Increased California Homestead Exemption will Provide Relief for Greater Number of Homeowners who File Bankruptcy
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California passed legislation late in 2020 which increased the amount of equity that a homeowner can protect in their residence when filing for bankruptcy up to $600,000 according to Law Offices of Larry D. Simons. Previously the maximum amount of equity that could be protected was $175,000.00 and this amount was only available to seniors, disabled and low income. The new homestead amount applies to homeowners regardless of age and/or marital status. MISSION HILLS, Calif. (PRWEB) January 06, 2021 Effective January 1, 2021, homeowners in Los Angeles and Orange County that have equity in their primary residence of $600,000.00 or less can now seek relief from their debts through a federal bankruptcy proceeding and still be able to keep their residence.
Park Place at Elmhurst would restructure and redeem $141 million of bonds issued to exit its 2016 Chapter 11 under a plan pending before a bankruptcy court.
Here are some of Rigzone s top upstream stories during the last week, just in case you missed them.
Here are some of Rigzone s top upstream stories during the last week, just in case you missed them…
Eni Finds Oil in Egypt Desert
Eni announced a new oil discovery in the Meleiha Concession in the Western Desert of Egypt. The discovery well, which was said to have encountered an 85 foot oil column in the Cretaceous sandstones of the Alam El Bueib 3G formation, is located a mile south of the main Arcadia field already in production.
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Canada Gov Supports Hibernia Project
Pacific Drilling Announces Successful Completion of Balance-Sheet Restructuring and Emergence from Chapter 11 Process LUXEMBOURG (Business Wire) Pacific Drilling S.A. (the “Company”) announced today that the Company and each of its debtor affiliates have emerged from the Chapter 11 process, signaling the successful completion of the Company’s balance-sheet restructuring and the implementation of the
Modified First Amended
Joint Plan of Reorganization of Pacific Drilling S.A. and its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code (the “Plan”) confirmed by the United States Bankruptcy Court for the Southern District of Texas on December 21, 2020.
Pursuant to the Plan, all of the Company’s outstanding common shares were deemed to have no value and will receive no recovery. In accordance with the restructuring transactions contemplated by the Plan, upon emergence, the Company has a new parent company, Pacific Drilling Company LLC, a Cayman Islands limi
As part of its confirmed plan, Pacific Drilling will de-lever its balance sheet by eliminating over $1 billion of funded debt obligations.
Pacific Drilling S.A. (OTC: PACDQ) has announced that the United States Bankruptcy Court for the Southern District of Texas confirmed the First Amended Joint Plan of Reorganization of Pacific Drilling S.A. and its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code.
The company’s chief executive officer, Bernie G. Wolford, said the court’s confirmation of Pacific Drilling’s plan represents an important milestone in the company’s progress towards emergence by year-end with a fully de-levered balance sheet “and the capacity to deliver world class drilling services with our fleet of 6