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

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New Year’s Resolution Undoings, on the House

By Joseph Checkler and Rachel Feintzeig Associated Press Ready to break your 2012 resolutions? Friendly’s and American Airlines can help. The two companies—one fresh out of bankruptcy and one just getting started—are letting you pick your poison this

The Broke and the Beautiful: Save the Twinkie! Edition

This week on The Broke and the Beautiful, Wendy Williams does her part to keep Twinkies alive, and boy-band mogul Lou Pearlman’s trustee must be feeling larger than life. Also this week, Jefferson, County, Ala., scores a run against J.P. Morgan Chase

S.E.C. Changes Settlement Approach

Following months of headlines covering criticism from Judge Jed S. Rakoff of the Southern District of New of its settlement with Citigroup, the Securities and Exchange Commission announced earlier this month that it was changing its practice of

Houston Astros Owner Mucked Up in JeffCo Bankruptcy

Associated Press Jim Crane Stuck at the unfortunate end of the debt-clogged sewer system of Jefferson County, Ala., you’ll find Houston Astros owner Jim Crane. Fresh into his takeover of the Texas baseball team, Crane has been ordered by a bankruptcy

Deciding to File Bankruptcy after Gaining Employment

A lengthy period of unemployment often contributes to growing debt obligations. After finally gaining employment you feel like you have the opportunity to get your finances back on track, or at least, work toward getting your finances in better order

My Apology: When Understandable is NOT Excusable

Technology is all about fewer people doing more. Part of the "doing more" is dealing with too much information; and then in crafting and implementing personal habits and self-control to deal with it. The chief culprit is e-mail. Many of us receive

Dodd-Frank Immune to Rollback in an Election Year

The Cordray appointment may make bank compliance issues a focus of this year's presidential campaign. Bankers should not think of this potential outcome as good news.

Bankruptcy-Related Expenses: Are They Deductible?

As everyone reading this knows, bankruptcies produce a variety of expenses. While not the most exciting of topics, bankruptcy practitioners may wish to be familiar with the tax treatment of such expenses – particularly whether and when such expenses

Got Tax Problems? Bankruptcy May Be Your Solution

When it comes to tax problems, most of us believe that the only way to get the IRS off our backs is to grit our teeth and pony up the penalties. However, while common wisdom may indicate that the only certainty in life is death and taxes, that isn’t

02-17-2012: Wharton Restructuring and Turnaround Conference

Marcia Goldstein will moderate the Legal Restructuring Panel at the 8th Annual Wharton Restructuring Conference February 17, 2012 The Union League of Philadelphia Chapter 7-Eleven: The Increasing Use of Asset Sales as a Means of Effectuating a

The Daily Docket: Kodak Can Borrow on Loan

A judge on Thursday said Eastman Kodak Co. could begin borrowing on a $950 million loan from Citigroup Inc., which the iconic photography company hopes will keep it afloat as it restructures itself during Chapter 11 bankruptcy. Read the Daily

Bank Risk Management Can Require Counterintuitive Thinking

Frivolously adding armor to combat planes makes the aircraft difficult to control and less effective. Weighting down banks with ill-conceived risk mitigation strategies and regulations serves the interests of neither individual banks nor the banking

My Apology: When Understandable is NOT Excusable

Technology is all about fewer people doing more. Part of the "doing more" is dealing with too much information; and then in crafting and implementing personal habits and self-control to deal with it. The chief culprit is e-mail. Many of us receive

Pre-retirees get double-whammy in downturn

Those within 10 years of reaching retirement age lost jobs and face long-term unemployment.

The middle class stumbles in Great Recession

The middle class is the backbone of the nation, but see how it fared after the downturn.

Teenagers may benefit from recent recession

If they're like Depression-era teens, they'll be just fine in the recovery. Find out why.

Motorists find mixed blessing in recession

Gas prices gave ground as demand dropped in the downturn, but that won't last in a recovery.

Homebuyers find a windfall of falling prices

The recession took a whack at housing prices, making it great market for homebuyers today.

Fed to dress up same ol' rate with new forecast

The economy might need "a little wiggle room to stimulate some more." Enter the Fed.

The wealthy: Spared in Great Recession?

It pays to be wealthy, at least it did in the recession. See how the rich fared in the downturn.