The court has recently ordered the Arizona Heart Institute to inform patients that they are filing for bankruptcy and is planning a sale to a Tennessee-based company. The court announced that the patients need to know these details in order to make the best medical desicions for themselves.

The cardiac physicians group filed for Chapter 11 bankruptcy in late July and announced that they would be sold to Vanguard shortly after. The chief operating officer of the institute said that she did not think that notifying the patients was necessary at first because the surgeries that they perform do not have to do with the bankruptcy filings because they are performed at Arizona Heart Hospital. Since the institute began telling patients, no concerns have been raised.

If you or a your business are considering filing for bankruptcy, contact the Arizona business bankruptcy lawyers of the Harmon Law Office, LLC by calling 480-829-0494 to discuss your legal options.

Last Friday, an Arizona judge approved the Arizona grocer Bashas' Inc.'s plan to exit Chapter 11 bankruptcy.  Judge James Marlar, who approved the plan, said that he approved Bashas' Inc.'s exit strategy despite objections from its creditors because he believed it would speed up the case and benefit all parties involved.  

"Any new plan could not exceed the 100 percent payment now proposed ... It would be futile to go back to the drawing board, with an acceptable 100 percent payment plan now before the court," stated Marlar.

Bashas' filed for Chapter 11 bankruptcy in June 2009 with $271 million in liabilities and $386 million in assets.  Chapter 11 bankruptcy allows a business to continue operating while they restructure the company and create a plan to pay off lenders.  Bashas' Inc. plans to pay back $155 million in remaining debt over a three year period.

If you or someone you know is considering filing for Chapter 11 bankruptcy protection, contact the Arizona Chapter 11 bankruptcy lawyers of Harmon Law Office, LLC at 480-829-0494 to learn more about your rights. 

According to the U.S. Bankruptcy Court in Phoenix, bankruptcies in Phoenix fell to 2,585 last month, from 2,656 in June and 3,063 in March.  Compared to 2009, bankruptcy stats in Phoenix are also improving.  For example, last month's total number of bankruptcies was only 11 percent higher than July 2009.  Bankruptcies in March 2010, however, were up 59 percent from March 2009.

Bankruptcy experts are citing the real estate market as the biggest reason for bankruptcy filings in Phoenix and Arizona.  

Four out of five bankruptcies were filed as Chapter 7 bankruptcies last month.  Chapter 7 bankruptcy allows for a business or consumer to pay off their creditors by liquidating their assets.  The second most type of bankruptcy filed last month was Chapter 13.  Chapter 13 allows individuals to set a plan to pay back their creditors overtime.

Statewide filings were also down in July with a total of 3,526. 

If you or someone you know is considering filing for Chapter 7 bankruptcy, contact the Arizona Chapter 7 bankruptcy lawyers of Harmon Law Office, LLC at 480-829-0494 to learn more about your rights. 

Th Daily Courier reports that it may not be long until the once popular A-1 beer will make it back into your local bar. The beer brand was once called Arizona "Bud." It then fell on hard times, forcing it into bankruptcy.

For people who thought there was no hope for the beer other than its memorabilia, Eli Drakulich has again provided hope. Drakulich purchased the patent and trademark for the beer in bankruptcy court. He then recruited Nimbus Brewing Co. to help distribute the beer.

Now the company is trying to iron out the details, like finding the old recipe for the brew. 

Bankruptcy can be a tough issue to face, but you don't have to face it alone. If your business is facing bankruptcy, contact the Arizona Business Bankruptcy Attorneys at the Harmon Law Office, LLC, by dialing 1-877-829-0494.

According to KSWT, "Arizona grocer Bashas' Inc. is seeking court approval of a plan to reorganize and repay its debts over the objections of its largest creditors." The company has been running with bankruptcy protection under Chapter 11 for a year now. 

Basha has about 125 stores throughout the state of Arizona. Their creditors are opposed to the reorganization plan, which proposes to use its $104 million in cash to pay off some of its $300 million in debt. Creditors do not think the company is financially sound. According to them, a plan like this could sink the grocery chain before it gets to pay the debt.

If you or someone you know is facing Chapter 11 Bankruptcy, contact the experienced Arizona Chapter 11 Bankruptcy Lawyers at the Harmon Law Office, LLC, by dialing 1-877-829-0494.

SARS Auto Transporters, based out of Tucson, filed for Chapter 11 over two years ago. Today, they are emerging stronger and with a few lessons under their belt.

According to The Arizona Daily Star, "Back on its feet, SARS now has 15 drivers - most based in Tucson- using 18-wheelers to move cars, primarily between dealers orbetween auto auctions and dealers. The company operates mainlybetween Tucson, Phoenix, Las Vegas and Los Angeles." The company had 65 employees at the time they filed for protection. Now, they have 40.

Owners Kent and Dale Bauman said they considered giving up many times, but their main concern was feeding their employees and their families.

The Arizona Daily Star reports, "In Arizona, out of 404 Chapter 11 cases filed in 2008, only 56have resulted in confirmed reorganization plans to date, accordingto Nancy Dickerson, chief deputy clerk of the Arizona district ofU.S. Bankruptcy Court."

The Baumans say they are grateful to the customers who stuck with them through everything. 

If your business is facing bankruptcy, you need an experienced attorney on your side. Contact the Arizona Chapter 11 bankruptcy lawyers at the Harmon Law Office, L.L.C, by dialing 480-829-0494.