ABI Blog Exchange

Borders Forced To Liquidate In Bankruptcy

After failing to secure a buyer in Chapter 11 bankruptcy, Borders is headed to liquidation closing down 400 bookstores around the nation and putting 11,000 people out of work. Borders was unable to overcome competition from larger rival Barnes &

Convicted Of Bankruptcy Fraud Debtor Flees Across 14 Countries

A debtor who was convicted of bankruptcy fraud in 2004 has been finally apprehended by authorities in Mexico and put in jail. Farris, 49, the former owner of Farris Gallery in St. Louis, was sentenced Friday to 14 months in prison for failure to

Lawmaker Asks President To Declare A State Of Emergency To Stop Foreclosures

Rep. Marcy Kaptur has submitted a resolution to the House Financial Services Committee asking President Barack Obama to declare a national state of emergency for the foreclosure crisis. The resolution sites a variety of issues troubling the housing

In the Fourth Circuit, Terminated Employees Are Entitled to Priority Claim for Severance. Why? Because They Earned It (When They Were Fired)

In In re LandAmerica Fin. Group, Inc., the Fourth Circuit Court of Appeals recently held that, for purposes of determining the amount of severance compensation entitled to priority treatment pursuant to section 507(a)(4)(A) of the Bankruptcy Code

Fed to Wells: $7000 for Wrongful Foreclosure

Yesterday the Fed announced a settlement with Wells Fargo of claims that its subprime unit had 1) deliberately steered prime borrowers into higher-cost subprime mortgage refinancings and 2) falsified income documents to put subprime borrowers into

The Daily Docket: No Decision on Dodgers Loan

A bankruptcy judge declined to rule Wednesday evening on the contentious battle between the Los Angeles Dodgers and Major League Baseball over who will fund the team’s Chapter 11 case. Read the Daily Bankruptcy Review story here. Jackson Hewitt Tax

Receiverships: Federal Court Receiver or State Court Receiver? Which is Better? (part II)

This is a continuation of my focus on receiverships, and the elementary decision of whether to seek a receivership from a Federal Court or a State Court. Brian Vanderwoude deals with receiverships on a regular basis, and this is his list (part II) of

In This Week's Other Bankrupt Retailer's Asset Sale, No Fear Retail Stores, Inc. Finds a Going Concern Buyer

Borders Group (BGPIQ) June Operating Results: Revenue Down, Operating Loss Worsens (But Gross Margin Improves)

4 ways to lower your health insurance

If you're spending too much on health insurance, consider these four tactics for slashing extra cost.

Credit will sink if underwater home dumped

Dive into research before addressing your home's submerged value.

Financial reform pace drags on

A year after the Dodd-Frank Act, the results have barely gotten off the ground.

How to account for business loss

If you use the cash-basis method of accounting, you can't incur a loss for an uncollected account.

5 unique car insurance policies

Offbeat auto insurance products have rolled onto the market. Do you need Burning Man insurance?

The skinny on spouse's Social Security

Depending on the situation, a spouse can get up to 50 percent of a partner's benefit amount.

Mortgages dangle on debt doubts

Mortgage rates are reeling from the endless wheeling and dealing over the debt ceiling.

SEC Provides an Enforcement Roadmap for the CFPB

One early measure of the bureau's commitment to transparency and fairness will be how it approaches its own enforcement processes.

How to Fix Mortgage Servicing

The business is overconcentrated at megabanks and must open up to specialty players that are better equipped to handle distressed loans.

Dodgers, MLB lock horns over bankruptcy loan

"The Los Angeles Dodgers fought on Wednesday to keep control of their finances while in bankruptcy, arguing Major League Baseball's offer to provide a $150 million loan was a 'deal with the devil.' " Read more here.

Lake County Illinois Bankruptcy Lawyer

Link If you live in Lake County, Illinois, you have plenty of choices when it comes to which attorney to hire to handle your bankruptcy case. If you take the time to do some research, you will find that Lake County has some excellent bankruptcy