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

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Judge Rules for Vitro Bondholders in Bankruptcy Case

Kudos to Bankruptcy Judge Hale for his refusal to "rubber stamp" a restructuring plan that would allow shareholders to retain about half a billion dollars in value without Vitro first paying its creditors who enjoy a higher priority.Judge Hale's

Dewey & LeBoeuf: The Trouble with Tribbles

The docket in Dewey & LeBoeuf's Chapter 11 proceedings is starting to look like the classic Star Trek episode, The Trouble with Tribbles. Tribbles are little furry animals that purr a sound so relaxing that even Vulcans find it soothing. As wikipedia

Dewey & LeBoeuf: The Trouble with Tribbles

The docket in Dewey & LeBoeuf's Chapter 11 proceedings is starting to look like the classic Star Trek episode, The Trouble with Tribbles.Tribbles are little furry animals that purr a sound so relaxing that even Vulcans find it soothing. As wikipedia

Sir Allen Stanford Sentenced to 110 Years in Prison

Per a June 14, 2012 contribution to www.forbes.com by Walter Pavlo: Dressed in green prison fatigues, R. Allen Stanford entered a federal courthouse in Houston today to hear U.S. District Judge David Hitner pronounce his prison sentence. The decision

Arcapita: The Lusail Agreements

During the last hearing in Arcapita's Chapter 11 proceedings, the company committed to providing notice concerning the Lusail venture as key documents concerning it have been redacted or filed under seal, which created a transparency problem for

According to the “Fair Debt Collection Practices Act” rules, are debt collectors allowed to call my friends, co-workers or family to collect on my debts?

Most debtors do not like to spread around the fact that they owe any money. Your debt is a matter which is between you and the person to whom you owe money. One of the common debt collection tactics is threatening to tell others about your debt

Today in Bankruptcy – 6-15-2012

Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for June 15, 2012. Bankruptcy Court to Weigh Examiner for ResCap Solyndra Close to Filing Bankruptcy Plan American Airlines Is Thriving Despite

Who Really Wins When Government Controls Prices?

Home Depot told shareholders that interchange price controls would add "$35 million a year" to the company's bottom line. Why should consumers now believe the company has chosen not to keep these newfound gains for itself?

Should we just put an * by our Foreclosure Era?

Baseball had the “ Steroid Era,” and the law has its “Foreclosure Era.” The two phenomenons are so similar, but the latter has shaken our confidence in our system of justice. Major League Baseball, Congress and the media found the ultimate solution

The Broke and the Beautiful: Irish Boy Band Edition

This week on The Broke and the Beautiful, Westlife singer Shane Filan is crooning the bankruptcy blues, and Stephen Baldwin lost a lawsuit against fellow actor Kevin Costner. Also, Curt Schilling was sued personally for $2.4 million over a loan from

You Can Discharge Social Security Overpayments in Bankruptcy

Written by Craig D. Robins, Esq. There are many types of debts that can be discharged in a Chapter 7 bankruptcy filing. Most consumers seek to discharge credit cards debts, medical bills, loans, etc. Some consumers have the Social Security

Bankruptcy and Wage Garnishment

Wage garnishment is an action pursued by creditors to help satisfy outstanding debt. The action allows them to take paycheck earnings and have them automatically forwarded to creditors. Bankruptcy may stop the garnishing process and even collect

Dewey: Pensions, Patton Boggs and a Six-Week Pax Romana

By Jennifer Smith Reuters As the defunct law firm Dewey & LeBoeuf LLP makes its way through Chapter 11, it seems it’s all over but the shouting. Sure, that shouting is expected to go on for some time. There will be haggling over how much money ex

GM and Chrysler, Yet Again

A quick note about yesterday's editorial from Sherk and Zywicki. I'm loath to wade in yet again on this issue, as I doubt there would be any interest in these old bankruptcy cases if there were not an election looming. But the Sherk and Zywicki

Should Banks Disclose the Fees They Don't Charge?

If a bank doesn't disclose what it's not charging, someone might assume it is charging that fee without disclosing. Pew Charitable Trusts made that assumption, and says consumers could too.

Why No Rush To Use Tech Tools At Work? Because what “works” doesn’t change the “work”

So long as the software and tech tools on our desktops merely improve the “process” of our work (our work flow), those tools will continue to pile up our desktops – IT is proud but the desktop remains under utilized by the people that matter. But

How Should Massachusetts Consumers Look at Curt Schilling's Bankruptcy?

Curt Schilling, former ace pitcher for the Boston Red Sox, filed a Chapter 7 bankruptcy for his company, 38 Studios. Ok, let's get some basics down first. A corporate chapter 7 bankruptcy is not the same as a personal chapter 7 bankruptcy. In a

The Daily Docket: MF Global Trustee Strikes Deal With CME

The trustee unwinding the brokerage of MF Global Holdings Ltd. struck a deal with CME Group Inc. that will see the futures-exchange operator turn over about $130 million in property that will go to former customers of the collapsed firm. Read the

Secured Creditor Denied Double Recovery – Bankruptcy Court Approves Postpetition Interest but Rejects Late-Payment Premium

On April 9, 2012, the United States Bankruptcy Court for the Southern District of New York ruled that, in a case where the loan had matured and was in payment default well before commencement of the bankruptcy, an over-secured creditor’s claim would

Understanding the Purpose of Bankruptcy

Bankruptcy is a legal process that can help improve your financial situation but some may not exactly understand what bankruptcy is. Many assume it will wipe away debts but certain qualifications should be met depending on your situation. The