BankruptcyQuestionsNationalBankruptcyForum

I Filed Bankruptcy, Now I Want Out…

06/28/11

Dismissing a Bankruptcy Case While bankruptcy has the ability to provide great relief to those facing financial difficulty, it is not always a bed of roses. There are things that can go wrong with a bankruptcy case. Many debtors learn the hard way that bankruptcy can be a messy place once the motions and objections [...]

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Signature Styles (Spiegel, Newport News & Shape Fx Brands) Update for Customers: Official Creditors’ Committee Asks Bankruptcy Court to Force Companies to Honor Gift Cards & Merchandise Credits At Least Temporarily

06/28/11

The Official Committee of Unsecured Creditors has asked the bankruptcy court to force Signature Styles/Spiegel/Newport News/Shape Fx to honor gift cards, merchandise credits and other customer programs, as well as to actively participate in the sale process.  To learn more about the Committee’s request, please visit our newest article on this case: Signature Styles (Spiegel, [...]

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L.A. Dodgers file for bankruptcy – read the documents and find out how much each player is owed.

06/28/11

The L.A. Dodgers filed for Chapter 11 bankruptcy in Delaware on Monday, June 27, 2011.   The filing came because a court ruled that the owner would have to share the team with his ex-wife.  A $150 million dollar debtor in possession credit facility had been secured right before filing. The following players were owed [...]

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Billionaire Bankruptcies?

06/27/11

As reports surface that wealthy socialite Patricia Kluge has filed for Chapter 7 bankruptcy protection, many have wondered:  how can you file for bankruptcy when you are a billionaire? When United State bankruptcy laws were drafted, the focus was pro-debtor.  The idea was to provide a fresh start for people who had suffered under the [...]

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Homeowners Now Being Cheated by “Mortgage Auditors”

06/27/11

This is my first post on National Bankruptcy Forum and I wanted to address an issue that is very important to me.  Many Bankruptcy Attorneys are active in the fight to save their client’s homes.  When in the middle of a fight for your home please talk with an attorney before you hire a securitization [...]

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Bankruptcy and Tax Debt: What Happens to Tax Debt in Bankruptcy

06/27/11

If I had a nickel for every time I am asked this question, I would have a lot of nickels. The elimination of tax debt in bankruptcy can be a little tricky, and I often like to meet with clients to go over the necessary documents together before I make the assessment of whether or [...]

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Equity Committee Appointed in HearUSA Bankruptcy Case

06/27/11

The United States Trustee filed a bankruptcy court notice last Wednesday in the HearUSA, Inc. chapter 11 case.  In the notice, the U.S. Trustee disclosed that it has appointed an Official Committee of Equity Security Holders in the bankruptcy cases.  The members include two individual investors and three institutions: Arcadia Opportunity Master Fund, Ltd.; Sherleigh Associates Inc., [...]

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Garlock Sealing Technologies Seeks Approval of Voluntary Severance Program for Certain Unionized Employees in Palmyra, New York

06/27/11

Last week, related companies Garlock Sealing Technologies LLC, Garrison Litigation Management Group, Ltd. and The Anchor Packing Company asked the bankruptcy court in Charlotte, North Carolina to approve an “exit incentive” or voluntary severance program for certain unionized employees.  The companies, which are affiliates of EnPro Industries(NYSE: NPO), are “the acknowledged global leader in high-performance fluid sealing [...]

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Defiant Texas Congressman Ruben Hinojosa fights efforts to unseal his bankruptcy petition

06/26/11

When Texas Congressman Ruben Hinojosa, who represents the 15th District which goes from McAllen at the Mexican border through Corpus Christi and up to Victoria, voted for the bankruptcy reform bill BAPCPA in 2005, little did he know that he would be subject to its provisions himself. Congressman Hinojosa whose family business has a loan [...]

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Kansas Supreme Court stops keep and pay the fourth option in Kansas, no more not reaffirming.

06/25/11

We used to tell clients that there was no need to reaffirm in Chapter 7, just keep making the payments and the lender will not repossess.  This way you do not have any personal liability and you can walk away if the car is destroyed in an accident or you can no longer afford it. [...]

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