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Insolvency Service “reframes” view of creditor – IPs can apply their discretion (UK)

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If My Employer Relocates am I Eligible for Unemployment?

Unemployment benefits are available for qualifying workers who were at no fault in losing their job. If you quit voluntarily you may not qualify under certain circumstances. If your employer decides to relocate and the circumstances force you to

Court Holds that Bar Dates Should Be of Interest to “Interest Holders”

Bar date litigation is no late-comer to the bankruptcy scene. For years, holders of ostensibly late-filed claims have fought to have the bankruptcy court overlook their lateness for one reason or another. Though the underlying facts differ, the moral

No Wonder Eminent Domain Mortgage Seizures Scare Wall Street

The real losers would be the biggest banks, the holders of second liens, not investors in first mortgages. Those investors might come out ahead, and homeowners and municipalities certainly would.

Getting Your Chapter 13 Discharged

When you filed your Chapter 13 bankruptcy five years ago, the goal was to complete the plan and get a discharge. The “discharge” is the legal determination that all of your unsecured debts that remain after the plan are gone. The collection company

California Tribe's Casino Files for Bankruptcy

Per the Wall Street Journal: By KATY STECH Southern California's Santa Ysabel Resort and Casino filed for bankruptcy protection as it faces threats of foreclosure from the Yavapai Apache Nation, which had lent the casino's owners more than $9 million

Ritz Camera Files for Bankruptcy in Delaware ... Again

On June 22, 2012, Ritz Camera & Image, LLC, and various related entities (collectively, the "Debtors" or "Ritz II"), filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware. Those familiar with

Rise In Wealthy French Eyeing London Move

Per www.globalinsolvency.com: Tue., July 10, 2012 The number of wealthy French people planning a move to London has climbed following François Hollande’s victory in the country’s presidential elections, according to London-based property agents

RBS, Other Banks Quit Talks On Dubai Group Debt Restructuring

Per www.globalinsolvency.com: Tue., July 10, 2012 Royal Bank of Scotland and two other banks have abandoned talks on restructuring Dubai Group’s $10bn debt and threatened to bring unprecedented legal action against the investment vehicle of Dubai’s

Merkin’s Madoff Funds To Pay Investors $500 Million

Per www.bloomberg.com: By Linda Sandler and Chris Dolmetsch - Jul 10, 2012 8:06 PM ET Q J. Ezra Merkin’s Ariel and Gabriel funds, so-called feeder funds for Bernard Madoff’s Ponzi scheme, will pay investors $110 million, bringing total recoveries to

Consumer Financial Protection Bureau Proposes New Mortgage Rules

Yesterday the Consumer Financial Protection Bureau announced proposed rules to simplify the process for residential mortgage applications. According to the Bureau’s Detailed Summary of the Proposal, the rules focus on the disclosure forms provided to

Today in Bankruptcy – 7-10-2012

Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for July 10, 2012. Dynegy Enters Bankruptcy: The Warning Signs Barclays Lie-More Scandal: Moral Bankruptcy ConocoPhillips Steps Into the GPMI

What You Need To Know About Title To The House

It was community property that garnered me my first hug from Doug Jacobs. Or rather, it was the absence of community property that did it. You see, Doug had described his dilemma with his case involving an elderly couple who had a home with lots of

Your Chapter 13 Payment - Can You Make It?

When considering bankruptcy as a solution for your unmanageable expenses, it is important that you realize bankruptcy, Chapter 13 is supposed to alleviate the financial strain you are currently in. You should leave your attorney’s office in a better

Patriot Coal Files for Bankruptcy Protection

Per the American Bankruptcy Institute's Daily Headlines: July 10, 2012 Patriot Coal Corp. filed for chapter 11 protection along with nearly 100 affiliates filed for chapter 11 protection yesterday, Reuters reported. Patriot said that it had $3.57

The Top 5 Cities In The U.S. With The Best Credit Scores

The Midwestern part of our country is known for hospitality and hard workers. Now, the people of the Midwest are known for its good credit scores too. Experian, the credit reporting agency, has analyzed the credit and debt habits of Americans and

Ex-Advanta CEO’s Estate on the Block for $30M

Long & Foster Looking for a fortress-style modern mansion on Philly’s Main Line? Former Advanta Corp. CEO Dennis Alter’s 70-acre estate, which sports a 20,000 square-foot “playhouse,” is still on the block for $30 million, the Philadelphia Inquirer

TaxMasters Founder Clashes With Bankruptcy Liquidators

Perhaps no one deserved a family vacation last week more than TaxMasters Inc. founder Patrick Cox, whose signature ginger beard has no doubt sprouted gray hairs since his disgraced nationwide tax-relief firm collapsed into bankruptcy in March. But

Another Look at “Absolute” Assignments of Rent Under New York Law

For debtors, especially those in single asset real estate cases, rents from real property can be an essential lifeline. Lenders, too, know the importance of these rents and, very often, will obtain an “absolute” assignment as part of their agreements

Do I Include Assets that Belong to My Spouse When Filing Bankruptcy?

When entering a marriage, an individual may assume their personal property and assets brought into the relationship will continue to be their own but this may not always be the case. While debtors have the option to file bankruptcy jointly with their

May – June Corporate Governance Regulatory Update

Danielle Kersis co-authored this post. I. SECURITIES EXCHANGE COMMISSION RULES AND NEWS a. Shareholder-Director Communications TheCorporateCounsel.net recently posed a new handbook regarding the disclosure obligations under Item 407(f) of Regulation