most Connecticut business owners don't expect severe financial problems when they first open their doors. However, when companies are forced to negotiate contracts with others, sometimes delays in those talks can lead to unforeseen costs or financial issues resulting in the decision to file for Chapter 7 protection. Such is the case for a long time orchestra.

Connecticut business owners may currently be feeling the pinch of tough economic times. When the financial strain becomes too much, owners may seek the protection that Chapter 7 bankruptcy can offer. Recently a biomass producer, apparently experiencing massive financial strain, did just that.

A sigh of relief has gone through Connecticut and Twinkie lovers across the nation, however short-lived it may be. A judge noticed Hostess and its second largest union had not gone through private mediation before the company's Chapter 7 bankruptcy filing. The two will now take the step of mediating soon, but if they cannot come to an agreement liquidation will resume. The company had been struggling for several years and the Chapter 7 is its second bankruptcy attempt in less than 10 years.

A couple that won several million dollars in a lawsuit has recently filed for bankruptcy. This filing may be surprising, but it also shows that Chapter 7 bankruptcy can happen for many reasons and to any Connecticut resident. The couple was embroiled in a lawsuit several years ago over butter flavoring used in popcorn.

For Connecticut business owners, events may occasionally occur that cause a company to fall deep into debt. When this occurs, Chapter 7 bankruptcy is often a viable option. In recent news, a woman at the center of a criminal investigation has filed for bankruptcy in federal court.

For Connecticut business owners, events may occasionally occur that cause a company to fall deep into debt. When this occurs, Chapter 7 bankruptcy is often a viable option. In recent news, a woman at the center of a criminal investigation has filed for bankruptcy in federal court.

Connecticut readers may be able to commiserate with a college football coach who recently filed for Chapter 7. The coach has cited real estate investment debts as the main reason for his decision to file the Chapter 7 petition. With the slump in the real estate market, many people are experiencing overwhelming debt related to their home or land purchases.

Some Connecticut small business owners may be struggling to remain profitable and open for business during the current economic recession. Fortunately, there are options available for people who are having difficulty keeping their businesses afloat due to the combination of a slow economy and a high debt load. Recently, the owner of a used car dealership has filed for Chapter 7 bankruptcy protection.

Chapter 7 bankruptcy can sometimes be the best decision Connecticut residents can make when they are faced with insurmountable debt. In fact, several celebrities have filed for bankruptcy recently, including Danielle Staub, a former cast member of Bravo's "Real Housewives" series. Her Chapter 7 bankruptcy petition states that she has both assets and debts numbering between half a million and $1 million.