Discount retailer Loehmann's files for bankruptcy
Bankruptcy
Discount retailer Loehmann's is filing for bankruptcy after its Dubai government-linked owner failed to reach a debt-extension deal with creditors.
Loehmann's says the Chapter 11 filing Monday in the U.S. Bankruptcy Court for the Southern District of New York is "pre-negotiated," meaning it could play out faster than a traditional bankruptcy filing.
Dubai's Istithmar World investment unit bought New York-based Loehmann's for $300 million in 2006. The 89-year-old retailer sells designer brands at discount prices in 15 states and the District of Columbia.
Istithmar is a subsidiary of troubled state conglomerate Dubai World.
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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.