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Gas City, Ltd., the Frankfort-based operator of 55 gas stations, sought Chapter 11 protection from creditors late Tuesday and plans to put itself up for sale.
The bankruptcy filing, made in U.S. Bankruptcy Court for the Northern District of Illinois, listed estimated assets of between $50 million and $100 million and liabilities of between $100 million and $500 million. According to the court documents, Gas City has between 1,000 and 5,000 creditors. Get the full story »
Midwest Banc Holdings Inc. filed for Chapter 11 bankruptcy protection Tuesday, listing $9.7 million in assets and $144.7 million in debt in a filing in U.S. Bankruptcy Court in Chicago.
The parent of Chicago’s Corus Bank has moved to head off a grab by federal regulators at more than $257 million in tax refunds stemming from the bank’s collapse. Get the full story »
