Bankruptcy Blogs

Hostess Brands Inc. is defending its bid to shed its pension plans and cut back on benefits for its unionized employees, saying it’s the only way for the company to survive its current trip through bankruptcy. Read the Daily Bankruptcy Review article here.

Much like community banks bearing the burden of overregulation designed for the megabanks, small credit unions are being sucked into the perilous efforts of their much-larger counterparts.

When Creditors Ignore the Bankruptcy Discharge Creditors who attempt to collect on debts that have been discharged in bankruptcy often find themselves in serious hot water with the Bankruptcy Court.  Bankruptcy judges take the discharge order very seriously and will dish out punishment to those who ignore its prohibitions against continued collection efforts. As Nebraska [...]

As a general rule, unions try avoid bankruptcy court—a place where airlines and other major corporations have used the court’s power to break pay promises they made to workers through collective-bargaining agreements.

But federal bankruptcy court is where one financially struggling Florida union took its financial troubles earlier this week.

The U.K. Supreme Court said Wednesday that billions of dollars in client cash belongs to customers of Lehman Brothers Holdings Inc.’s U.S. brokerage whether it was properly segregated or not, a win for customers of Lehman’s U.S. unit and the trustee winding down the business. Read the Daily Bankruptcy Review article via The Wall Street Journal.