Bankruptcy Blogs

Tennessee Coal Company Noranda Files for Bankruptcy

02/08/16

Tennessee-based Noranda Aluminum Inc. filed for chapter 11 bankruptcy Monday to sell a business segment. The Wall Street Journal has the Daily Bankruptcy Review article here.

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Corporate Bankruptcy Filings Rise Nearly 13% in January

02/05/16
People wait to enter U.S. Bankruptcy Court in New York Feb. 2, 2010.
Brendan McDermid/Reuters

The number of U.S.

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Rich Dad Broke Dad?

02/05/16

A seminar promoter owed nearly $24 million for arranging speaking gigs for Robert Kiyosaki, the best-selling author of “Rich Dad Poor Dad,” is fighting for access to a secret lawsuit.

Lawyers for Learning Annex LLC, which has accused Mr. Kiyosaki of moving “tens of millions of dollars plus other lucrative assets” among his companies to avoid making royalty payments, are now arguing to unseal an August 2014 lawsuit that appears to cover similar ground.

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Let's Be Careful Out There: The Danger of Omitting Assets

02/05/16
Filing bankruptcy is serious business.    The mere act of filing a petition creates an automatic stay effective against all entities.    Liens can be modified, taxes can be paid out and debts can be discharged.   The price of admission for getting all these benefits is full disclosure.   Unfortunately some debtors either don't understand these obligations or think they can selectively disclose only the assets they want to list.
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Why the 20-Year Mortgage Is the Answer to Housing Finance Mess

02/05/16

Housing policy focused on government guarantees and the 30-year mortgage hasn't done much to help low- and middle-income homeowners build wealth.

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Next Week in Bankruptcy

02/05/16

Ahead of a long weekend, companies are looking for approval from bankruptcy judges next week on a variety of motions, including one signoff that would largely conclude an old dispute.

On Monday, J.P. Morgan Chase & Co. and the remnants of Lehman Brothers Holdings Inc. will ask for approval of a $1.42 billion settlement that resolves claims that J.P. Morgan illegally siphoned billions of dollars from Lehman before its collapse.

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Marketplace Lenders Have Duty to Report Credit Data

02/05/16

Despite their recent growth, too few marketplace lenders are reporting data to the consumer reporting agencies, which could negative repercussions on the financial system.

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Morning Scan: Dem Debate Focuses on Wall Street; More Bad News for European Banks

02/05/16

Receiving Wide Coverage ...

Democratic Candidates Debate: Wall Street took top billing amongst the topics of Thursday's Democratic presidential debate between remaining contenders Sen. Bernie Sanders, of Vermont, and former Secretary of State Hillary Clinton. Throughout the evening, Sanders repeatedly criticized Clinton for her connections to the financial services industry – and the way in which those connections appear to have benefited her campaign's bank account. "What being part of the establishment is, is in the...

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KaloBios Won’t Get Bankruptcy Trustee to Oversee It

02/05/16

A judge rejected a request to have a trustee oversee the bankruptcy case of KaloBios Pharmaceuticals Inc., which fired Chief Executive Martin Shkreli after he was arrested on securities-fraud charges. The Wall Street Journal has the Daily Bankruptcy Review article here.

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