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

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TOUSA’s Transeastern Lenders File Petition for Rehearing En Banc in Eleventh Circuit

Last month, we wrote about the TOUSA decision from the United States Court of Appeals for the Eleventh Circuit . The Eleventh Circuit decision affirmed the holding of the Bankruptcy Court for the Southern District of Florida that liens granted by

Can I Collect Unemployment if I Quit Due to Stress or Health Reasons?

Unemployment benefits often require a worker to lose their job not at the fault of their own. Quitting your job may be another situation entirely. Often, quitting employment may not make you eligible but under certain circumstances you may be

What to Do if Your Mortgage is Underwater

An underwater mortgage means that your home is worth less than what you owe on it. This is also sometimes referred to as being upside down on a loan. Unfortunately, the housing market today is still doing pretty poorly across America and more and

The Daily Docket: Judge Dismisses BofA Suit Over Ocala Collapse

A federal judge dismissed Bank of America Corp.’s lawsuit against units of Deutsche Bank AG and BNP Paribas SA, a win for the two foreign banks in their $1.75 billion dispute over losses suffered when a subsidiary of disgraced mortgage lender Taylor

SIGTARP Scrutiny Goes Beyond Tarp Matters

The agency's activities have made clear that it believes only one criterion need be met for it to claim jurisdiction: application for Tarp funds.

Madoff trustee files many new lawsuits

Per Reuters: 6/6/2012 June 6 (Reuters) - The trustee seeking money for Bernard Madoff's victims on Wednesday filed many new lawsuits to recover several hundred millions of dollars derived from investments by "feeder" funds in the imprisoned swindler

My Girlfriend Is Thinking of Leaving Me

Written by Craig D. Robins, Esq. “My girlfriend is thinking of leaving me.” This is a comment I hear repeatedly, in one form or another, quite regularly in my bankruptcy practice, when I counsel singles in serious relationships who suffer from debt

NY Times Column Criticizing Madoff Trustee Flawed on Many Levels

Posted by Kathy Bazoian Phelps A recent New York Times article by Andrew Ross Sorkin severely and unfairly criticizes Irving Picard, the trustee for the Bernard L. Madoff Ponzi scheme. It states, “Mr. Picard has had much more success collecting money

French Poultry Group Doux Goes Into Administration

Per http://globalinsolvency.com: Mon., June 4, 2012 Debt-burdened French poultry group Doux collapsed into administration on Friday after failing to reach an agreement with bankers, putting at risk more than 3,000 jobs, Reuters reported. "A judicial

PBG, Builder of Polish Soccer Arenas, Seeks Bankruptcy

Per http://globalinsolvency.com: Tue., June 5, 2012 PBG SA (PBG), Poland’s third-largest builder, decided to file for bankruptcy to help reach an agreement with creditors to cut debt by as much as 31 percent, Bloomberg Businessweek reported. PBG

RPT/Kuwait's Global To Get Bond Repayment Delay Approval

Per http://globalinsolvency.com: Wed., June 6, 2012 Kuwait's Global Investment House is expected to receive approval on Thursday to delay the repayment of bonds worth 95 million dinars ($338.6 million) to November from June, two sources familiar with

Will Basel III Dull or Sharpen Economic Cycles?

If ratified by the Fed, the new liquidity ratios could constrain lending, at the worst possible time. A proposed capital buffer is theoretically countercyclical, but needs more work.

Will the U.S. Supreme Court Decide the Net Equity Issue?

One of the highest stake issues in the controversial Madoff liquidation proceedings is whether customer claims should be determined based on account statements upon which customers relied or on the cash-in-cash-out (CICO) method of calculating "net

Lifestyle Changes After Filing Bankruptcy

I have been working with people who have filed bankruptcy (Chapter 13) for about three years now. I never really understood the stress and hardship that bankruptcy can put on a family. It has made me more aware of how to deal with my own finances and

Today in Bankruptcy – 6-6-2012

Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for June 6, 2012. Judge Rules for Barclays in Lehman Dispute Jamal Lewis’ Bankruptcy Hearing Postponed Former Real Housewife Staub Files for

A Closer Look at Top-Dollar Attorneys’ Fees

Paul J. Richards/AFP/Getty Images More attorneys than ever are charging $1,000 an hour or more as the U.S. government’s bankruptcy watchdogs are questioning the “extraordinarily large fees” of the nation’s top-flight restructuring lawyers. The ranks

Jumping on the Bankruptcy Bandwagon, Jersey Style

Associated Press In this Aug. 2, 2010 file photo, “Real Housewives of New Jersey” star Danielle Staub arrives for the “Casio Shock the World 2010″ event at the Manhattan Center. Despite their expletive-laden, table-throwing fights, two of America’s

Judge Rakoff to determine whether the Securities Investor Protection Act bars disallowance of customer claims in the Madoff liquidation

United States District Judge Rakoff has withdrawn the reference with respect to certain adversary proceedings pending before Bankruptcy Judge Lifland for the limited purpose of determining whether the Securities Investor Protection Act (SIPA) bars

L&L In D.C.

Tomorrow two Slips members -- Adam and I -- journey to the House of Representatives. Ok, for Adam this is a journey to the crosswalk, but nonetheless ... We are both testifying at hearing in front of the Financial Services Committee, subtly titled

Insolvency Journal publishes information concerning insolvency proceedings in Ireland

A helpful resource for stakeholders of Irish companies and their advisors, available on the World-wide web at http://www.insolvencyjournal.ie/index.aspx.