Business Law

From large corporations to small business, get the latest on lawsuits, bankruptcies, international business, banking, and more.

Aug 11, 2010

Sea Island Company recently filed for bankruptcy protection in federal court in Brunswick, Georgia, the Associated Press reports.

In its plan to emerge from Chapter 11, the company will sell its resorts on the coast of Georgia, in addition to private clubs and golf courses for a total of $197.5 million.

According to court filings, the company is more than $482 million in debt after using the money for expansion and renovation on the island.

Aug 6, 2010

The Texas Rangers, who were recently allowed to add payroll by trading for starting pitcher Cliff Lee and first baseman Jorge Cantu despite having filed for bankruptcy protection, are close to exiting federal protection, the Associated Press reports.