Bankruptcy Blogs

Former USC, NFL football player sentenced for bankruptcy fraud

07/26/11

"Richard Francis Sanford, 54, of Lexington, pleaded guilty in U.S. District Court in Columbia to bankruptcy fraud and was sentenced to two years’ probation, 30 days’ home confinement and 100 hours of community service, U.S. Attorney Bill Nettles said Friday."...

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Alabama's Jefferson County hires bankruptcy lawyers

07/26/11

"Alabama's Jefferson County on Tuesday hired outside bankruptcy lawyers ahead of a critical decision on its debt that could result in what would be the largest municipal bankruptcy in U.S. history. The hiring of Klee, Tuchin, Bogdanoff & Stern, LLP,...

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Bankruptcy Beat Snapshot: Brian Resnick

07/26/11

Partner at Davis Polk & Wardwell LLP.

Graduate of Columbia Law School.

Performed on “Saturday Night Live” with Tina Fey and Rudy Giuliani.

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Can I Raise MY Debt Ceiling? Should I?

07/26/11

While Congress and the White House debate raising the debt ceiling of the nation, many of us just plain citizens wonder if we too should borrow more money to get through our hard times.  The questions we need to ask are… can we borrow more? … and … should we borrow more? Lending institutions drastically tightened [...]

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Congressional Budget Office Report: National Debt to Exceed GDP

07/26/11

It’s amazing how bad things have gotten. There is real talk of the federal government defaulting on its debts and the rating agencies will very likely downgrade U.S. Treasuries as a result. Just how dire is the economic outlook if we continue on our current deficit spending course? Ask the folks at the Congressional Budget [...]

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The Scan for Tuesday, July 26

07/26/11

Receiving Wide Coverage ... A Split Decision: Deutsche Bank said Anshu Jain, head of its investment bank, and Jürgen Fitschen, the German bank's head of regional management, will become co-CEOs of the bank next year when Josef Ackermann retires. One holdup, according to the Times, had been that Jain, a native of India who is not fluent in German, is regarded as not ready to assume the statesmanlike duties required of Deutsche Bank's chief. The Journal...

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The Scan for Monday, July 25

07/26/11

Receiving Wide Coverage ... Two Tales of A Nation: The deal on debt relief for Greece will remove uncertainty, helping prevent a loss of confidence in banks, said Charles Dallara, the managing director of the Institute of International Finance, the Times reported. Dallara was a negotiator for the deal. The Post reported that Moody's cut Greek debt three notches to Ca and warned that the nation will likely default before stabilizing. Wall Street Journal, Washington Post Wall...

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The Daily Docket: W.R. Grace Lenders Push For $1 Billion-Plus Payout

07/26/11

W.R. Grace & Co. lenders say a Philadelphia federal judge risks setting up a clash with the New York courts if he lets the specialty-chemical company exit bankruptcy without handing over an additional $140 million to them. Read the Daily Bankruptcy Review story here.

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Cicero Bankruptcy Attorney Describes The Chapter 13 Plan

07/26/11

What we are talking about basically is the Chapter 13 plan.  It’s the reorganization plan.  And the debtor is required to not only prepare a plan which they do through an attorney, but they need to execute the plan.  If the monthly payment in the plan is not enough, the case will not be recommended [...]

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