According to the Las Vegas Sun, former Oakland Athletics outfielder Jose Canseco has filed for Chapter 7 bankruptcy protection. Canseco was involved in a major steroid scandal in 2005 after publishing a tell-all book, which later became a bestseller.

His bankruptcy petition lists his assets at less than $21,000 and his liabilities at nearly $1.7 million. About $500,000 of his debt is owed to the IRS for back taxes. Canseco will liquidate assets under Chapter 7.

The 48 year-old, Cuban-American is currently ranked 34th for most all-time home runs. He was signed to the Canadian minor league team the Worchestor Tornadoes earlier this year.

If you are not sure if you qualify for Chapter 7 bankruptcy, consider taking the “means test.” For help with your Chapter 7 bankruptcy questions, contact Francisco G. Harrison, PLC by calling 337-261-8800.

Power company Dynegy Inc. has filed for Chapter 11 bankruptcy protection after years of struggling with falling electricity prices. Dynegy will merge with its subsidiary Dynegy Holdings, which filed for bankruptcy last November, as part of its reorganization plan.

According to the Wall Street Journal, the company surpassed $5 billion in debt last year. Dynegy’s shares have plummeted 91 percent in the past 12 months and, it lost $58 million in the first quarter.

Its reorganization plan also calls for the company to pay its creditors 59 to 89 cents on the dollar in cash or equity. Dynegy’s merger is aimed at keeping all its assets under one holding company and cutting out a layer of the corporate structure.

If you are looking for legal guidance during your bankruptcy process, contact the bankruptcy attorney Francisco G. Harrison, PLC at 337-261-8800.

New York-based law firm Dewey & LeBoeuf LLP announced this week that it has filed for Chapter 11 bankruptcy protection. The filing comes after the struggling firm expelled its chairman, lost most of its partners, and was slammed with lawsuits by creditors, according to the San Francisco Gate.

Dewey & LeBoeuf, one of the largest law firms in the United States, has listed $245 in liabilities and $193 million in assets. It will be closing all of its domestic offices and eight of its international locations.

The firm, which advised the Los Angeles Dodgers during its restructuring process, had more than 1300 attorneys in 2007. Only 150 employees remain in the United States as the company closes operations.

If your business is seeking bankruptcy protection but you are not sure if it’s eligible for Chapter 11 bankruptcy, contact the experienced bankruptcy lawyer Francisco G. Harrison, PLC, at 337-261-8800 today.