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

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AMR Record $4.1 Billion Bankruptcy Cash Mutes Takeover Risk

"AMR Corp.'s $4.1 billion in cash, the most ever for a U.S. carrier entering bankruptcy, may help the parent of American Airlines preserve its independence. Filing for Chapter 11 with that much in cash and short-term investments strengthened the

Wall Street Offered Virginia State Fair a Slick Deal

Aware of the virtually unlimited array of fried foods that a fairgoers can purchase on a stick, Virginia State Fair organizers shouldn’t have been surprised at the similarly impressive range of financial deals that Wall Street titans were willing to

Big Banks Finance Payday Lenders: You Knew that but did you Know some also Make payday loans?

This video is totally worth you 2 minutes. It describes big banks in rather unflattering terms (as parasites, for example) but the main thing I got out of it is that big banks finance payday lenders. Yes, it is true that the same banks that received

Occupiers Target Foreclosures

Occupy Wall Street have announced a national day of action around mortgage foreclosures and evictions, to be held on Tuesday December 6. My comments on the protest and the current state of the foreclosure crisis at salon.com are here.

Secured Lenders Beware! Your Security Interests on All Real Property Assets and Rents of a Hotel May Not Extend to Room Revenues

If a lender has a security interest in all of a hotel borrower’s real property and obtains an assignment of rents from such property, do the lender’s security interests encompass revenues derived from the use of the hotel’s rooms (i.e., “room

Delaware Court of Chancery Applies Entire Fairness Standard to Sale of Assets Just Before Bankruptcy Filing

Encite LLC v. Soni, C.A. No. 2476-VCG (Del. Ch. Nov. 28, 2011), read 80-page opinion here. Prior Delaware decisions in this matter have been highlighted on these pages here. Issues Addressed One of the issues addressed in this ruling on two motions

The Daily Docket: Lee Enterprises to Enter Bankruptcy

Newspaper publisher Lee Enterprises Inc. said Friday it’s preparing to file a prepackaged Chapter 11 bankruptcy within the next 10 days as it struggles to refinance its heavy debt load. Read the Daily Bankruptcy Review article here. The financially

Courts Take Action on Bankruptcy Preparers

A recent editorial by the Milwaukee-Wisconsin Journal Sentinel focused on how too many bankruptcy petition preparers are going well beyond what is allowed under the law and hurting poor petitioners in the process. Urban areas have no shortage of...

Year-end gifts to charity pay off at tax time

When you donate to your favorite charity, you might be able deduct your generosity on your taxes.d atm

Refinance owner-occupied, 2-unit dwelling?

Weighing whether to refinance your property? Answer these questions to make the right decision.

5 cheap-to-own sedans for family fun

"Sensible" is the key word to describe these cars -- perfect for the budget-minded family.

6 auto insurance potholes

Most auto policies leave room to deny a claim. What do you need to look out for?

5 smooth-riding SUVs for the urban road warrior

At the onset, SUVs were for off-roading. Today's families want the amenities these offer.

4 keys to scoring the best car deal this winter

As dealers prepare for the new year, follow this map to drive away with the best price on a car.

Will paying off mortgage raise 600 credit score?

Paying off your mortgage can definitely raise your credit score, but how did it get so low?

Bar tips for cheaper drinks & better service

What's the worst drink to order on a Friday? This and other tips will get you far at the bar.

5 double-duty pickups for work and play

Pickups can be used to haul bricks or take your family to a movie. Our choices excel at both.

Seller wants to stick buyer with repair bill

Right before closing, the furnace conks out. Who pays to fix it: the home seller or the buyer?

Consumers Beware of Gas Well Leases, Especially Around the Holidays

For those contracts professors who teach Peevyhouse v. Garland Coal & Mining Co., 382 P.2d 109 (Okla. 1962), there is a modern version this 1962 case going on right now in the gas drilling context. In the venerable Peevyhouse case, Willie and Lucille

Debtor Education Course: Are Joe and Sally to Blame?

The debtor education course. It’s the second course required by the Bankruptcy Code–the ticket out of bankruptcy, at least if the debtor wants his discharge. I confess I’ve always wondered what my clients thought of the course. Calling it a “course”