This week on The Broke and the Beautiful, the company that hosted Michael Jackson’s memorial concert danced into administration. We also report on a TLC band member falling into bankruptcy and boy-band mogul Lou Pearlman’s bankruptcy trustee’s bad news for Ponzi-scheme victims.
Dynegy Inc. appointed a new chairman and said it joined its Dynegy Holdings LLC unit in filing a proposed reorganization plan with the U.S. bankruptcy court. Read the article in Daily Bankruptcy Review.
The Federal Reserve has become a huge holder of mortgage-related securities, creating tight relationships with other parts of the government and resulting in a remarkable triangle.
Great Atlantic and Pacific Tea Co., which owns the A&P, Pathmark and SuperFresh supermarket chains among others, has released a list of store leases it plans to assume, or keep, when it exits bankrup
Bankruptcy Rule Amendments. As reported in a post last month, this year's amendments to the Federal Rules of Bankruptcy Procedure have now taken effect today, December 1, 2011.
Bankruptcy Rule Amendments. As reported in a post last month, this year's amendments to the Federal Rules of Bankruptcy Procedure have now taken effect today, December 1, 2011.
Lehman Brothers Holdings Inc., on the heels of winning “overwhelming” support from creditors for its Chapter 11 plan, struck a deal concerning nearly $4 billion in priority claims from mortgage giants Fannie Mae and Freddie Mac, which were seized by the U.S. government shortly before Lehman’s collapse. Read the Daily Bankruptcy Review article here.
Two married Florida debtors own an upside down homestead property. They are seeking mortgage modification in the hopes of holding on to their home. They file Chapter 7 bankruptcy and do not claim their house as exempt homestead because there is no equity to exempt. The debtor’s Statement of Intention stated that they wanted to retain the homestead property. The debtors claimed a “wildcard” exemption which is available to debtors who do not receive benefits of the homestead exemption.
Two married Florida debtors own an upside down homestead property. They are seeking mortgage modification in the hopes of holding on to their home. They file Chapter 7 bankruptcy and do not claim their house as exempt homestead because there is no equity to exempt. The debtor’s Statement of Intention stated that they wanted to retain the homestead property. The debtors claimed a “wildcard” exemption which is available to debtors who do not receive benefits of the homestead exemption.
