Chicago pizza chain files Chapter 11 bankruptcy
Bankruptcy
The Chicago-based pizza chain Giordano's has filed for Chapter 11 bankruptcy, but will continue operating with court approval to use part of a $36 million bankruptcy loan to pay employees and vendors.
The chain, known for its stuffed pizza, owes nearly $46 million to Fifth Third Bank, its main lender, according to this week's bankruptcy filing.
The company runs stores in the Chicago area, four joint-venture locations and 35 franchised restaurants. The chain sells frozen pizzas for overnight delivery.
John and Eve Apostolou own the pizza chain. Attorney Michael Gesas, representing the debtors, says the pizza business is strong, but the company defaulted on real estate loans.
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Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.