ILLINOIS SHOPPING MALL COULD BE FORECLOSED

Because the economy is down, many retailers are feeling the pressure just like everyone else.  As a result, malls across the county are experiencing 10-25% vacancies with many stores reducing their overhead.  Because of this, there are some malls that are facing foreclosure, including at least one in Illinois.  The Machesney Park Mall currently owes almost $2 million from the loan that was taken out to purchase the property eight years ago, including an additional $600,000 in real estate taxes.

http://www.westmontattorneys.com/Bankruptcy/

GABBY DOUGLAS' MOTHER FILED BANKRUPTCY

Over the past several weeks, American have become very familiar with Gabby Douglas, the young gymnast who become a national hero after winning the all-around gold medal for the United States.  Far from the glory of the Olympics also came news that Gabby's mother had filed Chapter 13 bankruptcy prior to the Olympics, and she was not embarrassed or ashamed to acknowledge that fact during the games.  Given Gabby's success during the games in London, I'm guessing the family's financial problems could be over, given that many experts have estimated Gabby's earnings over the next year to be between $6-20 million through mostly endorsements. 

http://www.westmontattorneys.com/Bankruptcy