Bankruptcy Blogs

Chapter 12 bankruptcy is debt relief for family farmers. It allows these farmers to reorganize their debts and save their farms and their way of life. But who qualifies as a “family farmer”?

Bain Capital's relationship with auditor PricewaterhouseCoopers, though not necessarily inappropriate, is still too casual and in need of more monitoring.

Designer Bride Inc., which has dressed Manhattan brides in wedding gowns by the likes of Carmen Marc Valvo, David Meister and Lilly Pulitzer, has called it quits.

The retailer filed for Chapter 7 bankruptcy liquidation on Friday with assets of nearly $88,000 and debts approaching $194,000, court papers show.

The U.S. Department of Energy and the Internal Revenue Service are demanding information on potential tax breaks that could allegedly be worth “hundreds of millions of dollars” to the private equity firms behind failed solar power equipment maker Solyndra LLC. Read the Daily Bankruptcy Review article here.

There are generally three types of claims in a bankruptcy proceeding: unsecured claims, secured claims and administrative expense claims. Section 503 of the Bankruptcy Code governs the allowance of administrative expense claims. Section 503 provides that "after notice and a hearing, there shall be allowed administrative expenses…, including the actual and necessary costs and expenses of preserving the estate." 11 U.S.C. §　503(b)(1)(A).