The commercial real estate brokerage company, Grubb & Ellis, Co., has filed for Chapter 11 bankruptcy.

The company has decided to sell it’s assets to BGC Partners, Inc. for an undisclosed amount. The sale must still be approved by a judge in the bankruptcy case, but if it is approved BGC Partners, Inc. has agreed to finance the company during the process of selling the assets.

After filing for bankruptcy, the company listed their assets at $150 million and their liabilities at $167 million. The New York Stock Exchange dropped Grubb & Ellis, Co. in January after one share of it’s stock fell below the $1 mark.

If your company is considering filing for Chapter 11 bankruptcy, you need experienced representation on your side. Please contact the Boston Chapter 11 bankruptcy lawyers of Joshua Spirn & Associates by calling 800-975-5346 today.

The 67-year-old actor, Gary Busey, has filed for Chapter 7 bankruptcy protection.

He filed the paperwork in Los Angeles, and listed several creditors that he owed money to. There are at least 12 potential creditors that were mentioned in the filing, including a woman that claims the actor tackled her at the Tulsa Airport.

Busey’s liabilities fell between $500,000 and $1 million, while his assets totaled $50,000. The actor, turned reality star, hopes that the bankruptcy protection will allow him to reevaluate his financial situation and start over.

If you are considering filing for Chapter 7 bankruptcy, please contact the Boston Chapter 7 bankruptcy lawyers of Joshua Spirn & Associates by calling 800-975-5346 today.

AMR Corporation, the owner of American Airlines, has announced a strategy that will cut operating expenses for the company by nearly $2 billion annually.

This strategy comes after the filing of Chapter 11 bankruptcy by American Airlines. The new restructuring of the company will involve roughly 13,000 employees being laid off. Employee pension plans may be eliminated from the company as well.

When the airline company filed for bankruptcy, they claimed that they had accumulated $10 billion in debt in the past few years. The  people who could be affected by the terminations range from pilots to maintenance workers for the airline. The official announcement of the layoffs will be made in the coming days.

If you need help regarding Chapter 11 bankruptcy, please contact the Boston Chapter 11 bankruptcy lawyers of Joshua Spirn & Associates by calling 800-975-5346 today.

Hostess Brands, Inc., the makers of Twinkies, has filed for Chapter 11 bankruptcy. This news comes after a recent bankruptcy filing for the company was made back in 2009.

The Irving, Texas company is planning on the continuation of operations during the restructuring. Several lenders have already made a commitment to that process by loaning Hostess $75 million after the bankruptcy filing took place.

The company has listed their assets at $981.6 million as of December 10, 2011. The liabilities for the company far succeed the assets and stand at $1.4 billion. Their popular snack, Twinkies, declined in sales by two percent in the 2011 fiscal year, which contributed to the onset of the filing.

If your company is considering filing for bankruptcy, please contact the Boston Chapter 11 bankruptcy lawyers of Joshua Spirn & Associates by calling 800-975-5346 today.