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

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Bankruptcy Glossary: “Adversary Proceeding”

In Colorado, an “adversary proceeding” is a lawsuit filed by a third party or the bankruptcy trustee to resolve a legal dispute relating to a debtor’s bankruptcy case. This term is used regardless of whether you choose to file chapter 7, 11, 12 or 13

Restore Some Bailout Flexibility to the Federal Reserve

Looking at the history of unsuccessful efforts to tame the economic cycle, one must ask whether Dodd-Frank will harm, rather than help the Fed's ability to react in the next crisis.

OO.com Owner: Borders ‘Sucker Punched’ With Suit

Mandel Ngan/AFP/Getty Images Next Jump Inc., the company Borders Group Inc. slapped with a lawsuit over a customer-loyalty program, said it was “sucker punched” by the failed bookseller. The Internet marketing firm said it went out of its way to

ANNUAL SUPREME COURT REVIEW

Federal Bar Association - Los Angeles Chapter September 28, 2011 Time: 12:00 p.m. - 1:30 p.m. Registration: 11:30 Featuring UCI Law School Dean Erwin Chemerinsky. Also Featuring Annual Judge Barry Russell Scholarship Awards. Location: The Biltmore

New Jersey Devils Close To Bankruptcy, According To Report

"The New Jersey Devils have found themselves in financial hot water, according to a report in the New York Post. They're in default on a loan and could be declared bankrupt. Via the Post: 'The attendance-challenged, heavily indebted team missed...

Before filing bankruptcy, get your money out of Wells Fargo

The Washovia banks here in the Northern Virginia area are now all Wells Fargo. If you are in financial trouble, that’s a danger. Here’s why. If you are planning on filing bankruptcy, get your money out of Wells Fargo. They freeze your account when

Bankruptcy Court Holds Foreign Mail Interception Order Not Enforceable in Chapter 15 as Against Public Policy

Chapter 15 of the Bankruptcy Code provides a comprehensive scheme for recognizing and giving effect to foreign insolvency proceedings. Section 1506, however, permits a court to refuse to recognize or enforce a foreign order that “would be manifestly

Bankruptcy And End Of Life Planning

Elderly Americans have been hit hard by the recession. Falling home values, depreciating retirement accounts and shrinking pensions have conspired to place many senior citizens in financial troubles which are often only relieved by bankruptcy. Many

The Claims Resolution Process in a Dodd-Frank Liquidation

On August 15, 2011, a Final Rule issued by the FDIC addressing several important aspects of the Orderly Liquidation Authority under the Dodd-Frank Act became effective. As discussed in a prior blog entry, the Final Rule addresses various issues, such

The Daily Docket: Union Moves to Force Saab Bankruptcy

Swedish labor union Unionen, representing about 1,000 unpaid employees at troubled Swedish car maker Saab Automobile AB, submitted an application for Saab Automobile’s bankruptcy Monday as its members still haven’t received their August wages. Read

Kirkland’s Labovitz Heads To Debevoise

M. Natasha Labovitz Bankruptcy attorney M. Natasha Labovitz is leaving Kirkland & Ellis LLP to join Debevoise & Plimpton LLP, strengthening the latter firm’s work in the debtor arena. Labovitz Monday will officially be added to Debevoise’s roster as

Objections to Changing Bankruptcy Forum Rules Meritless

As reported in the Wall Street Journal's Bankruptcy Blogs, the House Judiciary Committee heard from various judges, lawyers and academics on bankruptcy forum rules. Right now, a corporation can choose where to file a bankruptcy case based on its

Failure To Prove Fraud Ends In Dismissal Of Bankruptcy Complaint

In a recent Chapter 7 bankruptcy case, a creditor/plaintiff accused the debtor of obtaining financing under false pretenses, misrepresentation and fraud and asked the bankruptcy court to make the debt nondischargeable. The situation is one that

Housing Finance: Role of the Government Guarantee

I'm testifying before the Senate Banking Committee on Tuesday about the role of the government guarantee in housing finance (a/k/a wtf do we do with Fannie and Freddie). My testimony is here. I expect it will manage to piss off people left, right

First to File--Patent Thoughts

Congress just passed a bill overhauling the US patent system. The most significant change appears to be shift from a first-to-invent to a first-to-file system. Now, I am not a patent scholar and am wading into unfamiliar waters by opinining in any

4 ways to pay off your mortgage earlier

Dream of owning your house free and clear? Here's how.

Managing income in retirement

Bankrate helps you figure out how to manage your income in retirement.

Bank taps 'free checking' for $200 in fees

College student gets schooled in account management. Today's lesson: Don't over-debit.

Making the most of Social Security benefits

The way to get the best deal from Social Security requires careful computer analysis.

7 biggest financial risks of retirement

The market is just one thing that can wreak havoc on your retirement savings.