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Bankruptcy

NEWS
February 17, 2001
Bugle Boy to close local outlet store Bugle Boy announced Friday it is closing 215 clothing stores nationwide, including one at Prime Outlets at Hagerstown. The parent company, which is based in Simi Valley, Calif., filed for Chapter 11 bankruptcy Feb. 1. On Wednesday, a U.S. Bankruptcy Court judge in Los Angeles allowed a three-company partnership to liquidate $144 million in Bugle Boy inventory. Chapter 11 bankruptcy allows a business to get relief from its debts while it reorganizes.
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NEWS
By DAN KULIN /Staff Writer | February 17, 2000
The City of Hagerstown will not receive about $33,000 owed by the owner of Round the Square, a downtown coffee and sandwich shop that closed in December, said Mark Boyer, a city attorney. Last month Crescent Moon Ltd., which owned Round the Square, filed for voluntary Chapter 7 bankruptcy in U.S. Bankruptcy Court for the District of Maryland in Greenbelt, Md. Tuesday, Boyer said the company had no assets, which would have been used to pay off debtors. Crescent Moon, which was owned by Harry Grandinett, owed the city $33,249, including $23,394 for a construction loan and $9,854 in unpaid rent, according to city records.
NEWS
By MATTHEW UMSTEAD | November 30, 1999
MARTINSBURG, W.Va. ? A developer's bankruptcy filing appears to have poked a hole in the Berkeley County Planning Commission's rules on bonds to ensure work is done correctly. Lawsuits now are likely because a subdivision was left substandard, according to the county's legal counsel. Acting on the advice of attorney Norwood Bentley III, Berkeley County Planning Commissioners on Monday night gave their president the authority to revoke what remains of bonds for four sections of Apple Knolls Estates subdivision, a project by Robert Petry of Hedgesville, W.Va.
NEWS
By SCOTT BUTKI | November 24, 1999
The public sale of a Sharpsburg restaurant's property is on hold because its former owners have filed for bankruptcy, attorney Roger Schlossberg said Tuesday. The New Central Restaurant, on the former property of American Legion Post 236, was the focus of controversy because the town would not let the owners put up an advertising sign on Main Street. Albert Paul Carson and E. JoAnn Carson, the former restaurant owners, defaulted on a deed for the restaurant property, Schlossberg said.
NEWS
October 29, 1999
A Purina Mills Inc. plant near Hagerstown won't be affected by the company's bankruptcy filing, a spokesman said Friday. A spokesman for the St. Louis, Mo.-based company announced Thursday the company and 10 of its affiliates had filed for Chapter 11 bankruptcy as part of a financial restructuring. The company has $350 million in unsecured debt resulting from its purchase by Koch Industries Inc. in 1998, spokesman Max Fisher said. Fourteen employees work at a Hagerstown plant at 11671 Hopewell Road, Plant Manager Troy Miller said.
NEWS
By JULIE E. GREENE | January 5, 1999
The bondholders for the closed $250 million paper recycling plant in Hagerstown have filed for bankruptcy involuntarily on behalf of the partnership that owns the plant, officials said Monday. The bondholders filed for Chapter 7 on behalf of Hagerstown Fiber Limited Partnership on Dec. 17 in U.S. Bankruptcy Court in Greenbelt, Md., according to court records. Joseph J. Bellinger, who represents First National Bank of Maryland, the trustee for the bondholders, would not comment Monday.
NEWS
By JULIE E. GREENE | August 27, 1998
A U.S. Bankruptcy Court judge on Monday dismissed a bankruptcy filing by the partnership that owns a failed $250 million paper recycling plant in Hagerstown. The fate of the recycling plant at Eastern and Memorial boulevards remains uncertain, according to officials and the ruling of the court in New York City. In his decision, Judge Stuart M. Bernstein states "the mill has never successfully operated commercially, and it is not likely to do so in the foreseeable future," according to court records filed on the Internet.
NEWS
By BRENDAN KIRBY | March 14, 1998
Bankruptcies on rise in Washington County The number of people and businesses in Washington County filing for bankruptcy tripled from 1995 to 1997, mirroring a nationwide trend that is straining courts and reshaping the way people manage their debts. In 1995, there were 407 bankruptcies originating from Washington County, according to the U.S. Bankruptcy Court's Maryland District. By last year, that number had jumped to 1,220. Statewide, officials say they have not seen quite as dramatic a rise, but court officials said filings are rising.
NEWS
By BRENDAN KIRBY | March 14, 1998
Bankruptcies cause need for more judges As far back as 1989, officials at the U.S. Bankruptcy Court's Maryland District concluded they needed another judge. They eventually got one - four years later. By then, the explosion of personal bankruptcy filings had overwhelmed the court, said Judge Duncan W. Keir. "It's clear that we're not able to keep up. We're running deeper and deeper into debt, if you will," he said. Keir, who has been a vocal critic of Congress for not approving additional judgeships in Maryland, said statistics clearly demonstrate the need.
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