San Jose and Los Altos Bay Area Bankruptcy news/blog

Los Altos specialty markets saved from bankruptcy

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Andronico's Market is pictured in Los Altos on Friday, Sept. 2, 2011. The specialty market chain...

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As reported by Daily News Staff Writer on 10/27/2011, two Los Altos specialty chain markets may avoid having to close after a private investment firm agreed to save them from bankruptcy.

Renovo Capital bought both San Leandro-based A.G. Ferrari Foods and San Francisco-based Andronico's Markets. After filing for bankruptcy in April, A.G. Ferrari was purchased for $1.2 million a few weeks ago. Andronico's was bought for $16 million last week.
"These things can take a little bit of time, but it's been a very quick process," Andronico's spokesman Adam Alberti said. "It's been a period of around 60 days -- that's really unusual."
Just months after closing branches in Palo Alto, officials from both chains have confirmed that the Los Altos stores are safe and preparing for the holiday season.
However, one of Andronico's four Berkeley stores will close this weekend as part of the bankruptcy proceedings, Alberti said. "It's fairly safe to presume that it was not operating," Alberti said of the store at 1414 University Ave. in Berkeley.
Andronico's employs 440 workers in its stores and state Employment Development Department documents show that 24 jobs will be eliminated with the closure of the University Avenue store.
Founded by Greek immigrant Frank Andronico in 1929, the chain will continue to operate three stores in Berkeley, one in San Francisco and one in San Anselmo. The Andronico's name will be kept, and when asked about CEO Bill Andronico, Alberti said Renovo has "stated
that they intend to keep in large part the executive team."
After an aggressive expansion into the East Bay in the late 1990s failed, Andronico's continued to amass debt until it filed for bankruptcy protection on Aug. 22.
The Palo Alto store at the Stanford Shopping Center closed July 24 after about 14 years in business. Like A.G. Ferrari, which closed its downtown store five months ago, the two chains cut their Palo Alto locations due to high leases. Customers were redirected to the Los Altos branches, where Andronico's operates out of the Rancho Shopping Center and A.G. Ferrari in downtown on Main Street.
A.G. Ferrari was founded in 1919 and also operates two branches in Oakland, three in San Francisco, and one each in Berkeley, Lafayette and Corte Madera. The chain employs about 100 people overall, and fewer than 10 work at the Los Altos store, said Danielle Caponi, A.G. Ferrari's director of marketing.
The Renovo purchase is "a really positive change," Caponi said. Alberti added that there is a lot of optimism at Andronico's that Renovo will enhance the brand.
And there may even be opportunity for collaboration between the two chains in the future.
While Andronico's cater to specialty wine, deli and produce needs, A.G. Ferrari produces pastas, sauces, olive oils and vinegars from all over Italy. Those products could show up on Andronico's shelves at some point, Caponi said

Do you have any questions regarding bankruptcy in San Jose, Milpitas, Los Altos or any city in Bay Area? Please contact the Bankruptcy Lawyers and Debt Relief Attorneys at http://www.nwosulaw.com/ or call 408-912-5983.

San Jose Lawyer - Even Cities are Looking for Federal Bankruptcy Protection

Pa. lawyers, mayor oppose Harrisburg bankruptcy

As reported By MARK SCOLFORO Associated Press on 10/14/2011 12:24:17 PM PDT

HARRISBURG, Pa.—Lawyers for the state of Pennsylvania and Harrisburg's mayor have asked a federal judge to throw out the bankruptcy petition for the city filed this week after a divided City Council voted for it.

Philadelphia attorney Neal Colton filed the state's objections to the bankruptcy on Friday, saying a state law expressly forbids it, while Harrisburg lawyer Kenneth Lee told the court the city and Mayor Linda Thompson believe the petition is not valid.
U.S. Bankruptcy Court Judge Mary France scheduled a status conference on the case Monday morning in Harrisburg.
"No one, least of all the commonwealth, denies that Harrisburg is confronted with serious financial difficulties that must be addressed," wrote Colton, who did not return a phone message. "That is all the more reason, however, why Harrisburg cannot afford to waste any further time and resources on this patently illegal usurpation of the commonwealth's sovereignty."
The law he cited was passed earlier this year to prohibit any third-class city that qualifies under state law as "financially distressed," a description that fits Harrisburg, from filing for bankruptcy until July 2012, and that it would lose all state funding if it did.
"The commonwealth is unaware of any reported case, from any jurisdiction in the United States, in which a municipality such as Harrisburg has so brazenly disregarded an express statutory denial of authority to file a Chapter 9 petition,"
Colton argued. Mark D. Schwartz, the lawyer hired by the council to pursue the bankruptcy, said the law is poorly worded and is unconstitutional because it targeted Harrisburg in particular.
"This hardly seems to be a prohibition," he said. "It says you shouldn't, but if you do, this is what happens. OK, fine."
He said a small amount of state funding is at stake.
"If that's the penalty for filing, so be it," Schwartz said.
Lee said the council majority and Schwartz did not have the authority to file for bankruptcy and asked France to dismiss the petition.
"The city is extremely concerned that members of the City Council and attorney Schwartz will attempt to further perpetuate this unauthorized bankruptcy case to the detriment of the city, its creditors and other stakeholders in blatant disregard of the proper procedures for the functioning of the city," Lee wrote in an emergency request filed late Thursday.
Schwartz said Thompson is not entitled to play an active part in the bankruptcy case.
"That may be the one thing the governor, General Assembly and I agree on—she has absolutely no role in these proceedings," he said.
Schwartz filed the Chapter 9 bankruptcy petition after City Council voted 4-3 Tuesday to authorize it. It said the city is saddled with about $458 million in creditors and claims, and is in "imminent jeopardy" from six pending lawsuits related to its aging, debt-saddled municipal incinerator.
The council majority and Thompson have clashed over a recovery plan developed with state officials, leading area state lawmakers to push a bill that would let the governor declare a state of fiscal emergency and install someone to make decisions about government services and spending.
That measure, supported by Gov. Tom Corbett, has passed the House and is expected to be taken up by the Senate next week.
 Are you looking for a San Jose Bay Area Bankruptcy Attorney or San Jose Debt Relief Lawyer to help to determine if filing bankruptcy will help you? Please contactus at 408-912-5983 or http://www.nwosulaw.com/ in San Jose, CA

San Jose Accident - Motorcyclist was killed on the highway in San Jose

As reported in San Jose examiner on 10/28/2011, Highway 101 in South San Jose was shut down for an hour last week when a motorcyclist was killed on the highway.
The California Highway Patrol reports that Hoc Nguyen, 28, was headed southbound on his 2009 Yamaha motorcycle last Thursday at about 11 p.m. when he struck some ladders that had fallen onto the freeway.  The incident resulted in a crash that sent the San Jose man flying into oncoming traffic where he was hit by a car.
The driver of the car, a 63-year-old Gilroy man, remained on scene and was not injured or charged with any crime.
The CHP investigation revealed that Nguyen was driving at about 70 mph at the time of the crash, authorities said Tuesday.  It is believed that he landed two lanes away from the initial crash site near Metcalf Road.
It is unknown how the fiberglass ladders, which were partially blocking two lanes, wound up on the freeway.

Are you looking for a San Jose Bay Area Injury Attorney or San Jose Accident Lawyer to help to determine the value of your case? Please contactus at 408-912-5983 or http://www.nwosulaw.com/ in San Jose, CA


Continue reading on Examiner.com San Jose motorcyclist killed after striking ladders in the roadway - San Francisco Crime | Examiner.com http://www.examiner.com/crime-in-san-francisco/san-jose-motorcyclist-killed-after-striking-ladders-the-roadway#ixzz1bZ6PJ1X1

San Jose Car Accident caused by a Deer

San Jose man in critical condition following I-280 accident

As reported in Daily News dated 09/23/2011, a San Jose man remained in critical condition Friday after striking a deer on Interstate Highway 280 and then being hit by another car, according to a California Highway Patrol report.

Daniel Strickland, 27, was driving a 2011 Volkswagen south on Highway 280 at about 8:10 p.m. Thursday when he hit the deer north of Alpine Road, the report said. About a minute after the collision, a 2006 Audi driven by Christopher Librie of Mountain View slammed into the back of Strickland's car as it sat stationary in the No. 2 lane.
Librie, who was driving about 65 mph, told the CHP he didn't see Strickland's car.
Strickland wasn't wearing his seat belt at the time of the second collision and was taken to Stanford Hospital with major head trauma, according to the report. Librie suffered minor injuries.

The collision is under investigation and it wasn't known Friday whether drugs or alcohol were a factor, the report said. No arrests have been made.
The CHP is asking anyone who witnessed the crash to call 650-369-6261 ext. 350.

Auto accidents collisions or car wreck caused by animal's often lead to death of not only the animal but also the driver and other people in his or her car. A precautionary driving is always advisable and can prevent serious automobile accidents. If you or a loved one is involved in a car accident, please call the San accident Lawyer or Santa Clara Personal Injury Attorney at the Law Office of Geoffrey Nwosu. Their San Jose Injury Law Office can be reached at 408-912-5983 or http://www.nwosulaw.com/

San Jose: Car Accident resulted to death in Bay Area California

 Woman killed in Palo Alto car crash

As posted on 09/15/2011 by Jason Green, a reporter with Palo Alto Daily News, a 78-year-old woman was killed in a car crash Wednesday afternoon in Palo Alto, authorities said.

The woman was driving north on Foothill Expressway, one mile south of Arastradero Road, at about 2 p.m. when she left the roadway and struck a tree, police spokeswoman Sandra Brown said.
Firefighters at the scene determined the woman was suffering from a traumatic heart attack, according to Battalion Chief Chris Woodard. She was unresponsive with a weak pulse and died as crews worked to extricate her from the wreck.
The Palo Alto Police Department's Special Traffic Accident Reconstruction team is investigating the crash.
Police encouraged anyone with information about the collision to call 650-329-2413."

If you or a loved one is involved in a vehicle or automobile accident, please contact the Law Office of Geoffrey Nwosu for a free consntation and evaluation at 408-912-5983 or http://www.nwosulaw.com/ They have helped many San Jose California accident victims recover damages against the people who injured them. We represent accident victims.

Filing Bankruptcy is not just for low income people

San Jose, Bay Area California: More middle class families file for bankruptcy

As reported in USA Today, a new study by Elizabeth Warren, Harvard Law School Leo Gottlieb professor of law, and Deborah Thorne, Ohio University associate professor of sociology, finds that personal bankruptcy has become a largely middle-class phenomenon led by filers who are college-educated and owners of homes. According to the study, "The Vulnerable Middle Class: Bankruptcy and Class Status," the shift occurred even before the Great Recession. More than 100,000 middle-class families filed for personal bankruptcy every month in 2007, says the report, which was provided to USA TODAY but will be released in a book next year. Those who filed in 2007 were in worse financial shape than those who had filed in 2001. "The bankruptcy filings are a warning about the risks now facing middle-class Americans," says Warren, chair of the Congressional Oversight Panel on the Troubled Asset Relief Program (TARP). No longer can they count on a college education, a good job and home ownership to protect them from financial collapse. There are increase in the number of people with college degrees who file bankruptcy  The current situation of our economy have resulted to an increase in the number of middle income families filing bankruptcy. Most of these middle income families have college degrees.  The foreclosure and mortgage problems in San Jose, Gilroy, Oakland, Tracy and Antioch area helped to make the financial situation for most people worst. Some financial analyst claim that the problem is not yet over in the Bay Area. Bankruptcy attorney and lawyer, Geoffrey C. Nwosu have helped many middle class income families file bankruptcy in northern California. You can reach the Law Office of Geoffrey C. Nwosu at 408-912-5983 or www.nwosulaw.com

San Jose Bankruptcy Lawyer: Effect of filing Bankruptcy and your credit score

San Jose, Bay Area California: Many debtors worry about their credit scores when considering bankruptcy. Filing bankruptcy will affect your credit if you have good credit and you are current with your debt obligations. However, if you are late in your payments and considering filing bankruptcy, then your credit are probably not so great now.

Therefore, filing the right kind of bankruptcy with an experienced attorney and starting fresh may eventually help to clear up your debts. You can start to re establish your credit after bankruptcy with secured credit card from local banks and smaller department stores.  Some debtors start with purchasing a car and making payments on time. The interest rates may be high at the beginning but will eventually get lower if you maintain a good payment habit.

The Law Office of Geoffrey Nwosu in San Jose California will help you determine the right kind of bankruptcy to minimize your financial problems. They can be reached at 408-912-5983 or http://www.nwosulaw.com/