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

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MF Global files for bankruptcy protection

"MF Global, a trader in commodities and derivatives brought down by bad bets on Europe, filed for bankruptcy protection on Monday, leaving behind more than $2 billion in debt to some of Wall Street's biggest players. The fate of MF...

Update: Judge Questions Citigroup $285 Million SEC Settlement

We posted previously that Citigroup had agreed to pay $285 million to settle claims brought by the Securities and Exchange Commission that it engaged in securities fraud. Last week, Judge Rakoff of the Southern District of New York, who is

Changing Online Bank Account Can Be a Problem

Sometimes you gotta feel like a lamb to the slaughter... Some banks recently started charging debit card use and other fees. (For more, see this post by Andy Miofsky, Illinois Bankruptcy Attorney, http://www.bankruptcylawnetwork.com/banks-want-higher

Survey of Corporate Governance Practices at Time of IPO Shows Much Latitude for IPO Issuers

Considering that there continues to be growing pressure on larger companies to update their corporate governance provisions in response to both government regulations and pressure from shareholders and advisory groups, we thought this would be a good

Survey of Corporate Governance Practices at Time of IPO Shows Much Latitude for IPO Issuers

Considering that there continues to be growing pressure on larger companies to update their corporate governance provisions in response to both government regulations and pressure from shareholders and advisory groups, we thought this would be a good

Best Interest and Best Efforts Tests

A Chapter 13 bankruptcy may seem like a bad idea, after all it’s a repayment plan and not a debt discharge program like a Chapter 7 bankruptcy. But there are many reasons to choose a Chapter 13 bankruptcy over a Chapter 7, the main reason being that

Debtor's Name On Parent's Wells Fargo Bank Account Is Bankruptcy Disaster

Two things you don’t want if you are filing Chapter 7 bankruptcy. One is a bank account at Wells Fargo, and the other is your name on a joint account with a family member who is not involved in your...

Haunted Houses, Headless Pregnant Women, and Immortal Evil Zombies: A Weil Bankruptcy Blog Spooktacular

“Hold on, man. We don’t go anywhere with ‘scary,’ ‘spooky,’ ‘haunted,’ or ‘forbidden’ in the title.” ~ Shaggy, in Scooby-Doo Many people think bankruptcy is a pretty scary thing. Troubled corporations rising from the ashes of chapter 11, “hell-or

Halloween Is Not Time To Be Scared Of Credit Scores

Credit scores are important to Massachusetts legal consumers. Why? They have an effect on your ability to get good interest rates on vehicle loans, personal loans and home mortgages. They can even have an effect on getting hired for a job. However

Mortgage Mods - Where Did The Money Go?

My mortgage modification clients often ask about the class actions or Attorney Generals actions against mortgage companies, lenders, and servicers, when the newspapers/ Internet proclaims " XYZ Bank settles with Massachusetts for $XXX Million". The

Mortgage Mods - Where Did The Money Go?

My mortgage modification clients often ask about the class actions or Attorney Generals actions against mortgage companies, lenders, and servicers, when the newspapers/ Internet proclaims " XYZ Bank settles with Massachusetts for $XXX Million". The

Mortgage Mods - Where Did The Money Go?

My mortgage modification clients often ask about the class actions or Attorney Generals actions against mortgage companies, lenders, and servicers, when the newspapers/ Internet proclaims " XYZ Bank settles with Massachusetts for $XXX Million". The

ISS Extends Comment Period on Draft Voting Policy Updates

ISS has requested that we update our previous blog post on their draft voting policy updates to inform market participants that they have extended the deadline for receiving comments to November 7th. ISS emphasizes that receiving comments from

ISS Extends Comment Period on Draft Voting Policy Updates

ISS has requested that we update our previous blog post on their draft voting policy updates to inform market participants that they have extended the deadline for receiving comments to November 7th. ISS emphasizes that receiving comments from

National Conference of Bankruptcy Judges--10/15/11--Mythbusters--Westbrook and Porter Share the Latest Empirical Research

Prof. Jay Westbrook and Prof. Katie Porter presented a delightful tour de force of empirical research titled Mythbusters. They compared ten statements of conventional wisdom to the results of empirical research. As Jay said, "There are all kinds of

What Debt Bankruptcy Doesn’t Erase

Bankruptcy is a tool that should be used by people who have experienced a financial crisis and need help to recover and start fresh. A bankruptcy can do several things to help you if you’re overextended and drowning in debt but there are certain

The Daily Docket: MF Global Enters Chapter 11

Brokerage firm MF Global filed for Chapter 11 protection Monday. The Wall Street Journal has details regarding a deal the company was negotiating Sunday to sell its assets to Interactive Brokers Group, said a person familiar with the matter. A Nevada

East Hazel Crest Bankruptcy Attorney Answers The Question: Is Debt Consolidation Better Than Bankruptcy?

Link The answer is unequivocally no. Credit consolidation is something that people should never, ever look to. Most of those credit consolidation companies, although they make a lot of promises, are nothing but scams. They’re going to take a lot of

ISS Extends Comment Period on Draft Voting Policy Updates

ISS has requested that we update our previous blog post on their draft voting policy updates to inform market participants that they have extended the deadline for receiving comments to November 7th. ISS emphasizes that receiving comments from

ISS Extends Comment Period on Draft Voting Policy Updates

ISS has requested that we update our previous blog post on their draft voting policy updates to inform market participants that they have extended the deadline for receiving comments to November 7th. ISS emphasizes that receiving comments from