Bankruptcy Blogs

Seventh Circuit’s Opinion Affirming the Bankruptcy Court’s Denial of River Road Hotel Partners’ Proposed Bid Procedures

06/28/11

The Seventh Circuit Court of Appeals affirmed a decision of Judge Bruce Black of the United States Bankruptcy Court for the Northern District of Illinois in the In re River Road Hotel Partners, LLC et al. chapter 11 cases. The decision which was the subject of the appeal denied approval of the debtors’ proposed bid [...]

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Sbarro Reports $6.3 Million Net Loss for May

06/28/11

On Friday, Sbarro, Inc. and its affiliates filed their consolidated monthly operating report for May 2-29, 2011 with the bankruptcy court. The companies filed pre-arranged chapter 11 cases in the Southern District of New York on April 4, 2011. They operate a chain of over 1,000 “Italian quick service restaurants” and generated over $300 million [...]

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IRT Partners, L.P. and Equity One, Inc. v. Winn-Dixie Stores, Inc.: Opinion Affirming Denial of Motion to Amend Bankruptcy Claims Post-Confirmation

06/28/11

The Eleventh Circuit Court of Appeals affirmed a district court decision (which had, in turn, affirmed a bankruptcy court decision) sustaining the debtors’ (Winn-Dixie Stores, Inc. et al.) objections to the appellants’ (IRT Partners, L.P. and Equity One, Inc.) attempt to amend their claims post-confirmation of the debtors’ plan of reorganization. The claims arose in [...]

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Filing Bankruptcy Without an Attorney

06/28/11

According to the state bar, 40-50% of Arizona bankruptcy filings occur without an attorney (“pro se” in legalese).  Most individuals who file for bankruptcy are at rock bottom, and do not believe they can afford an attorney, or that it will be necessary to a successful outcome of the proceedings. However, the importance of an [...]

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What Can The CFPB Do To Regulate Payday Lenders?

06/28/11

Even though the CFPB cannot cap interest rates on payday loans, there is still plenty that the CFPB can do to regulate these lenders. But what should the Bureau do? Some of the trickiest aspects of the payday lending issue have nothing to do with interest rates, and everything to do with how the loans are marketed and used.

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A Shock to the Core: The Supreme Court Pries Jurisdiction Away from the Bankruptcy Courts on Counterclaims to Proofs of Claim, and Possibly More

06/28/11

On Thursday, the Supreme Court in a 5-4 decision ruled in Stern v. Marshall[1] that the congressional grant of jurisdiction to bankruptcy courts to issue final judgments on counterclaims to proofs of claim was unconstitutional.

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A Shock to the Core: The Supreme Court Pries Jurisdiction Away from the Bankruptcy Courts on Counterclaims to Proofs of Claim, and Possibly More

06/28/11

On Thursday, the Supreme Court in a 5-4 decision ruled in Stern v. Marshall[1] that the congressional grant of jurisdiction to bankruptcy courts to issue final judgments on counterclaims to proofs of claim was unconstitutional.

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Letters Show Different Side of Lee Farkas

06/28/11
Bloomberg News
Lee Farkas

“A tremendous asset to the community.” “A great source of inspiration and love.” “Courteous, truthful and contrite.” Someone “who seems always to p

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Bair Led by Listening

06/28/11

I have come to know Sheila Bair as a pragmatic regulator who is passionate not only about protecting consumers, but also about ensuring the ongoing success of the community banking system.

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The Daily Docket: Dodgers Turn to Hedge Fund For Financing

06/28/11

The Los Angeles Dodgers turned to a hedge-fund manager owned by J.P. Morgan Chase & Co. to finance its operations––including meeting player payroll this week––while embattled owner Frank McCourt maneuvers to retain control of the baseball team through a bankruptcy proceeding. Read the Daily Bankruptcy Review story here.

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