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Associated Community Services Files for Chapter 11

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Associated Community Services, one of the largest charity telemarketers in the U.S., has filed for chapter 11 protection, the Detroit Free Press reported today. The company, which keeps as much as 90 percent of the money it raises for its not-for-profit clients, has come under fire in various states for some of its phone tactics. In March, for example, the company agreed to a $45,000 settlement with the Michigan Attorney General’s office for misleading senior citizens in their phone pitches. ACS names 39 creditors in the court documents it submitted last month, including AT&T, the cities of Dearborn and Southfield, Ricoh, PNC Bank, Oakland County, a Missouri law firm and a Syracuse, N.Y. headphones company. It owes the IRS more than $15.5 million and the state of Michigan more than $1.1 million, according to court documents.

James River Coal Files for Chapter 11 Protection

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James River Coal Co. filed for chapter 11 bankruptcy protection after struggling with a steep drop in prices and demand for both thermal and steel-making coal, Reuters reported yesterday. The company also said that it would enter into a $110 million debtor-in-possession financing facility with several large financial funds. James River, which expects to continue its mining operations and customer shipments through the restructuring process, said that it would use the new funding to support its business on approval by the bankruptcy court.

Speech-Technology Company DynaVox Files for Bankruptcy

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Speech-technology company DynaVox Inc. and two affiliates have filed for chapter 11 protection in a bid to put the brakes on a move by secured lenders, the Wall Street Journal reported today. The company is grappling with restructuring its assets and debts estimated at between $10 million and $50 million. A supplier of systems and software to help people with speech, language and learning challenges, DynaVox warned shareholders last year it was under pressure to pay off debts.

Streetwear Brand Ecko Seeks Chapter 11 Protection

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Youth-oriented streetwear brand Ecko Unltd. sought chapter 11 protection on Wednesday citing the "fickle" tastes of its target audience and the economic downturn as prime causes of the company's waning sales, Dow Jones Daily Bankruptcy Review reported today. Founded in 1993 by designer Marc Ecko and two partners, Ecko evolved from "just six T-shirts and a can of spray paint" into "a full scale global fashion and lifestyle company," according to a filing in U.S. Bankruptcy Court in Trenton, N.J. Ecko plans to auction off its assets in chapter 11.

Partners in Failed Foxwoods Casino Project File for Bankruptcy

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The partnership behind the failed Foxwoods Casino project in South Philadelphia filed Monday for bankruptcy court protection, citing claims of $23.6 million from 14 creditors, Philly.com reported today. In addition, Citizens Bank, the largest creditor, is owed an unspecified amount, according to the court petition. The partnership last week sold its largest asset, a vacant 16.5-acre lot on South Columbus Boulevard between Tasker and Reed Streets. The property was transferred to developer Bart Blatstein for $13 million. Of the proceeds, $8 million went to the City of Philadelphia to settle a tax bill.

Select Staffing to Reorganize Under Chapter 11 Protection

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Select Staffing, which provides temporary staffing services in a variety of industries, filed for chapter 11 protection yesterday after reaching a restructuring deal with its lenders, Dow Jones Daily Bankruptcy Review reported today. The family-owned company is seeking a quick restructuring by way of a pre-packaged chapter 11 plan, for which it has already secured the support of many of the lenders who would own the reorganized company. The plan would raise $225 million in new equity capital and $470 million in new debt to pay its creditors and continue funding its operations.

Legendary Capitol Hill Bar Hawk n Dove Files for Bankruptcy

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The owner of a handful of popular Washington D.C. bars and restaurants — including legendary Capitol Hill watering hole Hawk ‘n’ Dove — filed for bankruptcy protection on Friday, the Wall Street Journal reported on Saturday. Baltimore-based Barrack’s Row Entertainment filed for chapter 11 protection, putting eating spots like Hawk ‘n’ Dove, Senart’s Oyster House and The Chesapeake Room into protection with it. Barrack’s Row, which is owned by a group of investors, said that it has between $1 million and $10 million in debt.

Seismic Data Provider Global Geophysical Files for Bankruptcy

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Global Geophysical Services Inc., a provider of seismic data to oil and gas companies, filed for bankruptcy due to heavy debt and said it was seeking court approval for $60 million in debtor-in-possession financing, Reuters reported today. Global Geophysical said on Tuesday that its foreign subsidiaries were not included in the bankruptcy filing. Demand for seismic data, which creates images of the earth's subsurface and helps companies to identify oil-and-gas-bearing structures, has risen as energy companies increase exploration in remote and difficult areas. Global Geophysical had warned of a liquidity crunch earlier this month.

Dolan Co. Files Bankruptcy to Cut Foreclosure Unit Debt

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Dolan Co., a provider of legal-support services and publishing, filed for bankruptcy after agreeing to be taken over by lenders to cut debt linked to its former mortgage foreclosure-processing business, Bloomberg News reported yesterday. The Minneapolis-based company listed debt of $185.9 million and assets of $236.2 million as of Sept. 30 in a Chapter 11 petition filed today in Wilmington, Delaware. Dolan said that it didn’t expect its DiscoverReady LLC document-review unit to join it in bankruptcy. All company services, including those provided by DiscoverReady, will continue without interruption, according to the statement.

Money Centers of America Files for Bankruptcy

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Money Centers of America, which operates check-cashing services in American Indian casinos, filed for chapter 11 protection on Friday amid continuing legal disputes with several American Indian groups, the Wall Street Journal reported on Saturday. Last year, a federal judge in Minnesota ordered the suburban Philadelphia company to pay the Mille Lacs Band of Ojibwe Indians $5.6 million. That judgment now exceeds $6.7 million, according to court papers. The case involved Money Centers’ soured deal with the Corporate Commission of the Mille Lacs Band. The tribe would advance cash to Money Centers for use in its transactions with gamblers at two casinos. Money Centers was to repay the advances but, when it fell behind, the tribe sued. Money Centers has appealed the ruling.