Bizjournals Green

All business transactions bear some level of risk, but when you’re dealing with a client in Chapter 11 things can get tricky.

Three months after filing for bankruptcy protection, the management team behind the Honolulu Symphony Society says it has a plan to emerge as a smarter organization with a reduced budget “that Honolulu can afford.”

Metro-Goldwyn-Mayer has presented a plan to its creditors that would avoid the sale of the studio and its film library, according to a Reuters report.

The number of South Floridians filing for personal bankruptcy rocketed up in March, rising almost 50 percent over last year, according to statistics from the U.S. Bankruptcy Court.

Solyndra’s auditors have questioned whether the Fremont-based solar startup, and recipient of federal loan guarantees, can continue doing business in the face of mounting losses and mountainous debt.

Movie rental company Blockbuster Inc. has received notice from the New York Stock Exchange that the company has fallen below the NYSE’s minimum listing standing in terms of the company’s minimum average global capitalization. (BBI)

Tom Petters' defense lawyers are arguing their client's sentence should total no more than four years, according to court filings. Among their arguments: Bernard Madoff received a sentence of 2 and one-third years per $1 billion investors lost, so Petters' time in jail for a much smaller scheme should total four years.

The court-appointed trustee for the Statler Towers said he is willing to cooperate with Buffalo Mayor Byron Brown and his City Hall staff concerning the fate of the mothballed downtown landmark, but he may hamstrung by limited financial sources that can be tapped.

Yesner & Boss law firm has added a family law division to help clients facing issues of divorce and foreclosure.

Four companies that own 25 Arby’s restaurants in North Carolina, Florida and Virginia are seeking to reorganize under Chapter 11 of the U.S. Bankruptcy Code. The North Carolina restaurants are in Raleigh, Wake Forest, Garner, Apex, Cary, Wilson, Rocky Mount and Clayton. (WEN)

Carolina Place mall owner General Growth Properties Inc. has filed a motion with a federal bankruptcy court in New York to emerge from Chapter 11. (GGP)

A federal judge has approved Evident Technologies Inc.’s plan to emerge from bankruptcy.

Mall owner and operator General Growth Properties Inc., which owns The Streets at Southpoint mall in Durham, has filed a motion with a federal bankruptcy court in New York, requesting permission to emerge from Chapter 11 bankruptcy. (GGP)

The Hawaii Medical Center wants its two hospitals to operate as not-for-profit entities as part of its plan to emerge from bankruptcy.

Efforts to complete a sale of the Phoenix Coyotes before the end of the June are proving to be challenging, with money and lease terms the main obstacles.

March bankruptcy filings soared 32 percent over the previous year as the economy continued to take its toll on Hawaii residents and businesses.

The Los Angeles, Riverside/San Bernardino and Sacramento areas of California continued to lead the nation in commercial bankruptcy filings, but Phoenix also ranks among hardest-hit metros, according to a report released Thursday by Equifax Inc. (EFX)

Los Angeles, Riverside/San Bernardino and Sacramento metropolitan areas continued to lead the nation in commercial bankruptcy filings as they did at the end of both the second and third quarters last year, according to a new report. (EFX)

Wurzburg Inc. has won a temporary injunction against two former account managers who violated their non-compete agreements with the company.

The litigation between Lehman Bros. Holdings and Miami Beach-based WSG Development Co. escalated with two additional foreclosure actions in late March.