• Illinois Bankruptcy Court Facing Eviction from Will County Courts

    The Northern District of Illinois Bankruptcy Court is looking at possible eviction from their courtrooms in Joliet. Will County has seen an increase in court cases because of population growth, and now needs more space.

    An extension on an existing lease is due to expire soon, and Will County Judge Gerald Kinney said he needs the courtroom to accommodate his own crowded court system.

    Kenneth Gardner, clerk of the bankruptcy court, said that the courtroom has been in its current location since the 1990s, before Will County bought the building. He said 7,548 cases were filed there in 2010, originating in Grundy, Kendall, LaSalle, and Will counties. It was the court’s busiest year since 2005.

    Kinney told county board members the bankruptcy court cases could wind up in Chicago, but Gardner said it would seek a new courtroom in the area to keep them local. “Our intent, for sure, is to stay there,” Gardner said.

    Kinney said Will County’s main courthouse is crowded and fails to meet security standards set by the Illinois Supreme Court. The county is expecting to receive five new judges in 2012 because of its population growth.

    Kinney said he’d work with the bankruptcy court to give them time to find a new location.

    If you are considering filing for bankruptcy and have questions about the process, contact a Chicago bankruptcy attorney for more information.

  • Vacant Lots Owned by Gas City to be Auctioned by Bankruptcy Court

    Gas City, LTD is putting five vacant properties up for auction in June 2011. The company filed for Chapter 11 bankruptcy protection in October of 2010.

    The properties going for auction range in size from three acres to more than 46 acres. They are located in Will County, Ill and Montgomery County, Ind.

    Bids are due Wednesday, June 22, and the auction is scheduled for 10:00 a.m. on Friday, June 24.

    The auction is part of the ongoing breakup of Gas City. The company cited more than 1,000 creditors and estimated liabilities of more than $100 million in its bankruptcy filing. Published reports say that the debt totals $365 million.

    The company’s 50 retail sites were auctioned to the highest qualified bidders in April of 2011 for a total of approximately $135 million. According to bankruptcy court records, some of the purchasers are Speedway, TravelCenters of America, 7-Eleven, Inc., and Valero Retail Holdings, Inc.

    Before filing for bankruptcy protection, Gas City was a family-owned and -operated petroleum marketer and convenience store chain with 50 locations located around the United States. Gas City was founded in 1966 with one convenience store by current president William J. McEnery.

    If you are considering filing for bankruptcy and would like to learn more about the process, contact a Chicago bankruptcy attorney for more information.