Current Affairs

Fed bankruptcy court may lose Will County courtroom space

06/13/11

"JOLIET — A federal bankruptcy judge soon could be looking for new chambers as Will County eyes his courtroom. The space where the U.S. Bankruptcy Court holds its calls in Joliet is actually owned by Will County. It’s found on...

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Perkins & Marie Callender's Files for Chapter 11 Protection

06/13/11

"Perkins & Marie Callender's Inc. filed for Chapter 11 bankruptcy protection Monday after securing key creditors' support for a plan to slash the company's $440 million debt load. Early papers filed in the U.S. Bankruptcy Court in Wilmington, Del., put...

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Goldman joins disclosure fight over Lehman claims

06/10/11

"Goldman Sachs Group Inc (GS.N) and other banks fighting for control of Lehman Brothers Holdings Inc's (LEHMQ.PK) bankruptcy have joined efforts to avoid sharing information about claims against the failed investment bank. In court papers filed Friday in U.S. Bankruptcy...

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Amendment to Title 11?

06/03/11

On May 26th, Sen. Durbin (D-IL) introduced S.1102 a bill to amend Title
11 with respect to certain exemptions to discharge in bankruptcy. The bill is Durbin's previously introduced, in other Congresses, student loan in discharge bill. According to Durbin's statement,...

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Major Victory!

06/02/11

The Honorable Michael S. McManus denied the U.S. Trustee's Motion to Dismiss a legally married same-sex couple's Chapter 7 case. The UST moved to dismiss alleging that the Debtors' joint petition was improper and unauthorized because the term "spouse" as...

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Feds look to give trustees more power

05/31/11

"Federal legislation introduced last week is giving credence to a battle being fought in Middle Tennessee by bankruptcy trustee Henry "Hank" Hildebrand. Hildebrand was the subject of a Friday story related to a growing movement across the country: Judges and...

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LA Real Estate Mogul Convicted Of $21m Fraud

05/22/11

"A bankrupt Los Angeles real estate developer has been convicted of stealing some $21 million through a tax shelter scheme. Ezri Namvar was found guilty Thursday of four counts of wire fraud along with a second defendant, 63-year-old Hamid Tabatabai....

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Loehmann's Bankruptcy Ends

03/02/11

"Loehmann’s, which filed for Chapter 11 for a second time last November, emerged Tuesday from bankruptcy and will keep its three remaining Orange County stores open. Loehmann’s also announced that Joe Melvin, the retailer’s CFO and COO, assumed the interm...

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Boise County to file for bankruptcy

03/02/11

"The Boise County Board of Commissioners announced Tuesday the county will file for Chapter 9 bankruptcy after losing a $4 million judgment over a proposed treatment center for teens." Read more here.

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Mesa Air Group exits bankruptcy court Tuesday

03/01/11

"Mesa Air Group said Tuesday it is officially unbankrupt. Actually, what it said was that its plan of reorganization took effect Tuesday, allowing it to exit Chapter 11 bankruptcy proceedings after 14 months as a much smaller, but it hopes,...

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