ABI Blog Exchange

Hurricanes Scandal Casts Cloud Over College Football

(This has been cross-posted from Law Blog.) Associated Press/El Nuevo Herald By Nathan Koppel With the college football season due to begin in about a week, all eyes now rest on the University of Miami. Some players on the Hurricanes football squad

Downgrade Was a Statement on Stewardship, Not Capacity

The downgrade was a judgment on the stewardship, and not on the capacity of our federal government. That does not mean, however, that the downgrade is without consequence.

Was Indiana Bankrupt?

A friend of mine here in Champaign, Roger Prillaman, told me he was strolling the Indianapolis Canal Walk and saw a historical marker about how the state of Indiana became bankrupt in 1839. The canal walk is a remnant of the Whitewater Canal, an

Conflicts on the New York Fed Board

The regional federal reserve banks are weird, hybrid creatures, both private bankers' banks and public governmental agents. This hybrid existence means that they have conflicts baked into their DNA--they are both supposed to serve and regulate their

Stern Consequences

The folks at the Weil bankruptcy blog do a great service in summarizing some of the initial consequences of the US Supreme Court's Stern v. Marshall decision. Suffice it to say, Mr. Chief Justice Robert's optomisim may have fallen. At the first

Controversial attorney Gleason apologizes to judge

"Hollywood attorney Kevin Gleason, who called a judge’s opinions 'half baked' and delivered a bottle of wine to the judge’s office, made a limited public apology in court Thursday for his actions." Read more here.

GM says bankruptcy excuses it from Impala repairs

"General Motors Co (GM.N) is seeking to dismiss a lawsuit over a suspension problem on more than 400,000 Chevrolet Impalas from the 2007 and 2008 model years, saying it should not be responsible for repairs because the flaw predated its...

The Stern Files

As evidenced by the triumph of Northern Pipeline Construction Co. v. Marathon Pipe Line Co., in the Weil Bankruptcy Blog’s sweet sixteen, the jurisdiction of the bankruptcy courts is foremost on the minds of many practitioners. So it should come as

How much house can you get for $1 million?

From media rooms to wine cellars, today's million-dollar homes give shoppers more bang for their buck.

Seniors and Massachusetts Personal Bankruptcy

A Boston bankruptcy lawyer will not ask you your age when offering advice for a Massachusetts bankruptcy. It's irrelevant. So long as you are of legal age and your income and assets qualify under the "new" 2005 bankruptcy law, we can file a

The Daily Docket: Barnes Bay Reworks Bankruptcy-Exit Plan

Barnes Bay Development Ltd. is reworking its plan to exit bankruptcy protection under the control of Starwood Capital Group after a group of wealthy investors who put down millions of dollars in deposits on luxury Caribbean vacation residences

Receivership Sales Are NOT Automatic: Lender Should Keep Other Options Open

With all the focus on receiverships and sales by receivers, we should not forget one important point: a lender should NOT focus all of its recovery or resolution strategy upon a receivership sale. Two stories reported by two CA papers show us that a

The Importance Of Respecting Bankruptcy Estate Assets

When a debtor files Chapter 7 bankruptcy, a bankruptcy estate is created. The bankruptcy estate is made up of all the debtor’s assets, even those assets which may be later declared exempt. The bankruptcy debtor is not allowed to liquidate any assets

Bankruptcy Court Can Order Liquidation Of Business Assets

In a recent Chapter 11 bankruptcy, the bankruptcy court ordered that a debtor reimburse qualified bidders for expenses incurred in connection with the sale of a substantial asset of the debtor’s estate. The bankruptcy court determined that such

Renewing Your Business After Bankruptcy

When a business files bankruptcy, it doesn’t need to be the end of entrepreneurship. The business owner can go on to either rebuild their business after bankruptcy or start a new one. Below are a few tips on renewing your business after bankruptcy

Park Forest Bankruptcy Attorney On The Automatic Stay & Meeting Of Creditors

Link Once the case is filed, the automatic stay goes into place, and anything the creditor wants relative to either the debtor or the debtor’s property is going to have to be done with bankruptcy court permission. The creditor will file what’s called

New Lenox Bankruptcy Lawyer Talks About Important Information Prior To Filing

Link Once the information is prepared and included in the bankruptcy petition, the petition and schedules are now ready for filing. One more condition precedent is needed before the debtor can file, and that’s that the debtor must complete a credit

Roy McFarland, Esq. Joins Avvo.com!

The McFarland Law Group is now listed on Avvo! Avvo is a service that rates doctors and lawyers through professional profiles containing information about their experience, background, disciplinary history, and reviews from patients and clients. Many

Secured Creditor First Manhattan Developments REIT Seeks Dismissal of 785 Partners LLC Bankruptcy Case

Where Did the Fed Get $1.2 Trillion for Secret Bailout

After all of the debate over raising the debt ceiling, news breaks from Bloomberg that the Fed gave banks, domestic and foreign, $1.2 Trillion in Secret Bailouts. Excuse me!?!? $1.2 Trillion lent without the public knowing. $1.2 Trillion- over 8% of