Bankruptcy News

We've summarized the latest docket activity and news for publicly traded companies currently operating under U.S. Bankruptcy Court protection.

Bankruptcy/Chapter 11 / Real Estate

Scrub Island Development Group Chapter 11 Petition Filed

Privately-held Scrub Island Development Group filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Middle District of Florida, case number 13-15285. The Company, which owns a luxury resort and related 230-acre Caribbean island, is represented by Charles A. Postler of Stichter, Riedel, Blain & Prosser. This Chapter 11 filing follows a lawsuit filed in the Caribbean Supreme Court by lender FirstBank Puerto Rico seeking the appointment of receiver. On November 1, 2013, the Carribean Court issued an order appointing a temporary receiver. In documents filed with the Court, the Company asserts, “It has also become apparent to the debtors that FirstBank’s secretive actions in obtaining the appointment of a receiver were done with the goal of wiping out all claims of creditors of the debtors, including claims of significant United States creditors of the debtors, as well as the substantial equity invested in [the Company] by its shareholders.” Scrub Island Development Group indicated total assets greater than $100 million on its Chapter 11 petition.

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Identify & Profit from Distressed Investing

Free Report: Turnaround Investing Mistakes

Turnaround Investing Blog

Turnaround Investing Blog

Lessons from the 1st Turnaround Letter of 32 Years ago

In July, 1986, exactly 32 years ago, George Putnam sent the first Turnaround Letter to subscribers. Technology back then seems like the Stone Age, with hard copy research and primitive CompuServe dial-up service. Wall Street ignored turnaround stocks back then and continues to ignore them today. While technology has changed immensely in 32 years, The Turnaround Letter’s philosophy of selecting out-of-favor companies on the verge of turning around hasn’t changed. Our timeless process helped driven The Turnaround Letter’s independently-verified market-beating returns. Read More.

Comparing Stocks Vs. Bonds

While the common stock of a turnaround candidate usually has the greatest upside potential, other classes of securities, such as bonds or preferred stock, may offer attractive profit possibilities with less risk. Many turnaround companies have only one class of securities available to investors but where there are different classes to choose from, it can pay to do a little extra analysis of the various options.

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Turnaround Letter Stock Pick Named Top Performer of 2017


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What Last Year's Top Stock Pickers Are Buying in 2018


This Forbes write-up follows up on the recent Top Stock Tips report--naming The Turnaround Letter's Crocs recommendation the top performer of 2017: With 90% gains, CROX beat out 100 other investment ideas included in the report; and the stock continues to have value investing appeal, according to Putnam.


George notes, "We see additional upside for the stock in 2018 as management's efforts continue to bear fruit, though the gains will likely be more muted than we saw in 2017."