Bankruptcy Blogs

One of Michigan’s biggest bankruptcy law firms has put itself under Chapter 11 protection, proving that no business is bankruptcy-proof when lawyers are involved.

Frego & Associates, led by attorney James Frego, has filed for bankruptcy and blamed its financial problems on payments owed to Mr. Frego’s former firm, which has shut down.

The next decade should be a payments-industry renaissance, but thanks to established market shares and persistent consumer and merchant habits, familiar names will remain at the core.

A federal district judge said the Commodities Futures Trading Commission may move forward with a lawsuit seeking to hold former MF Global Holdings Chief Executive Jon Corzine and an ex-colleague liable for the misuse of nearly $1 billion in brokerage customer funds. Read the Daily Bankruptcy Review article here.

Receiving Wide Coverage ... Target Breach Update: The Secret Service is looking at arrests made in a Texas credit card fraud case for possible links to Target's massive data breach, reports the Journal. The paper also reports that the malware used against Target was on sale in black markets a year ago for $2,000. "That life cycle Â... shows the new nature of the threat faced by American retailers hoping to defend themselves from attacks," theÂ...