Bankruptcy News

Important Announcement From the United States Court of Appeals for the Ninth Circuit: Bankruptcy Judge Applications Currently Being Accepted

04/21/11

The United States Court of Appeals for the Ninth Circuit has asked us to make the following announcement: The United States Court of Appeals for the Ninth Circuit Invites applications from highly qualified candidates for the position of Bankruptcy Judge for the Northern District of California, Oakland Division. The term of office is 14 years subject to applicable [...]

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Lenny Dykstra Accused of Text Book Bankruptcy Fraud

04/16/11

Baseball Great Lenny Dykstra Accused of Bankruptcy Fraud It’s important to point out that Lenny Dykstra has only been accused of bankruptcy fraud. He has not pled guilty, he has not been convicted. Too often, we hold the criminal accused guilty in the court of public opinion before they have had their day in court. [...]

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It’s Time to Get Back in the Black

04/16/11

Let’s begin with a cliche: the economy is in shambles. Even with an encouraging March jobs report, unemployment is at 8.8 percent and many experts say the rate dropped mainly because people have given up searching for jobs, not because they’ve found work. The lingering recession has caused major financial pain for countless American households, [...]

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Lenders Try to Prevent Chapter 11 Filings, Prefer Foreclosure

01/27/11

Traditionally, large commercial real estate loans have been non-recourse, meaning lenders can look only to their collateral in the event of a default. Increasingly, lenders are implementing contingent personal guarantees into loan agreements which bring a developer’s personal assets into play if they behave “poorly.” “Bad boy” acts often center around “milking” a distressed property…

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In New York City, Bed Bugs Bites Can Lead to Bankruptcy

01/24/11

You may have heard: a bed bug epidemic is sweeping the country and few places have it worse than New York City. Seemingly everyone in the Big Apple has a bed bug story and don’t kid yourself; the infestations aren’t limited to the “less desirable” parts of town. The Waldorf Astoria has had bed bugs,…

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Could Your State Be Filing Bankruptcy Soon?

01/24/11

An article today first appearing in the New York Times suggests that congressional aides are exploring the possibility of legislation that would allow states to file for bankruptcy protection. You can read a summary of the article here.  The bankruptcy code currently provides the option for cities to seek bankruptcy protection, but does not provide…

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