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

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Capital One Caught With Its Hands In Your Wallet

Capital One violated the bankruptcy discharge thousands of times and got caught, as was recently reported by the Wall Street Journal. It filed claims in second bankruptcy cases based upon debts which were already discharged in earlier cases. As my

Steve Jakubowski’s Interview with NPR’s Planet Money on “Going out of Business” Sales.

Recently, Steve Jakubowski, bankruptcy attorney and avid blogger with a following in the multiple thousands, was invterviewed by NPR’s Planet Money regarding “Going out of Business” Sales. “This 6 minute piece is a whirlwind glimpse into these sales

Temporary Payroll Tax Cut Continuation Act of 2011

On December 23, 2011, President Obama signed into law HR 3765, the Temporary Payroll Tax Cut Continuation Act of 2011, extending the current 4.2% Social Security Old-Age, Survivors, and Disability Insurance (OASDI) tax rate for employees to wages

Three New Bankruptcy Judges

Three California federal bankruptcy judges set to retire are being replaced by an attorney from Pillsbury Winthrop Shaw Pittman LLP, a partner from Friedman Dumas & Springwater LLP, and a solo practitioner. The announcement was made by the chief

Chapter 12 Farm Bankruptcy Case is Before the Supreme Court

Chapter 12 farm bankruptcy helps family farmers to keep their farms. It allows family farmers to reorganize their finances and operations. Chapter 12 was originally enacted by Congress in 1986, and was made permanent in 2005. It helps the farmer and

How the MF Global Bankruptcy Is Affecting Charities

Since MF Global filed for bankruptcy protection at the end of October, much of the media attention has been focused on the scandal of the $1.2 billion in investor money that the firm cannot account for. That money, which reportedly belongs to about

Whence Corporate Bankruptcy

A correspondent and I were discussing the changes wrought by the 1978 enactment of the current U.S. Bankruptcy Code. My correspondent noted that corporate bankruptcy became more salient after 1978 and linked this phenomenon to the 1978 law. My

PCAOB Reproposes Standards for Auditor Communications with Audit Committees

After receiving comments and hosting a roundtable, the PCAOB has reproposed for comment an auditing standard on Communications with Audit Committees by making modifications to its original proposal from March 29, 2010. Both proposals update existing

PCAOB Reproposes Standards for Auditor Communications with Audit Committees

After receiving comments and hosting a roundtable, the PCAOB has reproposed for comment an auditing standard on Communications with Audit Committees by making modifications to its original proposal from March 29, 2010. Both proposals update existing

Your Favorite Business Bankruptcy/Restructuring Lingo?

One more quick poll: off the top of your head, what lingo/cryptic terms do business bankruptcy professionals use regularly that are important to understanding the operation of the system in the real world (e.g., DIPs, cramdown, roll-ups, carve-out

PCAOB Reproposes Standards for Auditor Communications with Audit Committees

After receiving comments and hosting a roundtable, the PCAOB has reproposed for comment an auditing standard on Communications with Audit Committees by making modifications to its original proposal from March 29, 2010. Both proposals update existing

PCAOB Reproposes Standards for Auditor Communications with Audit Committees

After receiving comments and hosting a roundtable, the PCAOB has reproposed for comment an auditing standard on Communications with Audit Committees by making modifications to its original proposal from March 29, 2010. Both proposals update existing


"Going Out of Business" Sales: An Interview with NPR's Planet Money

Planet Money's Zoe Chace today aired an excellent story on retail "going out of business" sales. This 6 minute piece is a whirlwind glimpse into these sales from the perspective of the liquidator, the retailer and its staff, the consumer, and the


Contact Me

Here's a link to my home page on the Levenfeld Pearlstein website, and here's my contact info: Steven R. Jakubowski Levenfeld Pearlstein, LLC 2 North LaSalle Street Suite 1300 Chicago, Illinois 60602 Tell: 312.476.7585 Fax: 312.476.7626 Email

More Rot in the OCC Foreclosure Reviews

Michael Olenick, Gretchen Morgenson, and Yves Smith have all written pretty damning things about the foreclosure reviews persuant to the OCC consent orders with major mortgage servicers. (For my own previous thoughts, see here and here.) I've just

Bankers Need Apple-Inspired, Useable Technology

If you've already asked yourself why your vendors don't provide a better interface or why you need a Java programmer to make a simple change, 2012 is the year to make your voice heard.

6 ways to throw a great party for less

Ring in the New Year on the cheap with these party tips from the pros.

Your Legal Rights Radio Program

Leon Bayer, (aka The Bankruptcy Blogger, http://www.bankruptcyblogger.org/) is a Certified Bankruptcy Specialist by the State Bar of California and will be interviewed live on Public Radio station KALW, San Francisco, Wednesday, January 4, 2012 from

A Brief Overview of Nondischargable Chapter 7 Bankruptcy Debts

This article considers some of the debts that cannot be discharged by filing for Chapter 7 bankruptcy protection. It also provides a brief explanation why you may not discharge these debts during the Chapter 7 bankruptcy process. Many St. Louis

Blog of the Day: What Mike Tyson Teaches Us About Risk Management

Like the boxer was in his prime, financial crises are discombobulatingly devastating.