Bankruptcy Blogs

Lon Morris to Sell Sports Gear to Rival College

08/06/12

Texas cheerleaders, hand over your pompoms.

As if Lon Morris College’s bankruptcy hasn’t done enough to sink school spirit at the two-year institution outside Dallas, its athletic department has agreed to sell off equipment to fund the survival of the hunter-green-and-white Bearcats.

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What Do You Mean I Can’t Afford Bankruptcy?

08/06/12

So, I’m sitting in my office discussing a prospective client’s financial situation and it is, indeed, grim. So, the prospective client blurts out that, “it looks like I can’t afford bankruptcy.”

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Libor Rigging Predictable, Inevitable

08/06/12

London equals weak regulation. Self-regulation equals self-interested regulation. Libor is set in London, by banks, through self-regulation. Why all the shock and outrage when banks set it to suit themselves?

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If You Need to File Chapter 7, Don’t File Chapter 13

08/06/12

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Business Bankruptcy Location: Where Can A Business File?

08/06/12

Where may a business file bankruptcy? The president of a small family business based in Georgia called me to ask whether his business could file a Chapter 11 bankruptcy in Florida. The business was a Georgia corporation with offices in Atlanta, Orlando, and Tampa. The caller preferred to file bankruptcy in Florida because he thought doing so would reduce the publicity and his own embarrassment in Atlanta where the president resided. In addition, the president maintains a personal residence in Orlando where he lives half the year.

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Small Banks Unite Over New Rules; Libor Leads Big Banks to Turn on Each Other

08/06/12

Receiving Wide Coverage ...

Every Banker for Himself: Sources tell the Times the London Interbank Offered Rate scandal is leading banks to turn on one another. Government and bank officials close to the Libor investigations say implicated banks are using Barclays' $450 million settlement as a "guidepost" in their discussions with authorities. The go-to line seems to be that one's bank wasn't as bad as its counterparts and, therefore, should not be so severely penalized. ...

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