Movie Gallery in Chapter 11, closing stores
Bankruptcy
The nation’s second largest video chain submitted a Chapter 11 petition to the bankruptcy court in Richmond yesterday. Movie Gallery, which also owns Hollywood Video, has headquarters in Oregon.
Movie Gallery owns 16 locations in the Richmond area, and seven stores are currently having closing sales, according to its website.
In the new filing the company reported between $10 million and $50 million in assets, and $500 million to $1 billion in liabilities.
This is the second time the company filed for bankruptcy. The last time was in 2007, also filed with the U.S. Bankruptcy Court in Richmond.
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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.