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Law Office of W. Thomas Bible, Jr.

February 2016 Archives

Solar power company files for Chapter 7

A rooftop solar installer has filed for bankruptcy, according to business news local to the company. Tennessee alternative energy fans will be saddened to hear about the closing of Summerlin Energy Las Vegas LLC, which filed for voluntary Chapter 7 bankruptcy the evening of Feb. 22. The rooftop solar industry is notoriously fluid, which may have contributed to the closing of this well-known installer. 

Bad habits make credit card debt worse

For many Americans, carrying debt is a normal part of their financial lives. Of course, as some Tennessee residents are already aware, carrying debt and drowning in it are two very different things. Credit card debt is among the most challenging financial obligations to tackle, but thankfully, there are ways to avoid bad habits and recover from runaway debt. 

Prominent condo developer files for Chapter 7 bankruptcy

A prolific developer of condominium properties with a career stretching back to the late 1960s has suffered a number of business setbacks in the recent past. Tennessee real estate aficionados may be aware of Nicholas Gouletas, the 78-year-old so-called "Condo King" who captured headlines for his business success in the 80s and 90s. Gouletas has filed for Chapter 7 bankruptcy, though he has not been reached for comment. 

Prominent fabric supplier files for Chapter 7 bankruptcy

Microfibres Inc., best known for providing quality fabrics to a variety of furniture and speciality product industries, has closed its doors, according to business news local to the company. Those Tennessee residents in the upholstery industry may recognize the name of the company, which filed for Chapter 7 bankruptcy at the beginning of this year. The bankruptcy is now being processed by a local branch of the U.S. Bankruptcy Court. 

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