Bankruptcy Blogs

Phasing Out Mortgage Interest Deduction Won't Help Anyone

03/20/12

There is no convincing evidence that eliminating the mortgage interest deduction now would free up capital for more productive investment. Nor would it necessarily achieve the goal of "fairness."

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Orlando Bankruptcy Attorney Facing Malpractice Suit For Ill-Advised And Unnecessary Chapter 7 Filing

03/20/12

I have been asked by legal malpractice attorneys occasionally to review cases they are considering for legal malpractice claims against bankruptcy lawyers. This week a south Florida attorney asked me to look at  a bankruptcy case filed by an Orlando, Florida bankruptcy attorney whom his client wants to sue for legal malpractice. I declined the engagement because I know the attorney about  to be sued, and I want to maintain a professional relationship.

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The Daily Docket: Japan’s Elpida Seeks U.S. Bankruptcy Protection

03/20/12

Tokyo-based chip maker Elpida Memory Inc. is asking a U.S. court to protect its assets while it works to restructure its debts in Japan. Read the Daily Bankruptcy Review story here.

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As the details

03/20/12

As the details of the Mortgage Settlement Agreement, the deal between 49 of 50 states and the U.S. on one side, and BanK of America, Wells Fargo, CitiBank, Ally Financial, and JP Morgan/Chase on the other, become analyzed, it a HUGE win for the Banks. The not only received a "Get Out Of Jail Free" card but are now assured that there will no jail and the cost will not hurt profits.

Quoting from the March 13, 2012 American Banker's article about the agreement

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Crystal Cathedral, Part 2

03/19/12
Associated Press
Paul Lips, left, and Jim Coleman, center, husband of Hope Center of Christ Pastor Sheila Coleman, greet worshippers to the church’s first service after breaking away from the C
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Attorney Who Wrote the Book on Ponzi Schemes Discusses Mets Deal

03/19/12
Bloomberg News
Fred Wilpon, chairman and chief executive of the New York Mets, right, and president Saul Katz laugh while exiting a Manhattan federal court Monday.

Monday’s

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Economic Recovery Still Needs TAG

03/19/12

As a state regulator who witnessed firsthand the role the TAG program has played in ensuring financial stability, I encourage Congress to continue TAG for at least two years.

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Foreclosure Defense in Montana

03/19/12

You’ve been served a notice and foreclosure is impending. You feel helpless and want to save your home. There is something you can do. Foreclosure defense involves fighting back against a lender who is trying to foreclose to either stall the foreclosure process or stop it altogether. A foreclosure defense lawyer can slow the foreclosure [...]

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Legal Nightmare Ends for Mets' Owners. No Relief In Sight for Mets' Fans.

03/19/12

At the end of the day, Picard really did not have a case, but there was no way that Wilpon and Katz could risk a trial.  It looks to be a fair and reasonable outcome. 

http://espn.go.com/new-york/mlb/story/_/id/7708498/new-york-mets-settle-madoff-trustee-162-million

 

 

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