The Swiss Cake bakery closes after 36 years
July 26, 2012
More than three decades after opening its doors in Hato Rey, Puerto Rican bakery The Swiss Cake has closed and filed for Chapter 7 bankruptcy protection to liquidate its assets.
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Facing foreclosure, Perichi’s Hotel files for Ch. 11
July 2, 2012
Empresas Playa Joyuda Inc., owners of the 50-room Perichi’s Hotel, Restaurant & Cocktail Lounge in Cabo Rojo, filed for Chapter 11 protection at the U.S. Bankruptcy Court last Friday, News is my Business learned.
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AA looking to get out of LMM lease
May 11, 2012
American Airlines, once the anchor and darling of the Luis Muñoz Marín International Airport, filed a motion in a U.S. Bankruptcy Court in New York stating its interest in getting out of its lease agreements with the government for the use of the facilities, the Dallas Morning News reported Thursday.
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February bankruptcy filings down 11%
March 2, 2012
The island's bankruptcy filings continued to drop in February, when 11 percent fewer cases were submitted to the court, versus the same month in 2011, according to preliminary numbers released Thursday by research company Boletín de Puerto Rico.
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Plaza Las Américas retains control of former Borders space
January 18, 2012
After several months of waiting for a decision, the U.S. Bankruptcy Court in New York overseeing the Borders liquidation case granted Plaza Las Américas’ petition to retain control of the space the bookstore held at the Hato Rey mall prior to going out of business.
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November bankruptcies plunge 19%, YTD totals 9% below ‘10
December 2, 2011
The number of bankruptcy petitions filed last month in Puerto Rico was 19 percent below the same month last year, Boletín de Puerto Rico revealed Friday. The preliminary numbers show that so far this year, the number of filings on record is 9 percent lower than those on record for the same 11-month period in 2010.
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Bankruptcies uphold 7-month decline with 8.3% drop in October
November 28, 2011
The island’s bankruptcy rate held on to its seventh consecutive monthly decline in October, when a total of 1,077 cases were submitted to the U.S. Bankruptcy Court. The figure represents 90 fewer filings and an 8.35 percent drop in comparison to the same month last year, research firm Boletín de Puerto Rico reported.
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Plaza Las Américas makes a move for Borders’ location
September 7, 2011
Plaza Las Américas will submit an offer before the U.S. Bankruptcy Court for the Southern District of New York to retain the space that will soon be vacated by Borders bookstore, as part of its liquidation process, the mall’s management said Wednesday in what seems like a surprise move.
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Plaza Las Américas Borders lease to be auctioned Sept. 20
September 6, 2011
The Plaza Las Américas Borders bookstore will be auctioned by a New York bankruptcy court on Sept. 20, opening the door for a group of local investors headed by entrepreneur Amaury Rivera to pick up the lease for the once thriving operation.
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245 bankruptcy cases filed on last day of August
September 2, 2011
While the month of August saw a 4 percent drop in the number of bankruptcy cases filed, the U.S. Bankruptcy Court in Puerto Rico received a whopping 245 petitions during the last day of the month, local research firm Boletín de Puerto Rico reported Friday.
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Best Western Airport hotel management files for Ch. 11
August 12, 2011
Just three years after taking over the control of the Luis Muñoz Marín International Airport’s 125-room Best Western hotel, management company Hotel Airport Inc. has filed for Chapter 11 bankruptcy protection.
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P.R. bankruptcy filings drop 30% in July
August 2, 2011
Puerto Rico’s bankruptcy levels continued their downward trend last month, when the total number of companies and individuals who turned to the U.S. Bankruptcy Court for help was reduced by 30 percent in comparison to the same month in 2010.
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Borders on track for liquidation, P.R. exit likely
July 15, 2011
The decision Thursday by the U.S. Bankruptcy Court judge overseeing the Borders Chapter 11 proceeding could send the bookstore chain, which still has one location left in Puerto Rico, into a liquidation of its assets.
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Bankruptcies down 15% in June
July 1, 2011
Island bankruptcy cases for the month of June were down 15 percent, with personal cases filing the most marked drops, a preliminary tally from Boletín de Puerto Rico released Friday showed.
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May bankruptcies continue double-digit drop streak, individuals pulling out of funk fastest
June 1, 2011
The number of bankruptcy cases filed in May reflected a year-over-year 14 percent drop, with a total of 970 cases filed, research firm Boletín de Puerto Rico said Tuesday.
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