bankruptcy

Metro Home Builders Inc. files for Ch. 7 bankruptcy

Metro Home Builders Inc. files for Ch. 7 bankruptcy
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A home builders group goes bankrupt, and their downfall is leaving customers in limbo.

The bankruptcy filing shows that Metro Home Builders Inc. had nearly 60 construction contracts uncompleted.

An attorney WINK News spoke to said that customers should be expecting a letter in the mail in a few days.

The letter outlines the next steps, the most important one being filing a proof of claim.

Former client Rosa Paz Vieira was so close to having her dream retirement home. Instead…

“No landscaping, no septic, no driveway, no irrigation, no vegetation removal, no ac units, no toilets, no hardware,” Viera said.

For four months, nobody came to work on her home.

“They kept ignoring our emails. Nobody would ever reply to anything. So, we went to the main office, and that moment we were confronted with a new owner saying Metro Home Builders is no longer in business. They have sold their property,” Viera said.

Viera had just one of the nearly 60 construction contracts that have now been left in limbo.

“We’re about 65-70% complete,” Viera

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August 17, 2023 by ATTORNEY

Purdue Pharma bankruptcy plan halted by SCOTUS

The U.S. Supreme Court on Thursday temporarily blocked Purdue Pharma’s plan to emerge from bankruptcy that shielded the founding Sackler families from liability in the nation’s opioid epidemic.

The application for a stay, brought by the U.S. Department of Justice, was presented to Justice Sonia Sotomayor and referred by her to the wider court, which agreed to hear argument on whether the nation’s bankruptcy laws allow a court to approve, as part of a plan of reorganization under Chapter 11, a release from litigation for third parties who are not themselves filing for bankruptcy.

A bankruptcy court judge had approved the reorganization plan for Purdue Pharma that reconstituted the company under another name while paying out billions of dollars to cities, states and Native American tribes afflicted by the opioid crisis — and insulated the descendants of the founding Sackler brothers from liability claims.

A federal judge in New York initially blocked the reorganization, however, ruling that bankruptcy laws do not allow liability shields to be given to parties that aren’t actually filing for bankruptcy.

An appellate court disagreed, reinstating the bankruptcy plan, and the DOJ asked the U.S. Supreme Court to intervene.

In a statement, Purdue Pharma

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August 12, 2023 by ATTORNEY

J&J Jury’s Cancer Verdict Ramps Up Pressure on Bankruptcy Vote

An $18.8 million jury verdict in favor of a man who said Johnson & Johnson’s baby powder caused his cancer poses a potential setback for the company’s efforts to rally support behind its talc unit’s bankruptcy settlement.

The July 18 verdict is the first in nearly two years to consider the health risks of J&J’s baby powder. It bolsters plaintiffs’ attorneys who have argued during the bankruptcy of J&J’s affiliate, LTL Management LLC, that the talc-based product causes cancer.

By awarding Anthony Hernandez Valadez millions, the California jury has thrown J&J a curveball and potentially influenced claimants to vote against the proposed $8.9 billion settlement designed to resolve tens of thousands of talc claims in LTL’s bankruptcy. It could also place pressure on the judge overseeing the case by inspiring others to try to pursue their claims in front of a jury.

“I think that this verdict supports our view that this is not an adequate proposal and I think any plaintiff should consider this as part of their decision about what they tell their lawyers,” said Chris Tisi, an attorney with Levin Papantonio Rafferty who represents talc claimants.

The verdict is one of multiple large jury verdicts awarded over

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July 27, 2023 by ATTORNEY

Johnson and Johnson bankruptcy claim is a ruse to limit liability, cancer victims say

Juliet Gray has felt many things since she was first diagnosed with peritoneal mesothelioma two years ago.

Pain, which flares up when she’s stressed or tired. Fear, with every new doctor’s visit as she dreads the return of her rare, terminal cancer. Heartache, when she thinks of her 9-year-old son and how quickly her time with him is running out.

Mostly, though, she’s mad. She’s furious with New Jersey-based pharmaceutical giant Johnson & Johnson, whose talc products she blames for her incurable cancer. And her fury recently curdled into betrayal after Johnson & Johnson filed for bankruptcy in a controversial strategy company attorneys say will expedite the nearly 40,000 lawsuits against them.

Critics say the company — worth over $400 billion — is far from bankrupt and instead just wants to keep their cases from being heard by juries. Maryland-based attorney Jonathan Ruckdeschel, who has filed several lawsuits against J&J, said such a strategy forces plaintiffs into a collectively negotiated, judicially enforced settlement and removes their Seventh Amendment right to a jury trial.

“What they’re trying to do is cram everybody into a one-size-fits-all mandatory settlement that nobody has the choice to opt in or out of, and if you

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July 13, 2023 by ATTORNEY

Man gets probation for bankruptcy fraud after hiding ‘Dukes of Hazzard’ car replica from creditors

A Wisconsin man was sentenced to three years probation and a $1,000 fine for bankruptcy fraud Thursday after he tried hiding a pair of vintage cars from his creditors.

Bruce Polczynski, 57, of Minocqua, Wisconsin, lied to a U.S. bankruptcy trustee about the existence of his 1969 Dodge Charger painted to be a replica of the General Lee from the “Dukes of Hazzard” TV show, as well as his 1979 Pontiac Firebird Trans Am.

Polczynski’s deception did not hold up for long, and both vintage cars were seized and sold in order to pay back his creditors. Polczynski pleaded guilty to bankruptcy fraud on March 31.

Prosecutors say that Polczynski‘s story should serve as a deterrent to others trying to get away with bankruptcy fraud.

“Polczynski’s story, where he was quickly stripped of the assets he tried to hide, suffered the embarrassment of federal prosecution, and received a felony conviction, is a compelling cautionary tale for anyone considering bankruptcy fraud,” said U.S. Attorney for the Western District of Wisconsin Timothy O’Shea in a statement.

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July 9, 2023 by ATTORNEY
December 2024
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