Bankruptcy Blogs

Here's One Way to Get a Quick Handle on Loan-Loss Coverage

08/04/11

There are no accounting, regulatory or industry guidelines for what constitutes an adequate allowance for credit losses. But there is a simple and common-sense ratio that's easy to calculate and explain.

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California: Crystal Cathedral Not for Sale

08/04/11

"The Crystal Cathedral Ministries board has decided not to sell the campus of the landmark Orange County church, as the ministry works to emerge from bankruptcy proceedings. Potential buyers, including the Diocese of Orange, had offered up to $50 million...

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Rumor-Beset Hollywood Mansion Files for Bankruptcy

08/04/11

Rumors of a pool-table-top murder within an uninhabited Hollywood Hills mansion’s billiards room: false.

The one about aliens landing on the 22-acre property, giving them a clear view of the Los Angeles skyline and the whitewashed Hollywood sign: false.

Speculation about the soft pink Mediterranean home’s owner filing bankruptcy papers, desperate to avoid a foreclosure auction: true.

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Bankruptcy Inn Alliance

08/04/11

From: Andrew R. Turner [mailto:[email protected]] Sent: Thursday, August 04, 2011 9:19 AM To: Brett Curlee; Esq. Subject: New Bankruptcy Inn of Court Alliance Colleagues in the American Inns of Court Bankruptcy Community: As our new Inn programming year begins, Michael...

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Judge Allows Braxton to Keep Grammys, Other Belongings

08/04/11
Getty Images
Toni Braxton

Toni Braxton’s creditors won’t get their hands on the songstress’s six Grammys, under a

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NACTT Annual Seminar This Weekend

08/04/11

NACTT 46th Annual NACTT Seminar August 3-6, 2011 Anaheim Marriott Anaheim, CA For information contact: NACTT at (800) 445-8629, or visit NACTT at www.nactt.com One Windsor Cove, Suite 305 Columbia, SC 29223

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Thursday, August 4

08/04/11

Receiving Wide Coverage ... European Contagion: The papers report today that the continent's debt crisis is spreading from peripheral countries (Greece, Ireland and Portugal) to Italy and Spain. (Though we'd thought that the investment community had lumped all five together a while ago, given traders' use of the unflattering acronym PIIGS). According to a story in the Times, big banks in those two larger economies -- namely Italy's UniCredit and Intesa, and the Spanish banks Santander...

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The Daily Docket: ‘Old’ GM Sitting on ‘New’ GM Stock

08/04/11

General Motors’ bankruptcy estate is still holding onto $2.36 billion worth of securities in the reorganized auto maker, meaning old bondholders and other creditors will continue to see payments on top of the nearly $8 billion already received this spring and summer. Read the Daily Bankruptcy Review story here.

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Filling a pro-se Chapter 13 to stop a foreclosure, a bad idea, but sometimes necessary

08/04/11

  It is of course a bad idea to file on your own, but I recognize that in some cases it is necessary as you may not have the funds to hire an attorney.  Sometimes, you can hire an attorney once you have filed, and your case can succeed.  It used to be a lot [...]

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How Does Bankruptcy Affect Your Eligibility for HAMP?

08/04/11

Many homeowners applied for HAMP modifications through The Home Affordable Modification Program in hopes of avoiding bankruptcy. But then they discovered that mortgage servicers are horribly slow in processing the paperwork. Plus, the mortgage companies will not even acknowledge that they received the documents, pushing homeowners closer and closer to bankruptcy. As a result, many [...]

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