Bankruptcy Blogs

Business risk from public spending cuts

09/12/10

Connaught PLC's administration illustrated the risk to private sector business of public spending cuts (Connaught collapse blamed on government spending cuts). That risk is further highlighted in research, statistics and commentary from such diverse sources as R3 (The Association of...

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If You Are Married, Can One Person File?

09/10/10

“If a couple is married, can only one individual file for bankruptcy?” The answer, simply, is yes. Married couples do not have to file for bankruptcy together – One person may file individually, or both individuals may file together.
When filing individually, bankruptcy will not affect the non-filing spouses’ credit, provided there aren’t any joint debts. Joint debts are debts shared between both individuals. So, if a debt is shared by both individuals, the creditor can look at either person, or both, to pay the debt.

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Connaught collapse blamed on government spending cuts

09/07/10

The impending administration of the FTSE 250 social housing company, Connaught PLC, is widely reported today. This tangible illustration of the effect government spending cuts can have on industry poses questions about the future of the UK economy. There will...

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Real Housewife Star Teresa Guidice Faces Allegations of Bankruptcy Fraud

09/06/10

United Press and about two dozen tabloid web sites and blogs are reporting that reality TV star Teresa Guidice, and her husband Joe

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The Chapter 7 Bankruptcy Filing Of American Shingle & SIding, Inc.

09/05/10

The local and national news has picked up on the Chapter 7 Bankruptcy filing of American Shingle & Siding, Inc.  The case was filed on September 2, 2010, as Chapter 7 Case No. 10-85541-MGD (click here for the petition).  The schedules were not filed with the petition, but the petition indicates that the company had assets between $1-10 million, and claims of $10-50 million.

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7th Circuit Shows How "An Ounce of Prevention Is Worth a Pound of Cure"

09/03/10

Busy lawyers often assume that it's ok to skip a ministerial presentment hearing and await the Court's order scheduling a hearing on the merits.  Today's opinion from the 7th Circuit in United States v.

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Tenants Protected After Foreclosure

09/01/10

You are a tenant in a multi-family or single family house that has just gone through foreclosure. Can you be just "kicked-out" by the foreclosing bank?

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Mixed messages regarding 'time to pay'?

08/31/10

HMRC is currently 'considering the release of statistics for Time to Pay (TTP)'. Whilst the review is ongoing it is unable to provide statistical information for the Business Payment Support Service which operates all TTP arrangements.

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Yra Harris on How BAPCPA Has "Flown Back in the Banks' Faces Good and Hard"

08/26/10

With little fanfare, Yra Harris, a veteran trader of Chicago's pits, started blogging his Notes From the Underground last December.  I learned about it last month from a good friend of his, and strongly recommend it to you.  Yra is a frequent guest commentator on CNBC, and one of the smarter guys in the room.

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Texas Rangers Chapter 11 Saga - Lessons Learned?

08/25/10

The Texas Rangers Chapter 11 case is finally winding down, following several weeks of nearly non-stop legal wrangling and high stakes drama. Rangers Baseball Express, LLC (“RBE”), a group fronted by legendary pitcher Nolan Ryan, emerged as the winner following a l

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