Bankruptcy Blogs

Was Indiana Bankrupt?

08/23/11

A friend of mine here in Champaign, Roger Prillaman, told me he was strolling the Indianapolis Canal Walk and saw a historical marker about how the state of Indiana became bankrupt in 1839. The canal walk is a remnant of the Whitewater Canal, an internal improvement of the mid-19th century.

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Conflicts on the New York Fed Board

08/23/11

The regional federal reserve banks are weird, hybrid creatures, both private bankers' banks and public governmental agents. This hybrid existence means that they have conflicts baked into their DNA--they are both supposed to serve and regulate their member banks. These conflicts have been most patent with the New York Fed. During the AIG bailout, it was represented by the very lawyer who minutes before had been representing the private bank consortium that was trying to arrange a bailout of AIG and which benefitted from the public bailout.

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Stern Consequences

08/23/11

The folks at the Weil bankruptcy blog do a great service in summarizing some of the initial consequences of the US Supreme Court's Stern v. Marshall decision. Suffice it to say, Mr. Chief Justice Robert's optomisim may have fallen. At the first hurdle.

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Controversial attorney Gleason apologizes to judge

08/23/11

"Hollywood attorney Kevin Gleason, who called a judge’s opinions 'half baked' and delivered a bottle of wine to the judge’s office, made a limited public apology in court Thursday for his actions." Read more here.

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GM says bankruptcy excuses it from Impala repairs

08/23/11

"General Motors Co (GM.N) is seeking to dismiss a lawsuit over a suspension problem on more than 400,000 Chevrolet Impalas from the 2007 and 2008 model years, saying it should not be responsible for repairs because the flaw predated its...

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The Daily Docket: Barnes Bay Reworks Bankruptcy-Exit Plan

08/23/11

Barnes Bay Development Ltd. is reworking its plan to exit bankruptcy protection under the control of Starwood Capital Group after a group of wealthy investors who put down millions of dollars in deposits on luxury Caribbean vacation residences complained they’re being short-changed. Read the Daily Bankruptcy Review story here.

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I Filed Bankruptcy, My HOA Is Suing Me…

08/23/11

I Filed Bankruptcy, My HOA Is Suing Me… Can My HOA Sue Me After I Filed Bankruptcy? HOA lawsuits to collect delinquent HOA assessments (HOA dues) are on the rise. Most attorneys agree on the reason for this. It used to be that if you didn’t pay your HOA dues, your HOA would simply record [...]

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Homer Glen Bankruptcy Attorney Defends Debtors Against Adversarial Complaints

08/23/11

Once a creditor files a complaint, it depends on which kind of complaint the creditor files as to whether or not a debtor will receive his discharge.  The 60 day period is the time frame within which the court cannot issue a discharge.  If no complaints objecting to the debtor’s discharge are filed, and if [...]

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Alsip Bankruptcy Lawyer Describes The Debtor/Trustee Meeting

08/23/11

The debtor is going to be asked to confirm the information in the bankruptcy petition and schedules, and to confirm his or her identity.  These questions are things that the debtors have already faced.  They should pose no problem for the debtor.  And meeting should last no more than five to ten minutes.  The debtors [...]

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