Bankruptcy Blogs

Fed's Feeble Swipe Fee Rule Is an Unauthorized Sop to Big Banks

07/07/11

The Fed ignored Congress' clear directive not to include any costs other than that of authorizing and clearing a debit card transaction in its definition of "reasonable and proportional" swipe fees.

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Dodgers Fans to Judge: Call McCourt Out

07/07/11
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Frank McCourt

A handful of Los Angeles Dodgers fans are imploring Judge Kevin Gross to play umpire and send team owner Frank McCourt packing.

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Insurance Redlining and Transparency

07/07/11

Insurance nerds like to point out that insurance coverage is a pre-requisite to a wide range of activities, from starting a business to practicing medicine to driving a car.  In this sense, insurers often serve as gatekeepers to fundamental social privileges.  Nowhere is this more starkly illustrated than in the residential real estate context.  As one court succinctly put it: “No insurance, no loan; no loan, no house; lack of insurance thus makes housing unavailable.”  

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Century-Old Primer on Investing for Women Shows How Much, and How Little, Has Changed

07/07/11

A century ago, E. H. Rollins & Sons, then one of the foremost investment houses in the country, put out a book whose stated purpose was to educate women about investing. The title alone speaks volumes about an era when women had yet to gain the right to vote: "A Financial Courtship."

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Why You Should Always Consult A Tampa Bankruptcy Lawyer When Petitioning For A Bankruptcy Discharge

07/07/11

A Chapter 7 bankruptcy may provide a person inundated with debt some relief. A Chapter 7 bankruptcy gives the debtor an opportunity to liquidate certain assets in exchange for a discharge from debts owed. Creditors included in the bankruptcy will be prohibited from taking any further collection action against the debtor once the discharge is [...]

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Seller of Recalled Candle Fuel Burns in Chapter 11

07/07/11

A home-décor distributor that made sold bottled burnable candle fuel has filed for Chapter 11 bankruptcy protection, facing dozens of lawsuits by burn victims.

Georgia-based Napa Home & Garden Inc. sold a clear, slow-burning gel used to fill up decorative fire pots—a summertime staple for outdoor patios and decks—that has been blamed for sending dozens of people to the hospital after they were splattered with flaming gel.

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The Daily Docket: Corus Bankshares Rises From the Ashes

07/07/11

After its liquidation proposal was rejected, Corus Bankshares Inc., an Illinois holding company that had its primary asset–its bank–stripped from it nearly two years ago, reversed course and is poised to pitch creditors on a plan to emerge from bankruptcy. Read the Daily Bankruptcy Review story here.

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Repeat Chapter 13 Filer May Obtain Extension of Bankruptcy Stay Through Terms of Chapter 13 Plan

07/07/11

A U.S. bankruptcy court in California agreed with a chapter 13 debtor that the terms of his chapter 13 plan could prevent a foreclosure, even though he had previously filed a chapter 13 which was dismissed in the one year prior to his second case.  Mortgage banks will consider this ruling to be an “end run” [...]

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Feedback: Why Bair Should Not Be Treasury Secretary

07/07/11

A recent BankThink piece asserted that retiring FDIC chairman Sheila Bair should be the next Treasury secretary. However, Ms. Bair's background and performance as FDIC chairman strongly suggests she would not be a good choice.

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Means Test Decides Whether You Can File Chapter 7 Bankruptcy if You Exceed Illinois’ Median Income

07/07/11

If you are experiencing serious financial difficulties in Illinois and your income is less than Illinois’ median income, then you can file a Chapter 7 bankruptcy, if you meet other minimum criteria. But if your income is greater than the State’s median income, then you must take a means test to see if you can [...]

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