Bankruptcy Blogs

Ex-Solyndra Workers Blast Company, Lender

02/02/12
Bloomberg News

Solyndra LLC’s former workers are mad as you-know-what and say they’re not going to take it anymore.

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Chapter 13 Bankruptcy: The Hero Appears?

02/02/12

Chapter 13 Bankruptcy Basics As a Dallas bankruptcy lawyer, I help many clients that are looking for a way to resolve their debts. I find that most people prefer the shorter timeline of a Chapter 7 bankruptcy and don’t want to file for chapter 13 protection. As Lori Patton wrote on this forum: Very often [...]

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The Permanent Foreclosure Crisis and Obama's Refinancing Obsession

02/02/12

For the umpteenth time, President Obama has announced that his solution to the foreclosure crisis is to encourage "responsible" homeowners to refinance at lower interest rates.  Adopting the Tea Party rhetoric and blaming home buyers who got houses in 2006 for their inability to foresee what few economists foresaw, Obama has steadfastly refused to push for principal reductions and payment suspensions for homeowners behind in payments, lest their luckier neighbors who bought at lower prices become resentful.  As a result, he continues to offer help t

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Madoff Trustee Seeks Summary Judgment With Respect To Fictitious Profits, Mets' Owners With Respect to Principal Repayments -- "Jack Sprat" Approach Could Resolve Entire Case

02/02/12

The adversary proceeding of Irving Picard, the trustee of Bernard L. Madoff Investment Securities LLC (“BLMIS”), against Fred Wilpon and Saul Katz, the owners of the New York Mets, and their families and affiliated enterprises (the “Wilpon/Katz Group”), could be substantially resolved over the next few weeks. Although the trial is scheduled to begin on March 19, each side intends to ask Judge Jed S.

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The Daily Docket: American Airlines Parent Seeks to Cut Jobs, Pensions

02/02/12

American Airlines parent AMR Corp. Wednesday said it will seek to cut 13,000 jobs and terminate pensions in pursuit of $2 billion in annual costs savings, tipping its hand for the first time in what could be a long and painful bankruptcy proceeding. Read The Wall Street Journal reports.

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State Attorneys General Are the New Bank Regulators

02/01/12

Spurred by the financial crisis and its impact on their constituents, state attorneys general appear to be carving out a new role as de facto bank regulators.

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It's a Mad, Mad, Mad, Mad Mortgage Investigation

02/01/12

With all the twists and backroom turns, government officials' quest for a settlement and restitution from banks and mortgage servicers is starting to resemble a 1960s screwball comedy.

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Blog of the Day: Bank Transfer Day's Demographic Surprise

02/01/12

Javelin's James Van Dyke says young, would-be money movers face "the Occupier's Dilemma": they like the idea of community-based institutions, but are more attached to the large banks' tech offerings.

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Llamas, Tigers and Bears, Oh My!

02/01/12
Associated Press
Llamas from Ryan Patrick Scott’s failed business venture are seen in Independence, Iowa.

Household pets who belong to financially struggling owners co

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