Law Firms

Alabama’s constitution makes it nearly impossible for counties to raise taxes without state approval, a situation that has complicated efforts to bring debt-laden Jefferson County out of the largest bankruptcy in municipal history. Read the Daily Bankruptcy Review article here.

In the race to open offices throughout the globe and lure rainmakers to their ranks, some law firms willingly took on debt they expected to have no trouble paying—a once-safe bet that is now backfiring. Read the Daily Bankruptcy Review article via The Wall Street Journal.

The U.S. Supreme Court began the process of weighing in on one of the hottest issues in corporate bankruptcy Monday, casting harsh eyes on a hotel owner’s attempt to block its secured lender from using debt as currency in a bankruptcy auction. Read the Daily Bankruptcy Review article here.

A group led by basketball star Magic Johnson won the Los Angeles Dodgers at a bankruptcy auction Tuesday, The Wall Street Journal reports.