Bizjournals Green

A $3.5 million trust David Smith and Lynn Smith set up for their children, and Lynn Smith’s $2.5 million brokerage account, are at the center of a tug-of-war between the Saratoga Springs couple and the U.S. Securities and Exchange Commission.

St. Louis business bankruptcy filings for the 12-month period ending March 31 rose 20 percent to 409, up from 341 filings for the 12-month period ending March 31, 2009, according to a report released Tuesday by Hoffman Clark, a Clayton, Mo., accounting firm.

The lead developer of the Salpare Bay condominium project filed for bankruptcy late Monday in U.S. Bankruptcy Court in Oregon. The move halts an upcoming sheriff’s auction of the failed project.

The owner of an Ybor City restaurant has filed for Chapter 11 bankruptcy reorganization after revealing it owes $120,000 for sales taxes.

Kencorp Inc., a Mt. Juliet paving company, voluntarily filed for Chapter 11 bankruptcy on Friday, listing estimated assets of $205,000 and liabilities of $1.33 million.

Former eBay Inc. chief executive officer Meg Whitman leads Insurance Commissioner Steve Poizner in the battle to become the Republican gubernatorial candidate this fall.

Saying it needs to protect itself from unjustified liability claims, EnPro Industries Inc. has placed a subsidiary under Chapter 11 bankruptcy protection to negotiate all asbestos claims. (GR) (NPO)

The bankruptcy court handling Fuddruckers' parent company reorganization ruled in favor of the restaurant operator, allowing it to keep two disputed Minnesota locations as assets.

April 2010 was a very good month for Randy Sebastian.

A power struggle has broken out between a bank-appointed receiver and the owners of a supplier to the homebuilding industry, with the dispute headed to U.S. Bankruptcy Court.

The developer of part of a South Bay shopping center has filed for bankruptcy protection, after defaulting on an $11.4 million loan borrowed to upgrade the aging center.

A lawsuit is asking who should be held accountable for the second-most-costly bank failure in U.S. history and who should they pay.

FairPoint Communications Inc. lost $241.4 million in 2009, the company’s annual financial report states. And that report also shows FairPoint defaulted on its basic credit agreements last year.

General Motors, Movie Gallery and Pilgrim’s Pride have all been in the news for selling off their distressed assets in the form of commercial property or inventory.

Wall Street shot sky-high in early Monday trading, cutting last week’s deep drops on news that the European Union has taken measures to fix its debt problems. (ATI) (AA) (AYE) (AEO) (BK) (CNX) (DKS) (FII) (HNZ) (KMT) (KOP) (PNC) (PPG) (X) (WAB) (WCC)

Stock Building Supply of Raleigh said Monday that it has entered into an agreement to purchase the assets of Houston-based Bison Building Holdings Inc. and its subsidiaries.

Brown Publishing Co., a Cincinnati-based chain of small-town newspapers and business weeklies, owed about $105 million to creditors when a liquidity squeeze prompted it to file for Chapter 11 bankruptcy protection on April 30, according to the company’s court filings.

Mario Egozi, the Cuban-born developer of a $24 million luxury condominium in North Bay Village, is citing the controversial Helms-Burton Act in a legal battle to fend off a foreclosure lawsuit by a development group with past connections to a resort in Cayo Coco, Cuba.

HOLLY SPRINGS – Veteran real estate developer John Lancaster has filed for bankruptcy protection for the 80-acre Forest Springs residential neighborhood that he and his partners were developing in Holly Springs.

The developer behind the Hotel Monaco in downtown Baltimore is trying to block a potential sale of the historic B&O Building at 2 N. Charles St., where the boutique hotel opened to much fanfare in July 2009.