Circuit City Bankruptcy Petition

Thanks to a Credit Slips contributor, the chapter 11 petition for Circuit City can be found here. The document includes the list of the fifty largest creditors. The case was filed in Richmond, Virginia, which is not known as a hub of corporate bankruptcy activity. I'll leave the comments open for readers who might have some insight on why this venue was chosen.

Comments

[AMC]

Circuit City is a Viginia corporation.

http://newsroom.circuitcity.com/secfiling.cfm?filingID=913737-95-29

[Howard Strong]

Not only is CC a VA corp., but it has been HQed in Richmond for many years where it have benefited from the home court advantage in past litigation.

[mark t]

I think there have been a number of big cases there and I have found the judges quite good in big 11s. Heilig Meyers is a similar case, also AMF Bowling; both filed there.

[CLane]

In addition to the HQ location, look at counsel (not the local or the Wilmington folks) and what cases they have previously worked on--you will find common names b/t CC and USAir--also filed in EDVa, but with hearings in Alexandria. Yes, the forum does drive the team, but the team's experience helps with comfort levels in "non-standard" fora.

[Brian Burton]

I am sory, but I came across this sie in regards to Ciruit City's petition. I was hurt badly in one of their stores on Nov 1 st, and hey are telling me now that I am on my own because the Judge approved the " first motions" which I read, but did not see a motion to "stay" any injury claims , but they claim that it did. They admitted liability, and now I am on the hook for 85,000 worth of surgery? Out of pocket.

If so there is somehing seriously wrong with this country. I am going to be out of work ( self employed) and lose my house because of his ? Any information in regards to this would appreciated.

How do I tell my family this ?

[Keith]

So please explain to me why the creditors committee's attorney is pushing so hard for CC to liquidate instead of reorganizaing when most of the proceeds will go to the secure creditors (banks) and not the unsecured creditors.

This is baffling at best. CC needs to survive, albeit leaner and smaller..liquidating does nothing for creditors or am I missing something

[Cheryl]

I purchased a flat screen television at one of Circuit Citys liquidation stores. I paid 600.00 then went to a pick up window. The guy at the window informed me there was only one left. However, the box was dented. I was assured it was just the box and the TV was fine. I bring the TV home and there is a hole busted in the casing of the TV. The store will not give me a replacement , refund or partial refund. My credit card company cant help me fight it because it says no refund or exchanges on the recipt. I can not believe they want me to pay for a broken TV. I did not go to a second hand store. I was supposed to get a brand new tv in mint condition. The manufacturer only replaces for manufacturer defects. I was told by the Attorney generals office to file a claim and get the case number with the bankruptcy court that (CC) filed with. But the question is how do I get this info and will I get my money back?