Recently in Chapter 11 Bankruptcy Category

The Oscars, as (some) Hollywood aficionados may be aware, are held at Kodak Theater. But what happens when Kodak, the iconic photography company, is undergoing bankruptcy, as discussed by FindLaw’s Phoenix Bankruptcy Law News?

Well, it turns out that, the Oscars might not, after all, be at Kodak Theater this year. This is because Eastman Kodak Co. has petitioned a U.S. Bankruptcy Court to have the Kodak moniker removed from the Oscars venue, reports Variety.

David Darnell Brown, the rapper known as Young Buck, is facing bankruptcy and may have to dispose of his trademarked name during the liquidation, reports the Tennesseean.

A big part of Young Buck's financial difficulties is a contract dispute with the record label run by rapper 50 Cent, as noted by FindLaw's Celebrity Justice Blog.

Hostess Brands Inc., the maker of the popular Twinkies and Wonder Bread, is filing for bankruptcy, reports the Wall Street Journal.

The purveyors of the cream-filled fantasy are based in Irving, Texas, and employ roughly 19,000 people, while carrying nearly a billion dollars in debt. The debt persists despite nearly $2.5 billion in sales. The reason is that all the good stuff that goes into those delicious morsels of heavenly manna with no nutritional value is costly (as divine foods should be). What is not so divine? Those lackluster sales.

A school connected to the now infamous Atlanta pastor Eddie Long is shutting down, reports WSBTV.

The New Birth Christian Academy, which had operated for 18 years inside New Birth Missionary Baptist Church, is no more. Tuition ranged from $5,725 for New Birth members to about $6,000 for non-members with more than $1,000 in non-refundable fees, reports NewsOne.

Sears Holdings is planning on closing between 100 and 120 stores nationwide, reports the Atlanta Business Journal. The closings will include both Sears and Kmart stores.

Sears Holdings has 11 Sears in Atlanta, and 10 Kmart stores, reports the Biz Journal. There is a Sears department store in Athens as well.

The final list for the closed stores will be posted on http://www.searsmedia.com, reports the Associated Press. A hop over to the website shows that the list of closed Sears and Kmart stores is not yet up.

Quiznos, a national sandwich chain is struggling to restructure its nearly $870 million debt load, reports the Wall Street Journal.

If the deal with Avenue Capital Group does not work out, a Quiznos bankruptcy may not be far off.

Quiznos, which first came to prominence through the radical idea of toasting subs and sandwiches, became a popular franchise over the past decade and has various Atlanta locations. But it has faced a sharp downturn and because it is privately owned it has been hard to get more information, reports the Denver Post

A Georgia-based consumer lender is bankrupt because its customers didn't repay their loans, reports 11 Alive. Some might consider this ironic.

The Money Tree bankruptcy is filed in the Middle District of Alabama where its accountants are located, reports the Atlanta Business Chronicle. The company's core business is in giving small consumer loans through its lending branches across the South. It currently has 92 branches. Of course, small lenders like The Money Tree will struggle in an economy where people can't repay more basic things -- like medical bills or mortgages.

Is the recession over? It is if you rely on the fact that U.S. bank credit is at the highest point in three years and banks are easing lending then the answer is yes, reports Business Week.

According to Business Week:

Financial institutions increased commercial and industrial loans by an average annual pace of almost 10 percent in the third quarter, the highest since the comparable quarter in 2008, compared with a 1.7 percent decline in the past four years, according to Fed data. The latest numbers show loan growth of 15 percent, seasonally adjusted, in October and 6.1 percent in November.

What does this mean?

The average income of the top one percent fell during the recession, reports the New York Times.

If you are rich, the statistics are alarming. The share of income received by the top 1 percent dropped to 17 percent of the American total from 23 percent in 2007. In terms of money, average income of the top one percent fell from $1.4 million in 2007 to less than a million in 2009, reports The Times.

Bayside Capital recently completed its acquisition of Alexander Gallo Holdings, the parent company of a troubled court reporting and litigation solution company based in Atlanta, reports Fortune. Bayside Capital provided Alexander Gallo with $20 million in new financing to pull off the deal.

Alexander Gallo Holdings is the parent company of Esquire Deposition Solutions and Sanction Solutions, which provide litigation support to more than 10,000 law firm offices and corporate clients nationwide, reports the Miami Herald.