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Law Office of W. Thomas Bible, Jr.

November 2015 Archives

Prominent home-building company files for Chapter 7

The mortgage crisis of 2008 is being cited as a possible reason why Clark Turner Homes recently filed for bankruptcy, according to local business news. Tennessee contractors might be familiar with Clark Turner, which was considered one of the up-and-coming companies in its state before financial difficulties arose. The company filed for Chapter 7 bankruptcy on Nov., though it still hopes to arrange a deal with creditors to evade a liquidation

Prominent energy company files for Chapter 7 bankruptcy

An out-of-state energy company has closed its doors, according to American business news. The Far East Energy Corporation, familiar to some Tennessee residents with an interest in energy trade, filed for Chapter 7 bankruptcy on Nov. 10. The company has cited its several failed attempts to restructure as a primary cause for the filing. 

Real estate developer affiliates file for Chapter 7 bankruptcy

A developer may be giving up his plans to build a shopping center in the face of several bankruptcy filings, according to business news sources. Here in Tennessee, real estate can be a challenging business to keep up in, which may contribute to why the affiliate companies of the out-of-state developer have filed for Chapter 7 bankruptcy. The liquidation proceeding was filed on Oct. 19.

Prominent organic food retailer files for Chapter 7 bankruptcy

Once the go-to spot for organic greens and snacks in one of America's largest cities, Organic Avenue has closed its doors for good, according to local business sources. Visitors from Tennessee may have had the opportunity to sample some of the famous retailer's all-natural fare at one of their retail locations during the company's 15-year history, but ever since ownership filed for Chapter 7 bankruptcy, the streets are a little less green. Thankfully, such a filing should allow the company's ownership to discharge their existing debts in an efficient way. 

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