Bankruptcy Blogs

Money Market Funds Are a Ridiculous Target

03/19/12

I can actually understand and believe a money fund balance sheet. Just show me one bank anywhere whose balance sheet I could likewise rely upon.

[more]

Withdrawal of Extra-Statutory Concession C16 (ESC 16)

03/19/12

The Government has introduced new legislation into the Corporation Tax Acts covering Extra-Statutory Concession C16 (ESC C16) which took effect on 1 March 2012.

Previously, with the prior consent of HMRC, distributions to shareholders as part of an informal winding-up prior to a company being struck off the Companies Register, were taxed as a capital receipt. The new Order [1] caps the limit of total distributions which can be treated as such at £25,000.

[more]

The Daily Docket: Mets Owners Settle with Madoff Trustee

03/19/12

The owners of the New York Mets baseball team and the trustee trying to recover money for victims of Bernard Madoff’s epic Ponzi scheme Jury settled as jury selection began. Read the story here in WSJ Law Blog.

[more]

Personal Bankruptcy's Effect Upon Debtor's Small Business

03/19/12

Many people who file Chapter 7 bankruptcy are self-employed owners of a small business. The business is not doing well, and the owners have accumulated substantial personal debt to support the business and pay personal living expenses while the business could not support them. In many of these bankruptcy situations the debtor would like to keep the business after bankruptcy. They want to know what will happen to their business if they file personal bankruptcy. 

[more]

Suze Orman Recommends Bankrupting Retiree – Without The Benefits

03/19/12

Bankruptcy is a last resort of course.  But it is an option.  Paying back debt when you barely have enough money to survive is usually a horrible alternative.

[more]