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

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Kodak Debt Swaps Soar as Camera Maker Said to Weigh Bankruptcy

"The cost to protect Eastman Kodak Co. (EK)’s debt from default jumped as the unprofitable 131-year-old camera maker is said to be weighing options including a bankruptcy filing. Credit-default swaps linked to the Rochester, New York-based company

Discharging Condo and Co-op Fees in Bankruptcy

Written by Craig D. Robins, Esq. Filing for bankruptcy enables consumers to discharge most debts. However, when the bankruptcy laws were radically changed six years ago through BAPCPA, various homeowners associations lobbied Congress for special

What Part Of ‘Worthless’ Don’t Blockbuster Investors Understand?

By Katy Stech and Joseph Checkler “Please don’t buy our stock” isn’t a common request from most companies, but that’s essentially what Blockbuster Inc.’s parent company is being forced to tell investors after a weird surge in the video rental company

Second Home Shocker: Fabulous Phoenix Paradise Valley REO With D Box Movie Chairs, 21-Car Garage, and Owner Went to West Point

Paradise Valley is like the Highland Park — no wait, make that Vaquero — of Phoenix. Paradise Valley is in Maricopa County, home to twelve resorts, and one of Arizona’s top tourist destinations. Very pricey dirt: the median home price is about $2.74

The Broke and the Beautiful: ‘L.A. Law’ Edition

This week on The Broke and the Beautiful, a company formerly headed by “L.A. Law” actor Corbin Bernsen took its drama to bankruptcy court, and the Los Angeles Dodgers were sued by Fox Sports over broadcasting rights. Also, MLB threatened to toss the

FTC Halts Fraudulent Mortgage, Debt Relief Scammer

The Federal Trade Commission filed a complaint with U.S. District Court alleging that Christopher Mallett has engaged in deceptive practices online, targeting debt-ridden consumers. The complaint outlines Mallett’s alleged misdeeds, which include

Is It Time To Declare Chapter 11 Bankruptcy?

As a high-income earner, you might be reluctant to declare Chapter 11 bankruptcy; after all, it might seem reasonable to suppose that you’ll make enough money to pay off your debts. But that belief can often belie the fact that no matter how much

Section 363(j)

This month, our “Breaking the Code” random-topic-generating wheel of fortune (or terror, as the case may be) has landed on section 363(j) of the Bankruptcy Code. This section reminds us that the reluctant cast of characters in any bankruptcy case may

The Daily Docket: Friendly’s Restaurants Preparing Bankruptcy Filing

The Friendly’s restaurant chain is preparing for a possible Chapter 11 bankruptcy filing and potential sale, The Wall Street Journal reports. Lehman Brothers Holdings Inc. struck a deal with Bank of America Corp. and Merrill Lynch to reduce by more

Bennding Bankruptcy Exemptions (Part II)

In the previous installment, we discussed the 8th Circuit’s Benn decision which began a sea change in Missouri bankruptcy exemptions. To see how Benn‘s unusual opinion created uncertainty in Missouri bankruptcies, one need look no further than our

Abracadabra, free checking disappears!

Under the weight of new rules, banks are dropping free checking. Find out how to keep it.

Want free samples and coupons? Join the party

Want to host a product sampling party? Find out what's in it for you and your friends.

Can you be forced to return a new car?

If the car loan was conditional and the lender reneges, you may have to return your car.

Plan retirement in your 40s

Use every tool at your disposal, including a Roth IRA, so you can retire in style.

Do home sale incentives work?

One thing beats a gimmick when selling a home: setting the right asking price.

Test oil before buying used car

Don't just look at a used car's spit and polish. Test the oil to peer into the engine.

Refinance home to pay for college?

If you choose a cash-out refinance over student loans, you still get a tidy tax deduction.

Bank Debacles Drive Europe to Raise the Bar on Audits

The most dramatic reforms proposed by the European Commission could require audit-only firms, auditor rotation every nine years, and dual audits, as well as enhanced auditor reporting to shareholders.

Why B of A Needs $5

Is Bank of America charging for debit cards because it is shortsighted or because it is too bloated to compete against smaller institutions for consumer accounts?

Is Fat Good in Finance? Looking at the Vickers Report

The "bigger is better" view was supported by the notion that economies of scale would allow for a multitude of virtuous outcomes. If only this were true.