Bankruptcy Blogs

Repaying Debt for Law School: Federal Programs Make It Doable, Not Easy

07/16/12

The Association for Legal Career Professionals has released data on starting salaries of 2011 law school graduates, reporting a median salary of $60,000.  So how can these recent graduates afford to repay their student loans?

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'We Won' vs. 'You Lost': Reactions to Credit Card Settlement

07/16/12

The credit card industry's proposed deal to settle long-pending retailer lawsuits set insiders chattering, divided over how much each side won and lost in the deal.

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Botticelli Painting’s Fate up to Bankruptcy Judge

07/16/12
Associated Press
In this March 18, 2010 file photo, gallery owner Lawrence Salander, center, leaves New York Supreme Court with his son Jonah, right, and his attorney Charles
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Bank Directors: It's Your Job to Worry About D&O Insurance

07/16/12

Directors and officers liability coverage is an unpopular topic of conversation at board meetings. But directors who shirk their responsibilities in this area may one day find their claims denied.

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How Banks Can Keep Customers They're Losing

07/16/12

Why would a bank issue prepaid debit cards to its customers? It's an inferior product for consumers and banks alike. Issue prepaid credit cards instead, with four times the interchange.

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Auditors Are Asleep at the Switch on Banks' Risk Controls

07/16/12

Big banks' boards keep missing increased risk and poor internal controls. Their auditors, supposedly shareholders' first line of defense against poor financial disclosure, material misstatements and fraud, have been silent.

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The Daily Docket: Tribune Wins Plan Approval

07/16/12

Tribune Co. won court approval of its Chapter 11 plan after a long and contentious bankruptcy proceeding, clearing the way to action before the Federal Communications Commission that will be anything but easy for the publishing and broadcasting operation. Read the Daily Bankruptcy Review article here.

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Northstar Aerospace Files for Bankruptcy in Delaware Due to Negative Profits, Decreased Defense Spending and Lack of Funding

07/15/12

In June, Northstar Aerospace and various related entities (collectively, "Northstar") filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  Northstar describes itself as a supplier of "components and assemblies for the commercial and military aerospace markets."  The company also provides machining, repair and overhaul services for the aerospace industry.  See Northstar's Declaration in Support of First Day Motions (the "Decl.") at *3.  T

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Delaware Bankruptcy Court Finds Bonus Plan Was Created in the Ordinary Course of Business

07/14/12

On July 9, 2012, Judge Peter J. Walsh of the United States Bankruptcy Court for the District of Delaware issued a memorandum opinion (the "Opinion"), in the Blitz U.S.A. bankruptcy proceeding addressing whether an employee bonus plan is a transaction made in the ordinary course of business under 11 U.S.C.

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