Casiano Communications Inc., parent company of weekly English-language business publication Caribbean Business and a number of other subsidiaries, filed for Chapter 11 bankruptcy protection Monday, citing more than $8.5 million in debt.
A total of 903 bankruptcy cases were submitted in Puerto Rico last month, with Chapter 13 — those applicable to individuals — leading the filings that resulted in a 3 percent year-over-year increase in activity, preliminary results released by research firm Boletín de Puerto Rico showed Thursday.
Bankruptcy cases filed in Puerto Rico for the month of June were down 9 percent when compared to the same month last year, a preliminary tally from Boletín de Puerto Rico released Tuesday showed.
Shakespeare was right about one who protests too much: When denials are emphatic, it’s probably wise to believe the opposite.
Puerto Rico’s bankruptcy filings jumped by 10 percent year-over-year in March, when 1,007 cases were filed. The bulk of the cases belonged to the Chapter 13 category, which allow individuals to reorganize their finances.
The downward spiral that Puerto Rico’s bankruptcy filings had been on in recent months came to an end in January, when total cases submitted at the U.S. Bankruptcy Court, 706, were down 4 percent, according to statistics released Friday by analyst firm Boletín de Puerto Rico.
Puerto Rico’s overall bankruptcy filings may have dropped in recent months, but that trend isn’t preventing major businesses — and scores of individuals — from seeking the court’s help in droves.
Bankruptcy filings were up 26 percent year-over-year in December, when a total of 1,044 cases were filed, according to preliminary figures released Monday by research firm Boletín de Puerto Rico.
Puerto Rico's economy continued to be a hot button issue as growth continued to stall.
Bankruptcy filings skyrocketed in November, when a total of 823 cases were filed, representing a whopping 20 percent increase when compared to the same month last year, according to preliminary figures released by research firm Boletín de Puerto Rico.
Scrub Island Development Group Ltd., the owner of a posh resort in the British Virgin Islands, has filed for Chapter 11 protection in a Florida bankruptcy court to ward off a request for receivership granted to FirstBank Puerto Rico through which it seeks to collect on a $108 million loan.
The Puerto Rico bankruptcy court saw a slight 2 percent drop in activity in October, when 1,020 cases were filed. During the first 10 months of the year, filings dropped by 4 percent to 9,165 cases, according to research firm Boletín de Puerto Rico, which collects and analyzes court data.
The 874 bankruptcy cases filed in Puerto Rico in September were 4 percent higher than those on record for the same month last year.
Jeans.com, a Puerto Rican clothing retailer established in 1998 catering to men 15 to 40, has filed for Chapter 11 bankruptcy protection, listing more than $5.1 million in debt.
Puerto Rico bankruptcies were down 2 percent in July, when 821 cases were filed at the U.S. Bankruptcy Court, research firm Boletín de Puerto Rico disclosed Monday.
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