Fewer publicly traded companies filed for bankruptcy last year, according to court documents.  2011 was the third year in a row that fewer large companies filed for Chapter 7 or Chapter 11 bankruptcy.

In total, 88 public companies filed for bankruptcy in the U.S. last year.  In 2010, 106 publicly traded companies sought bankruptcy protection, and, in 2009, 211 public firms filed for bankruptcy.  

Notable publicly traded businesses that filed for bankruptcy in 2011 include AMR Corp., Borders Group Inc., and MF Global Holdings Inc.  The average amount of assets listed in bankruptcies filed by public companies in 2011 was $1.2 billion.

Contact the Arizona business bankruptcy attorneys of the Harmon Law Office at 480-829-0494, if you or someone you know would like to speak with an experienced bankruptcy attorney about saving your business through Chapter 7 or Chapter 11 bankruptcy.

The American Airlines parent company has stated that they will be eliminating 13,000 jobs as a part of their bankruptcy protection plan.

AMR Corp. has stated that they plan on elminating 20 percent of labor costs and has stated that they will now begin negotating with unions. 

In the month of December, AMR lost nearly $904 million and officials have stated that the restructing process will help them meet challenges, cut spending and become profitable again. The company has also stated that they will be changing their pension plans. 

If yo of the u or a loved one has been considering filing for bankruptcy, you need representation on your side that may be able to help you with the process step by step. Contact the Arizona business bankruptcy lawyers Harmon Law Office by calling 480-829-0494 today. 

In order to understand bankruptcy, it may be a good idea to know the difference between debts that can be wiped away by filing and those that can not.

If you are looking to file for bankruptcy in order to rid yourself of student loans, child support, alimony, restition, secured debt, income tax liability, and legal fees and credit card fees associated with  an ex-spouse.

One exception, is that you are allowed to give up a car, jewelry and other purchased goods to a lender in order to rid yourself of this payment.

If you or a loved one has questions about debt or want to know how you can best resolve yours, contact the Arizona debt negotiation lawyers of the Harmon Law Office by calling 480-829-0494 today.

This week, a restructuring plan submitted by newspaper publisher Lee Enterprises was approved in federal court.  The Arizona Daily Star and around 50 other newspapers across the country are published by Lee Enterprises, which filed for Chapter 11 bankruptcy in December 2011.

Under the plan, Lee Enterprises will have until December 2015 and April 2017 to pay back about $855.8 million in debt to first- and second-lien creditors.  The company hopes that the approval of the plan will allow them to exit bankruptcy by January 30.

In addition, the plan states that some of the company's creditors will assume a total of 13 percent ownership in the business through the bankruptcy.  Chief Executive Mary Junck said of the approved plan, "This is the favorable outcome we fully expected, and it provides Lee with a nearly four-year runway to continue improving our balance sheet."

To learn more about reorganizing your business under Chapter 11 bankruptcy, contact the Arizona Chapter 11 bankruptcy lawyers of the Harmon Law Office, LLC by calling 480-829-0494 today.

The Eastman Kodak Co., the New York-based imaging company, filed for bankruptcy on Jan. 19 listing debt near $6.8 billion.

According to court reports, Kodak named Wal-Mart Stores, Inc., Sony Entertainment, and Pension Benefit Guaranty Corp. as a few of the large creditors. Wal-Mart has a claim against Kodak for nearly $11.4 million  and was named the largest unsecured creditor.

PBGC has stated that they are going to help protect the pension plans that are sponsored by Kodak. These pension plans cover about 63,000 people. 

If you or a loved one are struggling with debt, this is the time to discuss your options with an experienced representative. Contact the Arizona bankruptcy lawyers of the Harmon Law Office today by calling 480-829-0494 today.

The U.S. Airways Group is currently seeking a merger with AMR Corp. in order to increase revenue and help the route system that American Airlines currently has.

AMR currently has the ability  to file for reorganization and the bid from U.S. Airways to combine the airlines may not occur for another year. Some think that the combination of U.S. Airways, the fifth largest airline, with American Airlines, will help close a gap the opened when business travelers began to change their airlines.

This combination will bring the airways up to the same national market share as Delta Airlines, Inc., United Continental Holdings Inc., and Southwest Airlines. The Arizona-based company, U.S. Airways are currently "weighing their options."

If you or a loved one has been considering bankruptcy in order to settle debt, contact the Arizona business bankruptcy lawyers of the Harmon Law Office by calling 480-829-0494 today.