Bankruptcy Blogs

How Debt Buyers Turn Zombie Debt into Valid Claims

10/18/11

Several of my Bankruptcy Law Network colleagues have written about the scourge of “zombie debt.”   This colorful name applies to very old debt that is purchased by a debt buyer at pennies on the dollar.   The moniker “zombie” refers to the fact that usually the statute of limitations for collecting this debt has expired.  In [...]

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Now you know better than that, I said

10/18/11

Over on Dealbook, I look at a fight between Lehman and Deutsche Bank regarding classification of a claim Deutsche Bank bought from Lehman's German estate, and then partially sold to some hedge funds. The stakes are only four or five cents on the dollar -- on a claim of several billion dollars.

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Red Red Ink

10/18/11
Reflex Recordings & Music Ltd.

Reggae pop stars UB40 might have to downgrade to the boxed version.

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2011 Calvin Ashland Awards Dinner

10/18/11

November 3, 2011 Downtown Marriott Reception and No-Host Bar at 6:00pm Dinner and Awards Presentation at 7:00pm Jazz Trio Featuring Bruce Campbell Marriott Grand Ballroom 333 S. Figueroa Street Los Angeles, CA 90071 -Your cdcbaa annual membership fee includes one...

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Durbin Rule Is Weak Excuse for New Bank Fees

10/18/11

The Bank of America $5 debit use fee had nothing to do with any new law passed by Congress, it was just the inexorable march of the biggest banks finding new ways to exact more fees from consumers.

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Delaware Bankruptcy Capital Status May End With Proposed Law

10/18/11

"A bipartisan bill sponsored by leaders of the House Judiciary Committee may strip Delaware of its status as the premier venue for U.S. bankruptcy cases, costing the state’s economy an estimated $100 million a year. Lamar Smith, the Texas Republican...

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The Daily Docket: Judge Rejects Call for Solyndra Trustee

10/18/11

Solyndra LLC Monday defeated a takeover threat from the U.S. Department of Justice, which demanded the company be put into the hands of a bankruptcy trustee as probes of a $527 million federal loan continue. Read the Daily Bankruptcy Review story here.

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Marijuana Sales Can’t Fund Chapter 13 Plan

10/17/11

Despite state laws legalizing production of marijuana for medical use, it is not a legitimate revenue source to fund a Chapter 13 Plan.  Medical Marijuana laws have been enacted in sixteen states and the nation’s capital city, Washington, DC, as of September 2011.  An additional six states have pending legislation to legalize the use of [...]

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