Bankruptcy Blogs

Former British business star Paul Kemsley got a thumbs-down last Friday from a New York bankruptcy judge who was asked to shield Kemsley’s U.S. assets while a court in London helps him deal with creditors.

Judge James M. Peck of the U.S. Bankruptcy Court in Manhattan denied a U.K. trustee’s request to shield Kemsley’s U.S. assets under Chapter 15 of the Bankruptcy Code, which would have protected Kemsley from creditor action in the U.S. pending a resolution of the U.K. proceedings.

Foreclosure Rates are Down and Housing Sales are Up The end of 2012 may have marked the close of our most recent recession.  Recent reports are showing that foreclosure rates were down by 41 percent in Los Angeles County when compared to the previous year.  This decrease in foreclosures, combined with the increase in housing [...]

The post Is Now a Good Time to Buy? appeared first on National Bankruptcy Forum.

Lauren Willis has joined us for the last month as a guest blogger, and in her most recent post thanked us for allowing her to "use our soap box." You're very welcome, Lauren, but we really don't want you to leave.  We're happy to report that Lauren has agreed to add her voice to Credit Slips as one of our "Occasional" bloggers.

Receiving Wide Coverage ...

More Cyprus: The FT surveys some of the fallout from efforts to shore up Cyprus' insolvent banks, noting that the damage is rippling in all directions and hitting businesses only loosely related to the country's formerly booming offshore financial sector. Some analysts are predicting the Cypriot economy will shrink 10% or more this year, the FT reports. ...