Bankruptcy Blogs

Judge Rakoff Squeezes Strike Zone for Madoff Trustee

10/07/11

Judge Jed S. Rakoff last week largely sided with Fred Wilpon and Saul Katz, the owners of the New York Mets, and their families and affiliated enterprises (the “Wilpon/Katz Group”) on their motion to dismiss the adversary proceeding brought by Irving Picard, the trustee of Bernard L.

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Judge Rakoff Squeezes Strike Zone for Madoff Trustee

10/07/11

Judge Jed S. Rakoff last week largely sided with Fred Wilpon and Saul Katz, the owners of the New York Mets, and their families and affiliated enterprises (the “Wilpon/Katz Group”) on their motion to dismiss the adversary proceeding brought by Irving Picard, the trustee of Bernard L.

[more]

The Broke and the Beautiful: Sagamore Hotel Edition

10/07/11

This week on The Broke and the Beautiful, a fancy Miami Beach hotel checks into bankruptcy, while Beso LLC kisses Chapter 11 goodbye. Also this week, “The Donald” gets another brand under his belt, and the Dallas Stars are amping up for the new hockey season.

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When You Hire An Illinois Bankruptcy Lawyer, How Long Will The Case Take?

10/07/11

A Chapter 7 bankruptcy case can last anywhere from three and a half to five months.  It is really going to depend upon the nature of your Chapter 7 case, whether or not the trustee is extending the time to object, whether or not it’s being put over for amendments, and whether or not the [...]

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Occupy Wall Street, "Fringe Banking" and Public Options

10/07/11

I happened to walk by Zuccoti Park in Manhattan yesterday, where the Occupy Wall Street protest is centered. I picked up a few pieces of protester literature. I can't say that I was in any way comprehensive in my collection. Some of the literature was just nuts, e.g., a flier blathering about admiralty law usurping the common law and the Trading with the Enemies Act. This flier could just as easily have been found at a Tea Party gathering. It gave new meaning to the term "fringe banking." 

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Think Twice About Payday Loans

10/07/11

As a Dallas bankruptcy attorney, I warn my clients to think twice about payday loans. Not only do they carry poor interest rates that will cost you much more in the end, if you default on the loan you could end up in serious financial trouble. The Secured Debt Trap Most people don’t realize the [...]

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The Daily Docket: Lehman Sues Goldman Over Office Deal

10/07/11

A real-estate fund run by Goldman Sachs Group Inc. has walked away from a $1.26 billion deal with Lehman Brothers Holdings Inc. to buy a portfolio of 10 office buildings in a suburb of Washington, according to a lawsuit filed Thursday. Read the Daily Bankruptcy Review story here in The Wall Street Journal.

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